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Ping An Reports RMB117,989 million of Operating Profit Attributable to Shareholders of the Parent Company in 2023, cash dividend increased for 12 consecutive years

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Life Insurance Rebounded with Life & Health NBV Growing 36.2%

HONG KONG and SHANGHAI, March 21, 2024 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An“, the “Company” or the “Group”, HKEX: 2318; SSE: 601318) today announced its financial results for the year ended December 31, 2023.

China’s economy and consumption growth still faced challenges. Amidst external market pressures, internal operational challenges, and the persistent impact of a three-year pandemic, Ping An focused on core financial businesses and strengthened the insurance protection function to serve the real economy under its business policy of “focusing on core businesses, boosting incomes and cutting costs, optimizing portfolios, and improving quality and efficiency.” Following the technology-driven “integrated finance + healthcare and elderlycare” strategy, Ping An continuously consolidated its integrated finance advantages, remained customer needs-oriented, and pursued high-quality development. 

The overall operating results for the last year remained solid, demonstrating resilience. The Group’s operating profit attributable to shareholders of the parent company reached RMB117,989 million, and net profit attributable to shareholders of the parent company reached RMB85,665 million in 2023. Basic operating earnings per share reached RMB6.66. Three core businesses, namely Life & Health, property and casualty insurance, and banking, maintained steady performance. The three businesses delivered RMB140,913 million in operating profit attributable to shareholders of the parent company. Full year cash dividend is RMB2.43 per share, up 0.4% year on year, with total cash dividend increasing for 12 consecutive years. Life insurance returned to growth. Life & Health NBV grew 36.2% like for like driven by a 40.3% rise in agent channel NBV. Ping An continued to advance the “Integrated Finance + Healthcare and Elderlycare” synergistic strategy. The Group’s retail customers increased to 232 million as of December 31, 2023; 25.3% of them held four or more contracts within the Group, with a retention rate of 97.7%; nearly 64% used services from the healthcare and elderlycare ecosystem as of December 31, 2023. Customers entitled to service benefits in the healthcare and elderlycare ecosystem accounted for over 73% of Ping An Life’s NBV in 2023.

Ten business highlights in 2023:

  1. Ping An achieved steady development of core businesses. The Group’s operating profit attributable to shareholders of the parent company reached RMB117,989 million in 2023. Three core businesses, namely Life & Health, property and casualty insurance, and banking, remained steady, generating RMB140,913 million in operating profit attributable to shareholders of the parent company.
  2. Cash dividend has increased for 12 consecutive years. Attaching importance to shareholder returns, Ping An plans to pay a final dividend of RMB1.50 per share in cash for 2023. Full year cash dividend is RMB2.43 per share, up 0.4% year on year. Cash dividend payout ratio based on operating profit attributable to shareholders of the parent company is 37.3%, with total dividend increasing for 12 consecutive years.
  3. Life & Health achieved steady business development, enhanced comprehensive strength in channels, and delivered significant results in high-quality development. Life & Health NBV grew 36.2% like for like driven by a 40.3% rise in agent channel NBV due to an 89.5% increase in NBV per agent and continued strong momentum in the newly reformed bancassurance channel where NBV climbed 77.7% in 2023. Based on the latest assumptions including the return on investment and the risk discount rate, NBV of L&H amounted to RMB31,080 million. The 13-month persistency ratio rose 2.5 pps year on year.
  4. Ping An P&C maintained good business quality with steady revenue growth. Ping An P&C’s insurance revenue rose 6.5% year on year to RMB313,458 million in 2023. Overall combined ratio excluding guarantee insurance was 98.4%. Auto insurance combined ratio was 97.7%, better than the market average, or 96.6% excluding the impacts of natural disasters.
  5. Ping An delivered excellent results in insurance funds investment. Despite a complex and volatile market environment, Ping An’s insurance funds investment portfolio achieved a comprehensive investment yield of 3.6% in 2023, up by 0.9 pps year on year. The portfolio achieved a 5.2% average net investment yield and a 5.4% average comprehensive investment yield over the past decade, higher than the EV long-run investment return assumption.
  6. Ping An Bank maintained steady business performance and adequate risk provisions. Net profit increased 2.1% year on year to RMB46,455 million in 2023. Non-performing loan ratio was 1.06% and provision coverage ratio was 277.63% as of December 31, 2023.
  7. Ping An continued to develop its integrated finance model. Retail customers increased to 232 million as of December 31, 2023; 25.3% of them held four or more contracts within the Group, with a retention rate of 97.7%.
  8. Ping An continued to implement its healthcare and elderlycare ecosystem strategy, empowering its core businesses with differential advantages. By integrating providers, Ping An partnered with all top 100 hospitals and 3A hospitals, and accumulated about 50,000 in-house and contracted external doctors in China as of December 31, 2023. Ping An partnered with approximately 230,000 pharmacies as of December 31, 2023, up by nearly 6,000 from the beginning of 2023. Customers entitled to service benefits in the healthcare and elderlycare ecosystem accounted for over 73% of Ping An Life’s NBV in 2023.
  9. Ping An actively fulfilled its social responsibilities and supported the real economy. Ping An cumulatively invested over RMB8.77 trillion as of December 31, 2023 to bolster the real economy. Green investment of insurance funds and green loan balance totaled RMB128,568 million and RMB146,345 million respectively as of December 31, 2023. Green insurance premium income amounted to RMB37,296 million in 2023. Ping An has provided RMB117,882 million for poverty alleviation and industrial vitalization since the launch of “Ping An Rural Communities Support.” Ping An maintained “A” in MSCI ESG Ratings in 2023, remaining No.1 in the multi-line insurance and brokerage industry in the Asia-Pacific region.
  10. Ping An further increased its brand value. In 2023, Ping An ranked 33rd in the Fortune Global 500 list (1st among global insurers again and 5th among global financial services companies), 9th in the Fortune China 500 list, 16th in the Forbes Global 2000 list, and 1st in the Brand Finance Insurance 100 list in relation to global insurance brand value for the 7th consecutive year.

