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Strategic Acquisition: EverPeak Insurance Welcomes Method Insurance to its Growing Portfolio
EverPeak Insurance, a subsidiary of Pinnacol Assurance, has announced the acquisition of Method Insurance, a managing general agent (MGA) that serves employers across a wide range of industries. This move strengthens EverPeak’s national reach and complements its existing partnership with Attune, a digital platform that simplifies workers’ compensation and commercial insurance for brokers supporting small businesses.
The acquisition positions EverPeak to better meet the needs of brokers who require seamless, comprehensive solutions for diverse client bases, including those managing unique risks and operating across multiple states. By bringing Method into its portfolio, EverPeak is enhancing its ability to deliver flexible, technology-driven coverage options that evolve with the changing landscape of modern workforces.
“We are thrilled to welcome Method Insurance to our family of brands,” said John O’Donnell, Pinnacol President and CEO. “With the investments we have made in platform technology and workers’ comp solutions, we are creating a best-in-class product that makes it easier than ever for brokers to serve their clients and grow their business.”
This strategic step will expand services, strengthen partnerships, and provide broader insurance options over time, allowing brokers to offer more tailored protection for employers nationwide.
Method Insurance brings with it a strong national distribution network, working with six carriers and more than 5,000 agency partners. The company focuses on improving outcomes for injured workers, employers, and insurers through an integrated model of safety, loss prevention, and claims management. This approach reduces workplace injuries, ensures employees receive quality care, and helps lower the overall cost of claims, especially in industries prone to higher risks.
EverPeak Insurance itself builds on Pinnacol Assurance’s century-long expertise in underwriting, claims, and risk management, delivering comprehensive workers’ compensation coverage for businesses across the United States. Its mission is to protect hardworking businesses, including those with complex or challenging risks, while partnering with brokers committed to providing the strongest protection possible.
Attune, another key part of this ecosystem, continues to empower insurance agents to better serve small businesses by simplifying policy creation and streamlining operations through automation and analytics. Since its launch in 2016, Attune has become a one-stop platform for property and casualty insurance products, including Workers’ Comp by EverPeak™, making it easier and more profitable for agents to say “yes” to small business clients.
Through this acquisition, EverPeak, Pinnacol, and their subsidiaries are solidifying their role as leaders in reshaping workers’ compensation and commercial insurance with technology-driven, customer-focused solutions.
Sphinx’s AI Copilot Cuts Hours from Data Workflows, Raises $9.5M to Scale
Sphinx, a company dedicated to advancing AI for data, has launched with a $9.5 million Seed round and the debut of its AI copilot for data professionals. In addition to officials from Databricks, Windsurf, and Together AI, Lightspeed spearheaded the investment round with backing from prominent business titans like Steve Cohen and Naveen Rao. Bessemer Venture Partners, Box Group, K5, Impatient VC, and others also participated. The funding will support the creation of agentic AI that is native to data and data science processes.
While AI has become an essential part of software development, data science has not yet reaped the same benefits. Data science workflows are much more exploratory and iterative than coding approaches. Sphinx’s Copilot is designed specifically for these challenges, emphasizing accurate data representation, model verification, and evidence-based insights rather than simply generating code or conclusions.
“AI’s role in data analysis is entering a new era, and Sphinx is at the forefront,” said Bucky Moore, partner at Lightspeed. “By focusing on the workflows of data teams, Sphinx’s agents will increasingly take on the labor-intensive tasks of deriving insights. With enterprises under pressure to harness their data for smarter decisions, Sphinx delivers speed and precision that are truly transformative.”
The Sphinx Copilot, available now, collaborates with users to turn raw information into actionable insights through autocomplete and agent-driven reasoning. It can refine forecasts, optimize operations, and drive applications from supply chain planning to sports analytics. Built to integrate seamlessly with environments such as Jupyter notebooks and VSCode, it meets data professionals where they already work.
The CEO and co-founder of Sphinx, Rohan Kodialam, claims that “data is still underserved, despite AI having revolutionized natural language and code”. “Our mission is to innovate at the interface of AI and data, creating real impact for industries like consumer goods, retail, and financial services.”
Sphinx strikes a balance between exploration and value extraction by emphasizing reasoning models and the interpretation of structured and semi-structured data. Its copilot is positioned to serve over 93 million Jupyter users and address a $100 billion market for data insights. Early adopters are already seeing results—Brian Tate, CEO of Oats Overnight, noted that the tool allowed his data scientists to uncover shopper behavior patterns in minutes instead of hours.
