Featured News

Trending News

Finance in Motion teams up with Napier AI to enhance AML efforts in impact investing

Napier AI is set to enhance Finance in Motion’s operations by integrating its Client Screening solution and Client Risk Assessment module within the Napier AI Continuum platform. This initiative is aimed at bolstering Finance in Motion’s growth and enabling the firm to focus on generating positive change in emerging markets through impact investments.

The Napier AI platform offers several innovative features that Finance in Motion will benefit from, including API-enabled, cloud-native automated client screening which supports transliteration across 22 languages, AI fuzzy matching, and secondary scoring capabilities. Additionally, the platform offers a user-friendly interface with customisable workflows, a sandbox environment for optimising screening configurations, and configurable dashboards that facilitate efficient decision-making through no-code rule building and AI insights.

Impact investing is crucial for addressing global challenges and achieving the United Nations’ Sustainable Development Goals. Specifically, the 8th goal aims to promote ‘Decent work and economic growth’ by taking immediate and effective measures against forced labour, modern slavery, human trafficking, and the worst forms of child labour. Finance in Motion is dedicated to this cause, ensuring that the funds they manage are not only invested responsibly but also safeguarded against financial crime through robust AML controls.

Sylvia Wisniwski, Managing Director at Finance in Motion, emphasized the importance of their duty to ensure that all capital raised is used precisely for intended impact investments in emerging markets. She said, “Like any institution, we have a duty to ensure that the public and private capital raised is used exclusively for the intended objectives, in our case impact investments in emerging markets. Accordingly, regulation requires effective measures to prevent funds from being used to finance criminal activities. The collaboration with Napier AI allows us to efficiently query data through automated processes and integrated systems.”

Greg Watson, CEO of Napier AI, expressed pride in their partnership with Finance in Motion. He said, “Napier AI is proud to join forces with Finance in Motion to use next generation technology to make a positive impact on the planet. The key to dismantling criminal networks lies in cutting off their sources of revenue entirely by correctly identifying accounts, transactions, and behavioural patterns associated with financial crime. Napier AI’s cutting-edge compliance solutions supercharge Finance in Motion’s mission to generate positive change in emerging markets with automated client screening.

Napier AI is a pioneering RegTech company providing anti-money laundering and financial crime compliance software to the banking, payments, and wealth & asset management sectors. With a client base of over 150 institutions globally, Napier AI Continuum is transforming compliance into a strategic advantage.


Exploit intelligence firm VulnCheck announces $7.95m seed investment

This recent financial infusion includes $4.75m in new capital primarily contributed by Sorenson Capital, a noteworthy participant in this funding round.

The company, which specialises in providing next-generation exploit intelligence solutions, has raised $7.95m to further its mission. The investment was led by Sorenson Capital, marking a significant milestone in VulnCheck’s financial journey.

VulnCheck offers sophisticated services that streamline vulnerability prioritisation by integrating exploit and threat intelligence. This approach allows enterprises, government agencies, and cybersecurity entities to focus on critical threats with enhanced efficiency and accuracy. The firm’s unique selling proposition lies in its ability to deliver actionable, machine-readable data at the moment of disclosure, significantly reducing the need for human intervention and accelerating response times.

The freshly acquired funds are earmarked for accelerating VulnCheck’s growth and enhancing its product development capabilities. The aim is to expand the company’s impact on enterprise platforms and workflows, and meet the burgeoning demand for robust exploit intelligence across government entities and organisations tasked with safeguarding critical infrastructure.

Additional insights into the company’s trajectory include its recent accolade as a finalist in the RSA Conference 2024 Innovation Sandbox contest, which underscores its innovative approach and industry recognition.

VulnCheck CEO Anthony Bettini remarked, “Since launching, we’ve seen demand for VulnCheck’s intelligence services skyrocket. Advanced vulnerability management, threat intelligence, and application security features are on the horizon, and VulnCheck is committed to continuing to help organisations prioritise threats in today’s rapidly evolving landscape. This funding is a testament to our momentum, and we are excited to further invest in developing our enterprise and critical infrastructure solutions.”

Previously, VulnCheck has been proactive in securing financial backing to fuel its strategic initiatives, with this round serving as a continuation of its efforts to lead and innovate within the cybersecurity space.