Life & Health delivered significant results in high-quality development with NBV growing 36.2% like for like.

Ping An Life continued to enhance its channels and improve business quality under the “4 channels + 3 products” strategy in 2023[1]. Life & Health NBV grew 36.2% like for like in 2023. Based on the latest assumptions including the return on investment and the risk discount rate, NBV of L&H amounted to RMB31,080 million. Ping An Life recorded a material improvement in its persistency ratios with the 13-month persistency ratio rising 2.5 pps year on year and 25-month persistency ratio rising 6.8 pps year on year in 2023.

The development of four channels showed significant results. In respect of the agent channel, Ping An Life advances the high-quality transformation of the agent channel and improves the team structure. On a like-for-like basis, agent channel NBV grew 40.3%, and income per agent increased 39.2% in 2023. Proportion of “Talent +” new agents increased by 25.2 pps year on year in 2023. In respect of the bancassurance channel, Ping An Life furthered the exclusive agency model with Ping An Bank. On a like-for-like basis, bancassurance channel NBV grew 77.7% in 2023, indicating high-quality, leapfrog growth with a significant increase in the channel’s contribution. In respect of the Community Grid channel, Ping An Life has set up 65 Community Grid outlets in 51 cities. Ping An Life’s 13-month policy persistency ratio of “retained customers” in the cities with Community Grid outlets improved by 5.4 pps year on year. In respect of the lower-tier channel, Ping An Life continuously promoted sales in seven provinces in 2023.

Ping An Life further diversified wealth management and insurance products, developed the pension insurance market, and consolidated insurance protection business. By leveraging the Group’s healthcare and elderlycare ecosystem, Ping An Life steadily advanced its three core services, namely the healthcare, home-based elderlycare, and high-end elderlycare. In respect of “insurance + healthcare”, Ping An Life provided health management services to over 20 million customers in 2023, and about 76% of Ping An Life‘ s newly-enrolled customers used health management services in 2023. In respect of “insurance + home-based elderlycare”, Ping An’s home-based elderlycare services covered 54 cities across China as of December 31, 2023. Over 80,000 customers have qualified for the home-based elderlycare services, giving positive general feedback. In respect of “insurance + high-end elderlycare,” Ping An has unveiled high-end elderlycare projects in four cities as of December 31, 2023, including a “Ping An Zhen Yi Nian” experience center opened in Sanya, Hainan Province in July 2023.

Ping An maintained steady growth in P&C and banking businesses, delivered excellent results in insurance funds investment, and continuously advanced its integrated finance strategy.

Ping An P&C maintained good business quality with steady revenue growth. Ping An P&C’s insurance revenue rose 6.5% year on year to RMB313,458 million in 2023. Overall combined ratio excluding guarantee insurance was 98.4%. Auto insurance combined ratio was 97.7%, better than the market average, or 96.6% excluding the impacts of natural disasters. Ping An P&C has been honored as “No.1 Brand” in China’s auto insurance and property and casualty insurance markets by the Ministry of Industry and Information Technology for 13 consecutive years. Ping An P&C’s “Ping An Auto Owner” app ranks as the largest automotive service app in China having accumulated over 200 million registered users as of December 31, 2023, with over 136 million vehicles linked to it. With leading online claims services, Ping An P&C scored 94.52 in the Auto Insurance Service Quality Index evaluation by China Banking and Insurance Information Technology Management Co., Ltd., ranking among top players in the property and casualty insurance industry.

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Ping An Bank maintained steady business performance and stable asset quality. Net profit grew by 2.1% year on year to RMB46,455 million in 2023. Non-performing loan ratio was 1.06% and provision coverage ratio was 277.63% as of December 31, 2023, indicating adequate risk provisions. Retail assets under management (“AUM”) rose 12.4% from the beginning of 2023 to RMB4,031,177 million, and retail deposit balance grew by 16.7% from the beginning of 2023 to RMB1,207,618 million as of December 31,2023. Retail business realized high-quality sustainable development.

Ping An delivered excellent results in insurance funds investment. The Company’s insurance funds investment portfolio grew 9.0% from the beginning of 2023 to over RMB4.72 trillion as of December 31, 2023. The portfolio achieved a comprehensive investment yield of 3.6% in 2023, up by 0.9 pps year on year. The portfolio achieved a 5.2% average net investment yield and a 5.4% average comprehensive investment yield over the past decade, higher than the EV long-run investment return assumption.

Ping An’s integrated finance strategy is focused on deepening engagement with retail customers and developing customer groups under a customer-centric business philosophy. Integrated finance brings higher operational efficiency to Ping An, reflected especially by lower customer acquisition cost, lower management and service costs, and higher customer retention rates. The Group’s retail customers increased 2.2% from the beginning of 2023 to 232 million as of December 31, 2023; 25.3% of them held four or more contracts within the Group, with a retention rate of 97.7%. Contracts per retail customer reached 2.95. Over 88.01 million retail customers held multiple contracts with different subsidiaries.

