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iLife Technologies rebrands as Infras to expand insurance infrastructure solutions
iLife Technologies, a leading technology provider in the insurance industry, has officially rebranded as Infras following a period of significant growth for the firm.
The move signifies the company’s evolution beyond life insurance as it looks to deliver headless connectivity infrastructure that enables insurance carriers to seamlessly integrate with any distributor user interface without extensive redevelopment, according to InsurTech Insights.
The move signifies the company’s evolution beyond life insurance and follows a period of accelerated growth for the company, which now serves enterprise clients across multiple insurance product lines, including life insurance, annuities, group benefits, disability, long-term care, and wealth management.
By focusing on API-driven infrastructure, Infras empowers carriers to modernize their operations while maintaining flexibility in distribution.
A core aspect of Infras’ mission is to help insurance providers become AI-ready. By abstracting user interface logic and standardising data creation across systems, Infras simplifies the way carriers collect, manage, and analyse data.
This enhanced data consistency forms a critical foundation for business intelligence and AI deployment, positioning insurers for long-term success in an increasingly digital landscape.
The company’s headless connectivity infrastructure supports any distributor interface without requiring backend redevelopment, converts complex back-end logic into modular, adaptable elements, reduces support and maintenance expenses by up to sixfold, accelerates deployment speed by up to sevenfold, and improves business intelligence and AI readiness.
“Our new name, Infras, speaks directly to what we provide: Headless Connectivity Infrastructure,” said Nelson Lee, Founder and CEO of Infras. “By decoupling business logic from specific user interfaces, we enable insurance carriers to streamline their operations, reduce costs, and expand their distribution capabilities without technical barriers.”
With this rebrand, Infras reaffirms its commitment to revolutionising the insurance technology landscape, ensuring carriers have the tools needed to scale efficiently in an increasingly dynamic market.
Axyon AI gains €4.3m to boost AI innovation in investment management
Axyon AI, a prominent player in the FinTech sector, has successfully secured a €4.3 million investment round.
The funding was led by CDP Venture Capital, with notable contributions from US-based venture capital firms Green Sands Equity and Montage Ventures, the Italian holding firm Investment Opportunity 1, and SIMEST, acting on behalf of the Fund F.394 managed in agreement with the Italian Ministry of Foreign Affairs and International Cooperation (MAECI).
Established in 2016, Axyon AI specialises in leveraging predictive AI technology to enhance investment management practices. The company’s innovative solutions focus on improving the accuracy and efficiency of investment strategies through advanced data analytics and AI explainability.
The new funding will be instrumental in broadening Axyon AI’s reach in the financial markets and further developing cutting-edge solutions. This capital boost aims to enhance the company’s commercial presence and improve the coverage of its AI-powered solutions, positioning Axyon AI at the forefront of AI explainability in the investment management industry.
In addition to funding details, the company plans to use the investment to expand its product offerings and strengthen its market presence. Axyon AI has introduced AI-powered factors and its AI-Compass, an alert system that provides insights into market trends and potential risks, enhancing quantitative analysis for investment managers.
Daniele Grassi, CEO and co-founder of Axyon AI, commented, “This funding round, backed once again by our existing shareholders, reaffirms the confidence in our vision and accelerates our expansion beyond current markets. Artificial Intelligence has proven a powerful ally for traditional and quantitative investment managers seeking to enhance their investment strategies with precise, data-driven insights. With this latest investment, we will be able to expand our commercial presence, enhance the coverage of our solutions, and build on our leadership position for AI explainability in financial markets.”
WeeFin secures €25m to lead sustainable FinTech expansion in Europe
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, founded in 2021 by former R&D product manager at BNP Paribas, Grégoire Hug, along with Marion Aubert and Guillaume Klech, has quickly become a pivotal player in the FinTech sector. The company provides a comprehensive SaaS platform that centralises data essential for deploying and managing sophisticated sustainability strategies. These include aspects ranging from ESG to impact and climate initiatives, highlighting the firm’s commitment to advancing sustainable finance.
The fresh capital will be employed to further refine WeeFin’s offerings. This includes the enhancement of existing product functionalities, such as data management, the launch of new modules like a solution dedicated to ESG performance attribution, and the integration of new data sources. These enhancements are designed to bolster regulatory compliance and augment client support for more informed investment decisions.
