FinTech innovators are using open banking technology to create effective new solutions to address the economic impact of the Covid-19 outbreak. The Open Banking Implementation Entity (OBIE) has created a web page to bring these together in one place and is using the hashtag PoweroftheNetwork to promote it.
The solutions being showcased include MALG member Elifinty’s new ‘Coronavirus Lighthouse’ website which has been to set up to to signpost people and businesses to legitimate sources of help and regulated advice within only three clicks. It is an “uncluttered, advert free, frills free site” from which no income is being generated. Neither us nor any individuals or businesses can sell anything on the site or try to make money through it.