Founded in 2011, London-headquartered Encompass enables fast, accurate identity validation and verification of corporate customers, and a gold standard approach to Know Your Customer (KYC). Now in its second decade, how are the firm’s mission and goals evolving? As we begin a new year, Alex Ford, chief revenue officer and president of North America for Encompass, reflects on 2024...

McGill and Partners, a leading independent global specialty insurance and reinsurance broker, has unveiled a pioneering war risk reinsurance facility specifically tailored for commercial property in Ukraine. The initiative is a response to the critical insurance gap faced by businesses operating in war-affected regions, according to InsurTech Insights. The introduction of this facility comes at a crucial time for Ukraine, as...

VIPR Solutions (VIPR), a provider of Delegated Authority technology, has bolstered its position within the UK Lloyd’s Market through multi-year contracts with three prominent insurance brands. The agreements, signed with leading Lloyd’s syndicates, collectively represent insurers that manage billions in Gross Written Premiums (GWP) annually. VIPR’s technology will oversee an estimated £10bn in delegated authority premiums, cementing its role as a...

Insurance data, in an ideal world, would perfectly reflect reality. However, data is often inherently biased, whether due to uneven sampling or systemic selection effects. Earnix, a firm looking to redefine the insurance and banking sectors, has opened up on the critical topic of model bias and how to address it effectively. In relation to insurance data, the push for fairness...

Ottu, a leading online payment management solution provider in the GCC, has announced a partnership with Edunation, a premier e-learning platform provider. Together, they aim to simplify and enhance the payment experience for educational institutions in the region, according to FF News. The collaboration seeks to streamline fee collection processes for educational institutions by integrating end-to-end online payment solutions. Through this partnership,...

The EBA has issued comprehensive guidelines aimed at enhancing the management of ESG risks within the financial industry. These guidelines are designed to align with key EU regulations such as the Capital Requirements Directive (CRD6), Corporate Sustainability Due Diligence Directive (CSDDD), and Corporate Sustainability Reporting Directive (CSRD). This initiative is a step towards achieving the EU’s ambitious goal of...

The CFPB has launched a significant initiative seeking public feedback on enhancing privacy measures and safeguarding consumers from undue surveillance within digital payment platforms. This move targets the expansive services offered through major technology companies and innovative payment formats like video gaming platforms and stablecoins. The initiative is in response to the potential privacy risks and errors in new...

Know Your Business (KYB) is an essential compliance practice for verifying the legitimacy of business partners, particularly in Ethiopia.

The ECB has revised the implementation timeline for the Integrated Reporting Framework (IReF), now setting full adoption for 2029. According to Regnology, this update grants financial institutions additional time to prepare, underscoring the importance of transitioning towards granular data reporting. The ECB has outlined a phased implementation approach, acknowledging the operational and technical challenges involved in the transition. Initial testing phases...

PensionBee, a leader in the consumer retirement market, is known for simplifying pensions and enabling individuals to consolidate their retirement savings into one online platform. The Climate Plan was developed to meet growing customer demand for sustainable pension options, according to FF News. Insights from PensionBee’s customers revealed strong support for a plan that aligns with the Paris Agreement’s 1.5°C goals,...