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Xoxoday Unveils Global Rebranding as Giift After $70M Investment from Apis Partners
Giift has rebranded to Xoxoday after receiving a $70 million investment from Apis Growth Fund II, aimed at enhancing AI-driven loyalty solutions globally. This strategic shift positions Xoxoday as a leader in the loyalty and rewards sector, catering to over 5,000 businesses, including major corporations like Western Digital and Mercedes-Benz. The company is focused on expanding its international presence in regions such as India, Southeast Asia, and North America. With a dedicated team of 300 engineers, Xoxoday is rapidly innovating, offering new AI features every two weeks to improve user experience and drive growth.
SCOR Appoints Philipp Rüede as New CEO of Life & Health Division: A Strategic Leadership Move
SCOR has appointed Philipp Rüede as the new CEO of its Life & Health (L&H) division, effective June 1, 2025. He succeeds Frieder Knüpling and will focus on implementing SCOR’s updated strategy, targeting business growth, preserving in-force value, and enhancing cash flow. Rüede, a dual Swiss and German national with over 20 years of experience in banking and reinsurance, previously worked at Swiss Re and other financial institutions. SCOR aims to transform its L&H division under his leadership, with CEO Thierry Léger expressing confidence in Rüede’s skills and experience to drive this transformation.
Revolutionizing KYC Compliance: How AI and ML are Transforming Financial Services
Traditional Know Your Customer (KYC) processes are increasingly insufficient in the evolving financial landscape, leading to challenges such as high onboarding costs and extended review periods. The integration of artificial intelligence (AI) and machine learning (ML) is revolutionizing KYC and anti-money laundering (AML) compliance by improving efficiency and accuracy. AI automates tasks, reducing costs and onboarding times, while ML enhances accuracy and reduces false positives. Quantifind exemplifies this transformation, providing AI-driven KYC solutions that boost efficiency by 40%. As financial crimes become more complex, leveraging these technologies is essential for compliance and gaining a competitive edge.
Tietoevry Tech Services Wins Major Contract to Transform Kristiansand Municipality
Tietoevry Tech Services has secured a NOK 90 million contract to implement a cloud-based solution for Kristiansand Municipality, aimed at modernizing its financial, personnel, and payroll processes over the next decade. Bård Jørgen Haaland, director of business systems, expressed enthusiasm for the partnership, focusing on enhancing operational efficiency. CFO Terje Fjellvang highlighted Tietoevry’s competitive advantages in finance, HR, and AI capabilities, particularly for invoice management. This collaboration not only improves Kristiansand’s technological landscape but also sets a benchmark for other municipalities seeking to modernize their systems and services effectively.
Venn Secures $21.5M in Series A Funding to Revolutionize Canadian Business Banking
Venn, a Canadian financial platform previously known as Vault, has raised $21.5 million in Series A funding led by Left Lane Capital, highlighting strong investor confidence in its mission to transform business banking in Canada. Co-founded by former Revolut employees Ahmed Shafik and Saud Aziz, Venn offers services like multi-currency accounts, spend management tools, and accounting automation. The funds will enhance product capabilities and expand its services, aiming to become the leading banking platform for Canadian businesses. Venn plans to form strategic partnerships to improve offerings and address market needs, positioning itself as a game-changer in financial services.