Capgemini and Efma published World FinTech Report 2020 revealing traditional banks have an opportunity to thrive in today’s market by embracing Open X and becoming Inventive Banks.

The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.

The Chancellor has announced support worth £1.25bn for UK start-ups and businesses driving research and development in some of the most dynamic sectors of the UK economy – ranging from tech to life sciences.

Global fintech platform NIUM has partnered with Geoswift, an innovative payment technology company connecting China and the rest of the world, to enable overseas customers to remit money into China. The tie up allows NIUM’s customers worldwide to send funds directly to a receiver’s UnionPay card account with 14 banks in China in real-time, and another 50+ within 48 hours[2].

Google is likely going to push into banking and this could include a parallel to the Apple Card.

Revolut challenger bank's staff are being offered shares in exchange for lower take-home pay. This comes as the company seeks to tighten its belt in light of the COVID-19 pandemic.

Banco Santander has launched a cross-border payments app PagoFX in the UK, taking on the might of rival fintech unicorn TransferWise.

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.

SWIFT has made the decision to cancel the fintech conference Sibos 2020 in Boston due to the coronavirus pandemic.

Some of the top bosses at Barclays are donating a third of their fixed salary over the next six months to help kickstart a £100m aid package.

Visa and popular bitcoin cashback app Fold are ready to introduce customers to the first debit card which provides users with a bitcoin rewards program.

Monzo already implemented voluntary employee furloughs and salary cuts in the U.K.

Chime, the biggest U.S. digital bank start-up, is piloting a way for its users to receive their federal $1,200 stimulus checks instantly.

Last week Revolut announced that it will provide cryptocurrency to all seven million customers.

Chinese mobile payment platform operated by Ant Financial – Alipay came up with initiatives to support small businesses in Wuhan as the city remerges from the lockdown period due to the COVID-19 pandemic.