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Chubb launches new division for small and lower middle market businesses
Chubb, a global provider of insurance products, has launched a new division, North America Small & Lower Midmarket, to consolidate its Lower Middle Market and Digital Small Business divisions.
The new structure aims to enhance service delivery and streamline operations within this growing segment, according to InsurTech Insights.
Operating under Chubb’s North America Middle Market organisation, the new division is designed to create a more cohesive and efficient approach to serving small and lower middle market businesses.
By combining its expertise in these areas, Chubb intends to simplify processes and improve the experience for clients and partners.
Chubb has appointed Rob Poliseno as division president of Small & Lower Midmarket. He will report to Ben Rockwell, division president of Chubb North America Middle Market. Additionally, Jason Ranucci has been named chief operating officer for the division, reporting to Poliseno. Both appointments take effect immediately.
Poliseno brings over 28 years of industry experience, including nearly 17 years with Chubb. He previously served as division president, Small Business and North America Digital, where he played a key role in advancing Chubb’s underwriting and distribution capabilities. His strong operational background positions him well to lead the new division.
Ranucci, in his role as COO, will oversee broad operational functions, including P&L management, underwriting, product development, pricing, portfolio management, and analytics. With more than 17 years of experience in the insurance industry, he most recently served as head of North America Lower Middle Market and was previously global chief underwriting officer for Small Business.
The consolidation of these divisions is expected to leverage Chubb’s strengths in underwriting and digital agility, offering clients a more seamless and efficient service. The company aims to meet growing demands from agents and brokers for fast underwriting, digital solutions, and a simplified distribution process.
Commenting on the launch, Juan Luis Ortega, executive vice president, Chubb Group, and president, Chubb North America, said, “The small business and lower middle market segments present significant growth and expansion opportunities for Chubb. As the distribution landscape continues to evolve, agents and brokers increasingly demand simplicity, efficient and fast underwriting, and seamless digital experiences. This combination integrates our decades-long underwriting experience in the Lower Middle Market with the agility and speed of our Digital Small Business division, allowing us to apply the full power and deep expertise of our team to service clients in this segment and drive growth.”
Middle Market president Ben Rockwell added, “Launching this division represents an important milestone in how we serve the small and lower middle market business segment. Rob and Jason will build on their successes in this space, leveraging our investments in a modern, automated and data-centric digital operating model that differentiates our approach to a wide range of companies across all industry practices and positions this business for robust growth.”
He continued, “This division will offer more seamless coverage through a comprehensive suite of products and services, including P&C, Financial Lines, Cyber, Multinational, and Accident & Health, while offering agents the options of either a fully digital/automated experience or a digitally augmented service model.”
Pioneer Insurance partners with Sapiens to drive digital transformation in the Philippines
Pioneer Insurance has chosen Sapiens to enhance its digital transformation efforts in the Philippines.
The collaboration will see Pioneer leverage Sapiens Insurance Platform to accelerate digital transformation and enhance customer experience.
The partnership marks a significant step for Pioneer as it aims to modernise its operations, scale its capabilities, and embrace digitalisation.
By implementing Sapiens’ advanced technology, Pioneer seeks to optimise core processes and improve responsiveness to evolving market demands.
Sapiens, listed on NASDAQ and TASE under the ticker SPNS, is a leading provider of InsurTech solutions, delivering innovative platforms designed to streamline insurance processes and enhance operational efficiency. Its software supports insurers in automating workflows, accelerating product development, and improving customer engagement.
Pioneer Insurance and Surety Corporation is a top insurance provider in the Philippines, offering a wide range of general and surety insurance products. The company is committed to digital innovation to maintain its market leadership and provide customers with modern, efficient solutions.
As part of the collaboration, Sapiens will provide Pioneer with its end-to-end insurance platform, enabling the company to automate key processes and improve customer journeys. The partnership also includes a mentorship model, ensuring that Pioneer can independently manage and scale its digital transformation efforts over time.
