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Tomo secures $20m in funding as it scales AI-powered mortgage solutions
Tomo, a digital mortgage lender leveraging AI-driven technology, has secured $20m in a Series B funding round.
The latest investment was led by Progressive Insurance, with additional participation from existing investors Ribbit Capital, NFX, and DST Global Partners. This brings Tomo’s total funding to $130m.
Founded by former Zillow executives, Tomo is focused on modernising the mortgage process by reducing interest rates and eliminating hidden fees. The company’s AI-powered platform streamlines underwriting and sales, helping homebuyers secure loans faster and more affordably. Tomo’s technology enables average mortgage rate reductions of 0.50%, which can save buyers approximately $4,000 at closing.
The new funding will support Tomo’s expansion across the United States, including hiring loan officers and mortgage professionals for its offices in Detroit, Seattle, and New York. The company is also preparing to relocate its headquarters from Stamford, Connecticut, to New York City to accommodate its growing team and operations.
Despite challenges in the mortgage industry in 2024, Tomo recorded 3.5x growth and is now operating in 31 states, including Washington, D.C. In December 2024, its purchase unit volume ranked in the top 10% of mortgage lenders nationwide.
Tomo CEO and co-founder Greg Schwartz said, “Outdated business practices, excessive fees, and over-inflated interest rates cost U.S. homebuyers billions of dollars every year. Tomo is on a mission to change that.
“We use AI to deliver low rates without the gotchas. No mystery fees. No missed closing dates. No ‘rate-keeping,’ where you have to talk to a salesperson before getting a price. People love our honest, upfront pricing and seamless customer experience. We’re thrilled our investors recognize our unique vision and value.”
NFX general partner Pete Flint added, “While other mortgage lenders tout ‘automation,’ facilitated by way of call centers or outsourced service providers, Tomo is the real deal. They’re taking a radically different approach, using proprietary technology to cut out origination fees and processing delays in a way that we’ve not seen in the industry so far. We’re thrilled to back Tomo as they enter the next phase of their growth.”
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.”
Highnote clinches $90m in Series B to revolutionise U.S. merchant acquiring
Highnote has recently announced the closure of a $90m Series B coupled with the launch of its new merchant acquiring solution.
The financing was spearheaded by Adams Street Partners and saw contributions from existing backers such as Oak HC/FT, Costanoa, WestCap, and Pinegrove Venture Partners.
The company, known for its innovative financial technology solutions, operates a modern platform that offers both card issuing and acquiring capabilities. This dual-functionality allows Highnote to offer comprehensive pay-in and pay-out features, all managed through a single, unified core general ledger, delivering unparalleled efficiency and cost reductions.
With the introduction of its acquiring solution, Highnote is expanding its capabilities to include accepting card payments online, either through plug-in checkout systems or bespoke solutions tailored to specific needs. This advancement builds on the company’s already robust embedded finance platform, known for its seamless integration with major payment networks, ensuring transparency and improved economics for users.
The new funds will be utilized to expand Highnote’s footprint in the embedded finance market, particularly by enhancing its acquiring services. This move is aimed at accelerating growth and expanding its market presence in the United States, offering a holistic approach to embedded payments that cater to both small businesses and large enterprises.
Additional insights into the strategic development were highlighted by John MacIlwaine, CEO of Highnote, who emphasized the transformative potential of integrating acquiring services on their platform. He noted that this expansion into acquiring is a strategic move to enhance their already comprehensive embedded finance and issuing platform.
“Highnote’s transformational platform and impressive growth trajectory motivated us to lead this funding round,” Robin Murray, Partner at Adams Street Partners said. “We are excited to support the company’s vision to lead innovation in embedded finance.”
Spikerz raises $7m to enhance AI-powered social media security solutions
Spikerz, a cybersecurity company focused on protecting businesses and individuals from social media threats, has raised $7m in funding.
The investment round was led by Disruptive AI, with contributions from Horizon Capital, Wix Ventures, Storytime Capital, and BDMI, according to a report from New York Tech.
The company provides an AI-driven security platform designed to tackle the growing threats associated with social media usage. Spikerz’s technology offers protection against phishing attacks, impersonation attempts, bot infiltration, and shadowbanning, helping users safeguard their accounts and maintain their digital presence.