Founded by Kodialam, formerly an AI research leader at Citadel, and Jamie Bloxham, an early technology leader at MosaicML, Sphinx emerged from their shared experience of seeing powerful AI models disconnected from real-world data workflows. Their goal is to bridge that gap with research and products that accelerate and elevate the work of data practitioners.
With Payslip Alpha, Payslip Launches Its First AI-based Payroll Software Suite
Payslip, the Global Payroll Control Platform trusted by multinational organizations to standardize, automate, and scale payroll operations, has announced the launch of Payslip Alpha, an advanced suite of AI-driven features that redefines the future of payroll technology.
The release of Payslip Alpha is the result of five years of focused investment and development in artificial intelligence. From the outset, Payslip has championed data standardization and centralization, creating a strong foundation that enables AI to deliver automation with uncompromising accuracy, transparency, and security. Payslip Alpha, in contrast to generic AI models, was developed specifically for payroll and offers accurate, safe, and payroll-specific solutions that complement payroll professionals’ job rather than take their place. Companies including Cloudera, EQT, and Booking.com already have access to Payslip Alpha, with early adopters reporting efficiency gains of up to 92% across various payroll functions.
At the core of Payslip Alpha lies its integration with centralized and harmonized data, which transforms the way payroll is executed. Unlike large, generalized language models that are prone to errors or inconsistencies, Payslip Alpha is designed to address defined payroll use cases. Each feature has been thoroughly vetted and tested with the goal of empowering payroll teams, enabling AI to deliver practical, meaningful value. The technology is especially impactful in organizations that have already resolved data challenges and are supported by strong domain expertise.
Among its capabilities, Payslip Alpha introduces task-focused tools that streamline routine operations, such as mapping or categorizing pay elements, freeing payroll teams to concentrate on more strategic activities. It also automates processes that have historically consumed significant time, like running validation reports, helping teams achieve faster and more accurate payroll execution. Additionally, the platform offers real-time data analysis to detect anomalies and surface actionable insights, many of which might otherwise go unnoticed.
“Over the past decade, we have been preparing the groundwork for AI,” said Fidelma McGuirk, Founder and CEO of Payslip. “We created a foundation that currently supports safe, useful AI by collaborating with our clients to standardize and harmonize their payroll data. Payslip Alpha is designed with purpose, grounded in years of platform development and industry expertise, and its features are already making time-consuming tasks up to 70% faster. This is AI that delivers measurable impact and empowers payroll professionals.”
The development of Payslip Alpha was based on complete accountability and openness. Payroll teams remain in control, with the ability to enable or disable features in line with their internal AI policies. The technology enhances their capabilities while safeguarding oversight, allowing payroll professionals to focus on strategic priorities.
Payslip continues to deliver automation, integration, and intelligent solutions through its Global Payroll Control Platform, and with Payslip Alpha, it is shaping the next chapter in global payroll innovation.
Next-Gen Spend Control: SutiSoft Links Expense Management with AI-Driven Analytics
SutiSoft Inc., a recognized leader in integrated business management platforms, has announced the seamless integration of its Travel Expense Management solution with its advanced Analytics platform, a move designed to give finance teams and business leaders a new level of visibility, control, and actionable intelligence over organizational spending. This powerful integration brings together expense reporting and AI-driven analytics to simplify decision-making and uncover deeper financial insights in real time.
SutiSoft’s Expense Reporting solution now incorporates dynamic dashboards, customizable reporting features, and predictive analytics directly within the platform, enabling users to evaluate expense data as it happens. By combining these capabilities with the strength of the Analytics solution, organizations gain the ability to respond faster, optimize spend categories, and identify cost-saving opportunities with greater accuracy. The integration highlights SutiSoft’s commitment to empowering enterprises with tools that turn raw data into meaningful business outcomes.
According to N.D. Reddy, CEO of SutiSoft Inc., the addition of the Analytics solution to the Expense platform delivers highly contextualized insights, allowing businesses to track spending behaviors, analyze category breakdowns, monitor policy compliance, and access real-time KPIs tailored for stakeholders across the enterprise. Advanced AI and machine learning capabilities further elevate the platform by uncovering hidden patterns, forecasting future expenses, and generating proactive alerts when out-of-policy or potentially fraudulent transactions occur.
In addition to advanced visualization and predictive analysis, the integration extends financial intelligence across business functions, enabling organizations to sync expense data with applications in travel, accounts payable, and human resources. This provides a comprehensive, 360-degree perspective of enterprise financials, ensuring that decision-makers have access to consistent, accurate, and actionable information.