Lorenzo Chan, president and CEO of Pioneer Inc., the holding company of the Pioneer companies, said, “Sapiens’ comprehensive platform will enable us to accelerate product development, automate workflows, and enhance customer journeys. This partnership underscores our commitment to delivering innovative and relevant insurance solutions to our customers while significantly improving operational efficiency. The mentorship model provided by Sapiens will also ensure self-sufficiency as we embrace this transformative journey.”
Roni Al-Dor, president and CEO of Sapiens, added, “We are proud to partner with Pioneer, a market-leading insurer in the Philippines, and to demonstrate our growth in this important region. Our insurance platform will empower Pioneer to meet their ambitious growth goals while delivering superior customer experiences. By automating and digitising operations, Pioneer is positioning itself as a true innovator in the region’s insurance market.”
FutureVault secures $3m to enhance AI-powered digital vault technology
FutureVault, a provider of AI-powered digital vault solutions, has secured $3m in equity financing, bringing its total funding since inception to $31m.
The latest investment round saw participation from founder and executive chairman G. Scott Paterson, CEO Daniel Kenny, and a mix of existing shareholders and select new investors.
FutureVault specialises in digital vault solutions tailored for financial institutions, wealth enterprises, advisors, and their clients. Its platform leverages AI and large language models (LLMs) to automate, aggregate, and centralise documentation and embedded data. This enables seamless bi-directional integrations with WealthTech providers, allowing real-time data extraction and workflow automation.
The new funding will support FutureVault’s continued innovation, including enhancing its AI capabilities, expanding workflow automation, and further strengthening its Client Life Management Vault™ technology.
Scott Paterson, founder and executive chairman, said, “The aggregation of critical documents into a digital vault, when coupled with AI, is changing the face of financial services, advice delivery, and client engagement.”
Paterson added, “Data has been recognized for two decades as the new “gold” while documentation has been overlooked and considered simply as something that you store, redundantly and safely, until purged in due course. And yet, the reality is that data embedded within documentation is considerably more valuable when compared to stand alone data simply due to the context it provides.”
Vital supervisory practices for off-channel and insider communication in finance
In today’s interconnected financial landscape, the oversight of electronic communications between financial advisors and their clients has never been more critical.
According to Saifr, with the emergence of new communication apps and increased regulatory scrutiny, banks and financial institutions must intensify their supervision efforts to safeguard client interests, ensure compliance, and preserve their reputations.
Off-channel communications are one of the most significant challenges for compliance teams. Any business discussions conducted through personal texts, social media chats, or popular messaging platforms that are not approved by the firm.
The importance of controlling these interactions is underscored by recent enforcement actions. Since December 2021, the Securities and Exchange Commission (SEC) has penalized over 100 firms, imposing fines totalling $2bn for off-channel communication breaches. Similarly, the Commodity Futures Trading Commission (CFTC) has levied over $1bn in fines against 18 financial institutions for related violations.
To mitigate these risks, financial firms are advised to establish clear policies prohibiting unauthorised communication channels, regularly train employees on approved communication protocols, adopt technologies to detect off-channel communications, and develop processes for addressing any violations. These steps are crucial in avoiding significant fines and maintaining efficient supervisory practices.
The detection of insider trading is another area where robust electronic communication review mechanisms are vital. Unintentional or deliberate sharing of non-public information can lead to unfair trading advantages, regulatory breaches, and legal issues.
Financial firms should implement advanced monitoring systems capable of identifying suspicious communications, educate reviewers on the subtle signs of insider information sharing, and continually update their monitoring strategies based on new trends and regulatory guidelines. Early detection of such issues can prevent severe legal consequences and protect a firm’s reputation.
In the financial services industry, gifts and entertainment (G&E) policies are crucial for avoiding conflicts of interest and maintaining high ethical standards. These policies typically restrict the value of gifts and require thorough documentation of any such exchanges.
Effective G&E supervision involves monitoring communications for any mention of gifts or hospitality, ensuring alignment with reported expenses, and verifying that all discussions adhere to the firm’s approval processes. Automation tools, including natural language processing (NLP) and sentiment analysis, are instrumental in overseeing compliance with these policies.