Victory Park Capital strengthens alliance with Zip

Victory Park Capital Advisors, an established credit manager and global alternative investment firm, has closed a refinancing agreement for a $225m debt facility with Zip, a renowned player in the digital retail finance and payments industries.

This strategic financial collaboration is set to bolster Zip’s US receivables, marking a crucial step in the expansion of its operations within the American market.

Founded in Australia in 2013, Zip has emerged as a global FinTech powerhouse, offering innovative, customer-focused products and services that bridge the gap between consumers and merchants. The company operates chiefly in Australia, New Zealand, and the Americas, providing versatile point-of-sale payment solutions and connecting millions of customers with a vast network of merchants. This new injection of funds is expected to fuel Zip’s strategic initiatives, enhancing its comprehensive suite of consumer financing solutions and driving the growth of its business platform.

The partnership between Victory Park Capital and Zip is not new; it dates back to 2015, signifying a long-standing, fruitful relationship. The journey began with a A$108m asset-backed warehouse facility, which subsequently expanded to A$200m. In 2020, another milestone was achieved when the two firms closed a A$100m debt facility, aimed at funding receivables and fortifying the Zip Business platform.

Zip’s Co-founder and U.S. CEO, Larry Diamond, expressed his enthusiasm about the renewed collaboration with VPC, emphasising the transaction’s significance in reinforcing Zip’s presence in the U.S. market.

He said, “We are thrilled to announce our renewed collaboration with VPC, a cornerstone investor in Zip since our early days. This pivotal transaction marks a significant step in bolstering Zip’s expansion within the U.S. market. As we refine and broaden our portfolio of consumer financing solutions, the three-year deal provides us with both the strategic timing and the flexibility needed to spearhead innovation in both our new and existing product lines. This partnership not only underscores our shared vision for market leadership but also cements our commitment to delivering unparalleled financial products to our American customers.” unveils two new features to simplify payments in Europe

European neobank has launched two new features designed to simplify business across the continent.

The first new feature, real-time payments gives the merchant community near-instant access to their funds. Transactions are now settled in up to 60 minutes, compared to the previous next-day settlement system.
The second new feature, Offline Payments, was developed to ensure that merchants can minimize the risk of losing sales due to network connection problems or interruptions. Offline payments allow card transactions to be automatically accepted, even when the merchant is offline at the point of sale.

“The last thing a business wants is to be waiting for funds to come through on a sale that’s already been completed, or worse yet, missing out on a sale due to network connectivity issues. With Real-Time Settlement and Offline Payments, those issues are a thing of the past. Near-instant payments, 0% transaction fee options and the possibility to complete sales under even the most challenging connectivity conditions are in-house-created features specifically designed to support our merchants, no matter their size or location.”
Kostas Xiradakis, VP Product and Growth at payment solutions are designed to help businesses of all sizes with innovative tools to streamline operations and increase revenue. The Terminal app turns smart devices into card terminals, while the Smart Checkout payment gateway increases conversion rates by up to 21%; both offer more than 30 payment methods.

These new features will initially be enabled for companies with accounts, thereby optimizing cash flow and managing costs. Real-time payments and offline payments are the latest additions to’s suite of commerce products, including Business Debit Cards to manage, automate and monitor business expenses, At the same time, reduce costs by 0% transaction fees.

Credit Unions Benefit from Advanced Functionality and Expanded Capabilities with Fiserv Core Platform Enhancements

Fiserv, Inc., the world’s leading provider of financial services and payments technology solutions, continues to enhance its core banking platform to deliver greater agility, fundamental resilience better infrastructure and greater scalability, enabling innovation and growth for credit union customers.

One of many Fiserv cloud platforms, Fiserv Portico® enables credit unions to operate more efficiently while meeting the needs of today’s members. More than 500 credit unions currently use the platform.

After recent updates, Portico now operates in a cloud environment in Microsoft Azure. Continuous technology upgrades and third-party integrations enable credit unions to deliver superior digital and direct financial services from anywhere, anytime.

“We are focused on powering credit unions with technology that allows them to operate more efficiently and respond quickly to their members’ changing needs,”
“With the migration of Portico to the cloud, clients will enjoy greater flexibility, with the ability to enhance the experience of both staff and members, and will be able to access additional capabilities via both Fiserv and third party integrations.”
Doug Donofrio, senior vice president and Head of Credit Union Solutions at Fiserv.

