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ChainThat Unveils Innovative BPA Platform in Partnership with Cobalt Specialty Across Canada
ChainThat has launched its Beyond Policy Administration® (BPA) platform in collaboration with Cobalt Specialty Inc., enhancing the latter’s Surety line in Canada. This partnership, initiated in November 2024, aims to improve adaptability and speed to market in Canada’s commercial insurance sector. The BPA platform, already successful in the US and Australia, demonstrates scalability in InsurTech. Both companies foresee future expansion across various commercial lines, emphasizing the collaboration’s value. ChainThat’s BPA platform offers flexibility, speed, and scalability, catering to the growing demand for SaaS solutions in insurance. Updates on this partnership will be shared as it develops.
U.S. Federal Reserve Exits Global Climate Finance Coalition: What It Means for Future Investments
The U.S. Federal Reserve’s recent decision to withdraw from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) signals a shift in climate finance discussions, coinciding with Donald Trump’s presidential inauguration and growing Republican skepticism about climate initiatives. Established in 2017, the NGFS aims to enhance the financial sector’s response to climate challenges, including supporting the Paris Agreement and assessing environmental risks. The Fed, which joined in 2020, conducted climate scenario analysis but withdrew due to concerns over NGFS’s expanding scope beyond its original goals. The NGFS acknowledged the withdrawal and remains focused on environmental resilience.
Revamping Scam Response: How Financial Institutions and FinTechs Can Leverage AI for Enhanced Security
Scams remain a major threat in the digital age, with scammers stealing an estimated $1.03 trillion annually, according to the Global State of Scams Report 2024. A new whitepaper by Unit21, titled “The Scam-demic,” explores the evolution of scams and the role of emerging technologies, particularly generative AI, which enables fraudsters to create realistic phishing emails and deepfakes. This automation increases their success rates while complicating fraud detection for financial institutions. Unit21 offers advanced tools for scam detection, including AI agents and counterparty risk analysis, to help firms combat these growing threats effectively.
SaaScada and ARIE Finance Join Forces to Revolutionize Cross-Border Payments
SaaScada has partnered with ARIE Finance to enhance international payments for mid-sized B2B businesses, particularly in Africa. This collaboration aims to streamline cross-border transactions, with ARIE Finance becoming a pioneer in acquiring a Payment Service Provider license in Mauritius. SaaScada’s cloud-native banking solutions will enable fast, secure transactions and personalized services. ARIE Finance plans to improve onboarding by customizing the process for clients, ensuring quick account setups while maintaining fraud prevention. Both companies aim to revolutionize the financial landscape by leveraging real-time data and fostering growth for underserved businesses in emerging markets.
Unlocking $100 Billion in Subscription Payments: How Silverflow and Solidgate Are Leading the Charge
Silverflow, a cloud-native payment processing provider, has partnered with Solidgate to enhance subscription payments, addressing challenges like high acquisition costs and revenue losses from declined payments. With the subscription economy projected to surpass $500 billion by 2025, maintaining high payment approval rates is crucial. This collaboration aims to process $100 billion in annual transactions over five years, offering benefits such as fast implementation, advanced reconciliation tools, compliance support, and real-time data transparency. The partnership has already resulted in a 7% increase in conversion rates, an 8% rise in acceptance rates, and a 20% improvement in financial performance for Solidgate’s clients.