Promptly addressing customer complaints is essential for sustaining client relationships and adhering to regulatory standards. By meticulously reviewing electronic communications, firms can often detect issues that may not have been formally reported.
Financial firms should provide comprehensive training for reviewers to recognize signs of dissatisfaction and establish clear procedures for escalating any discovered issues. Automation can aid in identifying common complaint-related phrases, ensuring quick escalation and resolution.
As the volume and complexity of electronic communications continue to grow, adopting advanced technological solutions is crucial for financial firms. AI-powered tools can analyse vast amounts of data to identify potential risks efficiently. Regular training sessions for staff, updating communication monitoring criteria, and maintaining detailed records of supervisory activities are all essential components of a robust compliance program.
By investing in technology and fostering a compliance-focused corporate culture, firms can effectively manage the challenges posed by modern communication methods.
For financial firms, rigorous supervision of electronic communications is integral to compliance. The management of off-channel communications, insider information violations, G&E policy adherence, and customer complaint detection are fundamental areas where technology can play a significant role.
InsurTech platform CoverForce secures $13m Series A to enhance carrier-agency connectivity
CoverForce, an InsurTech platform focused on enhancing infrastructure and connectivity within the commercial insurance sector, has raised $13m in a Series A funding round.
The funding round was led by Insight Partners, a global software investor, with additional participation from Nyca Partners.
Founded by Cyrus Karai, Behram Dinshaw, and Kaivan Wadia, CoverForce operates a marketplace that facilitates seamless digital interactions between insurance carriers, agencies, and wholesalers. The platform serves as a central hub for quote-and-bind API connections, enabling brokers, wholesalers and agencies to access instant quotes and bind policies with a single click.
CoverForce plans to use the new capital to expand its capabilities, accelerate product innovation, and strengthen relationships with key carriers and distributors. The company is also investing in AI-powered tools to further automate and streamline insurance workflows.
Since its inception, CoverForce has established itself as a key player in the commercial insurance ecosystem, partnering with more than 20 of the largest insurance agency wholesalers and networks across the US. Its platform supports over 9,600 insurance producers and integrates with national carriers including AmTrust, Chubb, Liberty Mutual, and Travelers. CoverForce’s technology supports various lines of commercial insurance, such as workers’ compensation, general liability, business owner’s policies and cyber insurance.
CoverForce CTO and co-founder Kaivan Wadia said, “The insurance market is built on a legacy of paper and PDF a huge issue in a market worth more than $960 billion. CoverForce delivers a unified API infrastructure that decreases the time to integrate from months to weeks, saving our partners millions of dollars in R&D costs.”
CoverForce CEO and co-founder Cyrus Karai said, “We are thrilled to have Insight Partners on board with our Series A. This funding will help us expand our engineering capabilities and build deeper relationships in the market. In particular, we’re seeking to partner with carriers who are empowering their agents with cutting-edge, digital tools essentially those who are making an investment in speed as a key element of winning.”
As part of the investment, Insight Partners vice president Sophie Beshar will join CoverForce’s board of directors.
now including TVG, we are poised to push the boundaries of AI by harnessing the power of trusted data, reinforcing our leadership in this rapidly evolving landscape.”
TVG senior managing director and head of EMEA Avid Larizadeh Duggan said, “Businesses today need to build trusted data foundations to enable AI-enhanced decision making, to drive real world impact. Quantexa is revolutionizing how they do this. At TVG, we invest in high-growth, game-changing companies, led by visionary leaders making a global difference.
“Quantexa’s impressive track record, expanding customer base, and bold approach to data and AI innovation make it a natural fit for our portfolio. We’re excited to support Vishal, and his world-class team scale the company internationally as they continue helping industry-leading organizations embrace AI-driven decision-making with confidence.”
Venn bags $21.5m in Series A to transform Canadian business banking
Venn, the newly rebranded Canadian financial platform formerly known as Vault, has successfully secured $21.5m in Series A funding.
The round was led by Left Lane Capital, featuring contributions from XYZ Venture Capital, Intact Ventures, and Gradient, signalling strong investor confidence in Venn’s mission to transform business banking in Canada.