With the newly secured funds, Spikerz plans to advance its technological capabilities and expand its market presence in the rapidly evolving social media security sector. The investment will support further product development and strategic partnerships to address the increasing demand for robust cybersecurity solutions.
Eitan Israeli, head of Wix Ventures, said, “We’re excited about the innovative solution this team has developed to address a pressing need in the market. The solution is positioned to benefit both large enterprises like Wix and the SMBs that make up a significant portion of our users. Backed by a very talented and driven team, we’re confident this investment will drive meaningful value across the industry.”
VeriPark Partners with Leading Canadian Financial Institutions Coalition to Redefine Digital Banking
VeriPark, a global leader in omnichannel customer experience solutions for financial services, has partnered with a coalition of leading Canadian credit unions and financial institutions, including First West Credit Union, Prospera Credit Union, DUCA Credit Union, and Coastal Community Credit Union, Together, the coalition aims to drive innovation, enhance member experiences, and empower institutions in an evolving financial landscape.
This collaboration will deliver a Canadian-focused digital banking product tailored to the distinct needs of Canadians. Combining global and Canadian codebases, the solution allows institutions to maintain their identities while developing additional features to differentiate themselves.
“The partnership with VeriPark represents a uniquely Canadian solution that combines local expertise with global best practices,” said Darrell Jaggers, CIO & CTO, First West Credit Union. “Our goal is to build on our successes and provide members with even more innovative, personalized digital banking services that align with their evolving lifestyles.”
The coalition selected VeriPark for its Canadian-centric product development, enhanced security and compliance, support for open banking frameworks and commitment to ongoing managed services. Powered by Microsoft Azure, the solution ensures adaptability, efficiency and long-term support.
The solution integrates with Central 1’s payment and fraud management systems while supporting compatibility with other payment platforms, providing flexibility for institutions.
Coalition members gain:
A Canadian-focused solution enhanced by global best practices.
The ability to compete with larger banks while maintaining independence.
A solution validated by a year-long assessment, ensuring innovation and long-term support through Microsoft’s technology stack.
Institutions can contact Darrell Jaggers or coalition CIOs for details on joining the coalition.
“The financial services sector is constantly evolving, and this partnership offers a unique opportunity to shape the future of digital banking in Canada,” said Barry Frame, Chief Sales Officer, VeriPark. “By combining VeriPark’s expertise with the coalition’s forward-thinking vision, we are confident in delivering a transformative banking experience for Canadians.”
Selim Hasan, Sales Director, VeriPark, added, “This partnership also underscores our growth strategy for North America, as we continue to expand our footprint and deliver innovative solutions tailored to the needs of financial institutions in this region.”
Validis secures investment from Citi and Barclays to transform business lending
Validis, a leader in financial data collection and standardisation, has received strategic investments from Citi and Barclays.
The funding aims to enhance Validis’ platform, which focuses on automating and standardising data processes across business lending, including corporate, commercial, and working capital finance.
Validis provides technology that automates financial monitoring and delivers underwriting-ready data quickly. This process significantly reduces the time required for credit applications and reviews, enabling lenders to make faster and more informed decisions. The platform also supports risk management by ensuring data reliability and consistency.
With the new funding, Validis plans to accelerate its growth through product innovation and expanded sales and marketing efforts.
In addition to its lending applications, Validis’ technology has been transformative in the audit sector, where it works with over 100 lending and accounting firms to deliver granular, transaction-level data. This audit-grade information provides unprecedented insights, enabling robust financial decisions.
Michael Turner, CEO of Validis, added, “We’re eliminating historically time-consuming and high-cost data processes, particularly for complex commercial clients, enabling lenders to make faster, smarter decisions based on clean, reliable data.”
James Binns, managing director and global head of trade and working capital at Barclays, emphasised the impact on customer service, saying, “By automating data collection and standardization, we can not only deliver faster decisions and better service, but also offer client focused working capital funding products at scale. This enables us to meet our customers’ unique needs while still meeting our credit assessment standards.”