WeeFin has shown remarkable growth, with international sales jumping from 0% to 30% and Annual Recurring Revenues (ARRs) increasing fivefold in the last two years. With plans to continue expanding across Europe, WeeFin aims to penetrate new markets, including Luxembourg and Italy, and has recently inaugurated an office in the UK. Moreover, the company has doubled its workforce in the past two years and anticipates hiring over 100 new employees within the next three years.
Julien Creuzé, Partner at BlackFin, and Chloé Novène, Investment Manager at BlackFin, praised WeeFin’s leadership and vision, expressing enthusiasm for the company’s future prospects, particularly in the UK. Grégoire Hug, CEO and co-founder of WeeFin, reiterated the importance of sustainability in today’s financial landscape, stating, “With BlackFin Capital Partners as one of our investors, WeeFin has the support it needs to make a definitive impact in Europe. This Series B not only confirms this vision but also validates our clients’ trust and the relevance of our platform, which enables them to address their challenges at scale.”
In terms of previous investments, WeeFin’s Series A had successfully set the stage for this subsequent funding round, demonstrating strong investor confidence and a solid track record of growth and innovation.
SumUp teams up with FreedomPay to deliver seamless and secure payment solutions
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, according to FF News.
Additionally, it provides hardware flexibility and enterprise-level functionality to support businesses of all sizes, from small merchants to large-scale enterprises.
SumUp is known for delivering intuitive and accessible payment solutions that help businesses process transactions efficiently.
The company offers a range of financial services, including card readers, invoicing, and business accounts, designed to simplify payments for merchants across various industries. SumUp’s ecosystem integrates seamlessly with business operations, ensuring streamlined financial management.
FreedomPay provides a global commerce platform that merges security, payments, identity management, loyalty, and data-driven insights.
Its technology is designed to support merchants across different sectors, ensuring secure, scalable, and seamless payment processing. The platform’s patented technology enables businesses to integrate payments across different channels, offering a unified commerce experience.
Through this collaboration, SumUp and FreedomPay aim to provide merchants and consumers with an enhanced payment experience that prioritises scalability, simplicity, and security. Businesses will benefit from:
- Scalability and consistency: Merchants can rely on a single provider for all payment needs, ensuring high-quality service across locations and business sizes.
- Simplicity and transparency: With transparent pricing and no hidden fees, businesses can operate without concerns about unexpected costs.
- Security and trust: FreedomPay’s security framework, combined with SumUp’s payment ecosystem, ensures transactions meet the highest industry standards.
SumUp’s commercial lead Joey Oliver said, “At SumUp, we are dedicated to empowering merchants with payment solutions that are as straightforward as they are secure. With FreedomPay as our partner, we’re advancing our commitment to making top-tier payment technology accessible and effective for every business.”
FreedomPay’s SVP of global business development Kevin Carson said, “By working with SumUp, we are now enabling a system that provides best-in-class payments, data, and security functionality to some of the leading brands across the globe. We’re creating a powerful ecosystem that will not only empower merchants with industry leading commerce technology, but also provide a seamless and personalised customer experience.”
The partnership marks a significant step in delivering a unified and innovative commerce solution to merchants worldwide, reinforcing the commitment of both companies to advancing payment technology.
OwlTing Partners with GMO Trust to Expand Multi-Currency Stablecoin Offering
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 ZUSD (USD stablecoin) into the Company’s digital wallet, OwlPay® Wallet Pro, OwlTing will bridge traditional and digital finance, enabling businesses and individuals to leverage stablecoins for fast, low-cost global payments.Morningstar director of market expansion Anastasia Georgiou commented, “Innovation thrives on collaboration and access to the right tools. By providing fintech companies with our Intelligence Engine as part of the Tech Sprint challenge, we aim to empower them to develop reliable and impactful AI solutions that address real challenges within the wealth management sector and enhance user experience.
“We look forward to showcasing the winners at this year’s Morningstar Investment Conference UK, helping to expand access to innovative, tech-driven tools for advisers and fund selectors.”