Founded by former Revolut employees Ahmed Shafik and Saud Aziz, Venn offers a comprehensive suite of financial services, including multi-currency accounts, spend management, transfers, FX services, and accounting automation. This holistic approach aims to replace outdated, rigid banking systems that have long burdened Canadian businesses with high fees and inefficient services.
The newly acquired funds are earmarked for expanding Venn’s product capabilities and broadening their financial services stack, as the company aims to solidify its position as the go-to banking platform for Canadian businesses. Since its launch in 2023, Venn has attracted over 4,000 businesses, demonstrating significant market traction and a clear demand for its innovative solutions.
Additional plans include strategic partnerships with companies such as Sherpa, MedEssist, and Alan, to further penetrate the market and enhance service offerings. This move indicates Venn’s commitment to scaling its operations and adapting to the diverse needs of the Canadian business banking sector.
“Venn can help grow Canadian businesses in a way that legacy banks simply can’t because we’ve built our platform for speed and flexibility to serve all types of businesses from the start,” Co-founder Saud Aziz commented. He further emphasized, “Our product strategy is our core differentiator we’re consolidating financial tools so businesses no longer have to piece together fragmented solutions. We aim to become the default platform for all of Canadian businesses’ banking needs.”
Taktile’s innovative AI decision platform garners $54m from top investors
Taktile, a decision automation platform that is redefining risk management strategies in financial services, has secured $54m in a Series B raise.
The funding was spearheaded by Balderton Capital and saw contributions from existing stakeholders including Index Ventures, Tiger Global, Y Combinator, Prosus Ventures, and Visionaries Club, as well as notable investment from Larry Summers, former US Secretary of the Treasury.
The company, known for its pioneering approach to decision automation, assists fintech companies and financial institutions in optimizing risk management throughout the customer lifecycle. With this new injection of capital, Taktile plans to further empower teams to enhance their risk decision-making capabilities with AI-driven tools.
Taktile’s platform is at the forefront of delivering risk decisions, handling hundreds of millions each month. The fresh funds are earmarked to boost these efforts, equipping business teams with the necessary tools to implement transparent AI-powered risk decisioning systems.
Founded by CEO Maik Taro Wehmeyer and CPTO Maximilian Eber, Taktile has made significant strides in the FinTech industry. In 2024, the company saw its customer base quadruple and achieved a 3.5x increase in ARR, now serving major financial institutions and fintech firms across 24 markets, including Allianz and Rakuten Bank. The platform’s efficiency and impact have not gone unnoticed, as evidenced by its recognition at the 2024 Banking Tech Awards USA and its consistent high ratings on G2.
From AI applications in customer support chatbots to real-time marketing personalization, the use of AI in high-stakes financial services like credit underwriting and fraud prevention is becoming increasingly prevalent. Taktile addresses the critical need for expert guidance in these sectors, where errors can have significant financial repercussions.
“From day one of our journey, we believed that millions of lives could be improved by enabling organizations to make optimal decisions for their customers. By keeping experienced risk experts in control, we make it possible for even the most regulated businesses in financial services to fully adopt AI into high-stakes workflows,” Maik Taro Wehmeyer, CEO & Co-founder of Taktile, explained.
Rob Moffat, General Partner at Balderton Capital, commented on the funding, “The best investments for VCs are when your reaction to the company is ‘of course – why doesn’t this happen already?’. It is crazy that businesses use a plethora of separate tools for different decisions across their business when it is the same customer and data.
“Taktile’s integrated decisioning platform allows businesses to take one consistent view of the customer and easily build, iterate and test complex decision logic. This has won them some of the most sophisticated fintechs as happy clients and is now allowing them to expand into banks and insurers.”
Blockchain payments firm SatoshiPay secures €850k to expand Vortex globally
SatoshiPay, a blockchain payments firm, has successfully closed an €850k fundraising round to accelerate the expansion of its payment solution, Vortex.
Built on the Pendulum network, Vortex aims to streamline global transactions by bridging stablecoins with local fiat currencies.