AIsa launches revolutionary payment network for the AI economy
AIsa, a cutting-edge FinTech company specialising in AI-focused payment infrastructure, has announced the launch of its revolutionary payment network tailored to meet the specific needs of the AI economy.
The launch addresses the growing demand for payment systems capable of handling the unique requirements of AI agents, according to FF News.
Traditional payment systems, originally designed for human transactions, fall short in processing the microscopic, high-frequency payments essential for AI operations.
Founded to bridge the gap between AI and payments, AIsa focuses on delivering innovative solutions to enable frictionless transactions within the AI economy.
The company’s expertise lies in integrating advanced blockchain technology with stablecoin-based payment mechanisms to provide secure, efficient, and scalable solutions for global industries.
The new AIsa payment network combines the speed of the Lightning Network with the stability of multi-asset stablecoins.
It is designed to support transactions as small as $0.0001, ensuring instant settlements with minimal fees.
Its key features include millisecond-level settlement speeds, programmable payments through smart contracts, multi-chain compatibility for cross-border functionality, and a stable value system through multi-asset stablecoins.
This groundbreaking network facilitates diverse applications, including payments for digital services like computational power, storage, and API calls. It also supports AI-to-AI task delegation, high-frequency trading strategies, and intelligent DeFi activities, such as cross-DEX arbitrage.
By focusing on real-world utility rather than speculative trading, AIsa distinguishes itself from other blockchain projects.
Its support for multiple stablecoins offers businesses the stability required for everyday operations while leveraging blockchain’s efficiency.
The vision for AIsa is driven by its co-founder Jordan, a recognised leader in payments and co-founder of UXUY, a multi-chain wallet with over 5m users. The team includes seasoned experts from Meta, MasterCard, and Bloomberg, combining years of experience in payments and AI. Backed by over $10m in funding from prominent investors like Binance Labs, AIsa is well-positioned to lead this transformation.
Drawing inspiration from Visa’s “chaordic” organisational model, AIsa has incorporated blockchain technology and token economics to create a decentralised, self-governing network designed to evolve with the AI economy.
PXP Launches the Next-Generation Technology Platform PXP Unity
PXP, a leading omnichannel global payment platform and innovative industry disruptor, is announcing the launch of its industry-redefining technology platform, PXP Unity. Marking a shift in payments, PXP offers a single integration into a commerce ecosystem that makes business simpler, better and more connected. It promises to transform and empower merchants with next generation POS and online services, providing more control over their transaction data, smart routing options, and a catalogue of easily-integrated services that they can deploy as and when they need them through just one integration with PXP.
The announcement comes at a transformative moment for the industry, with a comprehensive PXP survey conducted by leading polling firm Censuswide revealing strong merchant demand for digital transformation and unified commerce solutions. The research findings demonstrate how fundamentally merchants’ needs are evolving:
64% of merchants now view payment technology as a strategic growth driver, rather than just an operational necessity, signaling a major shift in how businesses view their payments infrastructure.
Enterprises in particular recognize the transformative power of payments technology, with 74% of large businesses prioritizing capabilities like real-time business intelligence, intelligent payment routing, and AI-enhanced platform features as vital to their operations.
When evaluating payment platforms, merchants prioritize robust security and fraud prevention (35%), followed by guaranteed reliability during peak periods (28%), and the ability to unify all payment channels and providers in a single platform (21%).
Looking ahead, merchants see payments innovation as key to their future success, with 59% focused on creating unique payment experiences and 56% planning to pioneer new commerce models through smart payment tech.
PXP Unity is a cloud-native, scalable and integrated platform that’s built on AI-powered engineering practices, representing the next generation of unified global technology platforms. One of the most advanced platforms in the world and built entirely in-house from the ground up, PXP Unity integrates cutting-edge engineering, flexible service catalogue, advanced real-time data reporting, and streamlined payment processing to accelerate merchants’ time to value.
Amongst its stand-out features is the platform’s ability to transform raw real-time transaction data into actionable insights, empowering merchants with intuitive dashboards that turn complex data into clear strategic direction, including important metrics such as transaction success rates, refusal patterns, payment methods, and scheme performance. Merchants can also drill down to specific parameters and granular insights, including direct connection to a data warehouse for deep and predictive analysis to inform future growth strategies.
