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ComplyControl Launches SafeStart to Empower Fintech Startups with Seamless Compliance
ComplyControl, a UK-based provider of AI-driven compliance technology, has unveiled ComplyControl SafeStart — a specialized initiative aimed at supporting fintech startups across the EU and UK. This new program is designed to empower early-stage companies with the tools and guidance needed to establish trust, accelerate growth, and maintain regulatory compliance from the very beginning of their journey.
Navigating compliance can be especially burdensome for startups, as it often comes with steep costs and operational complexity. Research indicates that small businesses typically spend around $7,000 per employee each year on compliance—substantially more than their larger counterparts. For resource-limited startups, these demands can be overwhelming. Yet opting to delay or bypass compliance can expose startups to far greater risks, including regulatory penalties, diminished investor confidence, broken partnerships, or even the loss of the business itself.
By providing entrepreneurs with an easy-to-use, affordable route to a strong compliance infrastructure, SafeStart seeks to allay these worries. Accepted startups gain full access to ComplyControl’s complete suite of AI-powered tools, including transaction monitoring, sanctions screening, AML and CTF detection, and policy analysis. The offering is designed to be easy to adopt, with no-code configuration and support for up to 50,000 transactions per month at no cost for the first 12 months.
What sets the program apart is not only the technology, which processes transactions in under five seconds and cuts false positives by up to 80%, but also the hands-on support provided by the ComplyControl team. Rather than handing over a complex system and leaving startups to figure things out, the company actively guides them through the setup and ongoing use, helping to build compliance capabilities that can scale with their growth.
ComplyControl founder Roman Eloshvili emphasizes that SafeStart is about removing barriers. As compliance grows increasingly intricate, he sees the program as a way to let fintech innovators focus on product development while ComplyControl handles the regulatory complexity.
Pioneering the Future: EquiLend Expands with Trading Apps Acquisition
EquiLend has taken a major step forward in its mission to lead innovation in securities finance by acquiring Trading Apps, a front-office technology provider recognized for its advanced automation tools and modular trading solutions. These tools are widely adopted by top-tier securities finance desks around the world and are known for improving operational efficiency and trading precision.
This acquisition reinforces EquiLend’s long-term vision to enhance and unify the entire securities finance lifecycle—from front-office trading to post-trade operations—by embedding intelligent automation and adaptability at every level. With the integration of Trading Apps’ cutting-edge technology, EquiLend broadens its product offering and delivers added flexibility for clients who can choose to use these tools as standalone solutions or as part of a fully integrated suite.
A variety of cutting-edge front-office solutions created by Trading Apps increase automation and trading speed in the securities financing industry. Among these, the Lender and Borrower Apps stand out for their ability to streamline workflows, improve rate negotiations, detect short positions, and optimize profitability. These tools empower traders by significantly cutting down on manual tasks, boosting capacity for higher trade volumes, and enabling greater control over key decisions in lending and borrowing.
As part of the acquisition, EquiLend also gains TA.Link, Trading Apps’ trade messaging solution, which will now serve as the resiliency component for EquiLend’s Next Generation Trading (NGT) platform. Designed with complete infrastructure independence, TA.Link ensures operational continuity without introducing systemic dependency risks.
Rich Grossi, the CEO of EquiLend, was excited about the acquisition, pointing out that Trading Apps’ experience improves the EquiLend platform’s value proposition by quickening the automation trend. Trading Apps CEO Matthew Harrison emphasized the strategic alignment and future potential this collaboration unlocks. Nick Delikaris, EquiLend’s Chief Product Officer, highlighted how the acquisition supports the goal of building a unified, intelligent infrastructure for the entire securities finance sector.
Equifax and Qlarifi Team Up to Analyze the Role of BNPL Data in Credit Decisions
Equifax®, a global leader in data, analytics, and technology, has teamed up with Qlarifi, the first real-time consumer credit database specifically designed for Buy Now, Pay Later (BNPL) lending, to conduct a groundbreaking joint study. The focus of the study is to evaluate how the inclusion of Buy Now, Pay Later data affects credit risk assessments and fraud prevention efforts. This collaboration aims to bring much-needed insight into the growing BNPL market, where over half of U.S. consumers currently utilize BNPL services, and a significant portion—35%—plans to increase their usage in the coming years.
