1Fort, the AI platform for business insurance, today announced it has raised $7.5 million in an oversubscribed funding round led by Bonfire Ventures. The round also included Draper Associates (Tim Draper); Karim Atiyeh, the founder of Ramp; and participation from all existing VCs: Village Global, Operator Partners, 8-Bit Capital, Character VC and Company Ventures. This
In a comprehensive survey conducted by Hanover Research for Temenos, a leading provider of banking technology, it was revealed that a significant majority of banks are actively exploring the deployment of GenAI to enhance their operational efficiencies. The survey, which polled 420 business and technology leaders within the financial services sector, underscores the growing interest in
Tietoevry Banking and Version 1 have announced a strategic partnership aimed at accelerating the digitalisation of European financial institutions. By combining Tietoevry Banking’s robust SaaS offerings with Version 1’s expertise in modernising banking systems and their specialism in AI compliance, ethics, and risk management, this alliance is poised to transform the digital landscape of banking across Europe.
Flagright, an AI-native AML compliance platform, has announced the successful closure of a $4.3m seed funding round. This financial boost aims to propel the development of Flagright’s solutions and support its international expansion. The funding round was spearheaded by Frontline Ventures and included investments from a group of distinguished angel investors. The company specializes in
Vanquis and FinScan, a leading provider of AML compliance solutions from Innovative Systems, have entered into a partnership. Vanquis Banking Group is known for its dedicated approach to responsible lending within the financial industry, whereas FinScan specializes in advanced AML compliance technologies that aid in enhancing operational efficiencies and customer transparency. The driving force behind this collaboration
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
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
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
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
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
BriteCore, a provider of cloud-native core insurance platforms for property and casualty insurers, has expanded its Solution Partner Marketplace. This enhancement introduces five new vendor integrations, marking a significant stride in BriteCore’s ongoing effort to equip insurers with cutting-edge technology solutions and increased flexibility in underwriting accuracy, claims processing, and overall operational efficiency. BriteCore’s core
ClearScore, a global FinTech and data-driven financial marketplace, has secured £30m in debt financing from HSBC Innovation Banking UK to support its expansion across domestic and international markets. The funding continues a long-standing partnership between ClearScore and HSBC Innovation Banking UK, which began in 2017. Over the past eight years, HSBC has played a key
