All UK insurers recognise digital platforms as vital to their operations, yet many remain frustrated with their current technology's ability to deliver, according to new research from Covernet.

The Pan-African Payment and Settlement System (PAPSS) launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its growing network. Algeria now becomes the 18th country of presence for PAPSS, marking a significant step in advancing Africa’s journey towards deeper financial integration. This development is expected to further support cross-border payments and enhance the regulatory framework governing intra-African trade.

Leading global fintech AND Global, today announced it has raised $21.4 million USD in a Series B funding round led by the International Finance Corporation (IFC), a member of The World Bank Group, and AEON Financial Service, a leading Japanese financial group active in 11 Asian markets. This investment will support further development of AND Global’s services, such as digital lending and other fintech solutions, to improve financing access for small businesses, as well as the unbanked and underbanked across Asia. With the successful completion of its Series B, AND Global now becomes the first Mongolian company to secure Series B funding, further solidifying its mission to bridge the financial inclusion gap in Southeast Asia.

The British Business Bank has agreed a transaction of up to £300m with Close Brothers under the ENABLE Guarantees programme, unlocking significant additional lending capacity.

IVIX, the first AI-powered platform designed to help governments around the world combat financial crime at scale using LLMs, advanced graph analytics and publicly available data, today announced the close of its $60 million Series B funding round, bringing the total amount raised to $85 million. The round follows five consecutive years of rapid growth and customer acquisition, as IVIX has helped customers identify billions of dollars in offshore assets and illicit financial activity.

While payments may not literally make the world go round, the world certainly functions through the transfer of value for goods and services. As we all know, the world is on a one-way express train into a fully digital era. What was once a straightforward process — cash or card — has evolved into a complex, dynamic ecosystem with evolving technology, shifting consumer expectations, and global economic forces. This evolution isn’t happening for its own sake; it is driven by a simple truth: consumers want (more) choice, and merchants who fail to provide that choice risk being left behind.

Over half (54%) of the shoppers said contactless is their favourite way to pay in-store — up 14% since 2023.

Over half (54%) of the shoppers said contactless is their favourite way to pay in-store — up 14% since 2023.

AKUVO, a leading technology organization specializing in collections and credit risk management, is pleased to announce that the $9 billion PSECU, Pennsylvania’s digital-first credit union, has selected the AKUVO collections platform to modernize its collections operations.

Luminance, the pioneer of Legal-Grade™ AI for enterprise, today announced that leading Banking Services Provider, LHV, has adopted its technology to streamline and enhance contract workflows. As the business continues to scale, the legal team was facing growing volumes of agreements under tight deadlines. Manual review processes were time-consuming and prone to bottlenecks, which led the team to adopt Luminance to improve both accuracy and eGiciency across their legal workflows.

Trust Retail, part of the Trust Payments Group, has announced the successful implementation of Pennies micro-donation technology at John Bell & Croyden, the prestigious London pharmacy dating back to 1798 and a Royal Warrant holder since 1958.

KlariVis, a leading data analytics solution for financial institutions, announced today it has been named to the prestigious Inc. 5000 list for the second year in a row, ranking No. 367 overall, 33rd in the software industry, and 7th among Virginia-based companies.

The Midnight Foundation, an organization dedicated to advancing the Midnight network, a privacy-focused blockchain, has announced a strategic integration with Fireblocks, an enterprise platform for secure digital asset custody, settlement, trading operations, and stablecoin payments.

DNV, the independent assurance and risk management provider, has issued a Second-Party Opinion (SPO) on L&T’s ESG Finance Framework.

Emtech Group Inc., the leading provider of enterprise QA software for insurance carriers and Insurtechs, has announced the release of QMT TruePDF, a groundbreaking solution designed to automate the validation of static and dynamic content in generated PDF documents.