The round saw participation from several notable investors, including CoinShares chairman Danny Masters, SatoshiPay co-founder Meinhard Benn, and the company’s CEO, Alexander Wilke. Blue Star Capital, a publicly listed investment firm on the London Stock Exchange, also reinforced its ongoing support. Additionally, the Web3 Foundation contributed a grant to support the initiative.
Vortex is designed to enhance decentralised foreign exchange (FX) infrastructure by providing a low-cost, efficient payment system that integrates traditional financial networks with blockchain technology. The solution enables seamless currency conversion between USD stablecoins and local currencies.
The newly raised funds will support the rollout of Vortex in key markets, including Europe, Argentina, and Brazil, as well as facilitate further blockchain integrations across networks such as Ethereum, Polygon, Arbitrum, Binance, and Polkadot. The funding will also be used to drive initial market traction ahead of a planned Series A round in late 2025.
SatoshiPay co-founder Meinhard Benn highlighted the company’s long-term vision, stating, “Vortex represents the pinnacle of years of dedication to SatoshiPay’s vision to connect the world through instant payments. I’m proud to support this next chapter as we take on the challenge of revolutionizing payments in both emerging and established markets.”
CoinShares chairman Danny Masters also praised the project, saying, “Vortex addresses one of the most critical needs in the digital economy: seamless, cost-effective cross-border payments. With its strong technical foundation on Pendulum and a clear vision for scaling globally, Vortex is perfectly positioned to reshape the payments industry.”
The company has positioned Vortex as a solution that integrates with various platforms, including wallet providers such as MetaMask and Trust Wallet, as well as payment service providers and ramping platforms.
CredCore raises $16m to accelerate AI-driven credit investing and management
AI-powered credit investment platform CredCore, which specialises in transforming debt capital markets for lenders and borrowers, has secured $16m in a Series A funding round.
The round was led by Avataar Ventures, with additional backing from Inspired Capital, Fitch Group, BellTower Partners, and senior executives from asset management and financial services.
CredCore is tackling inefficiencies in the enterprise credit sector, which sees $5trn in transactions annually but has been slow to adopt technological innovation.
The company’s AI-driven platform enhances deal execution by enabling customers to accelerate transactions and scale their teams and assets under management (AUM). The platform has gained significant traction, already supporting major asset managers and corporations in the US, overseeing over $650bn in AUM.
The company’s suite of solutions covers the entire debt deal lifecycle, from pre-deal evaluation to post-deal management. Its Agentic platform uses AI to analyse, summarise, and extract insights from deal-related documents in a matter of hours, significantly reducing the time required for capital deployment.
CredCore co-founder Saumil Annegiri said, “Marrying credit and technology has historically been insurmountable. The industry is fragmented, complex, and specialized, with data that is often unavailable and inconsistent. At CredCore, we are solving this with proprietary AI models trained on $5 trillion worth of data.
“However, technology is just a part of the solution. Expert oversight remains indispensable to ensure precision and trust. This is where we differentiate ourselves with domain-specialists-in-the-loop.”
CredCore co-founder Karthik Nandyal added, “In terms of technology adoption, enterprise credit today parallels where equities were 30 years ago but credit markets are significantly larger.
“With decades of industry experience, we built CredCore on a foundation of advanced AI research and innovative business processes to transform credit markets through technology. AI advancements like self-deployed models and more efficient architectures are enabling greater automation and enhanced data privacy, which is why we are able to guarantee outcomes for our customers.”
TMX VettaFi expands fixed income indexing with Credit Suisse bond indices acquisition
TMX VettaFi has acquired Credit Suisse’s Bond Indices from UBS, further strengthening its fixed income index capabilities.
TMX VettaFi president Tom Hendrickson said, “We are excited to announce another significant step forward in our index expansion strategy, designed to strengthen our fixed income indexing capabilities, and broaden the services we provide to a growing international network of clients and partners.
“We see tremendous opportunity for indexing across the fixed income asset class – especially with the growth of bond ETFs – and we look forward to partnering with even more asset managers to unlock new bond ETF innovation.”
