Foliume, which specialises in automating insurance processes, has secured a $1m seed funding round led by Belgium-based venture fund Pitchdrive and Wayra, the investment arm of Telefónica. The round also saw participation from key figures in insurance distribution and technology, according to InsurTech Insights. The fresh capital will be used to enhance product development and support
WeeFin, the innovative FinTech company, announced today that it has secured a new funding round of €25 million. This financial injection comes 15 months after WeeFin’s Series A and is led by BlackFin Capital Partners, a prominent European FinTech fund. The round also saw participation from existing investors IRIS, Asterion Ventures, and Ring Capital. WeeFin,
Tietoevry Banking and Version 1 have announced a strategic partnership aimed at accelerating the digitalisation of European financial institutions. By combining Tietoevry Banking’s robust SaaS offerings with Version 1’s expertise in modernising banking systems and their specialism in AI compliance, ethics, and risk management, this alliance is poised to transform the digital landscape of banking across Europe.
Global FinTech firm SumUp, which provides payment solutions to businesses of all sizes, has partnered with FreedomPay, a leader in Next Level Commerce™ technologies, to enhance payment experiences for retail and hospitality merchants worldwide. The partnership aims to strengthen the payment infrastructure by offering a robust system with offline capabilities, ensuring seamless transactions even in remote areas,
Flagright, an AI-native AML compliance platform, has announced the successful closure of a $4.3m seed funding round. This financial boost aims to propel the development of Flagright’s solutions and support its international expansion. The funding round was spearheaded by Frontline Ventures and included investments from a group of distinguished angel investors. The company specializes in
Vanquis and FinScan, a leading provider of AML compliance solutions from Innovative Systems, have entered into a partnership. Vanquis Banking Group is known for its dedicated approach to responsible lending within the financial industry, whereas FinScan specializes in advanced AML compliance technologies that aid in enhancing operational efficiencies and customer transparency. The driving force behind this collaboration
Munich Re, a global reinsurance leader, has signed a definitive agreement to acquire NEXT Insurance, a digital-first small business insurer, in a deal worth $2.6bn. Following the acquisition, NEXT Insurance will become part of ERGO Group, Munich Re’s primary insurance subsidiary. The acquisition aims to strengthen ERGO’s presence in the US small business insurance market, leveraging
Saifr has announced its integration with Adobe that aims to redefine compliant content creation within the financial services industry. As part of the Adobe Experience Cloud as an Adobe Technology Partner, Saifr provides advanced AI compliance solutions that serve as a compliance guardrail for generative AI content, helping users manage their risk and enhance the speed
OwlTing Group a global blockchain fintech company, today announced its partnership with GMO-Z.com Trust Company, Inc. (“GMO Trust”) to enhance the accessibility to GYEN[1], the first regulated Japanese Yen (“JPY”) stablecoin. This strategic move aims to provide users with diversified cross-border transaction options in one of the world’s major reserve currencies. By integrating GYEN and
PIMFA WealthTech, the innovation arm of the Personal Investment Management & Financial Advice Association (PIMFA), has partnered with Morningstar to launch a new AI-focused Tech Sprint, aimed at solving key operational challenges in the wealth management sector. The competition offers FinTech firms the opportunity to present their AI solutions at the Morningstar Investment Conference UK, taking place
Edenred Payment Solutions, a UK-based e-money institution, has launched a new Virtual Card Number product designed to help insurance companies speed up claims payments. Insurance claim processing has traditionally been slow, with claimants often waiting weeks for reimbursements, according to Insurtech Digital. Research from Sollers Consulting and Ipsos reveals that 63% of UK insurance customers prioritise
NatWest and OpenAI have entered into a partnership aimed at driving substantial transformations within NatWest through advanced AI technologies. NatWest, known for its comprehensive banking services, seeks to enhance its operational efficiency and customer service through this strategic collaboration. OpenAI, acclaimed for its groundbreaking work in generative AI, brings a wealth of technological expertise and innovative solutions