OwlPay® Wallet Pro will be expanded to support buying, selling, sending, and receiving a robust lineup of regulated stablecoins in the near future, including the widely adopted USDC, EURC (EUR-pegged), GYEN, and ZUSD stablecoins, positioning it as a versatile platform for managing digital assets across multiple currencies. This expansion underscores OwlTing’s commitment to delivering compliant, efficient payment solutions worldwide.
“Our alliance with GMO Trust accelerates our mission to redefine global financial connectivity,” said Darren Wang, Founder and CEO at OwlTing Group. “By amplifying the reach of GYEN and enhancing our stablecoin suite, we’re unlocking Japan’s digital payment potential and building a scalable platform for a borderless economy.”
“Partnering with OwlTing furthers our strategy to lead the stablecoin revolution,” said Ken Nakamura, CEO at GMO-Z.com Trust Company, Inc. “Delivering GYEN and ZUSD via OwlPay® Wallet Pro will expand our global footprint, creating new opportunities in the intersection of traditional and digital markets.”
Edenred launches virtual card solution to accelerate insurance claims payouts
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 fast claims handling, highlighting a strong market need for improved payout solutions. Edenred’s new product aims to meet this demand by offering instant virtual card payments.
Edenred’s role in financial technology Edenred Payment Solutions provides embedded finance services to major clients such as Tide, Thinkmoney, Oney, PayByPhone, and Sainsbury’s. The company enables businesses to access e-money accounts and digital payment infrastructure without navigating complex regulatory requirements independently.
Edenred’s Virtual Card Number product allows insurance providers to issue digital payment cards immediately upon claim approval. The virtual cards can be integrated with mobile wallets like Google Pay and Apple Pay, enabling policyholders to pay service providers directly without relying on personal funds.
The system ensures security by allowing insurers to pre-set spending limits and restrict transactions to approved merchants, reducing the risk of fraud. The technology also automates invoice reconciliation, simplifying administrative processes for insurers and improving the claimant experience.
Edenred has already deployed this solution for a multinational French insurance company and states that new implementations can be completed within two months. The development aligns with the broader trend of embedded finance, which is transforming industries like insurance, retail, and transport by integrating financial services into non-financial platforms.
Edenred Payment Solutions managing director Rehana Mitha said, “Virtual cards and embedded finance are transforming the insurance industry by streamlining the claim payout process. These technologies enable instant access to funds; eliminating delays and reducing paperwork for policyholders, while also offering insurers better transparency and fraud prevention tools.
“By simplifying reconciliation, improving security, and tailoring card usage to specific claims, virtual cards deliver significant benefits for both insurers and their customers.
“As one of the most widely used financial products, insurance is ripe for innovation, and we’re excited to help drive this change.”
Edenred Payment Solutions product director Rich Logan added, “Our new Virtual Card System represents a major leap forward in how insurers can handle claims payouts. The ability to integrate seamlessly with existing systems means that insurers can adopt this solution quickly, minimising disruption while maximising impact. We’re proud to be leading this shift towards smarter, faster, and more secure claims processes.”
InsurTech leader Peak3 secures $35m to drive European expansion
Peak3, a global InsurTech company specialising in cloud-based insurance solutions, has raised $35m in a Series A funding round to accelerate its expansion across the UK and European markets.
The funding round, which will support Peak3’s ambitious growth plans, was backed by investors keen to drive digital transformation in the insurance sector.
The company has already established its European headquarters in Dublin, Ireland, with a focus on key markets including the UK, DACH (Germany, Austria, Switzerland), France, Spain, Italy, Benelux, Scandinavia, and Turkey.
Peak3 provides an API-driven, cloud-native Software-as-a-Service (SaaS) platform, Graphene, designed to help insurers modernise their operations.
The company’s technology enables insurance firms to update legacy systems without expensive overhauls, improving speed-to-market, scalability, and customer engagement across multiple regions. It also supports greater financial inclusivity by addressing protection gaps for SMEs, freelancers, gig economy workers, and younger demographics.
It to use the newly secured funding to enhance its presence in Europe through local talent acquisition and the further development of its digital-first, embedded insurance solutions.
With a workforce of over 500 professionals across R&D, delivery, sales, and operations in Japan, Southeast Asia, Greater China, and now Europe, Peak3 is well-positioned to drive innovation in the sector.
