Business - FinTecBuzz

EY and FINEOS form strategic alliance

May 23, 20226 min

Supports smart digital transformation at scale Realizes tangible operational efficiencies with innovative technology Accelerates new business model opportunities with increased capabilities EY today announces an alliance between FINEOS – a global market leader of core systems for life, accident and health insurers – and Ernst & Young Business Consultants (EY Ireland). The Alliance will help carriers achieve smart digital transformation. In addition, it will bring positive impact across employee benefits value chain, from insurers and...

by BusinessWire

Payments

TransferMate Secures $70m Funding Round

May 23, 20225 min

TransferMate, the world’s leading provider of B2B payments infrastructure as-a-service, today announced a $70M funding round bringing the company to a valuation of $1BN and $130M of total funding. Railpen, one of the largest UK pension funds, managing £37 billion, participated in the round. TransferMate has grown its global licensing infrastructure and banking network to be one of the widest in the industry and has been chosen as the partner of choice to power B2B...

by PRNewswire

Investments

100Man Aims to Deliver Simplified Crypto Investments

May 20, 20226 min

The two platforms join hands to help guide the next generation of investors

by BusinessWire

Payments

Xendit Raises US$300M Funding Co-Led by Coatue & Insight Partners

May 20, 20227 min

Xendit is one of the fastest-growing fintechs in Southeast Asia, tripling annualized transactions from 65 million to 200 million and increasing total payments value from US$6.5 billion to $15 billion.

by BusinessWire

Insurance

AM Best Affirms Credit Ratings of Convex Group Limited’s Subsidiaries

May 20, 20226 min

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Convex Re Limited (CRL) (Bermuda), Convex Insurance UK Limited (CIL) (United Kingdom), Convex Europe S.A. (CES) (Luxembourg) and Convex Guernsey Limited (CGU) (Guernsey). All four entities are wholly owned subsidiaries of Convex Group Limited (Convex) (Bermuda), the non-operating holding company of the group. The outlook of these Credit Ratings (ratings) is positive. The ratings reflect...

by PRNewswire

Payments

Apis Growth Fund II Announces Investment in DT One

May 19, 20226 min

Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (“Apis Partners”), a UK-based asset manager that supports growth stage financial services and financial infrastructure businesses, has today announced an investment in DT One, a leading global B2B digital micropayments platform powering cross-border transfers of mobile top-ups, data bundles, gaming pins and gift cards. DT One was founded over 15 years ago with the aim of providing mobile carriers with the infrastructure and services they...

by PRNewswire

Banking

Agility Bank Opens as First Minority Depository Institution in U.S.

May 19, 20228 min

Agility Bank, N.A. announced that it has received all regulatory approvals to open as the first bank in the U.S. primarily owned and led by women under a special charter by the Office of the Comptroller of the Currency. Through this Minority Depository Institution (MDI) charter, Agility’s focus will be on serving women and all small and mid-size businesses. “This is a historic event for banking, our country, and Houston,” said Lauren Sparks, founder. president and CEO...

by PRNewswire

Investments

TCC emerges as fintech inventory funding partner for banks at BAFT

May 18, 20226 min

Capital as a Service solution enables fintech and banking to expand investment grade business

by PRNewswire

Insurance

Beat Capital Partners Selects OneShield for U.S. Insurance business

May 18, 20224 min

Long-duration Venture Capital Firm for Insurance Startups chooses OneShield’s SaaS for MGAs to provide optimized operational efficiencies and fuel its U.S. expansion. Beat Capital Partners (Beat), a highly-successful insurance industry investor in the United Kingdom, is setting its sights on the U.S. marketplace and has chosen OneShield Software’s SaaS technology platform, OneShield Market Solutions, to launch and incubate new Managing General Agents (MGAs). Beat provides new ventures with startup funding, infrastructure, risk capital, and A+ rated paper, plus experienced guidance and...

by PRNewswire

Payments

Consumers Demanding Faster Payment Options to Fit Their Digital

May 17, 20225 min

U.S. consumers are seeking faster payments in more areas of their increasingly on-demand lives, with four out of five saying they are interested in faster options to pay businesses, according to a survey released today by the Federal Reserve Banks. About 70% say having access to enhanced faster payment capabilities from their financial institution(s) is an important satisfaction driver. “From recurring payments to last-minute bill pay, consumers are looking for faster payment options that give them more...

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