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Tietoevry Banking partners with Finance Innovation to boost Norwegian FinTech innovation
Tietoevry Banking has officially joined NCE Finance Innovation, a key Norwegian FinTech cluster, in a move designed to drive innovation, collaboration and digital transformation across the financial sector.
The partnership aims to enhance knowledge-sharing among industry players.
Finance Innovation is a nationally recognised cluster supported by Innovation Norway and focuses on uniting finance and technology stakeholders across the country. The collaboration is expected to strengthen the national role of Finance Innovation as a hub for customer-led transformation, while also advancing the reputation of the financial sector as a dynamic and attractive career destination for tech professionals.
Tietoevry Banking acting managing director Mario Blazevic said, “We want to contribute to strengthening Finance Innovation’s role as a leading national arena for customer-driven innovation and transformation, helping the financial sector enhance its competitiveness and reputation as an attractive workplace for anyone passionate about technology.”
Finance Innovation CEO Rea Parashar welcomed the partnership, highlighting the strategic value that Tietoevry brings to the cluster. Rea Parashar said, “Tietoevry Banking is a valuable addition to the cluster ecosystem at Finance Innovation. With its broad expertise, extensive experience, and international network, this collaboration can unlock significant benefits for both society and the business community which aligns perfectly with our mission as an industry cluster.”
Tietoevry Banking employs around 3,400 FinTech experts globally, with 1,500 based in Norway across key cities including Bergen, Trondheim, Mo i Rana and Oslo. The company plays a central role in accelerating digital innovation in the region and sees this new partnership as a means to both contribute and learn.
Blazevic said, “The pace of digital innovation and transformation in Norway must increase, and the financial sector is a key catalyst in this effort. With our strong presence both in Norway and internationally, we at Tietoevry Banking are committed to sharing our expertise and experience to help Finance Innovation strengthen its national role, says Mario Blazevic, adding that the partnership will also be an important learning platform for employees.
“Those of us working in technology can never claim to be fully trained. We must continuously evolve, stay on top of trends, and find ways to convert them into lasting value for customers and society. The collaboration with Finance Innovation will be crucial for strengthening our regional presence
Client executive Sveinung André Gundersen underlined the importance of Tietoevry’s open, modular platform in enabling innovation within the FinTech ecosystem. Sveinung André Gundersen said, “Because our systems are based on open and modular solutions, this network will allow us to further strengthen the ecosystem of partners driving innovation and development. We believe and hope that this partnership with Finance Innovation will be a catalyst for further growth and innovation for Tietoevry Banking in the Bergen region — and that it will inspire innovation in other regions as well.”
Tietoevry Banking is a major provider of financial SaaS services across the Nordics and globally. Its suite of offerings spans digital banking, payments, card management, lending, wealth management and fraud prevention. With clients in over 60 countries, the company supports banks and financial institutions in adapting to market demands, complying with regulations, and enhancing customer experiences through secure, scalable technologies. It is part of the wider Tietoevry group, which generates annual revenues of around €3bn and is publicly listed in Helsinki, Stockholm and Oslo.
Lokalbank partners with Tietoevry Banking to power digital transformation
Tietoevry Banking has entered into a long-term partnership with Lokalbank, a network of 16 independent Norwegian banks, to deliver a tailored banking platform for the Norwegian market.
The partnership aims to support Lokalbank’s mission of fostering local community growth through the adoption of a future-ready digital platform. The solution is designed to streamline operations, enhance customer experience, and improve operational efficiency through automation and modernised digital workflows.
Tietoevry Banking brings to the table its full-service technology stack, which includes core banking capabilities, online and mobile banking, payment systems, card services, and anti-financial crime solutions. Built on industry-standard architecture, the platform ensures compliance, security, and rapid deployment.
Lokalbank serves approximately 250,000 private and corporate clients across Norway. By adopting Tietoevry’s platform, the collaboration will benefit from reduced complexity and a more cohesive user experience. Employees will be better positioned to focus on advisory services, thanks to the automation of routine processes.