By introducing this integration, SutiSoft reinforces its vision of delivering modular, AI-powered business solutions that are connected, scalable, and designed to enhance operational efficiency. The result is an ecosystem that not only simplifies expense management but also drives measurable outcomes across the enterprise.
SutiSoft continues to serve thousands of customers worldwide with its suite of cloud-based platforms and modular applications, offering innovation, scalability, and security to organizations across industries.
In order to accelerate innovation in private markets technology, Juniper Square announces a strategic investment from Nasdaq Ventures
Juniper Square, a leading fund operations partner supporting more than 2,000 private markets general partners (GPs), announced a strategic investment from Nasdaq Ventures aimed at accelerating innovation in private markets technology. Alongside the investment, Nasdaq (Nasdaq: NDAQ) and Juniper Square will enter into a strategic partnership to explore opportunities that advance integrated data solutions and expand liquidity options for private fund managers. This announcement comes on the heels of Juniper Square’s $130 million Series D financing revealed in June, underscoring the company’s growing influence in transforming private markets infrastructure.
“For over ten years, Juniper Square has dedicated itself to helping general partners build firms that stand the test of time,” said Alex Robinson, CEO and Co-Founder of Juniper Square. Nasdaq is in agreement with our goal of private markets that are more accessible, transparent, and efficient. By pairing world-class financial data with purpose-built software, we can create the industry’s go-to platform for raising and managing private capital.”
With private market investment expanding at an unprecedented pace, GPs increasingly require advanced, next-generation data solutions to gain real-time visibility and supercharge their fundraising and capital deployment strategies. Through this collaboration, Juniper Square and Nasdaq will focus on new opportunities to equip GPs with critical tools for modern fund management while also working to improve secondary market liquidity, a growing area of innovation in private markets.
“Private markets are in the midst of a generational shift, where data-driven insights and technology-enabled operations are becoming essential to the way firms raise, allocate, and manage capital,” stated Gary Offner, Nasdaq Ventures’ head and senior vice president. “We are pleased to support Juniper Square’s vision and expansion, as they have developed a ground-breaking platform that streamlines fund operations for general practitioners.”
This investment and partnership mark a major step forward in Juniper Square’s mission to deliver AI-powered solutions, fully integrated services, and specialized infrastructure that redefine efficiency and transparency for private markets on a global scale.
Payroc and Cinfed Credit Union Join Forces to Deliver Advanced Payment Solutions
Payroc, a leading global payments company, is pleased to announce a strategic partnership with Cinfed Credit Union, a trusted financial institution serving both businesses and consumers throughout Greater Cincinnati, Ohio. This collaboration, effective September 1, 2025, marks the beginning of a new chapter in delivering seamless and advanced payment processing solutions to Cinfed’s business clients.
Through this partnership, Payroc will provide a comprehensive suite of merchant services designed to help businesses operate efficiently and securely. These solutions will encompass smart point-of-sale systems, online payment options, electronic invoicing through both email and text messaging, as well as compliant cost-saving programs including cash discounting and surcharging. In addition, Payroc will offer mobile processing, digital invoicing, same-day funding capabilities, in-depth reporting and analytics, advanced risk monitoring, fraud management tools, and personalized white-glove support.
The initiative highlights the shared vision of Cinfed Credit Union and Payroc to empower merchants by providing tools and services that protect revenue, promote growth, and ensure long-term success. Both organizations are committed to delivering value through innovation while maintaining a personal, client-focused approach.
“Cinfed’s primary mission has always been to serve our members with customized, personal service,” said Milton Jones, Vice President of Card Services at Cinfed. “By partnering with Payroc, we are now able to provide world-class payment technology solutions to our business accounts, and we couldn’t be more excited about the opportunities this creates for our members.”
Chad Stephens, Vice President of Sales and Revenue Growth at Payroc, added, “This partnership extends beyond technology. It is about fostering stronger connections within the community. We are eager to collaborate closely with Cinfed in order to match our combined capabilities with their clients’ demands, paving the road for expansion, creativity, and sustained success.”
From small and midsized businesses to large enterprises, nonprofits, professional service providers, and municipalities, Cinfed’s clients will benefit from tailored payment solutions supported by local service and world-class infrastructure. Every merchant is guaranteed to receive affordable, dependable, and compliant services that change to meet their business needs thanks to this cooperative, high-touch approach.
AI-Powered Oculon Intelligence Aims to Redefine Market Intelligence for Equities and Options
TXSE Group Inc has announced the launch of Oculon Intelligence, an AI-native market intelligence software platform created to help market participants strengthen compliance, manage risk, and enhance performance while improving investor outcomes. Developed in close collaboration with leading financial institutions, the platform delivers an integrated suite of execution analytics, regulatory reporting, and cross-market surveillance designed to improve efficiency, protect investors, and support overall market quality.
