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Unipaas and Mastercard Join Forces to Enhance Card Acceptance for SMEs on SaaS Platforms
Unipaas has formed a strategic partnership with Mastercard to enhance card acceptance for small and medium-sized enterprises (SMEs) using vertical SaaS platforms. This collaboration focuses on industries with manual payment processes, such as health services and education, aiming to streamline transactions and improve digital payment adoption. By integrating Unipaas’ payment infrastructure with Mastercard’s global network, the initiative will replace outdated methods and provide secure, user-friendly payment options. Both leaders emphasized the importance of this partnership in transforming payment experiences for SMEs, facilitating efficiency, and unlocking new revenue opportunities.
Transforming Insurance: Risk Digitization Emerges as a Top Technology Priority
Risk digitisation is now the top technology priority for insurers in North America and the UK, according to a Cytora survey of 200 senior leaders. An overwhelming 79% plan to invest in this area over the next two years, surpassing other technologies like CAT models and CRM systems. Key benefits include revenue growth (22%), increased transaction capacity (19%), and improved service (17%). However, challenges persist, with 62% struggling with manual data extraction and 55% facing workflow issues. Investment in AI and automation is also rising, with 26% investing over £500,000 last year. The shift is expected to enhance productivity and employee morale in the insurance workforce.
Bank of China Partners with TNFD to Enhance Nature-Related Financial Transparency
The Bank of China has become the first Chinese financial institution to join the Taskforce on Nature-related Financial Disclosures (TNFD), enhancing China’s role in global environmental governance. This move reflects the bank’s commitment to sustainable finance, demonstrated through its participation in international summits like COP15. Tim Skeet from the bank expressed pride in leading this initiative. The TNFD plans to establish new Consultation Groups in China to integrate nature-related considerations into financial decisions, collaborating with organizations like the Institute of Finance and Sustainability. David Craig, TNFD Co-Chair, welcomed increased Chinese involvement, emphasizing the importance of nature-related reporting.
JPMorgan Exits Net Zero Banking Alliance: What This Means for Sustainable Finance
JPMorgan Chase has officially exited the Net-Zero Banking Alliance (NZBA), a UN-supported initiative promoting sustainable financing among banks. This departure reflects a trend of U.S. banks withdrawing from climate commitments, raising concerns about the future of corporate sustainability. JPMorgan cited a shift towards individualized strategies and emphasized its focus on pragmatic solutions for low-carbon technologies and energy security. Despite leaving the NZBA, the bank maintains its commitment to climate goals, including net-zero emissions reduction targets. This exit, influenced by political pressure, highlights a growing skepticism towards ESG initiatives among major U.S. financial institutions.
CoverForce Secures $13M Series A Funding to Revolutionize Carrier-Agency Connectivity in InsurTech
CoverForce, an InsurTech platform, has raised $13 million in Series A funding led by Insight Partners, with support from Nyca Partners. The investment aims to enhance its infrastructure, facilitating digital transactions in commercial insurance. Founded by Cyrus Karai, Behram Dinshaw, and Kaivan Wadia, CoverForce connects insurance carriers, agencies, and wholesalers through a centralized marketplace, offering features like instant quotes and streamlined API connections. The new capital will boost technological capabilities, product innovation, and partnership development. CoverForce collaborates with over 20 major insurance wholesalers and serves various insurance lines, emphasizing efficiency in a $960 billion market.