The five-year agreement, with an optional extension of two plus two years, establishes a structured collaboration framework between Lokalbank, Tietoevry Banking, and the Frende Group. The Frende Group, of which Lokalbank and Sparebanken Norge are key members, includes banks that distribute insurance from Frende Forsikring and partner with Brage Finans and Norne Securities. The framework also enables additional banks to join the group under favourable technology terms.
As part of the deal, Tietoevry Banking will oversee the migration of Lokalbank to its modernised core platform using a phased approach. This process will include clearly defined roles and a strong governance structure to ensure a smooth transition and enable the development of next-generation digital banking capabilities.
Frende Group CEO Stine Neteland highlighted the strategic alignment of the group, stating that having all Frende banks unified under one technology provider opens up significant opportunities for future development and seamless user experiences across their shared ecosystem.
Lokalbank CEO Bent R. Eidem said, “The agreement with Tietoevry Banking provides Lokalbank with a unified technology platform that streamlines operations across the collaboration. Digital workflows and user-friendly tools free up employees to focus on advisory services and sales. Combined with a modern digital interface, this enhances the overall customer experience. Altogether, the partnership with Tietoevry Banking strengthens our banks competitive position.”
Tietoevry CEO Endre Rangnes said, “Being chosen by Lokalbank as a strategic partner is a strong vote of confidence. Our end-to-end technology platform, built on industry-standard architecture, enables cost-efficient banking while meeting high demands for quality and security. Through the delivery of a full-service solution, Lokalbank benefits from significantly simplified integration and faster time-to-market.”
Frende Group CEO Stine Neteland added, “This new technology partnership with Tietoevry Banking enables Lokalbank to offer customers a seamless user experience across banking services and product companies within the Frende network. Combined with lower operational complexity and strong digital interfaces, Lokalbank becomes a highly attractive partner in the Norwegian market.”
Tietoevry Banking acting CEO Mario Blazevic said, “Tietoevry Banking will migrate Lokalbank to its modernised core banking platform using a proven framework that emphasizes strong collaboration, clearly defined roles, and effective meeting structures—ensuring a step-by-step, well-managed transition. This partnership also opens up new opportunities for developing next-generation digital banking services.”
Frende Group CEO Stine B. Neteland said, “We have signed an agreement that enables new members to join the Frende Group directly and benefit from a highly competitive technology deal. Our goal is to remain a collaboration that supports independence while accommodating the diverse needs of different banks.”
Neteland concluded, “That’s why it is especially gratifying that all Frende Group banks are now aligned with the same technology provider. This gives us unique opportunities to further develop our banks, product companies, and deliver outstanding user experiences across our shared ecosystem.”
Cork InsurTech Kayna accelerates global growth with embedded insurance model
Kayna, a Cork-based InsurTech, has announced plans to create 13 new jobs as it expands into the US and UK insurance markets.
The news was shared during a visit from Robert Troy, Minister of State for Financial Services, who met with Kayna CEO Paul Prendergast to discuss the company’s international growth strategy and Ireland’s role as a hub for FinTech innovation.
Founded in 2021 by Paul Prendergast and Peter Bermingham, Kayna delivers embedded insurance solutions for small businesses in sectors such as construction, hospitality, and legal services. The platform enables SMEs to access tailored coverage directly through the software tools they already use. In the US alone, 40% of SMEs are uninsured, highlighting a significant market gap Kayna aims to address.
Prendergast said. “The opportunity is huge. Embedded insurance is forecast to account for 15pc of the global insurance market, worth $1.5 trillion, within a decade. Kayna’s goal is to lead from the front, and to do so from Cork.”
The company is backed by €1m in funding and has secured a major partnership with global broker Willis Towers Watson to support its expansion. Recruitment will focus on software engineers and business development staff, with all roles based in Cork.
Parametrix unveils $2m embedded insurance product for EDR system failures
Parametrix, a pioneer in digital business interruption insurance, has launched a new embedded coverage programme aimed at safeguarding businesses from disruptions triggered by endpoint security failures.
