MagicCube, a software-based security provider for payments and device integrity, has raised $10m in new funding to support its expansion beyond tap-to-phone technology into areas including biometrics, identity verification and AI-driven device security. The funding round includes new strategic investment from Verifone, alongside continued backing from existing investors Bold Capital, Mosaik Partners and ID Tech. MagicCube also confirmed participation from...

GenAI has moved quickly from experiment to execution across financial services, but the compliance desk remains one of its toughest tests. While generative models promise faster interpretation of regulations, risks, and controls, trust is still constrained by concerns over explainability, accountability, and regulatory defensibility. As compliance teams face mounting pressure to do more with fewer resources, the question is...

Global private markets have expanded rapidly over the past decade and a half, prompting renewed scrutiny from policymakers concerned about financial stability and access to finance for smaller businesses. According to new findings from the House of Lords Financial Services Regulation Committee, assets under management in private markets have risen from less than $4tn in 2008 to around $16tn today,...

Singapore recorded a 579% rise in anti-money laundering (AML) and counter-terrorist financing (CFT) fines issued by its central bank last year, underscoring a sharp escalation in enforcement activity following one of the city-state’s largest ever money laundering scandals. The dramatic increase highlights how regulators are responding to weaknesses exposed in parts of the financial system, particularly those linked to private...

Insurance firms are experiencing some of the highest delays in data updates and report widespread use of inflexible compliance tools, according to a survey by LSEG Risk Intelligence. The survey, which polled a host of compliance professionals, found that 75% of insurance firms face delays in data updates and 80% cite rigid screening tools as major challenges, both well above...

Novidea, a global leader in cloud-native insurance management platforms, has partnered with Colmobil, a major distributor of private and commercial vehicles and automotive services provider, to modernise and unify its insurance operations. The deployment of Novidea’s end-to-end platform will streamline workflows, reduce manual processes, and improve data-driven decision-making across Colmobil’s insurance business, supporting operational efficiency and scalability. Colmobil operates as a...

HDI Global, a corporate and specialty insurer, has launched a representative office in Seoul, Republic of Korea, marking a significant step in its expansion across the Asia–Pacific region. The Seoul office is designed to enhance the insurer’s engagement with local brokers, cedents, and clients, capitalising on Korea’s estimated EUR 80bn property and casualty market, according to InsurTech Insights. A dedicated local...

Santam, Africa’s largest short-term insurer, Alchemy Technology Services, a systems integration specialist, and Buckhill, a cloud-based insurance technology provider, have partnered to launch a new Lloyd’s PAS. The platform supports Santam Syndicate 1918 and was delivered in under three months, combining Buckhill’s C2MS® technology with Alchemy’s programme governance and ecosystem coordination. Built in collaboration with specialist insurance technology partners, the platform...

For much of the past decade, the AML technology stack has grown in line with regulatory anxiety rather than strategic intent. As the RegTech boom gathered momentum, financial institutions rushed to acquire single-purpose tools to address specific compliance gaps, often under pressure from new rules or supervisory findings. According to RelyComply, what once felt like progress has gradually become a...

Corgi, a US-based InsurTech company focused on building a full-stack, AI-native insurance carrier for startups, has raised $108m in funding following regulatory approval to enter the market. The newly raised capital will be used to scale Corgi’s startup insurance line, including expanding the breadth of coverage offered, growing distribution channels and further developing the AI systems that underpin underwriting, claims...