The cloud-based deployment model helps financial institutions deliver maximum uptime, helping to deliver consistently great customer experiences to credit unions and their members. Benefits include enhanced monitoring tools, architectural improvements for greater speed and efficiency, tightly monitored controls, and compartmentalized disaster recovery environments, Reduces complexity and potential points of failure.

New Integrations Equip Credit Unions for Innovation

Recent third-party integrations into Portico include MessagePay, a solution that allows credit union members to make self-service ACH and debit card payments for their outstanding debts, and Eltropy, a digital conversation platform that optimizes two-way messaging between members and families. credit unions, with documents generated directly from the Portico platform.

Honolulu Fire Department Federal Credit Union took advantage of MessagePay and Eltropy’s integration with Portico, creating a real-time solution for members to make loan payments and see results immediately in their digital banking applications.

“We pride ourselves on offering unique solutions to our fire department and firefighter membership, equipping them to manage their finances in the ways that are most convenient for them, at any time of the day or night,”
“With Portico at the heart of our credit union, we have the flexibility to quickly respond to our members’ changing needs.”
Guy Usui, CEO, Honolulu Fire Department Federal Credit Union.

Based on a service-oriented architecture, Portico is a trading account processing solution that supports a sophisticated, real-time service desk with a zero-trace infrastructure that delivers unprecedented reliability. Portico supports credit union growth by providing intuitive user experiences, streamlined workflows, and rapid training.

In a world that is changing faster than ever, Fiserv helps its customers deliver solutions for the way people live and work today – lifestyle-driven financial services.

Stax Payments Acquires APPS, Expands Technology Stack to Offer Bespoke End-to-End Payment Processing Experience

Stax Payments, a leading payment technology provider, today announced the acquisition of Atlantic-Pacific Processing Systems (APPS), creating a seamless end-to-end payment processing platform . The APPS integration marks a significant expansion in Stax’s technology stack, providing partners and merchants with flexible and customizable options for their payment processing needs on one cohesive platform. final, unique.

“Our partners and customers want a simple, secure, multi-channel payment experience, not only for themselves but for their end consumers,”
“Through the acquisition of APPS, we have heightened our innovation capabilities and technology position, allowing us to create a bespoke payment experience for any merchant, ISV, ISO, or payment facilitator. I’m excited to lead a new era of growth for our employees, partners, and customers.”
Paulette Rowe, CEO of Stax.

The APPS platform, which will be called Stax Processing, will over time serve as the foundational processing layer supporting fintech services for ISVs, ISOs and SMBs. The new comprehensive, seamless ecosystem will include enhanced omnichannel offerings, enhanced data reporting and additional personalization capabilities. This significant expansion of Stax functionality will begin in the fourth quarter of 2023, with full integration and additional developments planned throughout 2024.

With this acquisition, members of the APPS leadership team will join Stax to usher in a new era of all-in-one payments processing. , with APPS CEO Abe Maghaguian moving to Stax as head of payments and APPS COO Sarah Gerald promoted to COO processing at Stax. Additionally, Stax welcomes nearly 50 new APPS members to its expanding team.

“As the payment landscape becomes more complex, users are looking for a one-stop shop for all of their payment needs,”
“This acquisition gives our customers access to a highly experienced team who have worked tirelessly to reduce points of friction and maximize the value of payments for our partners. We are thrilled to join Stax and merge our offerings to deliver a powerful payments platform.”
APPS CEO Abe Maghaguian.

Moove raises $76m in new funding to bolster business growth

Moove, a mobile FinTech, has received $76 million in new funding, including $28 million in equity from new and existing investors.

Funding round led by Mubadala Investment Company (Mubadala), $10 million in venture capital debt from funds and accounts managed by BlackRock, and $38 million in undisclosed amounts previously raised in the last few years 12 months ago.

The African-founded company will use the funding to further its mission to build the largest technology-driven financial services platform for mobile entrepreneurs and strengthen its position on the global stage.

“We are excited to be partnering with Mubadala and BlackRock to double down on our already profitable markets, including the UAE, India, UK, and South Africa, as well as continuing to invest in our customer experience and accelerate our product development to deliver group-wide.’’
Ladi Delano, Co-founder and Co-CEO of Moove.