The introduction of this new insurance product comes in the wake of rising demand for improved risk mitigation following high-profile outages.
Notably, the global CrowdStrike incident in July 2024 highlighted the vulnerabilities within Endpoint Detection and Response (EDR) platforms.
As these systems become more central to digital operations, the consequences of their failure have grown more severe, prompting calls for better contingency solutions.
Founded to address the gaps in digital continuity, Parametrix offers parametric insurance products that enable rapid, transparent compensation in the event of technology downtime. By focusing on measurable service interruptions, the firm provides a unique and scalable approach to mitigating digital business risk.
The newly launched embedded coverage product is designed to offer up to $2m in financial protection per client when EDR systems experience failures that halt operations. The programme is exclusively available through selected EDR providers, who will offer it as a value-added warranty for their premium customers. To be eligible, businesses must have at least 100 protected endpoints.
This move is intended to build confidence in EDR platforms by ensuring clients are financially covered should their cybersecurity systems unexpectedly malfunction. By embedding coverage directly within the service package, Parametrix simplifies insurance access while reinforcing trust in digital infrastructure.
The product’s launch further strengthens Parametrix’s leadership in the InsurTech space, especially in the niche of parametric insurance. It reflects the company’s commitment to helping businesses navigate the complexities of digital risk with precision and speed.
WealthTech firm Seeds lands $10m Series A to transform personalised investment experience
Seeds, a US-based WealthTech company focused on modernising investment experiences for financial advisors, has raised $10m in a Series A funding round.
The round was led by global FinTech investor Portage, with additional backing from existing investors Social Leverage and Blank Ventures.
Seeds offers an end-to-end platform designed to help registered investment advisors (RIAs) deliver a more human and client-centric investment journey. By aligning portfolios with investors’ personal values and financial goals, Seeds enables advisors to streamline operations while creating a tailored experience for each client.
The new capital will fuel product innovation, team expansion, and go-to-market efforts, including the rollout of a refreshed brand identity. Seeds plans to enhance its core offering across the full investment lifecycle—allowing advisors to gather client preferences, generate tailored proposals, implement strategies, and communicate insights in a unified system.
To support its growth, Seeds has made strategic hires across product, development, sales, marketing, and customer success.
The latest funding brings Seeds’ total capital raised to over $15m since its launch in 2020.
Portage partner Stephanie Choo said, “Seeds’ vision to confront norms that hold advisors back aligns with our desire to drive meaningful change in wealth management.
“Traditional operational complexity, combined with increasing customer demand for portfolio personalization, is a misalignment that starves advisors’ growth. We’re confident Seeds is uniquely positioned to transform the outdated, transactional, and disconnected investment management experience into one that powers advisory firms of the future.”
Seeds CEO Zach Conway said, “Portage’s vision of the future mirrors our own. This investment demonstrates a mutual commitment to build new tech that actually helps advisors deepen relationships rather than keep them entrenched in legacy tech that forces them to stay behind the scenes. We’re thrilled to join Portage’s vast network of like-minded financial services and technology companies working toward a better future.”
Wagestream secures £300m in debt funding to scale financial wellbeing loans
Wagestream, a UK-based FinTech firm specialising in financial wellbeing solutions for employees, has secured a £300m debt financing facility from global banking giant Citi.
The financing will support the expansion of Wagestream’s Workplace Loans product, which was launched in late 2024 through an early access programme. The product has already been adopted by thousands of users, and the funding will allow the company to scale it further across its UK membership base.
Wagestream offers financial tools aimed at improving employee wellbeing by helping them manage their pay, budget in real time, and access coaching and savings support. The firm’s Workplace Loans are uniquely structured to align with varying income schedules rather than traditional monthly cycles, with repayments made directly via payroll deductions. The loans are also designed to be transparent, with no hidden fees, and carry interest rates starting as low as 5.9% APR. The average representative APR is expected to range between 13.9% and 16.9%.
