Things recently read, seen and heard at Qorus - 18 October 2024 edition

Look out for the Qorus team in Dubai next week for the Qorus Reinvention Awards - MEA 2024 and the Reinvent Forum Dubai 2024. We'd love to meet you there. Come and join us there: https://www.qorusglobal.com/event/27417-reinvent-forum-dubai-2024

Qorus Exclusive Content

Redefining competition: The role of generative AI in the banking sector

The banking industry, traditionally inclined more towards embracing proven technological innovations, is on the cusp of a transformation based on a new technology. Generative AI (GenAI) stands at the forefront of this great change, promising to redefine competitive dynamics and operational efficiencies. Fatih Ogun , Head of Strategy at Akbank , explores how GenAI impacts competition within the banking sector, illustrating its potential through some examples. Read Fatih's point of view: https://www.qorusglobal.com/content/28986-redefining-competition-the-role-of-generative-ai-in-the-banking-sector

Neobanks and the next step: Salmon

In January 2024, fintech Salmon secured regulatory approval to become a licensed bank in the Philippines. Pavel Fedorov , Co-Founder of Salmon Group Ltd , told Qorus' Boris Plantier more about this new bank and its plan for years to come. Read the interview: https://www.qorusglobal.com/content/28981-neobanks-and-the-next-step-salmon

NewTech Friday: Kredit Hero – Connecting SMEs with tailored loan solutions

By simplifying the loan application process and enhancing access to capital, Kredit Hero empowers SMEs to achieve their business goals and drive economic growth in the Southeast Asian region. Kredit Hero Co-Founder Michel de Rijk tells Qorus’ Boris Plantier more about it. Read the interview: https://www.qorusglobal.com/content/28982-newtech-friday-kredit-hero-connecting-smes-with-tailored-loan-solutions

Curated Industry News

Banca Widiba and iGenius partner to transform financial services with Generative AI for business intelligence

Banca Widiba , the digital financial advisory bank of the Montepaschi Group, has taken another step toward innovation by partnering with iGenius , an Italian leader in generative AI for Business Intelligence (BI). The collaboration is aimed at enhancing Widiba’s BI solutions by incorporating cutting-edge AI technologies to simplify data access and improve decision-making processes for financial advisors. Read the article: https://www.qorusglobal.com/content/28995-banca-widiba-and-igenius-partner-to-transform-financial-services-with-generative-ai-for-business-intelligence

FCA launches AI Lab to foster innovation in UK financial markets

The UK Financial Conduct Authority (FCA) has launched its AI Lab, a cutting-edge initiative aimed at fostering the safe and responsible use of artificial intelligence (AI) within the country's financial markets. Announced on October 17, 2024, the AI Lab serves as a hub for collaboration between firms, industry experts, regulators, and other stakeholders, offering insights into the growing role of AI in financial services. Read the article: https://www.qorusglobal.com/content/28998-fca-launches-ai-lab-to-foster-innovation-in-uk-financial-markets

Intesa Sanpaolo wins top honor at Qorus Innovation Awards for ESG scoring project

At the prestigious Qorus Infosys Finacle Banking Innovation Awards held on October 8, 2024, in Faro, Portugal, Intesa Sanpaolo claimed first place in the Social, Sustainable & Responsible Banking category for its innovative "ESG Scoring" project. This solution integrates Environmental, Social, and Governance (ESG) criteria into customer evaluations, addressing a key gap in the market by covering SMEs that typically lack access to formal ESG ratings. Rea the article: https://www.qorusglobal.com/content/29000-intesa-sanpaolo-wins-top-honor-at-qorus-innovation-awards-for-esg-scoring-project

TBC Bank Uzbekistan secures additional $10M credit facility from responsAbility Investments

TBC UZ ( TBC Bank Group PLC ), the country's leading mobile-only bank, has secured an additional $10 million credit line from responsAbility Investments AG , a Swiss impact asset manager. This marks the third credit facility between the two organizations, raising the total credit secured from responsAbility to $35 million. The funds will be used to further expand TBC UZ’s loan portfolio, diversify its funding base, and drive financial inclusion in Uzbekistan, the most populous country in Central Asia. Read the article: https://www.qorusglobal.com/content/28997-tbc-bank-uzbekistan-secures-additional-10m-credit-facility-from-responsability-investments

Aetna introduces SimplePay Health: Simplifying healthcare for members

Aetna, a CVS Health Company , has launched a new health plan called SimplePay Health, aimed at providing self-insured clients with an innovative, cost-effective, and straightforward healthcare experience. SimplePay Health focuses on reducing healthcare costs, improving outcomes, and offering an easier way for members to navigate their healthcare options. Read the article: https://www.qorusglobal.com/content/28993-aetna-introduces-simplepay-health-simplifying-healthcare-for-members

Coterie Insurance to launch cyber coverage for SMEs

Coterie Insurance , a leading insurtech MGA focused on streamlining small business insurance, has announced the introduction of cyber insurance on its platform. This new coverage is made possible through a partnership with Berkley Re (a Berkley Company) and TransUnion? ’s TruEmpower Cyberscout solutions. The collaboration enables Coterie to offer comprehensive cyber insurance services while maintaining its seamless user experience for agents and brokers. Read the article: https://www.qorusglobal.com/content/28988-coterie-insurance-to-launch-cyber-coverage-for-smes

Revolut Business partners with LegalPlace to support French entrepreneurs

Revolut Business, the business banking platform from Revolut, has announced a new partnership with LegalPlace , a French online platform that assists entrepreneurs with legal and accounting matters. This partnership aims to simplify the process of starting and managing businesses by providing a fully digital solution for handling legal and financial tasks. Read the article: https://www.qorusglobal.com/content/28989-revolut-business-partners-with-legalplace-to-support-french-entrepreneurs

Monzo Business expands offerings with new Team plan for growing small businesses

Monzo Bank , a leader in digital banking, continues to innovate with the introduction of its latest offering: the Monzo Business Team plan. Since launching its business accounts over four years ago, Monzo has been empowering sole traders and small businesses with intuitive banking solutions through its Lite and Pro plans. Now, with the Team plan, Monzo is catering to the needs of larger small businesses, offering them the tools and flexibility to streamline administrative tasks and financial management. Read the article: https://www.qorusglobal.com/content/28996-monzo-business-expands-offerings-with-new-team-plan-for-growing-small-businesses

Klarna now available as a payment option with Apple Pay in-app and online

Klarna , the AI-powered global payments network, is now available to 苹果 Pay users in the U.S. and U.K., providing more flexibility at checkout. Users of iPhone and iPad running iOS 18 and iPadOS 18 or later can choose Klarna’s payment options when shopping online or in-app with Apple Pay. Klarna's "Pay Later" feature allows customers to split payments into three or four installments with no interest, or over longer periods with APRs starting at 0%. Canada will also have access to Klarna's offerings in the coming months. Read the article: https://www.qorusglobal.com/content/28999-klarna-now-available-as-a-payment-option-with-apple-pay-in-app-and-online