Further developing the healthcare and elderlycare ecosystem as a new driver of value growth. 

Ping An has launched an innovative Chinese “managed care model” by leveraging its more than ten years of operational and management experience in insurance and healthcare industries. The model covers multiple business lines, including finance, healthcare, and technology. Ping An builds its service moat by empowering retail financial customers and corporate clients as well as developing an online flagship medical platform. Ping An seamlessly combines differentiated healthcare and elderlycare services with financial businesses in which Ping An acts as a payer. By acting as a payer and integrating providers, Ping An offers the most cost-effective healthcare and elderlycare services under unique business models.

Over the past decade, Ping An has been building a healthcare and elderlycare ecosystem in China with increasingly significant differential advantages including online, in-store and home-delivery service capabilities, wide coverage of hundreds of healthcare and elderlycare service resources, and access to high-quality proprietary resources. This is very important for quality assurance purposes. Ping An had about 50,000 in-house and contracted external doctors as of December 31, 2023. Moreover, Ping An partnered with over 36,000 hospitals (including all top 100 hospitals and 3A hospitals in China), over 100,000 healthcare management institutions and approximately 230,000 pharmacies as of December 31, 2023.

Ping An’s healthcare and elderlycare ecosystem is creating both standalone direct value and significant indirect value by empowering core financial businesses through differentiated “Product + Service” offerings. Nearly 64% of Ping An’s 232 million retail customers used services from the healthcare and elderlycare ecosystem as of December 31, 2023. They held approximately 3.37 contracts and RMB55,900 in AUM per capita, 1.6 times and 3.5 times those held by non-users of these services respectively. Customers entitled to service benefits in the healthcare and elderlycare ecosystem accounted for over 73% of Ping An Life’s NBV in 2023. In 2023, Ping An achieved over RMB140 billion in health insurance premium income; Ping An’s healthcare ecosystem had over 56,000 paying corporate clients; Ping An Health (formerly known as Ping An Good Doctor) had nearly 40 million paying users over the past 12 months.

Technological innovations empowered core businesses and enhanced efficiency and quality. Ping An had a first-class technology team of over 20,000 technology developers and over 3,000 scientists as of December 31, 2023. With 51,533 patent applications in total, the Group ranked first globally by the number of patent applications in both fintech and healthcare. Renewal premiums collected via self-service under smart guidance increased by 13% year on year to RMB300.3 billion in 2023. The volume of services provided by AI service representatives reached about 2.22 billion times. Claims loss reduction via smart risk identification increased by 16.0% year on year to RMB10.82 billion in 2023. Ping An engages in technology business through member companies including Lufax Holding, OneConnect, Ping An Health and Autohome, providing diverse products and services for ecosystem users, with significant synergies.

Ping An actively fulfilled its social responsibilities and furthered green finance initiatives. The Group cumulatively invested over RMB8.77 trillion as of December 31, 2023 to bolster the real economy. The investments cover China’s major projects including energy, transportation, and water conservancy. Ping An P&C provided over 1,500 key engineering projects across the country with over RMB3.9 trillion worth of insurance coverage, and supported national strategic initiatives including the Belt and Road Initiative and the development of the Guangdong Hong Kong-Macao Greater Bay Area. Green investment of insurance funds and green loan balance totaled RMB128,568 million and RMB146,345 million respectively as of December 31, 2023. Green insurance premium income amounted to RMB37,296 million in 2023. Ping An has provided RMB117,882 million for poverty alleviation and industrial vitalization since the launch of “Ping An Rural Communities Support.”

To develop into a financial powerhouse, China has a long, long way to go. In 2024, Ping An will comprehensively implement the spirit of China’s Central Financial Work Conference and adhere to the business policy of “focusing on core businesses, boosting incomes and cutting costs, optimizing portfolios, and improving quality and efficiency” under a people-centered and customer needs-oriented approach. Ping An will continuously strengthen risk management, improve operations, and enhance financial service capabilities and coverages. Ping An will advance its technology-driven “integrated finance + healthcare and elderlycare” strategy and pursue high-quality development. Moreover, Ping An will comprehensively develop TechFin, green finance, inclusive finance, pension finance, and digital finance. By doing so, Ping An will create robust and sustainable long-term value for customers, employees, shareholders and society, contributing to China’s development into a financial powerhouse.

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[1] 4 channels include agent channel, bancassurance channel, Community Grid channel, and lower-tier channel, and 3 products include insurance + healthcare, insurance + home-based elderlycare, and insurance + high-end elderlycare.

– End–

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Empower Web3 Startups- WConnect Launches Soon

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HONG KONG, Feb. 15, 2025 /PRNewswire/ — CoinW, a global leader in cryptocurrency trading, proudly announces the launch of its flagship online forum series, WConnect – Connecting Legends. This initiative is designed to unite CoinW users with iconic Layer 1 blockchains and their transformative projects. By collaborating with leading ecosystems like Solana, and other prominent players, WConnect seeks to empower the next wave of Web3 unicorns.

The series will offer a dynamic space where industry leaders, developers, and enthusiasts converge to exchange ideas, explore trends, and ignite innovation. WConnect stands as a beacon of opportunity, fostering a vibrant ecosystem where visionary startups can flourish.

