Online behavioral health company Valera Health raises $44.5 million
Online behavioral health company Valera Health has raised $44.5 million in equity funding led by Heritage Group, with participation from Horizon Healthcare Services, Cigna Ventures and AXA Venture. Their total funding to date is $71.4 million.
Information link:
https://www.valerahealth.com/
Comments: Valera has developed an online mental health platform for patients with severe mental illness and depression, where patients can receive personalized treatment and care.
US small business digital insurance platform Glow raises $22.5 million
On November 8, 2022, Glow, a digital insurance service platform for small businesses, announced that it has received $22.5 million in Series A financing. This financing was led by Cota Capital, with participation from AV8 Ventures, Markd, Startup Venture Capital, Maiden Re and other institutions. Founded in California, USA, Glow provides a full range of commercial insurance services for small businesses, using advanced data analysis technology to meet the needs of businesses to obtain lower-cost insurance services.
Information link:
https://www.marketwatch.com/press-release/glow-raises-225-million-to-optimize-insurance-for-small-businesses-2022-11-08
Comments: In the future, Glow will use this financing to increase platform innovation and expand its services to more vertical industry small enterprises in other states of the United States.
Embedded insurtech Cover Genius raises $70 million in Series D funding
Embedded insurtech Cover Genius just raised $70 million in Series D funding. Cover Genius is a start-up engaged in an embedded insurance model, helping multiple industries such as airlines, travel and rental companies, retail, financial services, real estate, logistics, ticketing companies, gig economy practitioners and welfare insurers in consumer Integrate insurance products and services at the point of sale.
Information link:
https://covergenius.com/
Comments: Licensed or authorized in more than 60 countries and all 50 US states, the platform offers personalized insurance and warranty products in any country, language, and currency, while providing instant claims payment worldwide.
Expense Control SaaS Service Provider Hi Reimbursement Receives Tens of Millions of Series A Financing, Exploring a New Model of Next-Generation Enterprise Expenditure Management
The domestic cost-control SaaS service provider Xi Reimbursement has completed tens of millions of yuan in Series A financing, which is exclusively strategically invested by Baiwangyun. This round of funds will be used to develop a new generation of enterprise expenditure management platform, expand sales and promotion channels, and broaden market segments.
Information link:
http://biz.jrj.com.cn/2022/11/11110137130349.shtml
Comments: Happy reimbursement upgrades the digital process of financial risk control management for enterprise customers through the happy reimbursement electronic accounting file, the happy reimbursement invoice cloud, and the happy reimbursement low-code BPM platform, using the micro-service architecture and the process engine and intelligent engine of independent intellectual property rights.
Digital insurer Lemonade joins UK Insurance Association after entering UK market
Digital insurer Lemonade has announced its membership in the UK Insurance Association after entering the UK market. This time, Lemonade has teamed up with insurance giant Aviva to bring digital home insurance products to British consumers. Today, Lemonade is a member of the 200-member British Insurance Association.
Information link:
https://www.reinsurancene.ws/lemonade-joins-the-association-of-british-insurers-following-uk-launch/
Comments: Although Lemonade is still in its infancy, its emergence has brought a lot of impact to the traditional insurance industry. Lemonade's initial success stemmed from its unique understanding of current pain points in the U.S. insurance market.
VisitCoverage Launches Embedded Travel Solution
Insurtech company VisitCoverage has launched an embedded software-as-a-service solution to meet the growing demand for travel insurance. With Treppy's embedded travel insurance capabilities, OTAs and travel sites can offer travel insurance products directly through their apps to enhance the buying experience, VisitCoverage said.
Information link:
https://www.visitorscoverage.com/
Comments: This is a trusted embedded insurance solution for some of the leading small business software ecosystems in the US. Ultimately, Treppy simplifies the nuances of selling travel insurance into a flexible and intuitive interface.
Asian insurtech Igloo launches blockchain insurance solution
Asian insurtech company Igloo, together with non-life insurance company PVI Insurance, Vietnam Meteorological and Hydrological Administration and reinsurance company SCOR, jointly launched Vietnam's first meteorological parameter insurance to provide local farmers with a blockchain insurance claims solution. Igloo, an end-to-end insurance technology company, has developed weather parameter insurance through blockchain technology and simplified the claims process through smart contracts. PVI and SCOR will be responsible for providing underwriting capabilities.
Information link:
https://iglooinsure.com/press/igloo-launches-weather-index-insurance-for-rice-farmers/
Comments: This product can protect Vietnamese farmers from abnormal rainfall, and can insure at least 0.1 hectares of land, with premiums starting from US$8 per hectare.