As BNPL usage continues to rise, both Equifax and Qlarifi recognize the urgent need to study the predictive capabilities of real-time Buy Now, Pay Later data. The joint research will mark the first U.S.-based industry-wide study that incorporates live BNPL data from multiple providers, assessing its impact on credit evaluations and its potential to detect and prevent fraud. By offering this in-depth analysis, the two companies aim to provide lenders and financial service providers with valuable data to optimize decision-making processes.
Qlarifi’s platform is uniquely designed to handle short-term credit, giving lenders a secure and efficient means of tracking BNPL transactions across providers in real-time. This technology enables lenders to access detailed, up-to-the-second insights into consumer borrowing behaviors, helping to detect issues like loan stacking and offering transparency into BNPL usage patterns.
Jake Osborne, Senior Vice President and General Manager of Fintech and Payments at Equifax, emphasized that the collaboration with Qlarifi and multiple BNPL providers will ultimately help the industry identify strategies to reduce loan stacking risks and improve the predictive capabilities of Buy Now, Pay Later data, all while benefiting consumers.
Understanding how this data influences loan decisions has become crucial for lenders as more consumers use BNPL services. Traditional credit reports remain a cornerstone for evaluating financial reliability, but the study will also explore how BNPL data can offer additional insights, identify early signs of financial strain, and protect consumers from overextending themselves. By incorporating Buy Now, Pay Later data into credit decisioning, the study could also enhance access to credit for individuals with limited or no traditional credit history. According to Alex Naughton, CEO of Qlarifi, this study will be an important step in providing a more thorough and transparent picture of BNPL behavior, assisting consumers and lenders in making more informed choices.
Bybit and Tether Unite to Drive Crypto Adoption in Brazil
Bybit, recognized as the world’s second-largest cryptocurrency exchange by trading volume, has entered into a strategic partnership with Tether, the leading digital asset company and issuer of USD₮, the most widely used stablecoin globally. The collaboration focuses on accelerating cryptocurrency adoption in Brazil through a combination of institutional partnerships, sponsorship of major events, and expansive educational programs.
An important aspect of this partnership is the joint sponsorship of Blockchain Rio, one of the biggest blockchain events in Latin America. New users who sign up on the Bybit platform during the event will receive a special bonus in USD₮, a move intended to attract and engage first-time users with the digital asset ecosystem. To translate the partnership into real-world utility, Bybit and Tether are in active discussions with Visit Rio to explore integrating cryptocurrency into the tourism sector. In order to make Rio a crypto-friendly and creative vacation destination, the idea suggests offering incentives and discounts in USD₮ to tourists who wish to use digital assets for a variety of services, excursions, and purchases at local businesses.
Looking ahead, Bybit is set to roll out a nationwide educational initiative to raise awareness and support responsible cryptocurrency usage. This will involve “Learn and Earn” campaigns, rewarding users for completing courses on blockchain and digital assets. These efforts will be reinforced through in-person events such as workshops, seminars, and university engagements aimed at educating students, developers, and entrepreneurs.
Earlier this year, Bybit appointed Israel Buzaym as the Country Manager for Brazil. Since his appointment, the company has rapidly expanded its footprint in the region and launched localized offerings like Bybit Pay and Bybit Card, helping bridge the divide between traditional finance and digital currency. With Tether’s market cap surpassing $114 billion, the partnership marks a significant step toward mainstreaming cryptocurrency use in Brazil.
Splitit and Samsung Revolutionize In-Store Payments with New Wallet Integration
Splitit has joined forces with Samsung to introduce a groundbreaking installment payment feature within Samsung Wallet. This collaboration brings users the ability to make in-store purchases and pay over time, utilizing their existing credit cards directly at the point of sale. This marks a major milestone, as it’s the first time an installment option is natively integrated into Samsung Wallet, offering a seamless and accessible way for consumers to manage their payments without the need for new credit applications or additional checks.
Samsung Wallet, which is already trusted by millions of people to store IDs, boarding passes, credit cards, and other documents, now offers even more financial functionality. According to Drew Blackard, Senior Vice President of Mobile Product Management at Samsung Electronics America, this new feature empowers users to take greater control of their spending by spreading costs over time, all while staying within the familiar Samsung Wallet environment.
Consumer preference is already shifting toward this model. Findings from the J.D. Power 2025 U.S. Buy Now, Pay Later Satisfaction Study indicate that card-linked installment plans outperform traditional BNPL services in terms of customer satisfaction. Now, with this new Samsung Wallet feature, eligible users can split their payments into manageable portions, directly from their phone, while shopping in-store.
