Infrastructure/Back-end

Due to the advent and widespread adoption of technologies such as Machine Learning (ML) and Generative AI, the InsurTech sector is expected to receive tighter boundaries when it comes to regulations in 2024. But what does that mean for the sector? FinTech Global spoke to a host of industry experts to find out.

How will tightening regulations impact the InsurTech sector in 2024?

Due to the advent and widespread adoption of technologies such as Machine Learning (ML) and Generative AI, the InsurTech sector is expected to receive tighter boundaries when it comes to regulations in 2024. But what does that mean for the sector? FinTech Global spoke to a host of industry experts to find out.
Privilege Underwriters, Inc. (PUI) and the affiliated companies of the PURE Group of Insurance Companies have announced two new leadership appointments, as the brand positions itself for future growth.

PURE Insurance makes leadership changes amid growth plans

Privilege Underwriters, Inc. (PUI) and the affiliated companies of the PURE Group of Insurance Companies have announced two new leadership appointments, as the brand positions itself for future growth.
Parametrix, a Lloyd’s coverholder, has broadened its capabilities to encompass the real-time monitoring of Artificial Intelligence (AI) service availability.

Parametrix expands monitoring capabilities to AI services like ChatGPT

Parametrix, a Lloyd’s coverholder, has broadened its capabilities to encompass the real-time monitoring of Artificial Intelligence (AI) service availability.
In an increasingly digitised landscape, the InsurTech sector has leaned more on burgeoning technologies to enhance efficiency and productivity. However, amidst this rapid technological advancement, the significance of robust cybersecurity measures cannot be overstated. But how can you improve your company’s cybersecurity measures?

How can you improve your InsurTech’s cybersecurity?

In an increasingly digitised landscape, the InsurTech sector has leaned more on burgeoning technologies to enhance efficiency and productivity. However, amidst this rapid technological advancement, the significance of robust cybersecurity measures cannot be overstated. But how can you improve your company’s cybersecurity measures?
CCC Intelligent Solutions eyes market expansion with 40 million shares secondary offering

CCC Intelligent Solutions eyes market expansion with 40 million shares secondary offering

CCC Intelligent Solutions Holdings (CCC) has recently made headlines with its announcement of a significant secondary offering. The company, a stalwart in the NASDAQ under...
Symfa, a leading software development firm, has been listed among the top 10 DevOps and cloud consulting firms in the USA. 

Symfa named as top DevOps and cloud consulting company

Symfa, a leading software development firm, has been listed among the top ten DevOps and cloud consulting firms in the USA. 
Hellas Direct secures €30m in funding, paves the way for European expansion

Hellas Direct secures €30m in funding, paves the way for European expansion

Greek FinTech Hellas Direct, a pioneering force in the InsurTech industry, has successfully completed a funding round, securing €30m.
PoloWorks and PwC UK forge strategic InsurTech alliance to revolutionise insurance services

PoloWorks and PwC UK forge strategic InsurTech alliance to revolutionise insurance services

PoloWorks, a pivotal entity within the Marco Capital Group, has joined forces with PwC UK to announce the initiation of PoloPartners.
Novidea and Atlantic Global Risk unite to revolutionise insurance management

Novidea and Atlantic Global Risk unite to revolutionise insurance management

Atlantic Global Risk, a forward-thinking specialty insurance broker that specialises in crafting complex insurance solutions for legal, tax, and credit risks, has announced its collaboration with Novidea, the creator of a pioneering, cloud-based, data-driven enterprise insurance management platform.
How Ushur is levelling-up customer experience processes 

How Ushur is levelling-up customer experience processes 

It is no secret that the customer experience is one of the biggest modern battlegrounds for business. Despite this, many companies still fail to offer end-to-end streamlined experiences. Ushur was designed to change this.  

News Stories

Diverse week for FinTech as $1.1bn raised across 17 deals

Diverse week for FinTech as $1.1bn raised across 17 deals

It was a diverse week for FinTech funding, with deals closing across nine different countries.  There were a total of 17 FinTech funding rounds covered...
Sift enhances fraud insights with new metrics in industry benchmark tool

Sift enhances fraud insights with new metrics in industry benchmark tool

Sift, a leading AI-powered fraud prevention platform, has introduced significant updates to its Fraud Industry Benchmarking Resource (FIBR), a free online tool designed to provide key fraud metrics across various industries, geographies, and timeframes.
Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight acquires Cybersixgill in $115m deal to enhance cyber threat intelligence

Bitsight, a global leader in cyber risk management, has announced its $115m acquisition of Cybersixgill, a prominent cyber threat intelligence (CTI) provider. This strategic move...
FinCEN issues alert on deepfake fraud schemes targeting financial institutions

FinCEN issues alert on deepfake fraud schemes targeting financial institutions

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a critical alert to assist financial institutions in identifying and addressing fraud schemes involving deepfake media created with generative AI (GenAI) tools.
change communication methods during a verification check.Some identity verification solutions may also flag possible attempts to circumvent verification checks, such as the use of third-party webcam plugins, which can let a customer display previously generated video rather than live video. Use of Deepfake Media in Phishing Attacks and Scams Criminals may also target financial institution customers and employees through sophisticated, GenAI-enabled social engineering attempts in support of other scams and fraud typologies, such as business email compromise (BEC) schemes, spear phishing attacks, elder financial exploitation, romance scams, and virtual currency investment scams.24For example, in family emergency schemes, scammers may use deepfake voices or videos to impersonate a victim’s family member, friend, or other trusted individual.25Similarly, criminals have reportedly used GenAI tools to target companies by impersonating an executive or other trusted employee and then instructing victims to transfer large sums or make payments to accounts ultimately under the scammer’s control.26 Financial Red Flag Indicators of Deepfake Media Abuse FinCEN identified the following red flag indicators to help financial institutions detect, prevent, and report potential suspicious activity related to the use of GenAI tools for illicit purposes.As no single red flag is necessarily indicative of illicit or suspicious activity, financial institutions should consider the surrounding facts and circumstances before determining whether a specific transaction is suspicious or associated with illicit use of GenAI tools. A customer’s photo is internally inconsistent (e.g., shows visual tells of being altered) or is inconsistent with their other identifying information (e.g., a customer’s date of birth indicates that they are much older or younger than the photo would suggest). A customer presents multiple identity documents that are inconsistent with each other.

Folks Finance secures $3.2m in Series A to advance crosschain DeFi solutions

Folks Finance, a DeFi platform specialising in lending, borrowing, and managing digital assets across multiple blockchains, has announced it raised $3.2m in an oversubscribed Series A funding round.

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