The acquired bond index franchise covers key areas such as government bonds, credit instruments, and emerging markets bonds. Additionally, it includes advanced tools and analytics to support the creation of custom fixed income solutions.
This marks TMX VettaFi’s fourth major acquisition in the past 18 months. The firm previously acquired iNDEX Research in October 2024, adding a provider with $10bn in linked assets across equity and fixed income strategies. Other recent acquisitions include the ROBO Global Index Suite in April 2023 and EQM Indexes in September 2023.
Brian Coco, head of index product at TMX VettaFi, said, “Today fixed income represents approximately 20% of the ETF market, yet the total global bond market is $140 trillion, compared to the $115 trillion global equity market. With even stronger fixed income indexing capabilities, VettaFi can truly provide outcome-oriented solutions to our clients across asset classes, as well as more precision exposures within fixed income.”
Following the acquisition, TMX VettaFi now manages over 700 indexes, with $53bn in assets passively tracking these indices and $41bn in benchmarked assets. Its team leverages cloud-based technology to deliver research, index design, calculation, dissemination, and management services to over 250 clients worldwide.
MENA InsureLab secures backing from TIC to boost InsurTech innovation
MENA InsureLab, an InsurTech accelerator and venture builder, has secured strategic backing from TIC Technology Innovation Capital, a US-based venture capital firm.
The investment comes from TIC’s $100m fund, which focuses on supporting early-stage technology companies. The firm employs a unique investment model, providing both financial backing and software development services in exchange for equity.
MENA InsureLab was founded to drive digital transformation in the insurance industry by fostering partnerships between established insurers and emerging startups. The accelerator aims to connect insurance firms with cutting-edge technological solutions, facilitating their adoption and integration.
With the fresh backing from TIC, MENA InsureLab intends to expand its operations, offering more funding opportunities, mentorship programmes, and market access for InsurTech ventures across the MENA region.
Aicha Ghaffari, managing director at MENA InsureLab, said, “TIC’s support solidifies our commitment to building a thriving ecosystem where insurance companies and insurtechs can co-create solutions tailored to the evolving needs of customers. This partnership allows us to drive impactful innovation and accelerate digital transformation in the region.”
TIC founder Ike Syed also expressed enthusiasm about the investment, stating, “Our investment in MENA InsureLab aligns with our mission to empower technology-driven entrepreneurship and reshape industries. We believe the InsurTech sector in MENA holds immense potential, and we are excited to support MENA InsureLab in driving meaningful innovation.”
SafelyYou raises $43m to expand AI-driven solutions for senior living
SafelyYou has secured $43m in a Series C funding round led by Touring Capital, bringing the firm’s total capital raised to over $100m.
With this tranche, SafelyYou plans to expand its technology offerings to address growing challenges in senior care, including increasing resident acuity, staffing shortages, and care accuracy, according to the Coverager.
The company has introduced two additional solutions—SafelyYou Clarity, an automated care tracking system, and SafelyYou Aware, which uses data-driven insights to predict residents’ care needs.
The company’s client base includes leading senior living providers such as StoryPoint Senior Living, Benchmark Senior Living, Midwest Health, and Senior Star.
SafelyYou founder and CEO George Netscher said, “We’re so grateful for this funding at a critical juncture in care delivery for senior living, when SafelyYou’s solutions are more important than ever. I started this company to help my mom and to help so many families like ours who have a loved one living with dementia. And we’ve grown to provide broader care support in senior living. Now, at a time when resident acuity is increasing, care demands are greater, and staffing continues to be a crisis, we’ll be able to empower operators to predict care needs with unmatched speed and accuracy, revolutionising how senior care is provided.”
SaaScada partners with ARIE Finance to streamline cross-border payments
SaaScada has been chosen by ARIE Finance to support its international payments service for mid-sized B2B businesses.
SaaScada, a cloud-native core banking provider, will enable ARIE Finance to simplify cross-border transactions, particularly in Africa, where the company seeks to become the first B2B firm with a PSP licence in Mauritius.