“Insurers across the UK and Europe face increasing pressure to modernise, reduce operational costs, meet ever-increasing compliance requirements, and improve customer engagement,” Peak3 CEO of EMEA Adrien Lebègue said. “Our Graphene platform provides a flexible, scalable foundation for them to deliver digital-first insurance, harmonising operations across multiple countries and regions while ensuring seamless hybrid human-digital interactions.”
Esben Seyffart Sørensen, chief sales officer for Europe at Peak3, added: “There is a huge opportunity to bring Peak3’s expertise to Europe, where we are seeing a shift in the insurance landscape. While we are building on our significant success in APAC, we recognise that localisation is key. We are not simply replicating an APAC model but leveraging our insights and adapting them to meet local market needs.”
Peak3 has already made strides in the European market, with project wins underway and a vision for a more seamless and integrated insurance ecosystem. The company’s core capabilities include omni-channel engagement, digital and embedded insurance, core modernisation, and AI-driven decision-making to enhance customer retention and engagement.
Novidea upgrades insurance management platform to boost efficiency
Novidea, a provider of cloud-based, data-driven enterprise insurance management solutions, has announced a raft of updates to its insurance management platform designed to boost its effectiveness in policy management, claims administration, billing, accounting, document and file management, and other key areas.
The move will enable the offering to achieve greater efficiency and innovation across all markets it serves.
The latest update reinforces Novidea’s commitment to innovation, ensuring it maintains a competitive edge while continuously improving its offerings for its global customer base.
Among the key updates is an enhanced policy management system that supports vertical placement, allowing policies with different premiums per carrier to be recorded without splitting them into separate policies.
Additionally, the platform now supports automated bordereau file ingestion for policy creation and binder/lineslip management.
Claims management has also been upgraded, enabling brokers to link claims related to the same incident or catastrophe seamlessly.
The system now supports CLASS (Claims Loss Advice and Settlement System) messaging, allowing brokers to upload claim data and supporting documentation for insurers to review, agree upon, or reject claims online.
Enhancements to the Insurance Business Accounting (IBA) module introduce a new ledger view, which enables users to adjust parameters dynamically and perform advanced actions. Additionally, brokerage movement types are now more transparent, allowing better tracking between booked, earned, and realised brokerage.
For line-of-business (LOB) management, the update integrates state-specific sections in line with ACORD standards and improves the submission workflow. This provides better visibility into open quotes, related lines of business, and advanced editing capabilities.
Document and file management improvements now include advanced auto-filing capabilities, along with the ability to associate filed content with a specific Legal Entity (LE) as defined by the user.
“Our recent release demonstrates our commitment to continuously innovate and provide improved customer experience,” Novidea CTO Erez Nissim said. “We are confident that our data-driven insurance management platform will continue to provide organisations the technology and tools they need to manage complex transactions, drive efficiencies and fuel business growth.”
Adobe and Antom Forge Strategic Partnership to Empower Digital Creativity with Seamless Payment Access Across Asia
Adobe and Antom, a leading provider of unified merchant payments and digitisation solutions under Ant International, today announced a strategic partnership to launch an optimized payment experience and tailored digital marketing offerings for Adobe’s customers across Asia.
“At Adobe, we’re always looking to deliver elevated and localized experiences for our customers. As our base of customers in Asia fast expands, we’re excited to announce our partnership with Antom to integrate localized payment options for our customers and unlock new growth opportunities in the various markets we’re expanding with Antom into,” said Matt Wegner, Vice President, Global Payments, at Adobe.
Adobe will integrate localized payment solutions to strengthen its global footprint with its user-centric approach. Leveraging Antom’s comprehensive acquiring network, advanced payment technology and broad local payment method coverage across Asia, this partnership will help Adobe optimize transaction flows, increasing conversion rates, and ensuring fast, secure and cost-effective payment settlement.
In the first phase of the collaboration, 8 new alternative payment options will be rolled out across 8 key Asian markets, including AlipayHK (Hong Kong SAR, China), DANA (Indonesia), GCash (the Philippines), Kakao Pay (South Korea), Momo (Vietnam), PayPay (Japan), Touch ‘n Go (Malaysia) and True Money (Thailand). Moving forward, both companies may explore opportunities to introduce additional payment methods to include credit cards, bank transfers, digital wallets, and more.
