Australia’s DayTek Capital, which is currently building a new challenger bank, is helping individuals, families and businesses get access to information on the coronavirus pandemic.
Federal, state and council-based stimulus packages have been dispensed across Australia, but this has left a lot of information spread across multiple locations. DayTek has partnered with web designer Increaseo to release www.stimuluspackage.com.au, which will collate all of the various information into a single location.
This move comes to help individuals and businesses keep track of what support there is out there for them during the pandemic.
DayTek Capital is also using the platform to provide information on support services including food banks, crisis accommodation, mental health services and more.
DayTek Capital CEO and co-founder Will Banks said, “Vulnerability to the impact of the quarantine measures can occur because of high-debt burden. Business owners fear that without the ability to secure additional financing to bolster their working capital requirements, COVID-19 could quickly become an existential challenge.
“But this can be mitigated, to a certain extent, if banks provide assistance by relieving significant cash flow pressures. Banks need a balance between their supply of credit to the market and their own exposures and systematic risk. This is where Infinity’s unique banking products come into their own.”
DayTek Capital is hoping to launch its new challenger bank Infinity later in the year. It will initially launch with a prepaid card.
The bank has been given the support of Australia’s federal government and the Trade & Investment Queensland in establishing itself.
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