This investment is an endorsement of Moove’s ability to serve its customers and execute across multiple developing and developed markets. The funding signifies the start of a relationship that will also see Faris Sohail Al Mazrui, Head of Ventures & Growth at Mubadala, join the Moove advisory board.

“Moove has built a highly scalable tech-enabled platform to serve mobility entrepreneurs globally by providing them access to credit and other financial services previously unavailable to them. This is a hugely underbanked and underserved market that we believe has significant long-term potential.”
Faris Sohail Al Mazrui, Head of Ventures & Growth, Mubadala.

Moove aims to provide financial services to people who do not have a bank account or are not served by traditional lenders, so that they can receive income-based financing and access ownership. property ownership as well as financial stability.

TerraPay secures in-principle approval for MPI license from Monetary Authority of Singapore

TerraPay, a payments infrastructure company, has been approved by the Monetary Authority of Singapore (MAS) in principle for a Major Payments Institution (MPI) license, becoming a regulated payments company best.

TerraPay’s global customers and businesses can access its vast network through this coveted MAS endorsement, enabling fully compliant, affordable, and transparent cross-border remittances. . It facilitates fully compliant international money transfers, easy business payments, and alternative payment methods.

The payments company will leverage this license to tap into the region’s enormous potential and strengthen its local presence and existing partnerships in Singapore, Korea, Vietnam and the Philippines.

“I am incredibly proud of the comprehensive network of partners, employees, countries, and licenses we have established worldwide, enabling us to offer simplified payment services for everyone. Obtaining the approval in Singapore is a game-changer, solidifying our position as a leading cross-border payments powerhouse in one of the most significant financial markets globally.”
“At TerraPay, our core values revolve around inclusion and innovation. We are inspired by Singapore’s fintech journey, which aligns perfectly with our mission to improve lives and contribute to a dynamic, inclusive economy. The approval from MAS reinforces our commitment to excellence as we aim to become the most regulatory-approved payments company in the world.”
Ambar Sur, Founder and CEO, TerraPay.

In May 2023, TerraPay announced its Series B equity funding round, in which the company raised more than $100 million for global expansion plans, allowing it to strengthen the network. existing payments and expanding infrastructure and global regulatory and compliance capabilities.

The team has built an expansive payments highway that allows businesses to create a seamless customer experience with an uninterrupted, secure, real-time global process for any payment, no matter how large. or small. TerraPay partners with banks, mobile wallets, remittance operators, merchants and financial institutions, creating a larger and more inclusive international financial ecosystem.

1 2 53

Next-gen core banking leader Tuum bags €25m in Series B investment

The round witnessed leadership from CommerzVentures, accompanied by contributions from Speedinvest and several returning investors.

The company, renowned for its groundbreaking approach to banking technology, has been on a rapid growth trajectory since its first client partnership in February 2019. Tuum stands at the forefront of digital transformation in the banking sector, offering flexible, cost-effective systems that liberate banks to innovate, develop new products, and penetrate fresh markets.

Boasting a diverse customer base across 10 countries, with a significant footprint in the UK and the Nordics, Tuum’s financial performance has been stellar, showcasing a compound annual growth rate exceeding 250% over the last three years.

The newly secured funds are earmarked for an ambitious expansion plan. Tuum aims to strengthen its international presence, targeting pivotal markets in the DACH region, Southern Europe, and the Middle East, including the establishment of a new office.

Additionally, the investment will enable Tuum to bolster its direct sales and marketing efforts and fortify its partner channel.

Reflecting on the funding round, Tuum CEO Myles Bertrand shared his vision, stating, “I joined Tuum in the summer of last year because I saw the gap in the market for its proposition. Everyone knows that banks need to replace their aging core banking systems if they are going to successfully adapt their business models for digital banking.

“However, no core banking vendor has to date made core migration simple and predictable, which is what Tuum is now doing through a combination of smart migrations, a modular and functionality rich core, massive extensibility, and a broad ecosystem of partners.”


ESG FinTech Watershed raises $100m, hitting $1.8bn valuation

The Series C round brings Watershed’s valuation to $1.8bn. This significant injection of capital comes courtesy of lead investor Greenoaks, with notable contributions from Kleiner Perkins, Sequoia, and several other existing stakeholders.