“We are excited to collaborate with Adobe, a pioneer in leveraging AI to enhance creativity and productivity for its users. Through this partnership, we aim to make Adobe’s advanced tools more accessible to a broader customer base in high-growth markets. Adobe’s AI strategy aligns closely with our commitment to supporting merchants with unified payment solutions powered by AI, and we look forward to driving greater synergy together,” said Gary Liu, General Manager of Antom, Ant International.
Beyond payments, the two parties will explore opportunities to introduce Adobe into Antom’s A+ Rewards, an in-App digital marketing platform powered by privacy-preserving computing and AI technologies. It connects brands with hundreds of millions of e-wallet users by embedding with leading e-wallets in Asia. This collaboration is expected to help Adobe improve customer acquisition and engagement through targeted campaigns integrated into users’ everyday digital payment experiences.
“We work with global industry leaders to enhance their presence and advance digital innovations in Asia and beyond, and the partnership with Adobe is part of that effort. We look forward to enabling professionals and enterprises, especially small businesses, to adopt cutting-edge technology and fully unlock their potential,” Liu added.
Overall, the Antom-Adobe partnership will enhance accessibility to creative professionals, businesses and educational institutions, helping them leverage Adobe’s products with greater flexibility. Region-specific payment options built on Antom’s robust payment infrastructure will allow Adobe to respond to the evolving needs of customers in the Asia market via an omnichannel marketing approach that will deploy curated offers and content that is supported by their most preferred payment methods.
Orion180 launches FLEX Home Insurance to empower Florida homeowners with customisable coverage
Orion180, a leading provider of flexible, customer-focused homeowners and flood insurance solutions, has launched its new FLEX Home Insurance product across 14 coastal counties in Florida.
The launch comes in response to Florida’s escalating insurance crisis, driven by frequent hurricanes, flooding, and other natural disasters.
Homeowners in the state face some of the highest insurance premiums in the US, with an annual average of $5,340, according to data from Bankrate.
Despite this, 18.1% of homes in Florida remain uninsured, placing it among the top ten states with the highest rates of uninsured properties. Miami-Dade, in particular, stands out as the most at-risk county nationwide.
Orion180 provides innovative, customer-centric insurance solutions that are designed to address gaps in traditional home and flood coverage. Its mission is to offer flexible and transparent insurance products that adapt to homeowners’ individual needs and financial circumstances.
The new FLEX Home Insurance product empowers Florida homeowners to tailor their insurance policies according to their specific risk tolerance and budgets.
FLEX allows users to customise coverages and select from a variety of deductibles and co-payments, giving them greater control over how they manage both upfront and long-term costs.
Beyond basic coverage, FLEX includes several features aimed at rewarding and protecting policyholders. Homeowners with a claims-free history may qualify for a bonus of up to 100% of their first-year premium.
Additionally, the product includes a rate-locking feature, enabling customers to extend their policy terms and protect themselves from rising insurance rates.
FLEX is now available through a network of select insurance agents across 14 coastal counties in Florida, including Miami-Dade, Broward, Palm Beach, Hillsborough, Pinellas, Lee, Sarasota, Manatee, Brevard, St. Lucie, Collier, Martin, Charlotte, and Indian River.
Orion180 CEO Ken Gregg said, “Standard home insurance policies are outdated for today’s consumer, and a lot of time do not align with the individual’s budget and interest. FLEX gives homeowners the power of choice. The policy is flexible and allows consumers to choose coverages that fit their individual needs and budget.”
FinTech Wales welcomes Aviva as new partner to strengthen InsurTech collaboration
Aviva, one of the UK’s leading insurance and financial services firms, has partnered with FinTech Wales to foster innovation, support collaboration, and strengthen the FinTech and InsurTech sectors across the nation.
Aviva joins an impressive roster of partner members including Barclays, The Royal Mint, Go.Compare, Confused.com, Admiral, Starling, Hodge, Principality and Monmouthshire Building Societies, Veeqo and Future Finance, according to FF News.
By becoming a partner of FinTech Wales, Aviva is deepening its involvement in the Welsh FinTech community, fostering innovation, and supporting the development of disruptive financial technologies.
Aviva has long been recognised as a stalwart in the insurance and financial services industry, providing a broad range of products to millions of customers in the UK.