PXP Unity also offers a level of self-service unrivalled by other platforms, enabling merchants to adapt the platform’s features to their own business blueprint, and control how and where each transaction flows. This granular control transforms complexity into strategic advantage, letting merchants design the perfect payment experience.
Backed by years of industry expertise, PXP’s platform sets new standards in commerce technology, with every feature and integration being precision-crafted and designed to streamline processes and unlock new growth opportunities.
PXP Unity reflects PXP’s significant investment in both technology and business innovation and offers:
A unified cloud-native global payments platform, processing payments across multiple channels, including online and in-store across a multitude of sectors including gaming, retail, hospitality and cruise, enabling merchants to meet customers at every touchpoint.
Sleek, intuitive and mobile-responsive UI and UX across all merchant channels and devices, including real-time transaction data reporting and advanced analytics dashboard.
Customisable reports and saved queries to meet specific business needs, providing actionable insights, scheduled reports, and direct access to real-time data points.
AI-powered engineering practices to optimise development quality and speed
Merchant control over transaction routing for cost, performance, or redundancy, ensuring every transaction takes the perfect path.
Comprehensive service catalogue, enabling rapid innovation, instant scaling, and continuous evolution of features.
Self-service options, enabling merchants to independently plug and play, configure and manage their payment services and processes, with intuitive interfaces that reduce reliance on manual support.
Customisable webhook notifications to receive real-time updates about any event at any level, for any service.
Freedom to select a single service and adopt it in isolation or combine several services together to build a holistic payments experience.
Next-generation in-store (stand-alone and integrated POS as well as SoftPOS) and online technology.
Scalable and robust infrastructure designed to handle high transaction volumes without compromising performance.
Not only does PXP Unity offer next-generation payment services and greater operational resilience, it simplifies commerce for merchants and businesses by removing friction to speed up integration, improve payment experience and give merchants more control over how their transactions flow.
Kamran Hedjri, Group CEO for PXP, comments: “In today’s fast-changing payment landscape, we know that merchants need even more dynamic and feature-rich payment platforms. PXP is breaking the boundaries of traditional commerce and technology, with architecture that transforms merchants’ payment processing and acceptance capabilities. The PXP Unity platform is where commerce is unified and amplified, and payments are reimagined to deliver the future of payments today. It is future-ready by design, empowering merchants with continuous service evolution and emerging technology innovation.”
Salvatore Cicero, Group CTO for PXP, added: “PXP Unity is more than just a platform; it is the culmination of relentless dedication, innovative engineering, and a vision to redefine global commerce. By bringing together cutting-edge technology, merchant-centric design, and a scalable infrastructure, PXP Unity empowers businesses to take full control of their payment processes. PXP Unity represents the intersection of advanced technology and practical solutions, delivering unmatched flexibility, actionable insights, and the agility to adapt to an ever-evolving payments landscape. It is a game-changer for merchants and a proud milestone for the entire PXP team.”
“With a single link, PXP Unity empowers merchants to customize their payment configurations without the friction and complexities of managing multiple integrations. Tested with selected merchants across various sectors, the feedback has been outstanding. Featuring speed, agility, and future-proof technology, the PXP Unity platform supports the entire business ecosystem beyond payments, ensuring seamless performance and more connected commerce.”
“The launch of our new platform marks a pivotal moment for PXP, establishing a fresh business direction that sets a new standard in the payments landscape. PXP Unity embodies our vision to be the fintech partner of choice, revolutionizing global commerce with a steadfast commitment to continuous growth, innovation, and trusted expertise. As new innovations emerge, PXP Unity will stand alongside our merchants, creating value beyond every transaction. One partner, one link. We handle the rest.”
Checkbook Acquires sureti to Deliver End-to-End Payment Solution for the Property Insurance Ecosystem
Checkbook, a trailblazer in digital payments, is thrilled to announce its acquisition of sureti, a cutting-edge digital payment solution dedicated to transforming the distribution of insurance claim proceeds. This strategic acquisition positions Checkbook at the forefront of the insurtech revolution, delivering faster, smarter, and more secure payment solutions for insurance companies and their customers.