Splitit’s CEO, Nandan Sheth, emphasized the significance of this innovation, pointing out that while in-store shopping dominates U.S. consumer spending, installment solutions have largely been limited to online platforms—until now. With this partnership, Splitit is changing the landscape by making card-linked installment payments available in physical stores through Samsung Wallet, delivering convenience to customers and a powerful sales tool for merchants.
This new installment function will be made available to owners of Samsung Galaxy smartphones, including those with the Galaxy Z Fold7 and Z Flip7, in a few U.S. states starting on July 25, 2025. Users simply need to link an eligible Mastercard or Visa credit card to access this flexible, in-wallet payment solution, designed to make everyday spending easier and more budget-friendly.
PayPal World Unites Global Wallets: A New Era for Cross-Border Payments
PayPal has announced a groundbreaking global initiative—PayPal World—which brings together many of the world’s major digital wallets and payment systems on a unified platform. The launch begins with interoperability between PayPal and Venmo and includes partners representing close to two billion users worldwide. This strategic move aims to revolutionize how people send money, shop both online and offline, and engage in commerce using AI agents across international borders.
For consumers, PayPal World removes the barriers often faced when trying to shop or transfer money internationally. While domestic wallets are widely used within countries, they have traditionally been limited when it comes to cross-border functionality. PayPal World changes this by allowing users to pay international businesses using their local wallets and currency, offering smooth access to millions more merchants. Consumers will also be able to transfer money globally with greater ease, making cross-border interactions as simple as local ones.
Businesses, on the other hand, benefit from automatic access to a massive user base with no need for additional tech development. Instead of building separate integrations for every payment method, merchants will now be connected to a growing global network through a single platform. This expands their reach, improves checkout experiences, and enables them to cater to international customers with ease—whether online, in-store, or via AI-powered shopping assistants.
PayPal World is built as a flexible, cloud-native solution with open APIs and a multi-region deployment model, ensuring global availability with low latency. It’s designed for seamless expansion, letting new wallets and payment platforms join without friction. As digital commerce evolves, the platform is positioned to integrate advanced technologies such as dynamic payment buttons, stablecoins, and AI-driven shopping interactions.
NPCI International Payments (UPI), PayPal, Tenpay Global, Venmo, and Mercado Pago are among the early launch partners. Thanks to the arrangement, PayPal and Venmo will be able to send money to each other from anywhere in the world for the first time. Venmo users will soon be able to purchase overseas at establishments that take PayPal.
Whether it’s making everyday purchases abroad or sending a birthday gift across continents, PayPal World aims to make global commerce as familiar and effortless as a local transaction. The rollout is set to begin this fall, with more partners expected to join over time.
Smarter Lending Begins with Real-Time Debt Data: Algebrik AI and Spinwheel Partner for AI-Driven LOS Innovation
Spinwheel, a prominent leader in real-time consumer credit data and AI-powered payments, has formally announced a strategic partnership with Algebrik AI Inc., a Delaware-based business based in New York City that is credited with creating the first cloud-native, AI-driven, digital-age Loan Origination System (LOS) in history. This partnership is a major step in changing the lending landscape and comes after Spinwheel’s recent ~$30 million Series A funding round. Through this partnership, Spinwheel’s advanced credit data solutions will be seamlessly embedded within Algebrik One — Algebrik’s comprehensive lending platform that integrates Digital Account Opening, the Lender’s Cockpit (LOS), Omni-channel Point-of-Sale (POS), an AI-powered Decision Engine, and Portfolio Analytics. Credit unions, community banks, and fintech lenders can now easily access verified consumer debt information and payment features in real-time within their lending workflows thanks to this native integration, which speeds up loan approvals, improves borrower experiences, and boosts decision-making confidence.
The collaboration transforms the lending process by embedding Spinwheel’s debt APIs into Algebrik’s platform, enabling lenders to collect real-time, verified credit data using just minimal borrower information like a phone number and birthdate. This grants immediate visibility into liabilities across various categories, including credit cards, student loans, mortgages, auto loans, personal loans, and non-traditional credit sources. By eliminating the need for manual documentation, the partnership significantly reduces processing errors and friction in loan applications. Spinwheel’s agentic AI and API tools will now work directly within Algebrik’s LOS, enhancing credit risk assessment, streamlining compliance, refining underwriting workflows, and providing borrowers with a more seamless experience.