Connecting Blockchain Ecosystems 

WConnect is a flagship online forum series introduced by CoinW. 

It aims to bring together industry leaders and developer communities in different blockchain ecosystems to jointly explore industry trends. This is a great opportunity to exchange technical experience and explore development opportunities. 

The WConnect series will play a key role in this cooperation as a core platform, which will promote blockchain collaboration and amplify the impact of innovation. 

It will focus on in-depth discussions around the following key themes:

AI, RWA and DeFi Trends: Explore industry innovation and breakthrough developments.
Professional Trading Strategies: Share trading strategies and discover potential projects.
Layer 1 Ecosystem: Focus on potential projects in Sui, Solana ecosystem.
Project Development Challenges: Get valuable guidance from the experience of front-line developers.
Web3 Future Development: Prospects for industry-wide adoption and trends in innovation.

WConnect’s online events will be broadcast simultaneously on Twitter Space and YouTube. At the same time, CoinW’s global users can likewise access its events through CoinW’s live channel. 

Each episode will further expand WConnect’s reach through recordings and highlight clips, connecting with users in the CoinW ecosystem.The first episode of the WConnect series will focus on the role of Layer 1 ecosystems in promoting blockchain innovation and growth. Mainstream Layer 1 projects built on Sui and Solana will be among the topics for discussion. 

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Industry movers and shakers, technical experts and community leaders from popular projects, media partners such as Cointelegram will be invited to share progress within their projects. They are also encouraged to provide input on future development directions. 

$100,000 Prize Pool Trading Competition 

To celebrate this milestone, CoinW is launching a $100,000 Trading Competition Series. The competitions will showcase standout projects like CETUS, NAVX, SCA, and HIPPO, with diverse reward categories such as new user incentives, daily trading bonuses, and competitive trading challenges with generous USDT prizes.

  • New User Rewards: Register and trade at least $100 USDT in SUI, CETUS, NAVX, SCA, or HIPPO to receive 5 USDT. A total of 10,000 USDT is available on a first-come, first-served basis.
  • Daily Trading Challenge: Trade $100 USDT or more each day to qualify for a weekly prize pool of $5,000 USDT, encouraging consistent participation and engagement.
  • SCA Trading Challenge: Compete for a share of a 20,000 USDT prize pool by trading at least $100 USDT in SCA/USDT, with rewards distributed based on trading volume.
  • NAVX Lucky Lottery: Trade a minimum of $200 USDT in NAVX/USDT to enter a lucky draw and win prizes ranging from 5 to 20 USDT. A total of 600 winners will be selected randomly.
  • CETUS Net Purchase Contest: Compete for a share of 10,000 USDT by ranking in the top 30 net CETUS purchasers. An additional 5,000 USDT will be distributed proportionally to participants who trade at least $100 USDT.
  • HIPPO Trading Safari: Reach specified trading volume milestones to win rewards from a 10,000 USDT prize pool, with limited spots available for each tier.

Additionally, join WConnect’s airdrop event by completing simple social tasks, such as joining the official Telegram group and sharing event posts. Participants will enter a draw to win USDT and Sui token rewards.

Expanding Influence 

CoinW’s WConnect series will initially focus on the Sui and Solana ecosystem. This also marks a continuation of CoinW’s partnership with Solana, reinforcing the collaboration established earlier through initiatives such as the Solana Founders Villa. As highlighted in their previous partnership, CoinW and Solana have jointly supported emerging Web3 founders, fostering innovation and ecosystem growth. Through WConnect, CoinW and Solana will continue working together, providing resources and exposure to promising projects in the Solana ecosystem and beyond.

Moving forward, WConnect will continue expanding its scope, featuring other leading Layer 1 ecosystems to empower more projects and developers.

About CoinW

Founded in 2017, CoinW is a globally trusted cryptocurrency exchange serving over 13 million users in 14 countries. With cutting-edge technology, advanced security, and a focus on empowering blockchain innovation, CoinW supports communities worldwide in realizing the transformative power of digital assets.

Twitter Official:https://twitter.com/CoinWOfficial

Research Institute Telegram: https://t.me/CoinW_Research

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Fintech Pulse: Your Daily Industry Brief – February 14, 2025: Pagaya Technologies, Morningstar, Ericsson & More

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Introduction

In today’s fast‑paced world of financial technology, every headline is more than just a news item—it’s a glimpse into the future of banking, investment, and digital transformation. Welcome to Fintech Pulse: Your Daily Industry Brief, where we unpack the latest trends, partnerships, and technological breakthroughs shaping the industry. On this day, February 14, 2025, we delve into stories ranging from a significant revenue jump by Pagaya Technologies to groundbreaking collaborations involving Ericsson, Morningstar, and other industry pioneers. Our op‑ed‑style analysis is designed to not only inform but also provide critical insights into how these developments are set to redefine financial services for consumers and enterprises alike.

The fintech landscape has been evolving at breakneck speed over the past few years, and today’s stories highlight a common theme: innovation driving growth. With artificial intelligence, cybersecurity, and digital partnerships at the forefront, the industry is experiencing transformative changes that are changing the way financial institutions operate, and how customers interact with their money. In this article, we break down the nuances of each headline, evaluate the broader industry implications, and offer a perspective on what these developments might mean for the future of fintech.

Let’s start with a closer look at Pagaya Technologies, whose impressive revenue performance signals both internal strategic excellence and a broader trend in fintech growth.


