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July 7 2023

Carpool Conversations At Insurtech Insights Europe With Vitesse’s Dan Andrews

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Welcome back to another episode of Carpool Conversations. In this episode, we are joined by Dan Andrews, Insurance Director at Vitesse PSP Limited. Vitesse provides their customers with a single connection to a network of domestic clearing systems, landing full-value payments as quickly as possible.

“We’ve built out a network of correspondent banks in over 170 countries so far, with over 100 currencies supported. What we do is leverage those banks to access local clearing rails, to make real-time payments where there is real-time infrastructure. If there isn’t, then we look to deliver that payment to that country as quickly as possible.”

“Largely speaking, it’s quite a seamless process for us in terms of integrating with our banking partners and pushing those payments through. You could call us a middleman if you like. Our relationship is direct with the insurers, but it’s not necessarily just the insurers. It could be 3rd party administrators, it could be assistance providers. They send us the payment instructions and we push it through to our correspondent banks to process those transactions.”

This episode with Dan Andrews of Vitesse PSP offers a clear view into how the company is reshaping the future of real-time, cross-border insurance payments.

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Dan Andrews

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