Commenting on the partnership, Pankaj Jain, Founder and CEO of Algebrik AI, highlighted that embedding real-time debt data into the lending journey empowers lenders to make more responsible and data-driven decisions. He noted that with Spinwheel integrated into Algebrik One, lenders gain not just better data but payment-enabled workflows and a holistic understanding of borrower obligations, fundamentally reimagining frictionless and intelligent lending. Tomás Campos, Co-Founder and CEO of Spinwheel, echoed this sentiment, stating that the collaboration advances their mission of enhancing financial outcomes for both lenders and borrowers by delivering more accurate and actionable credit insights within the borrowing experience.
Algebrik AI’s platform is designed specifically to modernize loan origination for today’s digital-first generation. Its focus is on helping credit unions remain competitive while engaging and retaining members in a rapidly evolving financial landscape. Algebrik AI allows credit unions to emphasis on helping their communities by streamlining intricate operations and automating the lending process. Meanwhile, Spinwheel continues to disrupt the consumer credit space by partnering with financial institutions to provide real-time, verified credit data and integrated payment capabilities through its APIs and AI-powered solutions. With a rapidly expanding user base and significant debt volume managed across its network, Spinwheel is positioned as a transformative force in modern credit management.
Fidelidade Secures ‘A’ Credit Rating from S&P, Reinforcing Global Market Leadership
Following a formal evaluation by Standard & Poor’s (S&P), a well-known credit rating agency with a stable outlook, Fidelidade – Companhia de Seguros, S.A. and its reinsurance branch, Fidelidade RE – Companhia de Resseguros, S.A., were given long-term Issuer Credit Ratings (ICR) and Financial Strength Ratings (FSR) of ‘A’. This rating reflects S\&P’s confidence in Fidelidade’s continued market leadership, both within Portugal and across its international operations, over the next two years. The agency expects the company to sustain its robust capital strength and consistent profitability, underpinned by steady growth and prudent risk management practices.
Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. Leveraging its dominant 30% market share in Portugal alongside its expanding presence in markets such as Peru, Chile, various African nations, and parts of Asia, Fidelidade has strategically positioned itself as an international insurance leader. In 2024, the company demonstrated strong financial results, achieving a 12.6% increase in insurance revenues and generating a net income of EUR 173.5 million. A noteworthy indicator of its financial resilience, Fidelidade’s Solvency II ratio reached an impressive 194% at the close of 2024, affirming its stable profitability and solid capital reserves. Its international business activities now contribute 30% to total premiums, underscoring meaningful progress in its globalization strategy.
Fidelidade’s geographically dispersed insurance portfolio and varied revenue streams were highlighted in S&P’s study. This achievement marks Fidelidade’s second major credit rating milestone within a short period. Back in September 2024, Fitch Ratings upgraded Fidelidade’s ratings to A+ for Insurer Financial Strength (IFS) and to A for Issuer Default Rating (IDR), both with a stable outlook—a rating that stood as the highest ever awarded to a Portuguese company at the time.
Rogério Campos Henriques, CEO of Fidelidade, commented that this recognition from two leading global agencies is a testament to the company’s disciplined financial management and its ongoing focus on delivering value to customers, shareholders, and partners.
Saifr and Adobe GenStudio forge alliance for compliant FinTech marketing
Saifr has announced its integration with Adobe that aims to redefine compliant content creation within the financial services industry.
As part of the Adobe Experience Cloud as an Adobe Technology Partner, Saifr provides advanced AI compliance solutions that serve as a compliance guardrail for generative AI content, helping users manage their risk and enhance the speed to market of their content.
The reason for the partnership is to leverage Saifr’s AI technology within Adobe’s platform to streamline the creation of compliant content, particularly in the highly regulated financial services sector. This integration aims to enable marketers to use generative AI safely and in accordance with regulatory guidelines.
Saifr specialises in AI-driven compliance solutions that monitor and guide the creation of digital content in line with regulatory standards. Their tools act like a spell-check for compliance, detecting potential risks and suggesting amendments that align with guidelines from regulatory bodies like FINRA and the SEC.
Adobe offers a range of digital marketing and media solutions. Their GenStudio for Performance Marketing provides tools for marketers to create, manage, and optimise their content effectively across various digital platforms.
The integration enhances Saifr’s presence within Adobe’s ecosystem, expanding their reach and capabilities in the digital marketing space. It follows a previous collaboration where Saifr AI models were included in the Microsoft Azure AI Foundry model catalogue.