Pagaya Technologies’ Revenue Surge: A Beacon for Fintech Innovation

Pagaya Technologies has captured the attention of investors and industry experts alike, following news that its revenue surged by 28% in the last quarter. This impressive leap not only underscores the company’s robust business model but also serves as a clear indicator of the broader momentum within the fintech sector.

The Significance of the Revenue Jump

Pagaya’s 28% revenue increase is far from an isolated financial metric—it’s emblematic of a larger wave of digital disruption. In an era where traditional banks are being upended by innovative fintech startups, Pagaya’s performance offers a glimpse into how leveraging data analytics, machine learning, and sophisticated risk‑assessment models can drive substantial growth. As investors search for companies with the agility to adapt to rapidly changing market conditions, Pagaya stands out as a prime example of success fueled by cutting‑edge technology and agile management practices.

Beyond the headline figure, the revenue surge reflects the company’s ability to innovate in an increasingly competitive environment. Fintech firms are now more than ever expected to blend financial expertise with technological prowess. In Pagaya’s case, the growth is a testament to its strategic emphasis on data‑driven decision‑making and operational efficiency—a model that many traditional financial institutions are scrambling to emulate.

Strategic Implications and Market Positioning

From an operational standpoint, the revenue jump has several implications. First, it demonstrates that fintech companies are capable of scaling operations quickly while maintaining robust profit margins. For Pagaya, this performance may signal the success of targeted customer acquisition strategies and optimized product offerings designed to meet the evolving needs of digitally savvy consumers.

Moreover, such strong financial performance reinforces investor confidence, creating a positive feedback loop that may spur further capital inflows. This, in turn, enables additional investments in research and development, ensuring that Pagaya remains at the forefront of innovation in an industry characterized by rapid technological change. For competitors and market analysts alike, this development is a call to revisit traditional models and embrace digital transformation strategies.

Challenges and Future Outlook

While the 28% revenue increase is an undeniably positive sign, it is not without its challenges. Rapid growth can bring issues of scalability, regulatory scrutiny, and heightened competition. In particular, as more fintech companies aim to replicate Pagaya’s success, market saturation could become a real concern. However, the company’s commitment to innovation and operational excellence suggests that it is well‑positioned to tackle these hurdles head‑on.

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Looking ahead, the sustainability of this growth will depend on Pagaya’s ability to continuously innovate and adapt to shifting market dynamics. With increasing demand for digital financial services, companies like Pagaya are expected to invest heavily in technologies that enhance customer experience while ensuring compliance with evolving regulatory frameworks. If successful, such investments could help secure long‑term profitability and set new benchmarks for fintech performance.

Source: The Motley Fool


Cybersecurity and GenAI: The Convergence Shaping Financial Services

In parallel with growth stories like Pagaya’s, another transformative trend is emerging at the intersection of cybersecurity and artificial intelligence. Recent developments highlight how GenAI (Generative Artificial Intelligence) is being implemented in financial services to fortify IT security frameworks. This convergence is more than a technological upgrade—it’s a strategic imperative in an age where cyber‑threats are evolving as quickly as the innovations designed to stop them.

The Growing Importance of Cybersecurity in Fintech

As fintech companies increasingly rely on digital infrastructures, the security of these systems becomes paramount. Cyber‑attacks are no longer just a risk to traditional banking—they pose a significant threat to any institution that manages sensitive financial data. In this context, the integration of GenAI into cybersecurity protocols represents a proactive approach to safeguarding information assets and maintaining customer trust.

GenAI offers a dynamic method for detecting and responding to security breaches in real‑time. By analyzing patterns and identifying anomalies faster than traditional systems, AI‑driven cybersecurity solutions can preemptively counteract potential threats. This is particularly crucial in the financial services sector, where a single breach can compromise millions of dollars and jeopardize customer confidence.

How GenAI is Transforming Security Practices

The implementation of GenAI in financial services is enabling organizations to move from reactive security measures to proactive defenses. AI algorithms are now capable of processing vast amounts of data to identify suspicious activities before they escalate into full‑blown breaches. This shift is revolutionizing the way banks and fintech companies approach risk management.

Moreover, the technology’s predictive capabilities are helping organizations to anticipate emerging threats. By continuously learning from new data inputs, GenAI systems can adapt to novel attack vectors and devise countermeasures in real‑time. This dynamic learning process is essential in an environment where cyber‑criminals are constantly devising innovative strategies to exploit vulnerabilities.

Strategic Considerations and Industry Impact

For financial institutions, the strategic adoption of GenAI isn’t just about defense—it’s also about competitive advantage. Companies that invest in these technologies signal to the market that they are committed to protecting their customers’ assets and sensitive information. This, in turn, can enhance brand reputation and attract a more security‑conscious clientele.

From a broader industry perspective, the integration of GenAI into cybersecurity frameworks is poised to become a standard practice. As regulatory bodies increasingly emphasize data protection and risk management, fintech companies that fail to adopt advanced security measures may find themselves at a competitive disadvantage. The convergence of AI and cybersecurity, therefore, is not only a technical evolution—it’s a strategic necessity for survival and growth in the modern digital economy.

Source: Fintech News

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Morningstar’s Fintech Partnership with SSC: Charting a New Course in Data and Analytics

In another significant development, Morningstar has announced a strategic partnership with SSC, a move that underscores the growing importance of collaboration between traditional financial institutions and fintech innovators. This partnership is designed to leverage Morningstar’s deep expertise in data analytics and SSC’s technological prowess to deliver enhanced insights and services to the market.

