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Covid-19 Fintech Watch: Digital banks reassure customers | P2P under pressure | Canadian banks close branches
Our daily wrap-up of overnight coronavirus-related news for Thursday 19 March 2020.
Fintech Watch is our daily wrap-up of overnight coronavirus-related news in the world of fintech and finance.
Here’s what you might have missed overnight:
“We're keeping an eye on the number of questions you're asking us about coronavirus, so we can make sure we have enough staff in the right areas to help you,” wrote Monzo’s vulnerability manager Natalie Ledward.
“Over the next few days and weeks we’ll publish advice on how to help stay safe from fraudsters who are using the coronavirus outbreak to scam people,” added Starling in its advice, noting a rise in the number of scams its customers are reporting.
Tide’s CEO Oliver Prill said the fintech was following all the news on government grants, aid and loans to businesses, and wrote: “We’re in touch with the authorities and as soon as we know the details, we’ll publish information about how you can access this help.”
Canadian banks are closing branches. According to Finextra Canadian banks have started shutting physical branches in response to Covid-19.
“The banks - Bank of Montreal, CIBC, National Bank of Canada, RBC, Scotiabank and TD - are encouraging customers to use other channels, including online and mobile banking, ATMs and phone banking,” writes Finextra.
While we haven’t seen UK bank branches shutting yet, it’s certainly something to look out for over the coming days.
That’s all for today folks...