Saifr’s Retail Marketing Compliance and Suggested Language models are now accessible within Adobe GenStudio, allowing for an in-tool compliance review that aligns with the needs of financial marketers and complies with stringent industry regulations.
“Marketers are increasingly using generative AI in their work, which can introduce business risk, particularly in regulated industries, such as financial services,” Saifr CEO Vall Herard said. “Saifr’s integration with Adobe enables marketers to take advantage of a powerful new technology’s outputs in a way that prioritizes safety and can help facilitate compliance with regulatory guidelines.”
“Microsoft is committed to empowering organisations through industry-specific solutions that address their unique needs,” Microsoft Corporate Vice President Satish Thomas said. “Our collaboration with leading industry partners, such as Saifr, to offer partner-enabled adapted AI models in the Azure AI Foundry model catalogue gives organisations the ability to access, build and deploy AI solutions quickly and efficiently. This approach accelerates time-to-value and fosters a robust ecosystem of innovation that helps organisations across industries transform their operations and achieve new levels of success.”
PIMFA and Morningstar launch AI Tech Sprint to transform wealth management
PIMFA WealthTech, the innovation arm of the Personal Investment Management & Financial Advice Association (PIMFA), has partnered with Morningstar to launch a new AI-focused Tech Sprint, aimed at solving key operational challenges in the wealth management sector.
The competition offers FinTech firms the opportunity to present their AI solutions at the Morningstar Investment Conference UK, taking place on 7 May 2025.
As generative artificial intelligence continues to reshape the financial landscape, wealth and financial advice firms face growing pressure to integrate AI effectively. Yet challenges remain around access to high-quality data, rigorous evaluation frameworks, and seamless integration with existing systems. The Tech Sprint has been designed to address these barriers while accelerating innovation in the sector.
This year’s sprint poses a central question to participating FinTechs: how can AI be used to enhance operational efficiency by streamlining processes across front, middle, and back-office functions in wealth and financial advice firms?
Participants are encouraged to explore several high-impact use cases. These include AI-powered onboarding and KYC checks that automate identity verification and fraud detection, improved compliance through automated suitability reviews, hyper-personalised client reporting, and even the automation of entire software development cycles.
To support their development, FinTechs taking part will receive access to Morningstar’s Intelligence Engine. This advanced platform enables the end-to-end development of generative AI applications, offering a robust suite of evaluation metrics, integration tools, and direct access to Morningstar’s vast data sets. External data sources can also be added through API and direct storage connections.
PIMFA WealthTech outgoing chair and Evelyn Partners group chief operations officer Mayank Prakash said, “PIMFA WealthTech was created to be at the forefront of innovative thinking around tech solutions that can open up substantial opportunity for our industry. As Chair of the advisory council, I can think of no better example of this than the Tech Sprint we are launching today on AI.
“AI is undoubtably not only a major change moment in the wealth and advice space, but globally as well, impacting all of our lives. This sprint will give fintechs the opportunity to leverage Morningstar’s specialist data and analytics to delve into use cases, exploring opportunities for innovation that could bring meaningful improvements to the client journey by increasing adviser productivity and reducing end-to-end costs. I greatly look forward to seeing the entries to this Tech Sprint and sharing these fascinating insights with the wider community”.
NatWest and OpenAI join forces to transform banking with cutting-edge AI
NatWest and OpenAI have entered into a partnership aimed at driving substantial transformations within NatWest through advanced AI technologies.
NatWest, known for its comprehensive banking services, seeks to enhance its operational efficiency and customer service through this strategic collaboration. OpenAI, acclaimed for its groundbreaking work in generative AI, brings a wealth of technological expertise and innovative solutions to the table.
The primary motivation behind this collaboration is to streamline and simplify banking processes at NatWest, enhancing customer service across all its divisions. By integrating OpenAI’s advanced AI tools, NatWest aims to meet customer needs more swiftly and effectively, ensuring a seamless banking experience.
NatWest has been at the forefront of incorporating AI in banking, with successful tools like Cora+ and AskArchie+ enhancing customer interactions. OpenAI excels in creating powerful AI solutions that can transform industries. This partnership will focus on further developing digital assistant services to support complex customer tasks such as fraud identification and financial management.