The Strategic Rationale Behind the Partnership

At its core, the collaboration between Morningstar and SSC represents a fusion of data‑driven insights with cutting‑edge fintech solutions. For Morningstar, a company renowned for its comprehensive financial data and analytics, partnering with SSC opens up new avenues for innovation. The alliance is expected to lead to the development of more sophisticated tools that can better serve investors, analysts, and financial advisors.

This partnership is particularly timely, as the financial services industry grapples with the dual challenges of data overload and the need for actionable intelligence. By integrating SSC’s advanced technological solutions with Morningstar’s robust data infrastructure, the new initiative aims to streamline data processing and improve the accuracy of financial forecasting. The result is expected to be a more agile, responsive, and insightful approach to investment management.

Impact on the Financial Ecosystem

The benefits of the Morningstar‑SSC partnership extend beyond the immediate scope of data analytics. In today’s competitive landscape, access to real‑time, high‑quality data is a key differentiator for financial institutions. By enhancing its analytical capabilities, Morningstar is positioning itself as a leader in the fintech space, capable of delivering more value to its customers and staying ahead of industry trends.

Moreover, the collaboration is likely to foster a culture of innovation across the sector. As traditional financial institutions embrace partnerships with tech firms, the industry is set to experience a wave of creative solutions that address longstanding challenges such as market volatility, risk management, and regulatory compliance. This shift towards collaborative innovation is essential for the continued evolution of financial services, ensuring that institutions remain resilient and competitive in a rapidly changing market.

Looking Ahead: Opportunities and Challenges

While the Morningstar‑SSC partnership holds immense promise, it also comes with its share of challenges. Integrating disparate systems and aligning strategic priorities across organizations can be complex. However, if managed effectively, the benefits far outweigh the risks. Enhanced data analytics can lead to better investment strategies, improved customer experiences, and ultimately, higher returns for investors.

In an era where the line between finance and technology is increasingly blurred, collaborations like this one are paving the way for a new era of data‑driven decision‑making. As the industry continues to evolve, the ability to harness vast troves of data in real‑time will be a critical factor in determining which firms emerge as true innovators and market leaders.

Source: Investment News


Ericsson and IIT Delhi: Collaborative Research in Mobile Financial Services

In another exciting development within the fintech ecosystem, Ericsson has teamed up with IIT Delhi to drive research into mobile financial services. This collaboration represents a forward‑thinking initiative that seeks to merge telecommunications expertise with financial innovation—an alliance that promises to accelerate the evolution of mobile banking and digital payments.

The Role of Collaboration in Driving Innovation

Ericsson’s partnership with one of India’s premier technological institutes highlights the growing recognition that innovation in fintech often springs from cross‑sector collaboration. Mobile financial services are rapidly becoming the backbone of digital economies worldwide, and research initiatives like this one are critical to overcoming the challenges of scalability, security, and user adoption.

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By combining Ericsson’s global telecommunications leadership with the academic rigor and research capabilities of IIT Delhi, the collaboration is set to explore new frontiers in mobile connectivity, secure transactions, and user interface design. The ultimate goal is to create a robust framework that not only improves the accessibility and efficiency of mobile banking services but also ensures that these services remain secure and resilient in the face of emerging cyber threats.

Implications for Mobile Financial Services

The implications of this partnership are far‑reaching. For consumers, enhanced mobile financial services mean more reliable, secure, and user‑friendly access to banking and payment solutions. For financial institutions, it represents an opportunity to tap into innovative research that could drive cost savings, improve service delivery, and foster a more inclusive financial ecosystem.

Furthermore, as mobile connectivity becomes increasingly central to everyday life, initiatives that enhance the infrastructure and security of mobile financial services will play a crucial role in bridging the digital divide. By making banking more accessible to remote and underserved populations, Ericsson and IIT Delhi’s research could contribute significantly to financial inclusion—a key goal for many emerging economies.

Research Focus and Future Prospects

While the specifics of the research agenda are still emerging, early indicators suggest that the collaboration will focus on several critical areas. These include next‑generation authentication protocols, advanced encryption methods, and the integration of emerging technologies like 5G and edge computing into mobile financial platforms. Such innovations are poised to revolutionize the user experience, making mobile transactions not only faster but also safer.

The success of this initiative could set a precedent for similar collaborations worldwide, demonstrating that academia and industry working in tandem can yield breakthroughs that benefit the entire financial services ecosystem. As the research progresses, it will be interesting to see how these innovations are adopted and scaled across different markets, potentially reshaping the future of digital banking.

Source: The Fast Mode


Mapping the Future: Neobanks, BNPL, and Retail Fintech Trends in 2024

A comprehensive market map published by PitchBook has shed light on the dynamic and rapidly evolving world of neobanks, Buy-Now-Pay-Later (BNPL) solutions, and retail fintech. This analysis provides a valuable snapshot of the current competitive landscape, revealing both opportunities and challenges that lie ahead for companies operating in these domains.

The Rise of Neobanks and Digital-First Solutions

Neobanks have emerged as disruptors in an industry once dominated by traditional brick‑and‑mortar institutions. By offering a completely digital banking experience, these institutions have managed to capture the attention of tech‑savvy consumers seeking convenience, transparency, and lower fees. The PitchBook market map indicates that neobanks are not only growing in number but are also expanding their service offerings to include everything from personal finance management to small business loans.