Its operations increasingly focus on innovation through partnerships with emerging technology companies, with a view to accelerating digital transformation and future-proofing services.
FinTech Wales, founded in 2019, supports over 160 businesses both in and outside of Wales.
The organisation is committed to promoting innovation, growth, and cross-sector collaboration across the financial services and technology spectrum. Its core mission is to position Wales as a global leader in FinTech by facilitating connections between startups, established firms, academic institutions, and public sector entities.
Aviva’s collaboration with FinTech Wales predates the formal partnership. In November 2024, the insurer was headline sponsor of the FinTech Wales Investment Conference, underlining its early commitment to supporting local innovation and investment.
This sponsorship served as a catalyst for deeper engagement and has now evolved into an official strategic partnership.
As part of the partnership, Aviva aims to contribute its industry expertise to the FinTech Wales community, while also gaining insights from the Welsh FinTech and InsurTech scene. The relationship is poised to open new doors for startups and entrepreneurs seeking to collaborate with an established market leader.
Sarah Kocianski, CEO of FinTech Wales, said, “Aviva joining FinTech Wales as a partner highlights the strength and potential of our ecosystem. Its presence will not only add to the wealth of expertise within our community but also create new opportunities for collaboration for innovative fintechs. Partnerships like this are key to the continuing growth and evolution of the Welsh fintech industry, and we’re excited to see the impact Aviva will have as we continue to champion Wales as a hub for fintech excellence.”
Arslan Hannani, group innovation director at Aviva, said, “We’re delighted to work with Fintech Wales and strengthen our relationships with businesses in this growing sector. The partnership will allow Aviva to explore innovative ideas and solutions with the Welsh FinTech community and help businesses get ready for the future.”
Temenos reveals GenAI’s transformative impact on the banking sector
In a comprehensive survey conducted by Hanover Research for Temenos, a leading provider of banking technology, it was revealed that a significant majority of banks are actively exploring the deployment of GenAI to enhance their operational efficiencies.
The survey, which polled 420 business and technology leaders within the financial services sector, underscores the growing interest in GenAI’s potential to revolutionise various facets of banking operations.
The findings indicate that 75% of banks are exploring GenAI deployment strategies, with 36% already in the deployment phase or in the process of deploying the technology, and an additional 39% evaluating potential deployment opportunities. The driving force behind this surge in interest is the desire to enhance operational efficiency, improve customer experience, and fuel business growth. Notably, nearly half (43%) of the banks already involved with GenAI plan to increase their investment in the technology over the coming year.
Despite the enthusiasm, there are significant concerns regarding GenAI among the banking community, particularly related to data protection, with 86% of respondents highlighting it as a major issue. Other concerns include compliance with legal requirements, cited by 60% of respondents, and the risk of GenAI generating inaccurate results, known as ‘hallucinations’, which worries 59%.
Isabelle Guis, Chief Marketing Officer at Temenos, commented on the survey’s outcomes: “This survey highlights both the enthusiasm and challenges banks are facing as they explore GenAI. There’s huge potential for GenAI to enhance efficiency, address operational challenges, and elevate the customer experience. However, concerns around data privacy, legal requirements and accuracy remain top of mind. GenAI is not a silver bullet banks also need to balance a human touch in the process to ensure that interactions remain differentiated and build trust with their customers.”
Looking to the future, a substantial 73% of survey participants believe that Agentic AI AI systems capable of making decisions and taking actions independently will be transformative for the banking industry. As part of its commitment to fostering this technological evolution, Temenos has embraced flexible deployment options, enabling banks to implement its GenAI solutions across cloud, SaaS, or on-premises infrastructure. Temenos also announced a significant collaboration with NVIDIA to enhance the performance of on-premises GenAI, ensuring superior speed, precision, and data privacy.
Foliume raises $1m seed round to enhance AI-driven insurance distribution
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 the European expansion of Foliume’s AI assistants.
These tools are designed to improve efficiency for brokers, agents, and bancassurance teams by streamlining processes such as quotes, policy renewals, and customer service.
Foliume is focused on tackling long-standing inefficiencies in the insurance sector. Traditional intermediaries often struggle with cumbersome workflows, from manually comparing quotes to handling slow policy renewals.
