Innovate Finance is working on ways that members can work together to support those affected by the Russian invasion of Ukraine.
The fintech trade body, whose members include peer-to-peer lenders such as Blend Network and Funding Circle, said firms will need to support the implementation of government sanctions on Russia and screen customers to remain compliant.
Janine Hirt (pictured), chief executive of Innovate Finance, said the organisation is planning to hold sessions on how members can show their support and will also run webinars and forums to help members understand their responsibilities and any changes they need to make to effectively implement sanctions.
She highlighted warnings from the National Cyber Security Centre about potential online hacks as a result of the conflict in Ukraine and said sessions would be held on increasing cybersecurity and awareness.
“We are working closely with our members and convening the fintech community to help Ukraine, support the international response and support fintech resilience and legal obligations,” Hirt said in a message to members.
“In the coming days we will be holding a session for members to discuss how the community can come together to bring help to those affected by the crisis.
“In advance, if your firm has already started or is planning a humanitarian initiative to support people in Ukraine and refugees, please do let us know.”
It comes as Zopa Bank yesterday said it would make up to 50 work visas available to Ukrainians already in the UK and support job applications for those coming from overseas.