The data suggests that neobanks are poised to play a pivotal role in the future of banking. Their ability to operate without the overhead of physical branches enables them to offer competitive pricing and innovative product features that appeal to a broad spectrum of customers. For investors, the rapid expansion of neobanks represents an opportunity to back companies that are at the forefront of digital transformation in financial services.

BNPL: A Paradigm Shift in Consumer Financing

The Buy-Now-Pay-Later model is another trend that is reshaping consumer finance. BNPL services allow consumers to make purchases immediately while deferring payment, typically without incurring interest—provided payments are made on time. This model has gained popularity, especially among younger consumers who prefer flexible payment options and a seamless online shopping experience.

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PitchBook’s analysis reveals that BNPL providers are rapidly scaling up their operations, fueled by rising consumer demand and the growing acceptance of alternative credit models. However, this growth is not without risks. Regulatory scrutiny, concerns over consumer debt, and the sustainability of interest-free models remain important issues for industry stakeholders. Nonetheless, BNPL remains one of the most exciting frontiers in retail fintech, with the potential to fundamentally alter how consumers finance everyday purchases.

Retail Fintech: Integrating Technology and Traditional Commerce

Beyond neobanks and BNPL, retail fintech is an umbrella term that covers a wide range of innovations designed to enhance the shopping and payment experience. From digital wallets to contactless payment solutions, retail fintech is enabling a smoother, more integrated customer journey. The market map underscores how companies in this space are leveraging technologies such as blockchain, artificial intelligence, and big data analytics to deliver more personalized and secure retail experiences.

For traditional retailers, the challenge is clear: adapt to the rapidly changing digital landscape or risk obsolescence. The insights from PitchBook suggest that partnerships between technology providers and established retail brands will become increasingly common as companies seek to combine the reliability of traditional commerce with the agility of fintech innovation. This convergence is likely to lead to the emergence of hybrid models that offer the best of both worlds—robust security and cutting‑edge customer service.

Source: PitchBook


Fintech Magazine Partners with the Swiss Fintech Association: Fostering Industry Collaboration

In an inspiring display of industry solidarity, Fintech Magazine has joined forces with the Swiss Fintech Association. This partnership is emblematic of the collaborative spirit that is beginning to define the fintech sector. By uniting a leading publication with a key industry body, the alliance aims to promote thought leadership, facilitate knowledge exchange, and drive the adoption of innovative practices across Europe and beyond.

The Strategic Value of Collaboration

In today’s interconnected world, no single entity can claim a monopoly on innovation. The partnership between Fintech Magazine and the Swiss Fintech Association is a testament to the belief that collaboration is essential for overcoming industry challenges and seizing new opportunities. Together, they aim to create platforms for discussion, education, and collaboration that will help shape the future of financial technology.

For members of the Swiss Fintech Association, this alliance provides a unique opportunity to gain exposure to the latest trends and insights through a reputable and widely circulated publication. For Fintech Magazine, partnering with an influential industry body lends additional credibility and opens doors to exclusive content and interviews with key industry players. In essence, this collaboration is a win‑win, creating a knowledge network that benefits the entire fintech community.

Driving Innovation and Best Practices

By facilitating regular exchanges between industry experts, academic researchers, and technology providers, the partnership is expected to foster an environment of continuous improvement and innovation. Topics such as regulatory compliance, cybersecurity, and customer experience are likely to be at the forefront of their collaborative efforts. In an industry that is constantly evolving, staying informed and connected is crucial for maintaining a competitive edge.

This initiative is also significant from a regulatory perspective. As fintech companies grapple with increasingly complex legal frameworks, having a dedicated forum for dialogue and best practices can help streamline compliance and encourage a more proactive approach to regulation. Ultimately, the partnership could serve as a model for similar collaborations around the world, setting new benchmarks for how industry associations and media outlets can work together to drive positive change.

Source: Fintech Magazine

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Conclusion

Today’s fintech landscape is a tapestry woven from the threads of innovation, strategic partnerships, and transformative technology. The stories we’ve explored—from Pagaya Technologies’ remarkable revenue surge to the strategic alliances forged by Morningstar, Ericsson, and Fintech Magazine—offer a vivid snapshot of an industry in the midst of profound change.

Pagaya Technologies is a prime example of how data‑driven strategies and agile operations can yield extraordinary financial performance. Their 28% revenue jump is not merely a statistic; it’s a signal to the entire industry that fintech companies can—and must—innovate to thrive. This growth, driven by sophisticated risk‑assessment and customer‑centric models, sets a benchmark for others to follow.

The convergence of cybersecurity and GenAI is another transformative trend. In an era where cyber‑threats are ever‑present, leveraging generative AI to anticipate and neutralize risks is both a defensive necessity and a competitive advantage. Financial institutions that invest in these technologies will not only protect their data but also position themselves as leaders in the next wave of digital transformation.

The strategic collaboration between Morningstar and SSC further highlights the importance of partnerships in today’s fintech ecosystem. By merging robust data analytics with advanced technological solutions, this alliance is poised to deliver new insights that will redefine investment strategies and enhance customer experiences. In a world awash with data, the ability to extract meaningful insights quickly is the key to staying ahead of market trends.

Equally inspiring is the research collaboration between Ericsson and IIT Delhi. This initiative underscores the critical role of academia‑industry partnerships in advancing mobile financial services. As mobile banking becomes an indispensable part of everyday life, innovations in connectivity and security will drive financial inclusion and elevate user experiences globally.