At its core, Watershed’s mission is to hasten the progression of the climate economy. The firm operates with a heightened sense of urgency and possibility, especially considering the environmental milestones and challenges of 2023.

The year marked not only a peak in global temperatures but also saw unprecedented investments in clean energy sectors. Watershed is strategically positioned to catalyse this momentum into tangible climate action, particularly at a time when Fortune 500 companies and thousands of businesses are mandated to adhere to the EU’s Corporate Sustainability Reporting Directive (CSRD), showcasing their commitment to sustainability.

Within the finance world, Watershed allows clients to analyse, reduce and report on their portfolio’s emissions. Financial institutions can get a complete picture of their financed emissions through a carbon estimation engine, with the information all displayed in a handy dashboard.

The capital infusion is earmarked for several strategic initiatives. Their services are comprehensive and global, catering to a diverse client base that includes industry leaders across sectors. The company is dedicated to assisting these entities in navigating their decarbonisation journey, making informed decisions regarding their supply chains, and achieving their net zero objectives expediently.

Watershed is not resting on its laurels. The firm has been industriously developing and augmenting its suite of tools to meet the escalating standards of climate-related work. Noteworthy milestones include the acquisition of CEDA, the establishment of Watershed Disclosures, and the expansion of the Watershed Marketplace. These advancements are designed to empower companies with precise carbon data and streamlined sustainability reporting. Moreover, Watershed’s collaborations with esteemed organisations like KPMG, Accenture, and ERM, and the guidance from its Policy and Science Advisory Boards, ensure that its approach is both scientifically sound and policy-compliant.


Wisedocs secures $9.5m in Series A to revolutionise InsurTech with AI

The investment was spearheaded by Information Venture Partners, a prominent early-stage B2B FinTech investment firm. They were joined by Thomson Reuters Ventures and ManchesterStory, marking a significant vote of confidence in Wisedocs’ future.

At its core, Wisedocs specialises in the development and provision of machine learning software-as-a-service (SaaS) aimed at medical record review, indexing, and summarisation. This innovative service is transforming the way the insurance industry manages and processes medical claims, setting new standards for efficiency and accuracy.

The recently secured funds are earmarked for several strategic areas of growth. Primarily, the investment will support the expansion of Wisedocs’ team, product offerings, and sales territories. This expansion is part of a broader strategy to capitalise on the company’s rapid growth. Notably, Wisedocs made a significant leap into the American market in 2022, establishing new headquarters in Florida to better serve an expanding US customer base.

Additional developments include the launch of Wisedocs’ state-of-the-art Generative AI product suite. This suite, powered by Large-Language Models (LLMs), is a testament to the company’s commitment to innovation. It is set to revolutionise the entire claims ecosystem by offering an intelligent technology platform that streamlines the claims process for insurers, healthcare providers, legal firms, and third-party administrators.

Wisedocs CEO Connor Atchison commented on the funding, saying, “This latest financing round proves the success of our most recent technological advancements. The claims ecosystem has long remained a siloed and slow-moving machine. With the improvements in automation, intelligence, and centralization that Wisedocs enables, the claims process will be an efficient experience for companies, team members, and claimants alike.”

Insurity launches AI-powered solution to revolutionise decision-making for P&C insurance carriers

Utilising Insurity’s analytics solutions grants carriers an enhanced level of reliable insights into their portfolios, facilitating heightened segmentation and improved loss ratios.

The flagship offering of the solution, known as Insurity Predict, harnesses the power of AI to elevate predictive analytics and modelling capabilities, delivering a substantial enhancement in loss ratios and instilling credibility in strategic decisions.

This solution goes beyond merely boosting the accuracy of risk assessment; it also streamlines the underwriting process. Insurity’s analytics models employ advanced AI and machine learning techniques, enabling automation and furnishing superior decision support.

The move has come in response to today’s complex P&C insurance market, which is facing insurance organisations with a myriad of challenges which require accurate and timely decision-making.

Conventional approaches employed by insurers frequently suffer delays, resulting in considerable financial losses and operational hurdles. Insurity’s analytics solutions, driven by AI-powered insights, provide sophisticated, real-time, and reliable insights. This empowers insurers to acquire a more profound understanding of their portfolio, facilitating proactive business management.