ARIE Finance’s banking platform is designed to offer fast, secure, and personalised financial services, integrating multi-currency accounts, payments, and a global FinTech partner network. The company aims to streamline onboarding by tailoring its approach to each applicant’s needs, enabling account setup within days while maintaining stringent fraud and financial crime controls.
ARIE Finance founder and executive vice-chairman Stephen Margolis said, “With a thriving investment scene and high regulatory standards, Mauritius is fast becoming the ‘Singapore of the West’, acting as the central financial services hub for the African and Indian subcontinents. But international businesses often struggle to set up accounts in the region because of outdated systems and rigid onboarding processes. This is hampering innovation as many exciting businesses are excluded based on their size, location, or industry, without any effort made to understand their business.
“ARIE Finance is shaking up the industry and taking the pain out of opening international accounts. By coupling the features of a digital-first neobank like fast online setup with a dedicated team who can personally review applications, we will go beyond ‘Know Your Customer’ to ‘Understand your Customer’.”
SaaScada’s real-time data capabilities will provide ARIE Finance with instant insights into customer behaviour, while its cloud-native architecture allows the financial institution to rapidly develop and iterate new banking products.
SaaScada co-founder and CEO Nelson Wootton commented, “SaaScada is dedicated to making first-class banking products available to everyone, so we’re proud to work with ARIE Finance, helping underserved B2B businesses set up in growing markets. We love collaborative partners who want to grow with us, and we’re looking forward to working closely with ARIE Finance and Stephen Margolis in the coming months to bring even more banking services to mid-sized businesses operating in Africa and beyond.”
Hitachi Payment Services invests in Spydra to drive CBDC and Web 3.0 payment innovations
Hitachi Payment Services, an end-to-end payments and commerce solutions provider, has made a strategic minority investment in Spydra Technologies, a specialist in enterprise blockchain solutions.
The funding is being channelled through the Hitachi Payments Accelerator (HPX) Program, an initiative designed to support FinTech startups through investment and partnerships. By backing Spydra Technologies, Hitachi Payment Services aims to integrate blockchain-powered solutions into its payment infrastructure, improving transaction efficiency, security, and fraud prevention.
Spydra Technologies focuses on delivering scalable and secure blockchain solutions for businesses. The company specialises in real-world asset tokenisation and enables asset owners adn issuers to tokenise and manage assets on-chain, offering customisable solutions for equity, debt and hybrid financial products.
Its expertise in Web 3.0, Central Bank Digital Currency (CBDC), and blockchain-based digital payments aligns with Hitachi Payment Services’ vision of pioneering the next generation of financial technology solutions. The investment will facilitate the development of new blockchain-driven payment capabilities, particularly in cross-border transactions, real-time settlements, and financial inclusion initiatives.
Anuj Khosla, chief executive officer – digital business at Hitachi Payment Services, said, “At Hitachi Payment Services, we strive to introduce transformative technologies and solutions that enable superior payment experiences. Blockchain is the cornerstone of the next wave of financial innovation and our investment in Spydra reflects our commitment to advancing digital payment innovation.
“By leveraging Spydra’s blockchain and CBDC capabilities, we are well-positioned to develop secure and cutting-edge digital payment solutions that empower our customers to thrive in an evolving digital landscape. Through the HPX Program, we aim to collaborate with disruptors in the fintech and payments segment, driving the next phase of growth and innovation in digital payments.”
Manish Tewari, co-founder of Spydra Technologies, stated, “Our enterprise blockchain solutions are designed to offer scalability, security and efficiency across industries. By partnering with Hitachi Payment Services, we aim to bring innovative solutions that reshape the future of payments and commerce. As government and financial institutions in India move towards embracing blockchain-powered digital currencies and decentralized solutions, this collaboration is a significant step towards accelerating blockchain adoption in the payment sector.”
The HPX Program is set to support FinTech startups operating in various domains, including ERP/Billing, segmented payment solutions, embedded finance, issuance, payments compliance, banking-as-a-service, AI/Gen AI, core banking, and Web 3.0/CBDC technologies.
