Finance industry

P2P-lending in 2020: Survival of the toughest

Finance industry

Asia has seen a surge in P2P-lending—in investors, borrowers, as well as start-ups. But then coronavirus happened and it changed everything. A common occurrence across most P2P platforms has been an increase in borrowers defaulting on loans. This was due to the outbreak, nationwide lockdowns, extreme changes in people’s livelihoods, and uncertain economic futures. These…

Will PayPal offer crypto sales? And more finance news

Finance industry

Crypto sales soon available on PayPal? PayPal and Venmo are reportedly taking a big step in the crypto direction. PayPal will be following in Square and Revolut’s footsteps, who have both seen great profits after launching crypto transactions on their platforms. The news of PayPal’s entry into the crypto market comes from “three people familiar…

Oil makes a comeback, facial recognition software gets the boot

Finance industry

In the wake of backlash against police violence in the United States, several technology companies have suspended their development of facial recognition technology. IBM CEO Arvind Krishna noted the use of facial recognition is biased and contributes to the perpetuation of racial discrimination: “IBM firmly opposes and will not condone uses of any technology, including…

Is Amazon going driverless? And other May news

Finance industry

The European Union finally announced its plan to help the region’s economy begin making its way back from the coronavirus. The plan, dubbed “Next Generation EU”, includes €750 billion in stimulus relief, with €500 billion allocated toward free grants to member states, and €250 billion to be used as loans within the region. Using these…

Microsoft Excel goes fintech, Poland backs its banks in April

Finance industry

Amidst a global financial crisis, Poland has shown that its banking sector is up to the task of maintaining economic stability for the nation through these tough times. This comes at a time when news outlets had been spreading false information about the country’s financial situation that even caused several bank branches to close as…