Bowtie partners with Take2 and SCOR to develop cancer screening solutions
Bowtie Life Insurance Company, Hong Kong’s first virtual insurer, has announced that it will partner with medical and biotech companies Take2 and SCOR to develop a cancer screening solution. Bowtie will sponsor 1,300 life insurance customers aged 40-60 to take the Take2 nasopharyngeal cancer prediction test.
Information link:
https://www.scor.com/en/news/scor-partners-bowtie-and-take2-innovative-cancer-screening-solution
Comments: With the latest investment, Bowtie said it has set its sights on addressing Hong Kong's $886 billion protection gap, expanding its presence in Asia and working closely with healthcare providers.
ECB's Lagarde: A digital euro will strengthen Europe's strategic autonomy
European Central Bank President Christine Lagarde said via an online video at the ECB and European Commission's Digital Euro conference on November 7, 2022 that Europe could use a digital euro to counter foreign companies' efforts to pay in Europe. erosion. By designing a public digital currency, Europe can ensure trust in the monetary system and foster innovation.
Information link:
https://insidebitcoins.com/news/ecbs-christine-lagarde-discusses-timeline-for-digital-euro
Central Bank of Russia proposes regulation of NFTs, smart contracts
The Central Bank of Russia is reportedly considering new regulations and rules to tax NFTs, smart contracts and digital asset transactions. Digital assets may be regulated like traditional securities, the central bank said, and the agency may also develop new regulatory approaches depending on other circumstances. The regulator also stated that digital assets can be traded in traditional stock markets, but in some cases certain barriers to entry are required for investors, such as the need to complete corresponding financial literacy tests.
Information link:
https://www.pymnts.com/news/regulation/2022/russian-central-bank-eyes-digital-asset-rules/
The number of Saudi fintech companies has grown by 79% in a year, attracting $400 million
Fintech Saudi is a joint initiative of the Central Bank of Saudi Arabia (SAMA) and the Saudi Capital Markets Authority (CMA) to actively track and support the development of the local fintech ecosystem. With this mechanism, Saudi Arabia has successively launched co-working spaces and built it into a stronghold for fintech activities in the country, while successfully completing its first accelerator program to provide relevant startups with the necessary regulatory support. Recently, Fintech Saudi annual report was released. Data shows that the Saudi fintech industry has experienced rapid development in the past 12 months, with the number of fintech companies increasing by 79%, attracting a cumulative investment of 400 million US dollars, and almost all segments have achieved growth.
Information link:
https://fintechsaudi.com/about/
Technological financial service upgrade again - Beijing Zhongguancun Bank equity incentive service platform officially launched
In order to enrich the innovative ecological service model for science and technology enterprises and help them solve the unfavorable factors that hinder their business development, Beijing Zhongguancun Bank launched the "equity incentive service platform" and successfully launched it on October 31. The platform organically combines the daily operation and management scenarios of scientific and technological enterprises with financial services, and provides a set of efficient equity incentive service tools for enterprises. The platform uses financial technology to realize the integration of management business, incentive data and financial services for motivated talents The full-process service can greatly save the labor cost of the enterprise.
Information link:
https://www.zgcbank.com/dashboard
IMF: Carbon pricing needs to reach $75 per tonne to reduce emissions
On November 7, IMF Managing Director Georgieva said that in order to achieve the goal of reducing carbon emissions by 2030, the global average carbon price needs to reach $75/tonne. Unless carbon is priced in a predictable way, she said, it will not create an incentive for businesses and consumers to shift at least to an average price of $75/mt by 2030.
Information Links:
https://www.usnews.com/news/top-news/articles/2022-11-07/exclusive-cop27-imf-chief-says-75-ton-carbon-price-needed-by-2030
RGE Singapore's first green entity completed certification
Recently, East Asia Power New Energy (Nanjing) Co., Ltd., a subsidiary of Singapore's Golden Eagle Group, completed the third-party certification of enterprise entity green assessment, becoming the group's first green entity enterprise. This is another major breakthrough on the road of green and low-carbon development since the Group obtained the first foreign-funded carbon asset custody business, the first foreign-funded carbon emission right mortgage business and the first foreign-funded CCER carbon asset service trust business in China last year.
Information Links:
https://talk.cri.cn/n/20221110/2d8b6e1a-7555-e950-dd90-db86491420bc.html
British Prime Minister Sunak: Promised to invest more in renewable energy to make the UK a clean energy powerhouse
The British Prime Minister's Office said that Sunak pledged to make the UK a "clean energy powerhouse" at the 27th Conference of the Parties (COP27) to the United Nations Framework Convention on Climate Change (COP27) in Egypt on the 7th, accelerated the transition to renewable energy, and called on world leaders to accelerate the pace of moving away from destructive fossil fuels.
