Persefoni, a prominent Climate Management & Accounting Platform (CMAP) for enterprises and financial institutions, and First Street, a leader in physical climate risk data, have announced a groundbreaking partnership. This collaboration will integrate First Street’s advanced physical risk management capabilities into a novel offering on the Persefoni platform, enabling enterprises to seamlessly access location-based climate risk data for their assets. The partnership arises from the increasing regulatory demands for enterprises to report physical climate risk information, driven by regulat ..read more

The trade association for wealth management, investment services, and financial advice, PIMFA, has urged the Financial Conduct Authority (FCA) to postpone the introduction of Sustainability Disclosure Requirements (SDR) for portfolio management by a year.  PIMFA supports the overarching goals of the FCA’s proposals but raises concerns that they do not fully consider the specific needs of the portfolio management market or retail investors. As per the association’s feedback during the regulatory consultation, the proposed timeline for implementing the SDR rules seems overly ambitious, espe ..read more

Sidekick, the wealth management platform known for providing services traditionally reserved for the ultra-wealthy, has launched a new savings account designed to significantly enhance how individuals save. The introduction of this new savings product is driven by a commitment to bridge the wealth gap exacerbated by historically low interest rates provided by conventional banks. This account not only offers an attractive interest rate but also aligns with the growing demand for flexible, high-return savings options among UK savers. Sidekick operates as a pivotal player in the WealthTech sector ..read more

SymphonyAI, a pioneer in predictive and generative enterprise AI SaaS, recently unveiled the IRIS Workspace, a no-code application designed for industrial knowledge workers. This innovative platform facilitates a live collaboration environment, allowing teams to integrate various data forms—including time-series, P&IDs, documents, drawings, and images—into a single workspace for efficient and real-time problem solving. By leveraging IRIS Foundry’s AI-driven, composable industrial dataops platform, IRIS Workspace offers a seamless and unified data experience. The platform not only enables t ..read more

Sonnet Insurance Company has declared its intention to exit the auto insurance sector in Alberta after a detailed analysis of its operations within the province. The company has officially communicated its intention to the Alberta Superintendent of Insurance, setting December 13, 2024, as the planned withdrawal date. The decision comes amid limited prospects for profitable growth in Alberta’s challenging auto insurance environment. Despite the upcoming changes, Sonnet’s current auto insurance customers in Alberta will see no immediate effects. The withdrawal means that, post-December 2024, Son ..read more

Guardian Life Insurance Company of America, a prominent player in the insurance sector, and Pelago, a leading digital clinic partner to U.S. businesses and health plans, have recently announced a groundbreaking partnership. This collaboration is primarily aimed at supporting a tobacco-free lifestyle among Guardian’s members through innovative, digital healthcare solutions. The partnership is designed to assist Guardian members who are part of workplace-sponsored dental insurance programs. With Pelago’s expertise, these members will benefit from a comprehensive tobacco cessation program. This i ..read more

Amplify Life Insurance, a budding InsurTech firm, recently announced a successful closure of its Series B funding round, amassing a significant $20m. This financial injection was co-led by Crosslink Capital and Anthemis, with additional contributions from Munich Re Ventures, Moneta Ventures, Evolution Ventures, and Greycroft, according to a report from Coverager. Established in 2019 and based in San Francisco, Amplify Life Insurance is a comprehensive life insurance platform that provides term, permanent and cash value life insurance. One of its products is the variable universal life policy ..read more

Aim Security, a cyber firm specialising in the protection of GenAI within enterprises, has successfully raised $18m in a Series A. The round was led by Canaan Partners, with additional contributions from seed investor YL Ventures. The company, founded by cybersecurity veterans and former members of the IDF’s elite intelligence Unit 8200, Matan Getz and Adir Gruss, has rapidly positioned itself as a leader in the niche of GenAI security. With this latest funding, Aim Security’s total capital raised now stands at $28m. Aim Security is dedicated to ensuring the safe adoption and operation of AI a ..read more

ING has partnered with carbon management experts Cogo to introduce the Footprint Insight feature in its mobile banking app. This innovative tool allows ING’s private customers to view the CO2 emissions associated with their transactions, encouraging more environmentally conscious spending. The initiative stems from ING’s commitment to sustainability and its recognition of the significant role financial institutions can play in combating climate change. By integrating this functionality, ING aims to empower customers with knowledge about their environmental impact and provide practical tips to ..read more

Prosper, a WealthTech startup, has successfully reached its £800,000 funding goal on Crowdcube, even before opening up to public investment. According to Finextra Research, founded by alumni from Tandem and Nutmeg, along with Nutmeg’s COO Phil Bungey, Prosper is quickly gaining traction within the WealthTech community. The company has garnered a substantial £3.2m in pre-seed investments from a notable group of FinTech founders. These investors include Tom Blomfield of Monzo and Matt Cooper from Capital One. This funding round adds to a previous £1m raised through Crowdcube in December of the p ..read more