Category: Doing Business Overseas

Private automobile loss ratios surged from 55.6 year-end 2020 to 72.2 in the first three quarters of 2021, the highest level in a decade. At the same time, prices for new vehicles rose 11.8% last year, the largest rise since 1975. Higher physical damage severity added nearly six points to combined ratios of certain large…

The $2.4 trillion consumer credit card industry has been getting crowded, but the increase in competition is not enough to stop X1, one of the newest players in the smart payment card space. X1 was founded in 2017 to create a challenger credit card that fits today’s digital-first era. “With X1, we tossed the rulebook…

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Real-time payments platform Pidgin and community bank services provider Bankers’ Bank are partnering to simplify and streamline payment processes. Customers of $250 million Bankers’ Bank — with more than 250 community banking customers in Oklahoma, Texas and New Mexico — can now send payments directly between financial institutions without a third-party holding account or virtual…

Payments giant Visa Inc. is in talks to join an extension of the fintech startup Airwallex’s latest funding round, according to people familiar with the matter. The Tencent Holdings Ltd.-backed startup is seeking to raise $100 million to $150 million in an extension to its series E round, the people said. Some of the startup’s…

Casavo has raised $408 million in a debt and equity financing round. The round is comprised of $306 million in debt and $102 million in equity, and brings Casavo’s total funding to $798 million. The company will use the funds to grow its existing operations, while expanding into France. Casavo, a France-based fintech that seeks…

IBM leaned into its hybrid-cloud and artificial intelligence (AI) strategies in the second quarter to offer its partners and clients technical capabilities to improve innovation, productivity and scale their organizations. “Hybrid-cloud is about offering clients a platform that can straddle multiple public cloud, private clouds, and on-premise properties, all the way to the edge,” IBM…

Customer engagement and communications innovator Larky is partnering with People Driven Credit Union (PDCU). The partnership will enable the Michigan-area credit union to deploy Larky’s nudge platform to send predictive communications and customized push notifications to its members. A Finovate alum since 2014, Larky also recently teamed up with Michigan State University Federal Credit Union,…

Here is our pick of the 3 most important Stablecoin stories during the week. CBDC’s are trying hard to stay in the game. This week we heard a lot about CBDC’s and how they could be implemented.  The Bank of England (BoE), Bank of International Settlements (BIS) and IOSCO all weighed in with lots of reports. …

Insights-led customer engagement platform MoEngage made its Finovate debut at FinovateFall 2019 in New York. Three years later, the company returned to the Finovate stage for FinovateEurope 2022 in London. At this year’s conference, MoEngage demonstrated its full-stack solution featuring customer analytics, automated cross-channel engagement, and AI-driven personalization. “71% of banking customers expect to receive…