Information Links:
https://edition.cnn.com/2022/11/02/uk/uk-pm-sunak-cop27-gbr-intl/index.html
NDRC: Encourage private investment to rely on innovation-driven development, and explore ESG evaluation of investment projects
On November 7, the National Development and Reform Commission issued opinions on further improving the policy environment and increasing efforts to support the development of private investment: supporting the transformation and upgrading of private investment in the manufacturing industry. Encourage private enterprises to actively increase investment in advanced manufacturing based on China's industrial scale advantages, supporting advantages and first-mover advantages in some fields, and continue to enhance core competitiveness. Explore and carry out environmental, social and governance (ESG) evaluation of investment projects.
Information Links:
https://www.163.com/dy/article/HLILMFP105524WMC.html
FCA: BNPL institutions could face criminal penalties for breaching financial promotion rules
Recently, the UK Financial Conduct Authority (FCA) issued a warning to "buy now pay later" (BNPL) institutions that if they do not strictly abide by the rules for promoting financial products/services, the head of the institution may face jail time. This summer, the FCA unveiled its first plans to manage the fast-growing and controversial industry. Yet while the legislative process is nearing completion, the FCA is still actively taking steps to use its existing powers to push companies to comply with the rules.
Information link:
https://www.fca.org.uk/news/statements/fca-drives-changes-buy-now-pay-later-bnpl-firms-contract-terms
ECB executive board members propose individual transaction limits and stored value caps for digital euro
Fabio Panetta, member of the Executive Board of the European Central Bank (ECB), suggested setting limits on personal transactions and stored value for the digital euro at a meeting hosted by the European Commission on “Legislative Framework for Realizing a Digital Euro,” The Block reported. For now, the exact limit has not been set, and the digital euro project is still under investigation within the ECB, but Panetta mentioned 3,000 euros as an example of a store-of-value limit, and 1,000 transactions as a monthly limit.
Information link:
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220330_1~f9fa9a6137.en.html
Singapore's Minister of Trade and Industry urges Singapore companies to focus on China's digital and green fields
On November 7, 2022, Singapore's Minister of Trade and Industry Gan Jinyong said when attending the Singapore-China Economic and Trade and Investment Forum that China's digital economy and green economy are developing rapidly, and Singaporean enterprises should focus on these two areas and work with Chinese partners to explore more many opportunities. He pointed out that the scale of China's digital economy is estimated to be US$7.1 trillion (about S$10 trillion) in 2021, accounting for nearly 40% of the gross domestic product (GDP). Singapore’s compact city size and highly educated population make it easier to digitize. Participating in China’s digital transformation is better if local businesses, employees and consumers are digitally ready.
Information link:
https://www.weiyangx.com/415075.html
Saudi central bank releases regulatory framework for open banking
Open Banking is a new concept in the financial industry that can help financial institution customers securely share their financial data with third-party service providers, while promoting third-party service providers to provide customers with innovative financial services and products. On November 2, 2022, the Central Bank of Saudi Arabia (SAMA) released the first open banking framework document. The programme is one of the key outcomes of the Saudi Central Bank's Open Banking Program, which includes a comprehensive set of legislation, regulatory guidelines and technical standards based on international best practices, enabling banks and fintech companies to offer open banking within the kingdom Serve.
Information link:
https://www.crowdfundinsider.com/2022/11/198311-saudi-arabia-sama-announces-issuance-of-open-banking-framework/#:~:text=SAMA%20announced%20the%20issuance%20of% 20the%20Open%20Banking,to%20provide%20open%20banking%20services%20in%20the%20Kingdom.%E2%80%9D
AVIC Trust: Create the ultimate wealth management digital and intelligent service "heart" experience for customers
In the era of digital economy, as the leader of trust technology, AVIC Trust takes the customer as the center to reshape the value of customer journey, actively builds a customer service value chain that covers the whole domain, the whole life cycle and the whole service process, and realizes the transition of wealth management digital intelligence service. upgrade. Among them, the AVIC Trust APP takes customer insight and the concept of trusteeship as the starting point and foundation, and relies on information technology to continuously improve its ability to perceive user needs and improve user experience, and is committed to providing customers with wealth management capabilities, risk control capabilities and digital technology capabilities. A more agile, more professional and more intelligent wealth journey in one.