The collaboration also promises to bring new advancements in AI that could revolutionize how NatWest supports its retail, commercial, and wealth management customers. For instance, the partnership aims to refine tools for fraud prevention and improve complaint handling, significantly boosting productivity and customer satisfaction.
Scott Marcar, Chief Information Officer at NatWest Group, emphasized the bank’s commitment to simplification and innovation. “With the needs of customers evolving at an extraordinary pace, it’s our role to be a trusted partner and meet their expectations faster and more effectively than ever before,” he said.
Angela Byrne, CEO of Retail Banking at NatWest Group, also highlighted the digital transformation, “Around 80% of our retail customers bank with us entirely digitally, which is why continually innovating to deliver the best digital experience possible is a non-negotiable,” she stated. The partnership with OpenAI is set to enhance these digital interactions further and provide superior protection against fraud and financial crime.
Giancarlo Lionetti, Chief Commercial Officer at OpenAI, commented on the collaboration, “This wide-scale collaboration with NatWest underscores its commitment to deliver industry-leading digital banking experiences. The first wave of activities will deliver tangible benefits to both NatWest’s customers and employees, while our ongoing work together paves the way for future AI banking innovations.”
With approximately 275 AI projects under exploration and around 25 use cases already in production, the collaboration has significantly improved customer satisfaction and operational efficiency within NatWest, showcasing the powerful impact of GenAI in banking.
Kennedys IQ launches InsurTech’s first neuro-symbolic AI solution for global insurance market
Kennedys IQ, the client-facing technology division of global law firm Kennedys, has introduced SmartRisk, the first fully explainable neuro-symbolic AI risk analysis solution for the insurance sector.
This latest addition to its data-driven IQ Platform aims to revolutionise policy review, liability, and coverage analysis by enhancing decision-making speed, accuracy, and consistency.
The launch of SmartRisk comes in response to increasing industry demand for AI-driven automation in risk analysis and underwriting.
Insurers face ongoing challenges with complex policy wording, inconsistent claims handling, and human error. Many current AI solutions, including generative AI chatbots, lack auditability, making them unsuitable for risk assessment. Kennedys IQ developed SmartRisk to bridge this gap by ensuring transparency and regulatory compliance.
Kennedys IQ provides data-powered technology solutions for insurers, brokers, and claims professionals worldwide.
Leveraging a combination of legal expertise and advanced AI, the company develops tools that streamline processes, enhance decision-making, and improve operational efficiency across the global insurance market.
SmartRisk differentiates itself by combining Large Language Models (LLMs) with insurance-specific knowledge, modelled using Evidential Reasoning (ER) and Belief Rule Base (BRB) methodologies. Unlike traditional generative AI, which relies purely on probabilistic outputs, SmartRisk offers a structured, fully auditable decision-making framework. This approach mitigates concerns around AI’s ‘black-box’ opacity while ensuring reliable and explainable results. The solution does not require extensive upfront data and can integrate seamlessly with insurers’ existing systems within weeks.
Designed for claims professionals, brokers, and underwriters across global insurance markets—including the London Market, specialty and general insurance in the UK, Europe, North America, LATAM, and APAC—SmartRisk enables insurers to automate risk assessments, enhance claims governance, extract critical data from complex documents (including handwritten notes), and reduce inconsistencies in decision-making.
SmartRisk has been developed by Kennedys IQ’s R&D team in collaboration with the University of Manchester and legal experts from Kennedys across multiple jurisdictions. This collaboration has helped create an AI model that effectively combines rule-based logic, deep reasoning, and explainable machine intelligence, making it well-suited for insurance applications requiring high levels of precision and transparency.
Initial pilots of SmartRisk have received positive feedback from leading insurers, with users highlighting the tool’s ability to reduce errors, eliminate inconsistencies in professional judgement, and significantly enhance operational efficiency.
Kennedys IQ chief product officer Karim Derrick said, “SmartRisk is built for the industry, by the industry. This is not just AI for the sake of AI – it’s about giving insurers real, explainable insights that reduce risk and improve efficiency.”
Derrick added, “There is a growing demand for AI-driven automation in insurance, particularly within specialty and complex risk underwriting. Policy wording analysis and claims handling are complex, inconsistent, and prone to human error, and GenAI chatbots today lack auditability, making them unsuitable for insurance risk assessment.