Klarna and JPMorgan Payments partner to expand BNPL services for merchants
Swedish BNPL giant Klarna has struck a new deal with JPMorgan Payments to see its flexible financing solutions integrated into JPMorgan Payments’ merchant services.
The partnership aims to broaden the accessibility of Klarna’s payment options, including its interest-free BNPL solution, according to Finextra.
This move is expected to provide merchants with a wider array of payment choices to enhance customer experience and drive sales.
Klarna, a leading BNPL provider, enables consumers to split purchases into instalments, often interest-free, while offering merchants tools to boost conversion rates and customer engagement. The company has rapidly expanded beyond BNPL, providing a comprehensive shopping ecosystem, including its own app and AI-powered personal finance management features.
JPMorgan Payments, a division of JPMorgan Chase, is one of the world’s largest payment processors, handling over $2tn in transactions annually.
The company provides end-to-end payment solutions, including acquiring, treasury services, and merchant processing, catering to businesses of all sizes.
As part of the deal, Klarna will also join the JPMorgan Payments Partner Network, which connects businesses with a suite of third-party payment solutions. This collaboration is expected to further accelerate Klarna’s expansion into new markets and merchant segments.
Klarna is reportedly preparing for an IPO in April, and this partnership with JPMorgan Payments could enhance its appeal to investors by demonstrating its continued growth and integration within mainstream financial infrastructure.
Klarna chief commercial officer David Sykes said, “By collaborating with JPMorgan Payments, we’re bringing our payment solutions to even more businesses and fast-tracking our ambition to make Klarna payments available everywhere, for everything.”
Simplifai launches Agentic AI to transform insurance automation
Simplifai, a leader in AI-driven automation, has launched Agentic AI designed to optimise critical processes such as claims handling, underwriting, and customer service.
The Norwegian firm has debuted the solution in response to the industry’s increasing demands.
Insurers are facing growing customer expectations, rising cost pressures, and complex regulatory requirements.
To help navigate these challenges, Simplifai has concentrated its expertise on developing AI-powered automation tools that enhance efficiency and compliance.
Since its inception, the company has evolved from a startup offering Digital Employees to a major player in AI-driven automation across Europe.
Over the years, it has expanded globally, collaborating with customers and partners to drive digital transformation and AI innovation.
Agentic AI is specifically built to support insurers by streamlining complex processes such as claims assessment, fraud detection, and policy management.
Unlike generic AI models, Simplifai’s AI Agents are tailored for the insurance sector, ensuring adaptability, security, and full compliance with industry regulations.
As part of the launch, Simplifai is introducing three pre-configured AI Agents designed for bodily injury, motor, and travel insurance. These AI-driven solutions accelerate claims intake, processing, and customer interactions, significantly boosting operational efficiency.
Alongside the product expansion, Simplifai has strengthened its leadership team. The company recently appointed Artem Gonchakov as CEO, Dr. Bikash Agrawal as CTO, Nils Slottet as Chief Solution Officer, Niels Zijderveld as Chief Revenue Officer, and Andreas Prøven Bogsrud as CFO. This leadership team brings extensive expertise in AI, insurance, technology, and finance, reinforcing Simplifai’s commitment to driving innovation in the sector.
Simplifai remains dedicated to its mission of simplifying and optimising insurance operations through cutting-edge AI solutions. By leveraging AI Agents, insurers can enhance decision-making, improve customer experience, and reduce costs—paving the way for a smarter, more efficient insurance industry.
“Simplifai is naturally transitioning to be an Agentic AI company. Every AI Agent we build has a purpose, and helps insurers resolve a specific problem they face on a daily basis: high cost of claims, low efficiency of operations, low margins, high customer expectations and of course employee productivity and satisfaction,” Simplifai CEO Artem Gonchakov said. “We recently added LLM to our toolbox of AI techniques, which enables us to solve even more difficult problems, like bodily injury, our latest addition to our fleet of AI Agents. I’m super excited to bring Simplifai to this new stage and I have the best team with me to support you on every stage of your AI journey.”