Fintech Weekly | Issue 7

PayZen raises $20 million in equity financing to develop medical insurance fintech

Healthcare fintech company PayZen recently announced that it has raised $20 million in a new round of equity funding, led by 7wire Ventures, and secured a $200 million line of credit from Viola Credit. It plans to use the funds to expand operations and product development.

 

Information link:

https://www.crowdfundinsider.com/2022/11/198988-payzen-raises-200-million-in-credit-20-million-in-equity/

Comments: Founded in 2019, PayZen advocates a "care now, pay later" healthcare model. The startup pays a patient's invoice to a healthcare provider, then uses artificial intelligence to create a personalized repayment plan for the patient for up to 60 months, with no interest or fees.

 

UK pet insurance start-up Napo raises £15m

UK-based pet insurance startup Napo has closed a £15m Series A round led by DN Capital, with participation from Companion Fund, dmg ventures, FJ Labs, Helvetia Venture Fund, MTech Capital, Picus Capital, Sarona Partners and T0 ventures.

 

Information link:

https://www.napo.pet/

Comments: Napo was established in March 2021 and launched in October 2021. It claims to have more than 30,000 members and is expected to serve 150,000 members in the next few years. Napo acts as an intermediary, offering free veterinary video consultations in addition to pet insurance.

 

Employer financial care platform Brightside raises $33 million

Brightside, a San Francisco-based employer financial care platform, announced it has raised $33 million in Series B funding. The round was led by Obvious Ventures, with participation from existing investors Andreessen Horowitz (a16z) and Trinity Ventures, as well as Clocktower Technology Ventures and Chestnut Street Ventures. The company has raised more than $75 million to date.

 

Information link:

https://coverager.com/brightside-raises-33-million/

Comments: Brightside was established in 2017. From the perspective of the enterprise, it cooperates with the company to connect with individual employees. Through financial assistants and APPs, it uses professional financial management methods to plan financial management for employees. For example, reducing credit card interest and debt years, improving credit scores, etc.

 

Germany's omni:us closes €12 million funding round to support end-to-end claims automation technology

omni:us, a Germany-based provider of automation solutions for insurance claims management, has closed a €12 million Series A+ extension funding round. The company has raised funding from W&W subsidiary Württembergische Versicherung and current investors.

 

Information link:

https://www.theinsurer.com/news/german-insurtech-omnius-raises-12mn-in-series-a-extension/26494.article

Comments: omni:us was established in 2015 and has 68 labor and insurance experts from more than 20 countries. Its Digital Claims Adjuster (DCA) allows integration of end-to-end claims automation across outdated applications and current insurance core systems such as Guidewire, Sapiens and SAP.

Spott launches pay-per-sale insurance product for e-commerce

Israeli insurance startup Spott has announced the launch of its “pay-per-sale” liability insurance, which allows e-commerce sellers to pay insurance premiums based on sales volume, without exceeding the original premium amount. Pay-per-sale products use Spott's technology to collect and analyze business data, a feature that appears to be available only to Amazon sellers who choose to connect their stores to Spott.

 

Information link:

https://spott.ai/

Comments: Founded in 2022, Spott raised about $8 million. It works with several insurance companies, including The Hartford, Next Insurance, Coterie Insurance, Bold Penguin and Simply Business.

 

Assured Allies Launches Wellness Plan NeverStop

Assured Allies, a technology-enabled health company, has launched NeverStop, a technology-enabled health plan to create a new generation of long-term care (LTC) insurance that benefits individuals, families and insurers. Wellness programs use data and predictive models based on the latest aging science to help individuals stay active and connected. Participants can enroll in NeverStop as early as age 55 and receive additional coverage based on participation.

 

Information link:

https://www.assuredallies.com/pr/assured-allies-launches-neverstop-creating-a-new-era-of-successful-aging-for-the-growing-wellness-motivated-55-market/

Comment: Assured Allies was founded in 2018 with a mission to make successful aging easy by combining data, predictive analytics, science and human support. In 2020, the company launched AgeAssured, a no-cost program offered through long-term care insurers to individuals over age 75 who need help to continue living independently.

 

Nationwide partners with Human API

Nationwide, a well-known American life insurance company, announced a partnership with Human API to speed up the underwriting process and improve the life insurance buying experience by maximizing the use of digital health data. Human API's health intelligence platform connects electronic health data from thousands of sources across the U.S. "serving millions of Americans."