With data protection and security embedded at its foundation, Oculon Intelligence is initially targeting equities and options markets. Its capabilities include high-frequency data ingestion and advanced analytics that allow firms to refine execution strategies and boost performance. Central to its design are agentic AI tools tailored to market structure and powered by multiple large language models, built specifically for highly regulated institutions.
The platform also addresses compliance with the U.S. Securities and Exchange Commission’s Rule 605 execution quality reporting and Rule 606 order routing disclosure. These requirements are expanding significantly under new SEC rule changes, which will increase both the volume of data and the number of market participants obligated to report. By offering fast, reliable, AI-powered tools, Oculon Intelligence helps firms navigate these changes with confidence.
Oculon Intelligence is led by seasoned industry professionals with decades of experience in equity market structure, order routing, regulation, and financial technology. President Ovi Montemayor brings more than 20 years of leadership from firms such as Charles Schwab, where he oversaw market structure advocacy, trading operations, and order routing functions. He also played a central role in various industry committees and regulatory initiatives. Montemayor emphasized that Oculon Intelligence provides the infrastructure firms need to transform compliance into a competitive advantage while fostering trust, transparency, and fairness across U.S. markets.
Senior Vice President David Saltiel, a former top SEC official, provides support to the executive team. Before this, Saltiel served as acting director and deputy director of the Division of Trading and Markets and as head of the SEC’s Office of Analytics and Research. With a key role in the development of amendments to Rules 605 and 606, he brings deep expertise in regulation and quantitative analysis. He noted that the rapidly evolving competitive and regulatory environment requires flexible tools with uncompromising data protection, and Oculon Intelligence is built to deliver exactly that.
Headquartered in Dallas, a growing hub for AI, technology, and financial markets, Oculon Intelligence operates as an independent division of TXSE Group Inc.
A strategic partnership between Swiss-based YouHodler and the Torino Football Club is extended
The partnership between YouHodler, a Swiss Web3 platform that links traditional and digital banking, and Torino Football Club, an Italian Serie A side, has been renewed. The collaboration, which began in 2022, now enters its fourth season, highlighting a shared commitment to resilience, tradition, and innovation at the intersection of sports and fintech.
Since its inception, the partnership has aimed to connect fintech innovation with one of Italy’s most historic football clubs. Together, YouHodler and Torino FC have increased awareness of Web3 services in Italy, while providing fans with interactive experiences that combine the excitement of football with next-generation financial tools. The collaboration has included events at Torino Stadium, such as the annual Crypto Summit, offering fans the chance to engage with players and participate in social activities.
“Many crypto-sports partnerships are short-lived, but our relationship with Torino FC has continued to strengthen,” said Ilya Volkov, CEO and co-founder of YouHodler. “Torino’s history of resilience inspires us. Just as the club has endured challenges and remained loyal to its supporters, we are building a financial platform rooted in trust, reliability, and long-term vision. A journey rather than a season is the focus of this cooperation.”
The alliance reflects a deep, long-lasting Italian-Swiss relationship, built on mutual respect for tradition and innovation. Matteo De Angelis, YouHodler’s Italy country manager, noted that fans increasingly recognize and engage with the brand, feeling part of Torino’s extended family. He emphasized the alignment between the two organizations, with YouHodler combining digital asset innovation and traditional financial expertise, mirroring Torino’s ability to innovate while honoring its historic roots.
This season, fans will notice expanded YouHodler branding throughout Stadio Olimpico Grande Torino, alongside activations that enhance engagement through contests, rewards, and digital experiences. The partnership renewal coincides with Torino’s Serie A Day 2 home match against Fiorentina on August 31, offering supporters an early glimpse of the collaboration in action.
Lorenzo Barale, Commercial Director at Torino FC, stated, “This is more than a sponsorship; it’s a growing bond that blends our tradition with YouHodler’s innovative spirit, delivering real value to fans on and off the pitch.”
The renewal also reflects YouHodler’s broader commitment to Europe’s blockchain and fintech ecosystem, with upcoming participation in events like CV Summit, Plan B Lugano, and Vienna Blockchain Week, further advancing the adoption of Web3 solutions in accessible and meaningful ways.
Torino FC, founded in 1906, is a historic club in Italy with seven Serie A titles and five Coppa Italia trophies. YouHodler offers a comprehensive, regulated platform providing crypto-backed loans, crypto reward accounts, and universal currency exchange, bridging fiat and digital finance with simplicity, efficiency, and transparency.
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.”