Finova, a leading UK provider of cloud-based mortgage, savings and lending software, has announced a strategic partnership with Covecta, a UK-based artificial intelligence company specialising in configurable AI agents and workflow automation for financial institutions. Under the partnership, Finova will integrate Covecta’s advanced agentic AI engine into its product suite, starting with new support agent capabilities across Finova’s lending and broker platforms. The move is designed to help lenders and intermediaries streamline operations, reduce manual workloads and improve service delivery. The new AI-powered functionality will form part of Finova’s broader innovation roadmap, which focuses on embedding emerging technologies across its…
Author: Editorial Team
Backbase, the AI-powered banking platform, has partnered with Jet Bank to support the launch of Albania’s first digital-only bank, marking a major milestone in the country’s banking landscape. The collaboration enables Jet Bank to deliver a fully digital, customer-first experience through a unified engagement platform built for speed, scalability, and continuous innovation. As a greenfield digital bank, Jet Bank faced the challenge of entering the market quickly without compromising on security, regulatory discipline, or long-term flexibility. Traditional banking infrastructure was not suitable for its ambitions. Instead, the bank required a modern digital foundation capable of supporting rapid launch while allowing…
Lean Technologies and Ziina have launched the UAE’s first live customer-initiated Open Finance payment, marking a major milestone in the country’s financial infrastructure evolution under the Central Bank of the UAE’s Open Finance framework. The launch enables Ziina users to make instant, account-to-account bank payments directly within the Ziina app using regulated Open Finance application programming interfaces. Customers can now initiate payments straight from their bank accounts without switching channels or relying on manual transfers, offering a faster, more transparent and secure way to move money. Through this milestone, Ziina becomes the first licensed financial institution in the UAE, operating…
Duck Creek Technologies, a global provider of intelligent solutions for the property and casualty insurance industry, has announced that Frankenmuth Insurance has selected Duck Creek OnDemand Distribution Management to modernise its agency and producer management operations. The move represents a significant milestone in Frankenmuth Insurance’s broader digital transformation strategy, as the insurer replaces its legacy agency and producer management system with Duck Creek’s line-of-business agnostic Distribution Management platform. Founded in 1868 and headquartered in Michigan, Frankenmuth Insurance provides personal, commercial, and life insurance products through a network of more than 800 independent agencies across 15 states. By implementing Duck Creek…
Standard Chartered has completed its first live, industry-standard API-based digital bank guarantee transaction for a global energy company through Komgo’s Konsole platform, a leading multi-bank trade finance solution. The transaction leverages the newly launched ICC–Swift API standards for bank guarantees, representing a significant milestone in the digitisation of trade finance. The transaction is fully compliant with the ICC–Swift API standards and demonstrates meaningful progress towards a seamless, interoperable digital bank guarantee ecosystem. By reducing operational friction and enabling standardised connectivity, the initiative supports the broader digital transformation of global trade. Standard Chartered is among the first global banks to adopt…
Leading underwriting and pricing insurtech Optalitix has announced a strategic partnership with Intermont, a Dutch managing general agent and part of the Acrisure group, to support a major digital transformation of its pricing and underwriting operations. The partnership will see Intermont modernise its core underwriting and pricing capabilities while creating a flagship Optalitix deployment in the Netherlands, strengthening Optalitix’s presence in the Dutch insurance market. As part of the project, Intermont will implement Optalitix Quote and Optalitix Models to migrate its existing Excel-based pricing and underwriting models into fully digital, cloud-based, end-to-end systems. The programme is scheduled to commence in…
Akurateco, a next-generation white-label payment software provider, has entered into a strategic partnership with Payaza, a leading African digital payments service provider, to expand local and cross-border payment capabilities for merchants operating across Africa and global markets. Under the partnership, Payaza’s payment services are now integrated into the Akurateco platform, enabling businesses to access robust African payment coverage supported by strong local acquiring, efficient settlement processes and cross-border expertise. The collaboration allows merchants to process payments across 20 key African markets, as well as in the United Kingdom, Europe, the United States, Canada and the United Arab Emirates. The integration…
VelaFi, a stablecoin-powered financial infrastructure platform operating under Galactic Holdings, has raised $20 million in a Series B funding round to accelerate its global expansion. The round was led by XVC and Ikuyo, with participation from Alibaba Investment, Planetree, existing shareholder BAI Capital, and other international investors, taking the company’s total funding to more than $40 million. Founded in 2020, VelaFi has built a strong presence in Latin America by delivering real-world payment infrastructure for enterprises operating in complex and underserved markets. The company has since expanded into the United States and Asia, offering businesses a unified platform that connects…
Ilkley-based digital compliance specialist SmartSearch has completed the acquisition of Credas Technologies Ltd, marking a significant step in the company’s growth strategy and strengthening its position in the UK digital compliance market. The combined business will deliver increased flexibility, capability and innovation for regulated firms operating across sectors including financial services, legal, accountancy, property and insurance. By uniting Credas’ digital identity verification technology with SmartSearch’s established compliance platform, customers will benefit from streamlined onboarding, enhanced monitoring and improved risk management as regulatory requirements continue to evolve. Phil Cotter, CEO of SmartSearch, said:“This acquisition enables us to streamline onboarding and monitoring…
Khedmah, Oman’s leading digital payments and services platform, has announced the launch of in-app medical insurance services in partnership with Dhofar Insurance, marking a significant expansion of its digital service ecosystem. The new offering provides individuals, families, small and medium enterprises and households across the Sultanate with easier access to essential health insurance solutions. Through the Khedmah platform, customers can now explore and purchase a wide range of medical insurance products tailored to different needs. These include health coverage for employees, domestic workers and dependants, enabling users to manage insurance requirements conveniently within a single digital interface. Small and medium…