“Our interest is helping clients identify, manage and mitigate risk through the SmartRisk tool which can fill this gap to ensure transparency in decision making and regulatory compliance. In doing so, it eliminates the ‘black box’ concern around other AI models, while improving efficiency, minimising human error and providing insurers and brokers with deeper data-driven insights. Kennedys IQ’s SmartRisk frees up insurance professionals to focus on high-value decision-making while maintaining full control over risk analysis.”
Kennedys partner Neil Mody added, “The SmartRisk U.S. model is designed to help insurance adjusters navigate complex regulatory frameworks, including New York Insurance Law 3420. By mirroring the proprietary coverage evaluation process honed by seasoned professionals over decades, SmartRisk enables adjusters to reliably pinpoint key coverage issues, and make well-informed decisions. SmartRisk empowers adjusters by streamlining claim reviews while reducing high-frequency, high-risk human errors that cost insurance companies millions annually.”
Kennedys partner Richard West, head of client innovation and director of Kennedys IQ, said, “SmartRisk is devastatingly trustworthy and our proprietary response to the AI revolution. Built on our deep professional insights, it seamlessly integrates specialist judgement with cutting-edge technology. It is transparent, explicable, and designed to protect our clients’ and their customers’ reputations. We encapsulate professional integrity at the heart of Kennedys IQ SmartRisk.”
Crossmint secures $23.6m to simplify blockchain for businesses and AI agents
Crossmint, an all-in-one blockchain platform for businesses, has secured $23.6m in a funding round led by Ribbit Capital.
Other investors include Franklin Templeton, Nyca, First Round, and Lightspeed Faction. The investment follows a year of rapid growth, with Crossmint’s subscription revenue surging by 1,100% in 2024.
The company provides businesses with tools to develop blockchain applications using minimal code. Its platform enables companies to integrate wallets, tokenization, payments, and onramps without requiring blockchain expertise or digital asset holdings.
Consumers can engage with blockchain-based services using traditional methods like Face ID and email sign-ups while avoiding gas fees and other technical barriers.
Over 40,000 companies and developers, including global brands like Adidas and Red Bull, already use the platform. Businesses across various sectors are leveraging Crossmint to integrate stablecoins, enhance supply chain transparency, and develop interoperable rewards programmes. Additionally, startups are using the platform to accelerate the creation of blockchain applications.
Crossmint co-founder Alfonso Gomez-Jordana said, “AI agents are reshaping commerce. Soon, they will autonomously manage tasks like grocery shopping or personal styling. Traditional payment systems weren’t designed for AI agents—but blockchain is. Crossmint is building the infrastructure to support this next evolution.”
Ribbit Capital partner Zack Rosen highlighted Crossmint’s impact, stating, “Crossmint has demonstrated its ability to unlock new revenue streams and drive cost efficiencies for major brands while building the financial infrastructure for the next generation of AI-powered applications. We are excited to support Crossmint as they continue enabling enterprises and developers to innovate onchain.”
Nexi enhances contactless payments with Tap to Pay on iPhone in Switzerland and Finland
Nexi, a leading European PayTech, has expanded its Tap to Pay on iPhone functionality to merchants in Switzerland and Finland.
The company, which specialises in digital payment solutions, previously introduced the service in Italy, Germany, Austria, and Sweden, according to FF News.
The expansion aims to provide merchants with a seamless and secure method to accept in-person contactless payments.
By eliminating the need for additional hardware or payment terminals, Nexi is making digital transactions more accessible to businesses of all sizes, especially small merchants.
Nexi offers a range of digital payment solutions across Europe, providing businesses with secure and efficient transaction methods.
With a focus on innovation, the company continues to enhance payment experiences through its SoftPOS technology and mobile-based solutions.
Tap to Pay on iPhone enables merchants to accept various forms of contactless payments, including credit and debit cards, Apple Pay, and other digital wallets, using only an iPhone. The functionality is integrated into the Nexi SoftPOS feature within the MyPayments app, offering a convenient and cost-effective alternative to traditional payment terminals.
The service is particularly beneficial for small businesses, such as takeaways, taxis, and independent service providers, where mobility and ease of use are essential. With real-time transaction management and digital receipt options, Nexi’s SoftPOS solution provides enhanced flexibility for merchants.
Nexi has confirmed plans to continue expanding the availability of Tap to Pay on iPhone to more customers across Europe. The company is committed to driving digital payment adoption and increasing accessibility for businesses in various markets.
