#InsurTech / Insurtech startup Novidea raises $15 million in series B round

[CEO:] “We’re seeing a growing demand in the world for a smart platform that translates insurance data into business insights in real-time, advanced analytic capabilities and information that users can act upon.” Israeli insurtech company Novidea, which has developed a system to help improve the efficiency of brokers and agents, has raised $15 million inContinue reading “#InsurTech / Insurtech startup Novidea raises $15 million in series B round”

#DigitalTransformation / KBC puts virtual assistant at centre of new digital-first strategy

Belgian bank KBC says it is moving from an omnichannel to digital-first distribution model, putting a new AI-powered customer assistant at the centre of its strategy. Last year KBC set out a “more of the same, but differently” strategy, but… it is now shifting up a gear in its move away from in-person banking. FromContinue reading “#DigitalTransformation / KBC puts virtual assistant at centre of new digital-first strategy”

#DigitalTransformation / Lightico raises $13m

Lightico, a startup that helps firms – including banks – collect things like forms, signatures, documents and payments from customers digitally, has raised $13 million… Lightico has built a host of ‘micro apps’ that helps firms instantly collect information that they need from their customers’ mobile phones, whether the customer is interacting through a callContinue reading “#DigitalTransformation / Lightico raises $13m”

#DigitalTransformation / WEF executive: Traditional finance business model no longer working

Torrance… an executive member of the World Economic Forum’s… believes that the way financial services companies sell products and services is no longer viable due to increased competition and higher consumer expectations. “At the moment, financial services organisations ‘manufacture’ products and then try and sell them, either directly to customers or to distributors for resale…Continue reading “#DigitalTransformation / WEF executive: Traditional finance business model no longer working”

#RegTech / Data detector for operational risk Acin raises $12 million

The firm currently counts 14 Tier 1 banks as clients, using its network to quantify their operational and non-financial risk and controls through a standardised, industry-wide inventory. The net result promises significant balance sheet benefits by reducing the operational risk capital that they are required to hold in the future Acin says it will useContinue reading “#RegTech / Data detector for operational risk Acin raises $12 million”

#DigitalTransformation / Barclays-backed Team8 launches fintech foundry with ex-Leumi CEO

Team8, a Tel Aviv-based cybersecurity firm, has founded a fintech foundry with the former CEO of one of Israel’s largest banks. Initially focused on building cybersecurity companies, the firm has since expanded with a venture capital arm, and most recently a fintech division. “The foundry will build companies that enable incumbents, largely operating with legacyContinue reading “#DigitalTransformation / Barclays-backed Team8 launches fintech foundry with ex-Leumi CEO”

#BigTech / Amazon, ExxonMobil and Fiserv join to deliver voice-enabled commerce experience

… consumers with Alexa-enabled vehicles, devices like Echo Auto, or the Alexa app on smartphones can simply say, pay and be on their way when they fuel up at an Exxon or Mobil station. When customers pull up to the pump and say, “Alexa, pay for gas,” Alexa will confirm the station location, pump number,Continue reading “#BigTech / Amazon, ExxonMobil and Fiserv join to deliver voice-enabled commerce experience”

#DigitalTransformation / Urban FT Helps Banks Bridge Fintech’s Infrastructure Gap

Urban FT’s newly-launched X-35 FinTech Core will enable financial institutions to centralize their fintech infrastructure into a singular hub that sits beside and is connected to the bank’s existing core or payment processor. The API-based, developer-friendly technology helps FIs create and deploy new, innovative solutions to their customers faster and at significantly less expense. UrbanContinue reading “#DigitalTransformation / Urban FT Helps Banks Bridge Fintech’s Infrastructure Gap”

#Cloud / Standard Chartered signs three-year deal with Microsoft to become ‘cloud first’ bank

… Standard Chartered is adopting a multi-cloud approach, where significant applications, including its core banking and trading systems and new digital ventures such as virtual banking and banking as-a-service, will be cloud-based by 2025. The bank says it will also adopt a cloud-first principle for all new software developments and major enhancements. [Group CIO:] “MOX,Continue reading “#Cloud / Standard Chartered signs three-year deal with Microsoft to become ‘cloud first’ bank”

#DigitalTransformation / Bain Capital Technology’s Bet On hey And Japan’s Digital Payments Shift

Japan’s history of mobile payments progress is one of the more curious stories in the field… The country was home to one of the world’s first mobile commerce innovations with the DotCoMo mobile wallet all the way back in 2004. And yet Japan remains a heavily cash-based economy… [Bain Capital Tech:] “It’s just a veryContinue reading “#DigitalTransformation / Bain Capital Technology’s Bet On hey And Japan’s Digital Payments Shift”