 

Information link:

https://www.humanapi.co/newsroom/nationwide-and-human-api-unite-to-automate-data-for-faster-underwriting

Comments: The platform gives Nationwide access to consumers' digital health data and eliminates the need to wait for labs or inspections.

 

Swiss Re's "Xinrui Zhinong" Smart Agricultural Risk Management Platform 2.0 Officially Released

At the Lujiazui Reinsurance International Conference being held a few days ago, Swiss Re released the version 2.0 of the "Xinrui Zhinong" intelligent agricultural risk management platform. The platform is based on agricultural big data such as remote sensing, meteorology, agricultural conditions, and agricultural losses, through nationwide high-precision spatial data and daily updated time frequency.

 

Information link:

https://mp.weixin.qq.com/s/D5JPrf3wmzQ9H0HzoXFKvw

Comment: Combining the agricultural disaster model and big data algorithm independently developed by Swiss Re, it provides insurance companies with multi-causal, multi-scale, real-time and instant quantitative risk assessment, helps the agricultural insurance industry to improve risk management capabilities, and improves the government and farmers' response to natural disasters toughness.

To regulate sustainable financial development, the European Central Bank and other institutions launch evidence collection on "greenwashing" behavior

The European Central Bank (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) have issued a call for evidence on “green washing”. This call is also driven by the need to better understand which areas may be more vulnerable to the risk of “greenwashing”, due to the growing demand for sustainability-related products and the rapid development of regulatory regimes and sustainability-related products.

 

Information link:

https://www.eba.europa.eu/esas-launch-joint-call-evidence-greenwashing#:~:text=The%20three%20European%20Supervisory%20Authorities%20%28EBA%2C%20EIOPA%20and,and %20to%20collect%20examples%20of%20potential%20greenwashing%20practices.

 

The Bank of Japan plans to start central bank digital currency testing in the spring of 2023

 On November 23, 2022, the Nikkei reported that the Bank of Japan has planned a digital yen experiment with the country's three major banks and regional banks. It is reported that this experiment will start in the spring of 2023. The Bank of Japan will test issues such as central bank digital currency (CBDC) deposits and withdrawals, whether it can operate during natural disasters and in areas without Internet coverage.

 

Information link:

https://finance.stockstar.com/IG2022112500000485.shtml

 

India Plans to Launch Retail Central Bank Digital Currency (CBDC) Tests in December

According to The Economic Times of India, the RBI is in the final stages of preparing to launch a retail digital rupee pilot. The participants include State Bank of India, Bank of Baroda, ICICI Bank, Union Bank of India, HDFC Bank, Kotak Mahindra Bank, Yes Bank and IDFC First Bank. At some point, the pilot will reportedly include all commercial banks in the country.

 

Information link:

https://cbdctracker.org/currency/india

 

Thailand and Vietnam officially launch cross-border QR payment connection

The State Bank of Vietnam and the Bank of Thailand have launched QR payment services since March 2021 as an alternative means of cross-border payments between the two countries. On November 17, 2022, Vietnam and Thailand officially launched the rapid response mechanism payment connection project. To illustrate a real-world use case for this connection, State Bank of Vietnam Deputy Governor Nguyen Kim Anh and Bank of Thailand Deputy Governor Ronadol Numnonda participated in a live demonstration of cross-border QR payments between Vietnam and Thailand, using their respective countries’ mobile banking apps program.

 

Information link:

https://fintechnews.sg/67000/thailand/thailand-and-vietnam-officially-launches-qr-payment-linkage/

G20 leaders endorsed the outcomes of the Working Group on Sustainable Finance, including the G20 Framework for Transition Finance

On November 16, the 17th G20 Summit concluded in Bali, Indonesia, where the outcomes of the G20 Working Group on Sustainable Finance, including the G20 Framework for Transition Finance, were endorsed. One of the main elements of this year's G20 Sustainable Finance Report is the G20 Framework for Transition Finance. The main purpose of the framework is to facilitate the financial sector to support the transition to low- and zero-carbon sectors with high carbon emissions.