With the new facility, Wagestream plans to invest further in its Workplace Loans offering, making it more widely accessible to UK employees. The firm also aims to continue innovating within its platform to ensure users can build long-term financial resilience.
Currently, Wagestream’s services are available to over three million employees through more than 2,000 organisations. The platform processes over 10 million transactions each month and facilitates more than £2.5bn in payments.
Wagestream co-founder Portman Wills said, “In just a short period, we’ve seen significant uptake and positive feedback from our members benefiting from fair, accessible credit. This credit facility will allow us to scale our offering dramatically, reaching more employees, with an alternative to the high interest loans offered by traditional financial institutions.”
Fincite and Harvest unite to create European WealthTech powerhouse
Two of Europe’s most prominent WealthTech firms, Fincite of Germany and Harvest of France, have announced a strategic merger to create a new European leader in wealth management software.
The union is supported by private equity investors TA Associates and Montagu and aims to drive growth through acquisitions and an expanded geographic footprint. Both firms will operate under the Harvest Group umbrella, with a shared vision to consolidate the fragmented WealthTech space and build a pan-European champion.
Fincite and Harvest have each developed robust B2B wealth management platforms designed to support financial institutions in delivering tailored, efficient investment solutions. Their software spans the full investment value chain, including onboarding, KYC/AML, advisory, execution, and reporting. By combining forces, they plan to offer deeper, more integrated solutions that can meet the evolving demands of banks and financial firms across Europe.
Fincite co-founder and co-CEO Ralf Heim said, “Today, banks struggle with fragmented and often outdated software systems. We are talking about legacy solutions that are 25 years old or more. This results in a complex and costly IT landscape with limited interoperability. Clients are looking for fewer but stronger partners who can provide deeper and more advanced WealthTech solutions from a single source. Together with Harvest, we are fulfilling this need on a European scale.”
The partnership is expected to accelerate the group’s growth trajectory, with a goal to double revenues within four years. Key markets for expansion include the DACH region, France, Benelux, Italy, and Northern Europe. This growth strategy will be supported by targeted acquisitions to bolster product capabilities and expand into new regions, aiming to position the combined entity as the go-to solution for wealth management technology.
Virginie Fauvel, CEO of Harvest, said, “We are seeing an ongoing wave of modernization in financial institutions. Banks must offer a seamless digital experience, similar to what has become standard in retail banking. The market demands modular and tailored solutions that integrate effortlessly.
“Together with Fincite, we are unlocking synergies and elevating wealth management to a whole new level. This merger represents a major new step for the creation of a solid European group, resolutely focused on development, innovation and customer satisfaction – and it marks the beginning of something truly significant.”
Both brands will continue to operate independently, retaining their current teams and offices. Ralf Heim will join the Harvest Group board while maintaining his role at Fincite. Alongside co-founders Friedhelm A. Schmitt and Stefan Post, and managing director Paul Kammerer, Heim will help steer the next phase of growth.
Doppel lands $35m funding round to boost AI-powered digital risk platform
AI-powered cybersecurity company Doppel has raised $35m in a Series B funding round to strengthen its social engineering defence platform for enterprises.
The round was led by Bessemer Venture Partners, with participation from 9Yards Capital, Sozo Ventures, and existing investors including a16z, South Park Commons, Strategic Cyber Ventures, Script Capital, and Sabrina Hahn. Doppel’s valuation now stands at $205m, bringing its total funding to $54.4m.
Doppel specialises in tackling digital threats like phishing, deepfakes, and brand impersonation. Its platform, Doppel Vision, identifies and eliminates attacker infrastructure across channels such as domains, email, social media, and apps, combining large language models (LLMs) with expert human analysis to deliver real-time protection.
The company plans to use the funds to scale its platform and meet growing enterprise demand. Since its Series A in January 2024, Doppel has seen 400% growth in enterprise customers, 3X growth in annual recurring revenue, and an 8X increase in expansion revenue.
Bessemer Venture Partners partner Elliott Robinson said, “Doppel is quickly emerging as the market leading social engineering defense company by leveraging its proprietary AI-powered approach that is critical in today’s environment as these new threats become increasingly sophisticated for corporation’s brands, executives and employees.”
