Coronavirus: the Power of Fintech Community

What can a community, founded to create synergies and foster collaboration in the fintech sector, do in a moment like this when the country where it is based is going through an emergency that will be remembered in history? Undoubtedly collect all things valuable and useful made by its members, support it, amplify it, so it can reach as many people as possible.

With a fintech spirit which takes fuel from innovative and digital tools and services orienteered towards the future, but still capable of looking at current needs and responding quickly and effectively, we move on. At this time also the fintechs of the Fintech District community have proved to be active and responsive in giving support for the Coronavirus emergency.

Here is a collection of the proposed initiatives. Not only hashtags such as #iorestoacasa and #andràsuttobene but concrete actions.

  • AppQuality, the Italian leader in Crowdtesting, is offering free online consultations to help managers implement and improve their smart working culture. Also, since many ecommerce websites are struggling to keep up with their customers’ expectations, AppQuality is happy to provide a free test of their checkouts
  • Borsa del Credito has created Cash anti Covid-19, a 6-month bullet loan designed to cover 100% of current SME expenses for the next six months (wages and salaries, rents, utilities).
  • Catapush offers free of charge and for the entire period of the emergency for Covid-19 the instant messaging application Catapush Messenger to local, provincial and regional Administrations, Civil Protection, Hospitals, Red Cross, other public authorities involved, to allow them to communicate directly from their systems with staff, volunteers, doctors, staff etc. on the territory and/or with citizens. (Rest API, On Line DEMO)
  • DeRev, free of charge, provides its team and its experience in strategic communication and crisis management to support national and regional institutions, municipalities, health facilities and politicians who in these days have the task of informing, raising awareness and assisting citizens in the most correct and effective way possible.
  • Fintech4i Monday, March 23rd organized the webinar “How I fight you COVID” to raise funds for the coronavirus emergency. Thanks to 4 experienced traders will analyze price movements in this historical phase of modern finance. All revenues will be donated to the Italian Red Cross.
  • GrowishPay allows Italian ecommerce to donate a share of their sales to entities or non-profit organizations in this moment of emergency through the GROWISHCHARITY solution that also provides a widget in real time to view the total amount donated and transfer the donations collected to the beneficiary organization.
  • Hype offers its customers the possibility to make a donation directly from its app, using the “send money” function, to help the ASST Fatebenefratelli Sacco hospital, in Milan, to which fintech itself has already donated 25K €.
  • Italy launched “Call for Italy“, in partnership with Entopan. It’s a program to help startups, SMEs and big companies to overcome the crisis after COVID-19 emergency. They want to support the growth of innovative projects through investments, educational programmes and advisory on innovation. Call for Italy is an ecosystem made of financial partners, investments funds, banks and innovation consultant, all committed to help companies with high level services to face and overcome the crisis.
  • October suspends capital repayments for a period of 3 months for more than 500 SMEs with active repayment schedules. This measure will be initiated automatically and without any bureaucratic procedures by entrepreneurs. October will renounce the fees charged to SMEs throughout the period as a further sign of its efforts.
  • Opstart, Ener2crowd and gimme5 have launched a special fundraiser on the portal in favour of Cesvi, committed to supporting the Pope John XXIII Hospital of Bergamo and to supporting the over-65s in the cities of Bergamo and Milan, with home help.
  • PINV Documentale enables you to safely send, receive and store accounting and financial documents. No more sifting through emails, chats or jumping from one platform to another. No matter where you are, you and your accountant will share a single online platform where everything will be easily available 24/7
  • Satispay invites its community to support the Civil Protection through its Donations service. The money collected through the association 1 Caffè Onlus will be donated entirely to the Civil Protection, which in turn will allocate the funds to the Italian health care, especially to hospital doctors working towards containing the contagion.
  • Soisy will cancel commissions on all investments until June 10 to all investors of Soisy to remove obstacles to the flow of investment to the economy
  • Splitted (by Splitty Pay) has launched a fundraising campaign in collaboration with the Don Gnocchi Foundation and the Director of the crisis unit, Paolo Banfi, for the purchase of new ventilators to strengthen the intensive care unis. The funds raised will be donated to the foundation as soon as the amount for the purchase of the equipment is reached.
  • Starteed, Oval and Walliance have launched #ioRestoaCasa, a crowdfunding campaign to raise funds for the Department of Civil Protection to support healthcare units facing the Coronavirus emergency.
  • In this context of health crisis, Swikly is showing its solidarity by offering its online security deposit service free of charge until 31 August in order to help vacation rental professionals, camping professionals as well as car rental companies to make a success of their season, in the best health and safety conditions.
  • Revolut supports Humanitas hospitals involved in the Coronavirus emergency through the Donations function within the app. Donations will be used to provide hospitals with medical devices and materials needed to protect the most fragile patients.

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Author: Tudor Sava

19 Marzo 2020