The B3i blockchain insurance consortium was founded in October 2016 to focus on blockchain-based solutions for the insurance industry; it began with five companies and has now announced the addition of 10 new members; overall members of the consortium believe the technology has the potential to streamline paperwork and reconciliations, accelerate information and money flow, and significantly improve auditability; the consortium was created to develop a common set of standards and procedures around these initiatives; B3i plans to release an initial report on its research by June 2017. Source
The blockchain insurance consortium B3i has secured 38 members worldwide including Allianz, Swiss Re and AIG; the project would help these insurers move away from their paper based processes and secure contracts on distributed ledgers; right now blockchain is not widely used in insurance and the project is hoping to bring along the change; B3i estimates the changes could help the industry to save over 30 percent of costs. Source.
Banks working with fintech partners need to double down on risk and compliance quickly - starting with a comprehensive risk assessment.
Banks working with fintech partners need to double down on risk and compliance quickly - starting with a comprehensive risk assessment.
Banks working with fintech partners need to double down on risk and compliance quickly - starting with a comprehensive risk assessment.
Babel Finance, the world’s leading wholesale crypto financial services provider, announced the completion of a US$80 million Series B financing round at a valuation of US$2 billion.
Backbase, an engagement banking platform that enables banks and other financial institutions to accelerate digital transformation, announced it has joined the Microsoft Cloud for Financial Services, according to a press release sent to FinLedger.
The Silicon Valley Bank collapse highlighted the importance of a little-discussed but key feature of healthy banks and fintechs - backup servicing.
In an op-ed in American Banker the CEO and Founder of Promontory Financial Group, Eugene Ludwig, talks about the growing...
Central Bank of Bahrain (CBB) has announced the first members of its new regulatory sandbox: NOW Money and Tramonex; H.E. Khalid Al Rumaihi, chief executive of the Economic Development Board of Bahrain (EDB) explains to AltFi, "In addition to the development of the regulatory sandbox, we have a number of further initiatives we expect to be launched in the coming months including a venture capital fund-of-funds."; NOW Money offers users in the Gulf region mobile banking and Tramonex helps companies process and transfer funds online. Source