 

Information Links:

https://en.antaranews.com/news/223109/g20-encourages-development-of-framework-for-financial-transition

 

London, UK, remains at the top of the global green finance rankings

In the latest Global Green Finance Index (GGFI) released on 27 October 2022, London once again topped the list, and improved its score by 4 points, far ahead in terms of quality and depth of green finance development. Amsterdam remains second in the overall ranking. New York is growing rapidly, moving up from fifth to third place.

 

Information Links:

http://ggfilaw.com/

 

The European Investment Bank and Allianz Investment increased their investment in renewable energy projects

Recently, at the United Nations COP27 meeting, the European Investment Bank (EIB) and AllianzGI, the global investment arm of Allianz Group (Allianz Investments), jointly announced the raising of US$100 million from Alcazar Energy Partners II, which aims to promote the development, construction and operation of renewable energy projects in the Middle East, North Africa, Eastern Europe and Central Asia.

 

Information Links:

https://www.allianzgi.com/en/press-centre/media/press-releases/cop27-eib-global-and-allianzgi-announce-100-million-dollars-for-renewable-energy-projects

 

CCCC Releases Corporate Standard "Environmental Benefit Information Disclosure Index System for China Bond Green Bonds"

On the basis of the previous draft for comments, after extensive research and opinion collection, the Central Treasury Bond Registration and Clearing Co., Ltd. officially released the enterprise standard "China Bond Green Bond Environmental Benefits Information Disclosure Index System", which is also the first time to release the enterprise standard in the field of green finance.

 

Information Links:

https://baijiahao.baidu.com/s?id=1749459215291079305&wfr=spider&for=pc

The SEC publishes its strategic plan for 2022-2026

On November 23, 2022, the U.S. Securities and Exchange Commission (SEC) released its fiscal year 2022-2026 strategic plan, which includes three main objectives: 1) to protect the investing public from the threat of fraud, manipulation, and misconduct; 2) develop and implement a robust regulatory framework to keep pace with evolving markets, business models and technologies; 3) Support a diverse, equitable, and inclusive skilled workforce and be well prepared to advance institutional goals.

 

Information Links:

https://www.sec.gov/news/press-release/2022-210

 

Singapore released the "Future Economy Skills Needs" report, and the digital and green sectors are growing rapidly

On 22 November 2022, Singapore's Deep Skills Development Agency released its 2022 Future Economic Skills Needs, the second time the government has released this annual report. The report identifies 18 emerging skill categories, including artificial intelligence and data analytics, environmental sustainability management, human-centred care, advanced manufacturing and supply chains. The aim is to help people plan careers and training by giving people an idea of which skills are in high demand in the economy of the future, and which transferable skills are in demand.

 

Information Links:

https://finance.sina.com.cn/money/forex/forexinfo/2022-11-23/doc-imqqsmrp7257951.shtml

 

The UK Monetary Authority has issued a warning against the application of gamification in stock trading

On November 22, 2022, the Financial Conduct Authority (FCA) of the United Kingdom issued a warning that some stock trading apps often provide special game features including the latest market news notifications, in-app points, badge collection, trading celebration information, etc., and frequent use of these features may cause some consumers to make investment decisions that exceed their risk tolerance, or even appear similar to gambling. Therefore, the FCA expects the above institutions to improve their products and provide support to customers who may be in the above situation if necessary.

 

Information Links:

https://www.fca.gov/

ICBC officially launched its open wealth management platform

Recently, ICBC officially launched an open wealth management platform on mobile banking, providing customers with full-journey accompanying services before, during and after investment through new community service models such as investment and education publicity, investment accompaniment, and product research and selection, making wealth investment more universal, convenient and intimate.

 

Information Links:

http://finance.sina.com.cn/roll/2022-11-24/doc-imqqsmrp7355143.shtml

 

UBS Wealth Management: Optimistic about the A-share daily consumer and utilities sectors

On November 25, UBS Wealth Management released a report saying that it is optimistic about the A-share daily consumption and utilities sectors. According to the report, its China-based asset allocation team upgraded the rating of A-share daily consumer stocks to "bullish". Private and corporate consumption is expected to pick up in the future, so the daily consumption sector should benefit and outperform the overall market.

 

Information Links:

https://www.cs.com.cn/yh/04/202211/t20221125_6310265.html

 

2022 China Banking and Insurance Wealth Management Forum was held

The "Stimulating New Economic Momentum and Win-Win Asset Management Era - 2022 China Banking and Insurance Wealth Management Forum" hosted by China Securities News was recently held in Beijing Financial Street. Participants said that 2022 is the first year of the full implementation of the new asset management regulations, and it is imperative for the asset management industry to develop from quantitative scale growth to qualitative structure optimization.