The market map detailing trends in neobanks, BNPL, and retail fintech paints a picture of an industry that is both vibrant and rapidly evolving. Neobanks are rewriting the rules of traditional banking with their digital‑first approach, while BNPL solutions are reshaping consumer finance by offering unprecedented flexibility. Retail fintech, with its emphasis on personalization and integration, is set to revolutionize the shopping experience, bridging the gap between traditional commerce and digital innovation.

Finally, the partnership between Fintech Magazine and the Swiss Fintech Association represents the spirit of collaboration that is increasingly defining the sector. In an environment where the challenges of regulation, cybersecurity, and market competition are more pronounced than ever, forging alliances that promote knowledge exchange and industry best practices is not just beneficial—it’s essential.

In our view, these stories collectively signal a new era for fintech. The industry is moving beyond isolated innovations and embracing an ecosystem approach where collaboration, data, and technology converge to create a more secure, efficient, and inclusive financial landscape. The transformative changes we’re witnessing today are laying the groundwork for tomorrow’s financial services—a future where agility, resilience, and continuous innovation are the norm.

As we reflect on these developments, it becomes clear that the future of fintech is not a distant horizon but a present reality. With every revenue report, every strategic partnership, and every groundbreaking research initiative, the industry takes another step toward a more dynamic and interconnected world of finance. For investors, regulators, and consumers alike, the message is clear: adaptation and collaboration are the keys to success in this ever‑evolving landscape.

Looking ahead, we anticipate further convergence between technology and finance—an ongoing journey marked by innovation, risk, and immense opportunity. In such a dynamic environment, staying informed is paramount. We hope that today’s briefing has not only provided you with critical insights but also sparked ideas about how you might navigate and capitalize on the trends shaping the future of financial technology.

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Thank you for joining us for this deep‑dive into the most important stories of the day. As fintech continues to evolve, so too will our commitment to bringing you the insights and analysis you need to stay ahead in a rapidly changing world. Until tomorrow, keep your finger on the pulse of fintech and embrace the future of finance with confidence and curiosity.

The post Fintech Pulse: Your Daily Industry Brief – February 14, 2025: Pagaya Technologies, Morningstar, Ericsson & More appeared first on News, Events, Advertising Options.

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Binance Survey Reveals Most Crypto Investors Take a Long-Term Approach to Both Money and Love

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New data challenges the stereotype of high-risk crypto traders and explores how they make decisions, navigate trade-offs, and view financial compatibility in relationships

DUBAI, UAE, Feb. 14, 2025 /PRNewswire/ — A new survey from Binance, the global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and users, suggests that most crypto investors take a long-term approach to both investing and romantic relationships. Nearly half of the respondents (49%) consider themselves “Forever HODLers,” meaning they invest in both money and love for the long haul. This and other insights were uncovered through a global survey conducted by Binance on the eve of Valentine’s Day, which polled 2,200 crypto users on how they navigate financial decisions and romantic commitments.

However, many take a different approach, blending long-term thinking in one area with flexibility in the other or staying adaptable in both:

  • 19% embrace the “Trader & Romantic” mindset, taking high risks in crypto but opting for stability in love.
  • 17% follow the “Investor & Free Spirit” approach, playing the long game in finance while keeping relationships flexible.
  • 14% fall into the “Risk Chaser” category, keeping their options open in both investing and love.

“These findings challenge the common perception of crypto investors as impulsive risk-takers. In reality, most apply the same careful, long-term approach to both their portfolios and their personal lives. Just as building a strong financial future requires patience and strategic planning, so too does cultivating lasting relationships,” said Andy Goldin, Head of Data Analytics at Binance. “There’s no single formula for success – some prioritize stability in both areas, while others embrace risk in one and caution in the other. Ultimately, it’s about finding the right strategy that works for them.”

Beyond commitment styles, the survey sheds light on how crypto investors make decisions and balance priorities in both finance and relationships. One in three (34%) apply strategy and logic to both love and money, while the rest are divided between trusting emotions in both or mixing risk-taking in one area with stability in the other.

When it comes to priorities, crypto and relationships both demand trade-offs. While a third (32%) continue investing in crypto without making lifestyle sacrifices, 42% adjust their spending – whether by delaying big purchases like a home or car, cutting back on shopping, or reducing travel expenses – to prioritize their financial goals. Similarly, relationships come with their own compromises. While 29% say they don’t put anything on hold for love, others (58%) prioritize love by dedicating more time to their partners, scaling back social outings, or even adjusting financial habits to accommodate their relationships.

Financial compatibility also plays a crucial role in romance, with 59% of respondents emphasizing that shared financial values are key to building long-term relationships. “As crypto becomes an increasingly integral part of everyday life, more people are eager to learn about digital assets. Last year alone, 44 million users visited Binance Academy to expand their crypto knowledge,” said Goldin. “These new survey findings suggest that as financial literacy in crypto grows, it may also contribute to stronger financial alignment in relationships, helping couples navigate money matters with greater confidence and shared understanding.”

Binance Academy  offers a wide range of free online courses and resources to help anyone, from beginners to experienced investors, expand their crypto knowledge.

About the survey 

The survey was conducted from February 6th to 10th, 2025 on the Binance Survey platform, and was open to both Binance users and non-users. A total of 2,200 participants from around the world took part in the study.

About Binance 

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Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 250 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com

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