Doppel CEO Kevin Tian added, “We’re really excited to partner with Bessemer Venture Partners, a firm that understands what it takes to build a generational, category-defining company. We’ll use these funds to double down on our core products, serve the rapidly growing demand from enterprises across all sectors, and build the first social engineering defense platform.”
Wisedocs bags $4.5m from CIBC to streamline insurance claim reviews with AI
Wisedocs, an innovative leader in the InsurTech sector, recently received a significant financial boost. CIBC Innovation Banking has extended $4.5m CAD in growth capital financing.
This move is designed to support Wisedocs in broadening its client base and enhancing its product offerings.
The company, renowned for its artificial intelligence (AI) software platform, offers streamlined solutions for summarizing claim files. Specifically, it serves the insurance industry by enabling rapid and cost-effective medical record reviews.
With the new funds, Wisedocs plans to continue its trajectory as a market leader. The focus will be on further developing its intelligent technology platform to manage claims more efficiently. This strategic enhancement aims to leverage advanced generative AI to revolutionise how medical records are processed.
CIBC’s funding follows Wisedocs’ successful $12.7m oversubscribed Series A financing round in January 2024. This indicates strong confidence in Wisedocs’ ongoing expansion and its role within the InsurTech industry.
Connor Atchison, Chief Executive Officer of Wisedocs, praised the partnership with CIBC Innovation Banking. “The CIBC innovation banking team is phenomenal to work with. They have a deep understanding of our business needs, the requirements of a high growth tech company, and the need for dynamic banking solutions to expand globally. We are excited to continue to accelerate our growth with an amazing partner like CIBC.”
SentinelOne launches Risk Assurance Initiative with AI-powered security for insurers
The program, known as the SentinelOne Risk Assurance Initiative, aims to offer insurers the SentinelOne Singularity™ Platform at preferred rates, enabling them to stop attacks before they occur and reduce both financial losses and insurance premiums.
The move has been driven by the growing need for insurers to provide robust cybersecurity solutions to their clients. As cyber threats become more sophisticated, insurers are seeking advanced technologies to mitigate these risks and enhance their service offerings.
The company’s Singularity Platform is recognised for its superior performance in the MITRE Engenuity ATT&CK Evaluations and has been named a Leader in the Gartner Magic Quadrant for Endpoint Protection Platforms for three consecutive years.
Customers have also rated it highly, with a 95% recommendation rate on Gartner Peer Insights.
The platform provides 100 percent detection and the highest level of real-world protection. This initiative will enhance the efforts of leading carriers and cyber insurance providers, including AXA XL, Coalition, Travelers, At-Bay, and CFC, who are already deploying the Singularity Platform to prevent ransomware and other cyber threats.
One of the key features of the new initiative is the Insurance Posture Report, integrated into the Singularity Platform. This comprehensive report on key telemetry signals, mapped to the CIS18 standard, allows customers to share their cybersecurity status with insurers, enabling quick validation of acceptable risk profiles.
Additionally, SentinelOne backs its platform with a $1m Breach Response Warranty, offering financial relief and added assurance in the event of a breach.
Managed Service Solution Providers (MSSPs) also trust SentinelOne to deliver top-notch cybersecurity for their clients.
The Singularity Platform is included in the portfolios of companies like Optiv, which use it for Incident Response and Managed Services. This integration supports SMB and mid-market companies in containing threats, remediating breaches, and maintaining robust risk profiles.
John Roberts, General Manager, Security, Coalition, stated, “When a client is managed with SentinelOne, we know they have strong protection against sophisticated cyber-attacks. Coalition can generally offer them more favourable insurance pricing based on their use of managed detection and response technology than if they did not have those security measures in place. We not only leverage SentinelOne in our Coalition Managed Detection and Response offering as a trusted solution for our clients, but also lean on SentinelOne for Coalition Incident Response to support more rapid containment and remediation for clients that have experienced a breach.”
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.”