The company’s AI-powered automation aims to eliminate these bottlenecks, reducing quoting and renewal times from hours to minutes. By handling repetitive tasks such as form-filling and policy comparisons, the platform allows brokers to concentrate on high-value activities like client advisory and closing deals.
The funding will accelerate Foliume’s European expansion and improve its AI capabilities. The company plans to enhance its AI engine, introduce client-requested features, and establish strategic partnerships in key markets.
The goal is to further optimise insurance distribution by making quoting and policy renewal processes faster and more accurate.
Foliume’s platform is designed to integrate seamlessly into existing brokerage operations. It automates the quote-gathering process by aggregating and comparing offers from multiple insurers, accessible via WhatsApp, email, or API.
Additionally, its AI reduces human errors by auto-filling forms and validating data across documents. The system also streamlines policy renewals by automatically re-rating policies and identifying the best available alternatives.
Unlike general-purpose AI models, Foliume’s technology is tailored specifically for insurance, ensuring precise interpretation of industry terminology, coverage details, and underwriting rules.
This level of specialisation allows the AI to deliver more accurate outputs, such as risk evaluations and quote suggestions, improving efficiency and reliability for brokers.
Foliume CEO Martín Fagioli highlighted the company’s mission, stating, “Insurance intermediaries have been stuck with time-consuming processes for too long. Our AI assistants handle the repetitive work – from filling out forms to comparing policies – so brokers can focus on what really matters: advising clients and delivering a great customer experience.”
Pitchdrive Founder and Managing Partner Koen Christiaens expressed confidence in Foliume’s potential, saying, “We backed Foliume because they’re solving a real and urgent problem in the insurance industry. The team has built an innovative SaaS platform that helps brokers modernise their operations, drive efficiency, and unlock new revenue streams. Their rapid growth, strong customer engagement, and clear expansion roadmap showed us a business with both momentum and long-term potential. It’s exactly the kind of B2B SaaS company we love to support at Pitchdrive.”
Augusto Pérez Arbizu, corporate director of risk and insurance at Telefónica, highlighted the strategic importance of the investment, stating, “The investment in Foliume is part of our commitment to driving digitalisation and innovation in the insurance sector. Through this partnership, we not only support the industry’s digital transformation, but also provide insurance professionals with tools that enhance their productivity and effectiveness.”
With this latest backing, Foliume is poised to revolutionise insurance distribution by making it faster, more accurate, and more seamless.
Tietoevry and Version 1 join forces to transform European banking digitalisation
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.
The collaboration is driven by the need to equip banks with the necessary tools to thrive in a rapidly evolving digital environment. European banks are currently facing a crucial period of transformation, where adapting to changing market demands and customer expectations is vital for survival and growth. This partnership promises to deliver secure, resilient, and agile financial services by leveraging a flexible software ecosystem that can quickly respond to these changes.
Tietoevry Banking brings to the table decades of experience in delivering financial software that has been crucial in the digitalisation of tier-1 banks, especially in the Nordics. The company’s modular SaaS solutions have been instrumental in helping financial institutions enhance customer personalisation, optimise digital channels, and maintain rigorous regulatory compliance.
On the other hand, Version 1 offers a wealth of experience in digital transformation, having engaged in significant projects with banks in key markets like the UK, Ireland, and Spain. Their expertise is expected to complement Tietoevry’s offerings by introducing enhanced AI capabilities and innovative solutions for fraud prevention and financial crime monitoring.
The partnership strategically targets growth in the UK, Ireland, and Spain, aiming to provide European banks with access to top-tier fraud prevention and financial crime solutions. Additionally, it will bolster capabilities in the card value chain, focusing on modular and industrialised card issuing and production solutions.
A key aspect of the partnership is its commitment to fostering a culture of innovation and collaboration. This environment enables banks to not only keep pace with technological advances but to lead in delivering modern, customer-centric experiences. By combining Tietoevry’s leading-edge SaaS solutions with Version 1’s industry-leading expertise, the partnership equips financial institutions to navigate the digital landscape effectively.
Tietoevry Banking managing director Endre Rangnes said, “Our 50 years of experience in financial software has taught us how to help banks thrive in a time of accelerated change. Our modular SaaS solutions empower financial institutions to drive domain transformation while continuing to run their core business effectively. Partnering with Version 1 allows us to extend these capabilities to more European banks, helping them build resilience, amplify efficiency, and deliver superior customer experiences.”