Kirstin Marr, Chief Analytics Officer at Insurity, said, “Insurity Analytics, with its AI-powered insights, is a game-changing tool in the insurance industry, empowering carriers to proactively tackle diverse challenges, ensuring better protection for their policyholders and assets. Insurity Analytics is not just about predicting risks but about equipping our customers with the foresight and tools necessary to protect and serve their policyholders more effectively. This is a leap forward in how we use technology to make a tangible difference in people’s lives during critical moments.”


CollateralEdge empowers middle market with Phalanx Impact Partners’ significant FinTech funding

Phalanx Impact Partners, a pioneering investment firm with a focus on fostering positive environmental and community change, has recently announced a significant investment in CollateralEdge.

The amount invested, though undisclosed, has been gathered from several investors with Phalanx Impact Partners leading the round. This infusion of capital is set to further propel CollateralEdge’s mission of providing competitive commercial loans to small and middle market businesses, addressing a critical need in the financial landscape.

CollateralEdge operates at the intersection of technology and finance, offering a revolutionary platform that provides hard collateral support instantly. This aids community banks in mitigating short-term underwriting concerns and minimising policy exceptions on commercial loans. The company’s industry-agnostic platform is particularly beneficial to community banks in rural and urban underserved areas, enabling them to close more deals efficiently and bolster local economies through quality lending.

The newly acquired funds are earmarked for enhancing CollateralEdge’s proprietary Portal technology, which automates the entire loan process, delivering high-quality collateral enhancement solutions directly to banks. This innovation allows banks to maintain autonomy over the loan process and customer relationships.

CollateralEdge, co-founded by Joe Beard and Joe Radtke amidst the COVID-19 pandemic in 2020, has since been on an upward trajectory. The company prides itself on being minority and veteran-founded, with leadership bringing over four decades of experience in investment banking, private equity, and entrepreneurship.

John Pantalena, Partner at Phalanx Impact Partners, echoed this sentiment, stating, “CollateralEdge’s vision deeply resonated with our belief that expanded access to credit can transform communities. In a financial landscape where middle-market capital is disproportionally allocated to private equity owned businesses in a narrow range of target industries, CollateralEdge stands out as a unique solution-driven value proposition. We believe that they will be able grow both by being a valued partner to middle-market lending institutions and by expanding the number of participants in the yield products that they are creating through their platform.”

Joe Beard, Co-Founder of CollateralEdge, expressed his vision for the company, saying, “We are not just building a company; we are constructing a bridge to financial inclusion for small businesses, especially those in underserved communities who need it the most.

“Our collaboration with Phalanx Impact Partners is a testament to our shared belief in the economic backbone of the country small businesses. Together, we empower community banks to extend competitive credit offers to small and middle market businesses which are the key drivers of economic development in this country.”


Surfboard Payments partners with Worldline to revolutionise Nordic payment solutions

This strategic partnership aims to combine Surfboard Payments’ innovative payment solutions with Worldline’s comprehensive expertise in acquiring, processing, and fraud prevention. The collaboration is designed to offer a wide range of payment options and services to businesses across the Nordics, enhancing their payment systems and customer experiences.

Surfboard Payments develops an acquiring platform for card present payments, including SoftPOS and API-based payment terminals. Its solution ensures agile development, minimal dependencies, and control over IP. The company’s offerings are directed towards ISVs and payment partners who aim to disrupt in-store experiences with better value for merchants and consumers.

Worldline, on the other hand, is a technology partner for merchants, banks, and acquirers. With a workforce of 18,000, it provides in-store and online card acquiring, secure payment transaction processing, and a variety of digital services.

The partnership initially focuses on Sweden, Norway, Denmark, and Finland, with potential expansion to other markets. It features Surfboard Payments’ suite of payment terminals like SurfPad, SurfTouch, SurfPrint, CheckoutX, and SoftPOS solutions. These will be integrated into Worldline’s merchant and partner offerings. Additionally, all hardware will be delivered by Surfboard Payments’ SurfShip API first platform, including next-day delivery within the Nordics.

The strategic alliance between Surfboard Payments and Worldline signifies a major advancement in the payment sector, aiming to boost business efficiency, security, and customer satisfaction with innovative solutions.

