Sixfold, a groundbreaking InsurTech startup, has launched the first generative artificial intelligence (AI) specifically designed to tackle the most complex challenges faced by the insurance industry.

UK consumer lender Fluro has launched the second edition of its “Consumer Lending Newsflash”, examining current trends across the entire UK open market, encompassing major price comparison website partners.

The data shows that there was a 22% uplift in consumers making loan requests during April 2023, compared to the same period last year.

Skorlife, the Indonesia-based FinTech start-up focused on improving credit score transparency, has successfully raised $4m in a seed funding round.

The funding round was spearheaded by Hummingbird Ventures, attracting further investment from QED Investors as well as repeat investors AC Ventures and Saison Capital, according to a report from TechCrunch.

Niyo, a leading fintech company, recently expanded its multi-bank partnership proposition, by onboarding Equitas Small Finance Bank as a new banking partner for its Niyo Global programme (debit or credit card issued by partner bank).

Over the entire history, fintechs in alternative lending, digital banking, payments & transfers, e-wallet sectors have raised a grand total of USD 53.3 Bn and earned USD 17.8 Bn. The total rate of return (Total Revenue / Total Funding) is approximately 33.4%, which means that for every dollar attracted, fintechs earn an average of 33.4 cents per year on transactions related to their activities.

UniCredit and Mastercard today announced a global expansion of their payment partnership.

The British Business Bank today announced a Call for Proposals as part of the launch of the government’s Long-term Investment for Technology and Science (LIFTS) initiative. It seeks proposals from industry for the establishment of new funds or investment structures to crowd in UK institutional investment, particularly Defined Contribution (DC) pension schemes, to support the growth and ambitions of the UK’s most innovative science and technology companies.

Today, the Reserve Bank in collaboration with the Digital Finance Cooperative Research Centre (DFCRC) demonstrated the selected organisations exploring potential use cases and economic benefits of a central bank digital currency (CBDC) in Australia with a live demonstration.

Saxo Bank announces a significant milestone as it surpasses USD 100 billion in client assets. This remarkable achievement underscores Saxo Bank's growth in the number of both clients and deposits, and solidifies its position as a leading financial provider amidst a challenging macro-economic environment.