April 24, 2024
Via: Insurance JournalGlobal commercial insurance rates increased by 1% on average in the first quarter of 2024, compared with a 2% increase in Q4 2023, according to the Global Insurance Market Index published by Marsh, the insurance brokerage business of Marsh McLennan. […]
Capital and Risk, Insurance, Regulations
April 23, 2024
Via: Insurance JournalThree investment firms connected to some of the best-known names on Wall Street have upped the ante in a legal dispute over now-insolvent Lighthouse Property Insurance Corp., based in Tampa. Fortinbras Enterprises, the managing partner of which is the well-known […]
April 19, 2024
Via: FinTech FuturesWith approximately $1.9 trillion in assets, the San Francisco-based bank will utilise the fintech’s TradeSun Intelligence V4 solution to mitigate risks in its trade finance operations, while also applying its AI technology to harvest, verify and classify unstructured data to […]
Capital and Risk, Macroeconomic
April 17, 2024
Via: YahooThe battle against inflation is being won by the Fed — even if it doesn’t appear that way to Mr. Market right now. “The reality is that they [the Fed] have got to win the war on inflation, and they […]
Capital and Risk, Credit, Operational
April 16, 2024
Via: FinTech FuturesAs part of the deal, KBZ Bank will deploy the fintech’s credit modelling platform, CreditX, to “assess the creditworthiness of applicants across retail and SME products with higher accuracy and efficiency”. The AI-powered platform enables “real-time, paperless loan assessment” and […]
April 11, 2024
Via: Insurance JournalAfter the Florida Legislature in 2022 and 2023 passed sweeping reforms designed to limit excessive claims litigation, some in the insurance industry predicted that the new rules would prevent further rate increases – but would not lead to actual decreases […]
April 10, 2024
Via: FinTech FuturesIn an era where technology is reshaping the world of banking and payments, Opus Technologies is making waves through innovation. The company has launched a host of platforms and solutions to democratise artificial intelligence (AI) adoption among banks and credit […]
April 10, 2024
Via: TechBullionUnveiling the Dark Side of Forex and Cryptocurrency Trading With the rise of the forex trading platform and the allure of quick profits, scam brokers have emerged as a significant threat to those seeking to venture into forex and cryptocurrency […]
April 8, 2024
Via: Insurance JournalA former Maryland title insurance agent recently pleaded guilty to carrying out a multi-year theft scheme netting her more than $369,000, according to the state attorney general. Cheryl Leigh Gray was a licensed insurance producer working as the operations manager […]
April 8, 2024
Via: FinTech FuturesTitled Banking in Video Games and Virtual Worlds, the new study reveals that gaming consumers in America spent nearly $57 billion on hardware, software, and in-game transactions in 2023. Gamers are often exchanging real dollars for virtual currencies or other […]
April 3, 2024
Via: FinTech FuturesThe bank is tapping Microsoft’s cloud-based Azure AI services to build and operate what it calls an “AI Innovation Hub”, with the aim of further integrating the technology into its product suite and back-end operations. Microsoft previously engaged in a […]
April 3, 2024
Via: FinTech FuturesCosmic was co-developed by MAS and six commercial Singaporean banks – Citibank, DBS, HSBC, OCBC, UOB, and Standard Chartered Bank – with these financial institutions being the first to implement the solution during its initial phase. MAS states that information […]
March 28, 2024
Via: Insurance JournalTreasury Secretary Janet Yellen said she expects insurers’ payouts to help cover some of the costs of rebuilding the Baltimore bridge that collapsed earlier this week. “My expectation would be that, ultimately, there’ll be insurance payments in part to cover […]
Activity, Capital and Risk, Operational, Retail Banking
March 28, 2024
Via: FinTech FuturesCentral Bank states that the move will enable it to deliver goal-oriented savings and wellness programmes to its digital users, offer real-time personalised financial advice and introduce an improved money management hub. Daniel Westhues, executive VP and CMO at Central […]
March 22, 2024
Via: Insurance JournalMinnesota homeowners insurance complaints rose 108% from 2020 to 2023, with of those complaints from homeowners concerned their claims were denied or they faced high out-of-pocket costs after damage from wind and hail. The Minnesota Department of Commerce (DOC) shared […]
Capital and Risk, Credit, Regulations
March 19, 2024
Via: Banking DiveTwo fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]
March 14, 2024
Via: Payments DiveFor the report, Consumer Reports evaluated the mobile banking apps of five large traditional banks: Bank of America, Capital One, JPMorgan Chase, U.S. Bank and Wells Fargo, as well as those of five digital banks: Albert, Ally, Chime, Current and […]
March 14, 2024
Via: DailyFXThe U.S. dollar experienced a slight dip on Wednesday, although its descent was cushioned by an uptick in U.S. Treasury yields. In any case, FX volatility remained subdued as traders appeared to refrain from taking large directional positions ahead of […]
March 12, 2024
Via: YahooThe latest trading session saw U.S. Bancorp (USB) ending at $43.21, denoting a -0.71% adjustment from its last day’s close. The stock’s change was less than the S&P 500’s daily gain of 1.12%. At the same time, the Dow added […]
March 11, 2024
Via: FinTech FuturesIn a statement on the company’s website, Oxygen says it officially commenced the “account closure process” on 8 March, with both consumers and business users being informed that their accounts will be closed on 29 March. The firm adds that […]