Worldline Head of Strategy & GTM Merchant Services RB Nordics, Filippa Marklund said, “We are thrilled to embark on this transformative partnership with Surfboard Payments. Surfboard Payments’ innovative payment solutions perfectly complement our existing portfolio, enabling us to provide businesses with a competitive range of payment options and services that create real value for the merchants.”

Surfboard Payments CEO, Christopher Lindfeldt said, “We are excited to collaborate with Worldline to expand the reach of our payment solutions across the Nordics. Worldline’s established strong presence, deep understanding of the market and strong sales capabilities will be instrumental in driving our mutual success.”


Intergiro teams up with Silverflow for cutting-edge card processing technology

Intergiro, a Swedish FinTech providing payment and banking infrastructure, has unveiled a groundbreaking partnership with Silverflow, a cloud platform specialising in global card processing.

This collaboration aims to empower Intergiro to offer its clientele advanced card network capabilities, augment processing efficiency, and grant unprecedented access to card scheme data.

This strategic move aligns with the burgeoning demand among digital merchants for progressive payment processing mechanisms. Silverflow’s platform, already endorsed by prominent payment service providers and acquirers, such as Deutsche Bank and Buckaroo, promises to equip Intergiro’s ecosystem with cutting-edge card scheme innovations at an accelerated pace.

This not only fortifies Intergiro’s financial suite with acquiring capabilities but also enriches its digital issuing and banking services, offering comprehensive and detailed reporting functionalities.

Intergiro serves as a Swedish FinTech enterprise, offering a comprehensive financial ecosystem tailored for innovators and disruptors. Their suite encompasses card processing, card issuing, and banking tools consolidated into a unified API.

Silverflow, on the other hand, operates as a pioneering payment processing platform custom-designed to meet contemporary payment requisites while remaining adaptable for the future. Embracing a cloud-native approach, they present a singular API interface to the card networks, simplifying complexity, reducing costs, and amplifying innovation opportunities.

“The payments landscape is constantly evolving and it’s more important than ever for our merchants to have access to the latest technologies being rolled out by the card networks,” said Johan Ryer, CCO of Intergiro. “Silverflow’s platform is bringing some of the latest card scheme innovations to Intergiro at pace and easily accessible, which will enable our clients not only to save costs but also meet the payment processing needs of new digital businesses.”

Anne Willem de Vries, CEO and co-founder of Silverflow, commented, “We are very excited about our new partnership with Intergiro. We are looking forward to powering Intergiro’s processing back-end and bringing our easy-to-use platform, data capabilities, and the latest card scheme innovations to Intergiro’s merchants.”


Bain Capital invests $200m to transform mutual insurance landscape

Known for its strategic investments, the firm intends to elevate the industry’s service standards and operational efficiency, through the inception of this group, according to InsurTech Insights.

The launch of The Mutual Group is a result of Bain Capital Insurance’s acquisition of GuideOne Insurance Company’s operational platform. GuideOne, a niche-market mutual insurance carrier established in 1947, stands as the catalyst for this groundbreaking venture, and becomes the first company to join the group.

As the inaugural member of the group, GuideOne will receive $200m. These funds are earmarked to fortify its balance sheet, augment surplus positions, and further fuel growth in service of policyholders. This strategic step is in line with the company’s mission to reinforce long-term stability by enhancing operational efficiencies and bolstering underwriting performance.

Chuck Chamness, former CEO of the National Association of Mutual Insurance Companies, has been brough to the helm of the Mutual Group as Chairman.

Additionally, Tim Fleming, GuideOne’s Senior Vice President of Core Commercial Lines, steps into the role of Chief Executive Officer. He said, “The Mutual Group is an exciting new platform that combines GuideOne’s nearly eight decades of experience as a niche mutual insurance carrier and its highly specialised team with the insurance investing acumen and strategic vision of Bain Capital Insurance.”

The vision for The Mutual Group extends beyond conventional insurance offerings, aiming to provide a unique spectrum of services encompassing underwriting, claims processing, reinsurance acquisition, and a robust technological suite housing policy administration, enterprise billing, and claims administration systems.

Set to launch with an impressive annual premium portfolio of around $800m, servicing over 50,000 commercial policyholders and backed by a workforce of over 400 employees, The Mutual Group establishes its formidable presence within the insurance sector. With its headquarters based in West Des Moines, Iowa, this initiative represents a significant force poised to redefine insurance practices.

1 2 62