By integrating sureti’s robust vendor network and innovative fund control mechanisms, Checkbook is set to redefine claims payment workflows. The synergy between the two companies promises to solve one of the insurance industry’s most persistent challenges: slow and cumbersome payment processes that delay restoration work and inflate costs.
sureti has been on a mission to revolutionize claim payments, with a firm belief that restoration contractors are often building slowly because they are being paid slowly – a cycle that costs carriers billions in increased loss-of-use expenses. Traditional paper claim checks, with mortgage lenders as payees, have created bottlenecks that negatively impact all stakeholders: carriers, contractors, policyholders, and lenders alike.
“The legacy model was overdue for disruption, and we take pride in leading the charge to solve these claims-related payment challenges,” said Whatley, founder of sureti.
sureti’s groundbreaking approach allows vetted restoration contractors to be paid ahead of work completion a bold departure from industry norms that addresses widespread contractor cash flow issues. This innovative payment process also reduces the risk of omitting lenders from large-loss claim payments while maintaining integrity and control through sureti’s underwriting mechanisms.
Since its inception, sureti has exclusively relied on Checkbook’s digital endorsement technology to streamline multi-party payments. With the integration of their tech stacks, customers can expect enhanced security, performance, and an unrivaled user experience.
“By joining forces with sureti, Checkbook has tackled the ‘last mile’ problem in claims payment distribution, allowing large claim proceeds to reach the right hands quickly and efficiently – without requiring lien holders to slow the process,” said PJ Gupta, Founder of Checkbook. “This is more than an acquisition; it’s a transformation for the insurance industry. We’re cutting large-loss cycle times, reducing administrative costs, and delivering peace of mind to all stakeholders.”
Gupta added, “If there ever was a perfect marriage between an insurtech pioneer and a fintech innovator, this is it. Our partnership is a testament to a shared vision of modernizing claims payments, and we’re excited to continue reshaping the future of insurance payments together.”
Together, Checkbook and sureti are poised to lead the charge in modernizing the property insurance ecosystem, delivering faster payments, better outcomes, and billions in savings for carriers and policyholders alike.
Ethos and Protective Life partner to simplify term life insurance with cutting-edge technology
Ethos, a leading provider of cutting-edge InsurTech solutions, has announced a strategic partnership with Protective Life Corporation and its subsidiary Protective Life Insurance Company, collectively referred to as Protective.
The partnership will enable Protective to offer its proprietary term life insurance directly to consumers via Ethos’ advanced digital platform, according to FF News.
The collaboration aims to simplify access to life insurance by leveraging Ethos’ seamless technology platform and Protective’s trusted insurance products.
Together, the companies aim to expand life insurance access, delivering exceptional value and ease to millions of families.
Ethos is renowned for its innovative technology platform that simplifies the insurance purchase process for both consumers and agents.
The platform integrates advanced tools to provide a streamlined, user-friendly experience, making it one of the most robust solutions in the industry.
Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc., is a prominent provider of financial and insurance solutions, known for its commitment to making life insurance accessible to a broad demographic.
As part of this partnership, Protective will offer term life insurance for consumers aged 20–65 with term periods ranging from 10 to 40 years.
Coverage amounts of up to $2m will be available, featuring guaranteed level premiums and a terminal illness rider for accelerated death benefits. Customers will also gain access to Ethos’ proprietary Estate Planning tools.
This initiative reflects Protective’s commitment to innovation and accessibility. “We are excited to team up with Ethos to help more people achieve financial protection,” said Aaron Seurkamp, SVP and President of Protective’s Protection & Retirement Division. “Their cutting-edge technology allows us to reach a wider audience and delivers an exceptional experience. This is the latest example of Protective’s commitment to making term insurance easy to obtain and accessible for families everywhere.”
Peter Colis, Co-Founder and CEO of Ethos, expressed similar enthusiasm.
“Joining forces with Protective is a fantastic opportunity for us to expand life insurance access to millions more families while delivering the best policyholder experience,” he said. “And, we couldn’t be more proud to do it with one of the most reputable organisations in the life insurance industry.”