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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands
Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.
The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability.
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn
Investor and Media Contact :
Yaffa Cohen-Ifrah
Sapiens Chief Marketing Officer and Head of Investor Relations
Email: [email protected]
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic, and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
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Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
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French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
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FinTech IPO Index Edges Up 1.7% as Katapult Earnings Lead Platforms Higher
This week was dominated by earnings reports from fintech firms specializing in connecting supply and demand, such as those in lending and modernizing payments between merchants and consumers. Despite ongoing stock volatility, the FinTech IPO Index climbed 1.7%.
FinTech IPO Index Highlights
Katapult saw its stock soar by 18.5% this week. The company reported that Katapult Pay gross originations grew over 150% year-over-year to $55.6 million, with 55.9% of these originations in Q1 2024 coming from repeat customers. Total revenue increased by 18.1% to $65.1 million.
Blend Labs experienced a share increase of just over 15%. Their Q1 2024 earnings revealed total company revenue of $34.9 million, comprising $23.8 million from the Blend Platform segment and $11.1 million from the Title segment. Within the Blend Platform, mortgage suite revenue declined by 15% year-over-year to $15.1 million, while consumer banking suite revenue rose by 29% to $6.7 million. Professional services revenue increased by 21% to $2.1 million.
Paysafe saw a 15.2% rise in its stock. The company’s earnings report indicated an 11% increase in revenue from its Merchant Solutions segment, driven by strong eCommerce performance and SMB client demand. Digital wallet-related revenue increased by 5%, mainly due to growth in the gambling sector. Overall, consolidated revenue rose by 7% to $418 million on a constant currency basis, with total payment volume up 7% to $36.1 billion, and transactions per active user increasing by 14%.
Open Lending shares climbed 7.8% following their partnership with Core Specialty Insurance Holdings, which will now provide credit default insurance policies for Open Lending’s Lenders Protection platform.
Robinhood saw a modest increase of 3.4% over the past week. The company exceeded Q1 profit expectations, driven by strong cryptocurrency trading volumes and a 22% rise in net interest revenue to $254 million. Retail traders, optimistic about economic prospects, have reentered the market, resulting in a 59% increase in transaction-based revenue.
Oportun shares rose by 2.7%. The company’s official Q1 report on May 9 confirmed preliminary results, showing aggregate originations of $338 million, down from $408 million last year. The portfolio yield was 32.5%, an increase of 113 basis points from the previous year, and the annualized net charge-off rate improved to 12% from 12.1% a year ago and 12.3% in the previous quarter.
Declines in the Index
dLocal experienced a significant decline, with shares dropping by 27%. Despite a 49% year-over-year increase in total payment volume to $5.3 billion and a 34% rise in revenue to $184.4 million, gross profit margins were pressured by renegotiated terms with a top merchant and higher payout volumes. Consequently, operating income fell by 32% year-over-year.
Nu Holdings reported the addition of 5.5 million customers in Q1, bringing its global total to 99.3 million by the end of March. The company, now the fourth-largest financial institution in Latin America by customer count, saw monthly average revenue per active customer grow by 30% year-over-year. However, its shares slipped by 0.6%. The NPL ratio for its Brazilian consumer credit portfolio was 5%, consistent with expectations and historical patterns.
Expensify added unlimited virtual cards to its spend management platform. The new Expensify Visa Commercial Card allows businesses to manage expenses across employees and merchants, setting fixed or monthly spending limits for each card. Despite this innovation, the company’s shares fell by 3.4%.
In summary, the fintech sector showcased a range of performances, with several companies delivering strong earnings that boosted the FinTech IPO Index, while others faced challenges that impacted their stock prices.
Source: pymnts.com
The post FinTech IPO Index Edges Up 1.7% as Katapult Earnings Lead Platforms Higher appeared first on HIPTHER Alerts.
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