Information link:
http://www.jx.chinanews.com.cn/news/2022/1110/71445.html
Zhang Bingxian, Ernst & Young’s South China Financial Services Lead Partner: Financial Opening Opens Up Incremental Markets for the Asset Management Industry Zhang Bingxian, Ernst & Young’s South China Financial Services Lead Partner, said in an exclusive interview with a reporter from Southern All Media that under the guidance and support of national policies, Guangdong-Hong Kong-Macao University The opening up of the wealth management market in the Bay Area is expanding in an orderly manner. The wealth management changes in the Greater Bay Area also highlight the trend of innovation and development in China's wealth management and asset management market. Zhang Bingxian believes that at present, the development of China's asset management industry is on the rise as a whole, and the diversified development pattern of banks, public fund companies, trusts, insurance, securities companies, and third-party institutions is gradually improving. In addition, from the perspectives of regulation, technology, products and business models, China's asset management market has ushered in a new stage of development.
Information link:
https://finance.sina.cn/money/?cpage=$cpage,1054&cpage=$cpage
WEALTH Wealth Management: Fund sales revenue shrinks, how bank wealth management shifts from sell-side sales to buy-side investment
"It is not easy for fund sales this year to be 30% of last year's." Some bank wealth managers said that market volatility since the end of last year was the main reason for the decline in fund sales. The market fluctuates constantly, and it is reasonable for investors not to increase their holdings of funds. However, some industry insiders pointed out that the wealth management business of banks cannot depend on the development of a certain type of product. Instead, it needs to be transformed from "product sales" to "buyer investment advice." Wealth management business can achieve sustainable development only by returning to the origin of serving customers and transforming from selling products to retaining customers.
Information link:
https://baijiahao.baidu.com/s?id=1748378343875572622&wfr=spider&for=pc
Liu Yan of Minmetals Trust: Key Elements for Wealth Management Business to Become Bigger and Stronger
For the wealth management business of trust companies, digital technology can not only empower front-end business lines, comprehensively improve business efficiency, expand business boundaries, reduce business costs, but also improve risk management levels and promote the integration of middle and back offices. . In addition, for the creation of a business ecosystem, especially for family trusts and family offices that emphasize long-term operation and management, comprehensive digital capabilities can better empower the company's business operations, improve operational efficiency, and better meet the diverse needs of customers. It is highly likely that it will become a key factor for the trust company's family wealth management business to become bigger and stronger.
Information link:
http://finance.sina.com.cn/money/bank/trust/2022-10-31/doc-imqqsmrp4370380.shtml
Meta layoffs plan to begin Wednesday morning, biggest in 20 years
Meta CEO Mark Zuckerberg told hundreds of executives that layoffs would begin Wednesday morning and took the blame on himself, saying he was responsible for the company's missteps and overstaffing, sources said, according to the Wall Street Journal. The layoffs could be the largest in its nearly 20-year history and are expected to affect thousands of employees.
Information link:
https://tech.hindustantimes.com/tech/news/mark-zuckerberg-to-fire-11000-meta-employees-in-2022-shocking-71667994341193.html
Indian device service platform Servify and Apple launch Protect+ service
Indian device service platform Servify and AppleCare jointly launched the Protect+ service for Apple users in India. This service includes unlimited repair and replacement services, smooth customer service such as same-day screen repair service, express delivery and on-site consultation to repair possible physical damage and mechanical failures of Apple products.
Information link:
https://servify.in/termsandconditions/servify-protect-powered-by-applecare-services
Musk plans to introduce payments to Twitter
Elon Musk talks to advertisers on Twitter Spaces on November 7, 2022. He said there may be plans to bring payments functionality to Twitter in the future, which could include offering high-yield money market accounts, debit cards and peer-to-peer payments. Meanwhile, the social media company filed documents with U.S. authorities to become a financial services business.
Information link:
https://mashable.com/article/elon-musk-twitter-spacex-advertising-starlink
Mind Universe received nearly 100 million yuan in investment and released MindOS, an AI character generation engine
AI character generation engine service provider Hangzhou Mindverse AI Technology Co., Ltd. (Mindverse AI, hereinafter referred to as "Mindverse AI") announced that it has completed nearly 100 million yuan in angel and angel + rounds of financing. Mind Universe was established at the end of January this year. Since its establishment, it has pioneered the UMM (Unified Mind Model) whole-brain framework and proposed the concept of digital mind.
Information link:
https://news.pedaily.cn/202211/503489.shtml
Mitsubishi UFJ enters Metaverse
Recently, Mitsubishi UFJ Financial Group, the world's leading financial services group and one of Japan's largest banking institutions, announced its entry into the Metaverse. In this plan, the company will be partnering with ANA Holdings' upcoming digital platform. MUFG hopes to enable its users to use the platform's services, and Sompo also hopes to provide insurance for transactions made in the metaverse. Program.
Information link:
https://www.sompo-intl.com/
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