Suvi Ruoppa, country general manager of Nets Finland, part of Nexi Group, said, “The activation of Nexi SoftPOS on iPhone in Finland and Switzerland enables more merchants to offer customers enhanced flexibility and choice at the point of sale. This creates an easier and more convenient shopping experience for consumers, creating additional revenue opportunities for businesses of all sizes.”
David Emmanuel Gebhardt, country general manager of Nexi Switzerland, said, “With Nexi SoftPOS on iPhone, we are providing a simple and cost-effective payment solution for small businesses in Switzerland—especially for those who have not accepted card payments before. This is particularly beneficial for merchants such as take-aways, taxis, and independent service providers, where mobility and ease of use is key. By eliminating the need for additional hardware, we are making it easier than ever for merchants to accept contactless payments.”
EquiLend boosts securities finance technology with BNY investment
EquiLend has secured a minority investment from an affiliate of The Bank of New York Mellon Corporation (BNY).
This investment underscores BNY’s commitment to EquiLend’s mission and its innovative technological solutions.
BNY, along with eight other significant financial institutions, has invested in EquiLend to support the firm’s push for greater innovation and efficiency across the securities finance sector. This group of investors will also advise on the development of EquiLend’s solutions, ensuring that the company continues to meet the evolving needs of the industry.
At the core of what EquiLend does is its development of cutting-edge platforms designed to streamline operations and reduce inefficiencies within the securities finance market. A highlight of this innovation is the 1Source solution, a platform set to revolutionise the industry by providing a single source of truth for securities finance transactions through smart contracts on a distributed ledger (DLT).
The funds from this investment will be used to advance the development of 1Source and other projects aimed at enhancing transparency and setting new operational standards across the global market. By leveraging smart technology and DLT, EquiLend is positioned to lead a transformation in market infrastructure, focusing on efficiency and transparency.
Additional information about this partnership includes BNY’s new role among the initial users of the 1Source platform. This involvement highlights BNY’s active participation and support for EquiLend’s long-term strategic innovations.
“BNY has been a strong partner of EquiLend’s since shortly after the company’s founding over 20 years ago. This investment brings added advisory leaders and underscores the commitment to our products and transformative potential of our long-term strategy,” EquiLend CEO Rich Grossi said.
Head of Securities Finance at BNY, Nehal Udeshi, added, “This investment reflects our confidence in EquiLend’s ability to tackle the industry’s biggest challenges with innovative solutions that drive greater efficiency. We are confident in EquiLend’s central role in the marketplace and plans to further redefine securities finance with innovative market infrastructure.”
Digital wallet firm Curve secures £37m to accelerate growth and launch Curve Pay
Curve, a digital wallet provider known for its innovative approach to payment management, has raised £37m in a funding round led by Hanaco Ventures.
Existing investors, including Fuel Ventures, IDC, Outward VC, and Lord Stanley Fink, also participated in the round.
The fresh capital injection is set to support Curve’s strategic growth, with a strong emphasis on achieving profitability and launching new products in 2025. Among its key developments, the company is preparing to introduce Curve Pay, a digital wallet alternative for both Android and iOS users. The investment will also bolster Curve’s market expansion, infrastructure improvements, and customer experience enhancements.
Curve offers a digital wallet solution that consolidates multiple payment cards into a single platform, allowing users to manage their spending more efficiently. The wallet integrates features such as cashback rewards, real-time spending insights, and fee-free foreign transactions. Additionally, its unique ‘Go Back in Time®’ function enables customers to move past transactions between cards, aiding in cash flow management.
Curve founder and CEO Shachar Bialick said, “This latest investment reflects the confidence in Curve’s vision to redefine the digital wallet space. The Wallet Wars are here, and the only available solutions for customers to date are simple wallets which do nothing more than let you pay with your card.
“Curve is the only wallet that adds superpowers to your money; avoid Fx fees from any linked card, split old purchases into installments, earn cashback on top of any card and more. We see issuers looking to enter the market, and networks introducing innovative products such as Visa Flex and MasterCard One Credentials. This investment would allow us to invest further in our customer experience, bring new partnerships, and accelerate our path to profitability.”
Tomer Jacob of Hanaco Ventures praised Curve’s innovation, stating, “Curve reimagined the digital wallet delivering a one-of-a-kind financial experience that simplifies and supercharges how you pay and manage your money – all without changing your bank. The Curve team has proven to be resilient and innovative, and we are excited to support Curve as it continues to grow, bringing more choice and flexibility to the digital wallet market, and to its millions of users.”