Version 1 head of private sector sales Martin McDonagh added, “We evaluated several partners to find the right strategic fit and identified Tietoevry Banking as an ideal match for our ambitions. We have already engaged in promising discussions with banks in the UK, Ireland and Spain, and we’re excited to see this partnership gain further momentum in these key markets.”
Flagright secures $4.3m to enhance AI-native AML solutions in FinTech
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 utilizing AI to tackle financial crimes, a critical need in today’s tech-driven financial landscape. Historically, financial institutions have faced challenges such as the notorious $25m fraud incident in Hong Kong, involving deepfake technology. Such incidents underscore the growing sophistication of financial fraud, which increasingly involves AI technologies. Reports indicate that in 2023, deepfake usage in FinTech surged by 700%.
Flagright was founded in 2022 by Baran Ozkan and Madhu Nadig after they identified a gap in the market for effective, efficient, and high-quality financial compliance services. The founders aimed to create a solution robust enough to meet their own high standards as consumers. The platform initially focused on real-time transaction monitoring but has since evolved into a comprehensive suite of AML compliance tools, thanks to advancements in AI and machine learning language models (LLMs).
Today, Flagright offers an innovative ecosystem that includes dynamic risk scoring, automated case management, real-time transaction monitoring, and AML screening. It boasts integration with top-tier data providers like LSEG and Dow Jones, ensuring its compliance capabilities are second to none. The platform is renowned for its banking-grade reliability, delivering 99.99% uptime and real-time data processing in under 700ms. According to user feedback, Flagright has significantly reduced false positives by 93% and decreased manual monitoring efforts by 87%.
With the new funds, Flagright is set to further accelerate its product innovation and global expansion. The company is also introducing a new product family, AI Forensics, which aims to revolutionize compliance workflows in screening, monitoring, governance, and quality assurance. The AI Forensics for Screening tool has already shown promising results, reducing false positives by 93% and cutting down alert investigation times by 80%.
Flagright CEO Baran Ozkan expressed enthusiasm about the funding, stating, “This investment not only validates our vision but also equips us to scale new heights in AI-powered compliance solutions.”
Previously, Flagright had garnered support from influential investors like Y Combinator, Pioneer Fund, and Moonfire Ventures, who have reaffirmed their confidence in the company’s direction by contributing to the latest funding round.
Vanquis Banking Group teams up with FinScan to boost AML capabilities
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 is to further strengthen Vanquis’s AML procedures and overall financial crime risk management strategies. By integrating FinScan’s cutting-edge technology, Vanquis aims to enhance its capabilities in monitoring and managing financial crime risks effectively.
FinScan stands out in the market for its unified platform that supports both real-time and retrospective name screening. This technology allows banks to centralize their AML processes, which is crucial for improving operational efficiency and extending customer visibility. FinScan’s advanced, customizable matching technology not only delivers higher accuracy and scalability but also incorporates diverse data sources to facilitate more comprehensive risk assessments.
The partnership is poised to significantly advance Vanquis’s resilience against financial crimes, reinforcing its commitment to customer-centric innovation. FinScan’s solutions are tailored to meet specific banking needs, such as simplifying simulation matching for KYC onboarding and ongoing monitoring, which are essential for maintaining high standards of compliance and operational efficiency at Vanquis.
Paul Blackmore, head of financial crime at Vanquis Banking Group, emphasised the importance of the partnership, stating: “At Vanquis, compliance and operational efficiency are core to our commitment to responsible lending. Partnering with FinScan allows us to harness advanced technology that aligns with our business goals. Its scalability, configurability, and centralized capabilities make it the ideal solution to optimize our AML processes and support our growth.”
Steve Maul, chief revenue officer at Innovative Systems, Inc., also commented on the collaboration: “Unlike off-the-shelf solutions, FinScan offers tailored AML compliance capabilities designed to meet the bank’s specific needs, including simplifying simulation matching for KYC onboarding and monitoring. This partnership marks a significant step forward in further strengthening the bank’s resilience against financial crime while maintaining its unwavering commitment to customer-centric innovation.”