AmeriSave teams up with digital insurer Ladder to support customers

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AmeriSave teams up with digital insurer Ladder to support customers

January 26, 2023

AmeriSave Mortgage Corporation, an online home mortgage lender, has partnered with digital insurer Ladder to help customer protect their homes and family.

Sigma’s AI: Revolutionising risk management and compliance

July 25, 2023

Sigma, recently ranked in the AIFinTech100 for 2023, is driving innovation with AI to offer robust and scalable risk management solutions. Their unique use of AI technologies makes the platform indispensable for current and prospective clients.

Arsht-Rock, SEWA and Blue Marble to launch parametric product to protect women workers in...

February 15, 2023

Adrienne Arsht-Rockefeller Foundation Resilience Center (Arsht-Rock) has partnered with the Self Employed Women’s Association (SEWA) and Blue Marble to provide a parametric insurance product to protect women workers in the informal sector.

Cypago’s new GRC platform secures $13m in venture backing

August 29, 2023

Cypago, a GRC start-up headquartered in Tel Aviv, has announced the release of its much-anticipated Cyber GRC Automation platform.

Insurance broker Howden secures $1.1bn in debt and equity

April 25, 2023

Insurance broker Howden Group Holdings has raised over $1.1bn in debt and equity, which it intends to use towards M&A initiatives.

Flowdesk secures €46M in Series B to pioneer digital asset trading

January 22, 2024

Paris-based Flowdesk, a beacon in the FinTech industry, announced a significant milestone by raising €46m in Series B funding.

Ushur’s Revolutionary Columnar Data Transformation Engine

June 27, 2023

As insurers look to prioritise efficiency and automation, Ushur's Data Transformation Engine is helping insurers automate data problems and deliver remarkable improvements in business metrics.

Intellect Design Arena launches revolutionary AI centre in GIFT City

January 18, 2024

Intellect Design Arena has announced the opening of its AI-led innovation centre in GIFT City, a epicentre of Global Finance and IT in India.

Navigating the complexities of the Consumer Financial Protection Bureau's (CFPB) Section 1071 rule is crucial for financial institutions across the United States. In an enlightening eBook, Fenergo's director of thought leadership, Tracy Moore, demystifies the essentials that businesses must grasp concerning this significant regulatory development. As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 1071 has stirred substantial debate and legal scrutiny. Despite ongoing litigation, it's pivotal for financial entities to gear up for the forthcoming adjustments in compliance, staffing, and the financial outlay tied to this mandate. What exactly is Section 1071? Introduced by the CFPB, 12 C.F.R. Part 1002 enacts Section 1071 of the Dodd-Frank Act, marking a stride towards augmented regulatory oversight in the realm of commercial lending, particularly within the small business segment. Effective from March 30, 2023, this rule is tailored to enhance data collection and reporting processes for lenders engaged in small business financing. A vast spectrum of financial establishments, including traditional banks, credit unions, online lenders, and others active in small business lending, falls under its purview. The specificities of the compliance requirements and reporting duties hinge on the scale and scope of an institution's small business lending activities. The enactment of this rule, encapsulated in an extensive 888-page document, necessitates a thorough understanding by financial institutions to align with its stipulations. Fenergo's resource offers a comprehensive exploration of the rule's principal elements, compliance strategies, and the broader context enveloping its introduction, spotlighting the controversies it has incited. As the financial sector stands on the cusp of these regulatory shifts, grasping the nuances of Section 1071 becomes imperative for navigating the future landscape of small business lending. Read the story here. Keep up with all the latest FinTech news here Copyright © 2024 FinTech Global

Navigating the compliance maze: A guide to the CFPB’s Section 1071 Rule

February 16, 2024

Navigating the complexities of the Consumer Financial Protection Bureau's (CFPB) Section 1071 rule is crucial for financial institutions across the United States.

Copper names former UK Chancellor Phillip Hammond as chair

January 30, 2023

Copper, a provider of institutional digital asset custody and trading solutions, has named former UK Chancellor Phillip Hammond as chair of the company.