 

Information Links:

https://baijiahao.baidu.com/s?id=1750354270812672250&wfr=spider&for=pc

 

Wang Hongdong, General Manager of Wealth Management Department of China CITIC Bank: Seeking sustainable returns in a changing market

On November 15, the "2022 China Asset Management Annual Conference" was held in Shanghai. At the forum, Wang Hongdong, General Manager of Wealth Management Department of China CITIC Bank, shared his thoughts on the characteristics of investors' asset allocation and proposed solutions with the theme of "Seeking Unchanged in Change and Seeking Sustainable Returns in Changing Markets". Wang Hongdong pointed out that in recent years, China's economic growth has gradually slowed down, the interest rate center has continued to decline, and the yield of pure bond products has fallen again and again, making it more and more difficult to meet investors' demands for "profitability".

 

Information Links:

https://new.qq.com/rain/a/20221126A01PLT00

Oxford University Press Opens Voting for Best Vocabulary of the Year, "Metaverse" Selected

On November 22, 2022, Oxford University Press opened the public vote for the best vocabulary of the year for the first time, and announced the three shortlisted words for 2022, namely "Metaverse" (metaverse), "#IStandWith" and "Goblin Mode" . In a promotional video for Metaverse, Oxford University Press describes it as "a hypothetical virtual reality environment in which users interact with each other's avatars and their surroundings in an immersive manner".

 

Information link:

https://news.sky.com/story/word-of-the-year-2022-metaverse-goblin-mode-or-istandwith-for-the-first-time-ever-oxford-is-letting-you- decide-12753077

 

Visa Demonstrates Face Payments and More Innovations During World Cup

As FIFA's official payment technology partner, Visa plans to demonstrate a series of innovative technologies including facial payment at the World Cup in Qatar. It is reported that this World Cup is expected to attract more than 1 million fans to watch the game. For this reason, Visa installed 5,300 contactless payment terminals near the official venues, and cooperated with local banks to help small and medium-sized enterprises accept non-contact payments through NFC-enabled Android devices. Contact payment and the introduction of tap-to-pay in taxis.

 

Information link:

https://partner.visa.com/site/programs/visa-ready/tap-to-pay.html

 

Temasek: Exposure to Blockchain by Encouraging Entrepreneurship and Investment

According to reports, Singapore's national investment fund Temasek (Temasek) recently stated in a statement: "Innovative technologies, including blockchain technology, have the potential to change industries and create a more connected world. Blockchain and digital assets The rise of the industry has brought countless opportunities, but also huge risks." Innovative technology can bring about changes, but it is also accompanied by huge risks. Temasek has approached the blockchain field through a dual strategy of encouraging entrepreneurship and investment.

 

Information link:

https://www.temasek.com.sg/en/index

 

SoftBank sells 4.5% stake in Paytm parent for $200 million

On November 17, 2022, SoftBank Group sold its 4.5% stake in One 97 Communications, the parent company of Indian electronic payment giant Paytm, through a major transaction, worth as much as US$215 million, causing the company's stock price to fall sharply. The deal was executed at 555.67 rupees per share, according to two people with direct knowledge of the matter.

 

Information link:

https://www.zeebiz.com/companies/news-bulk-deals-three-fpis-morgan-stanley-bofa-securities-softbank-paytm-one-97-communication-paytm-share-price-anchor-lock- in-period-paytm-ipo-paytm-stock-news-208392

 

Apple spent millions of dollars to buy the copyright of FTX's bankruptcy novel, which is expected to be made into a feature film

According to Deadline, Apple is about to reach a copyright deal with the well-known author Michael Lewis on his book "The Fallen Cryptocurrency King Sam Bankman-Fried & FTX", which is expected to be made into a feature film. Deadline said the deal beat out stiff competition from the likes of Netflix and Amazon, and was worth around seven figures.

 

Information link:

https://www.hollywoodreporter.com/news/general-news/michael-lewis-ftx-book-apple-1235268602/

 

Disclaimer: The content contained in this article comes from public channels such as the Internet, WeChat official account, etc. We take a neutral attitude towards the views in this article, and this article is for reference and communication only.