Arch Capital Group ready for more catastrophe losses

Arch Capital | July 15, 2020

Arch Capital Group is expecting somewhere between $205 million and $225 million in pre-tax catastrophe losses across its property casualty insurance and reinsurance segments for the second quarter. The approximation is net of reinsurance recoveries and reinstatement premiums, and spans a range of estimates for exposure to COVID-19 global pandemic claims as well as for losses related to civil unrest claims in the US and other catastrophic events in the period.

Spotlight

To succeed in today’s business environment,companies must deliver seamless digital customer experiences and build digital operational excellence.Digital transaction management (DTM) technologies form the foundation of these competencies. In a recent survey.

Spotlight

To succeed in today’s business environment,companies must deliver seamless digital customer experiences and build digital operational excellence.Digital transaction management (DTM) technologies form the foundation of these competencies. In a recent survey.

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FINTECH

EML FINLAB Invests in Hydrogen

EML | November 05, 2020

EML PAYMENTS LIMITED has made an underlying venture through its FINLAB center in imaginative implanted account and worldwide payments stage The Hydrogen Technology Corporation ("Hydrogen"). The association will see the EML and Hydrogen stages flawlessly incorporate to empower budgetary and non-money related associations to offer their clients forefront brilliant applications connected to physical and virtual installment cards. Hydrogen empowers any association to rapidly and effectively offer FinTech items or segments. Its engaging no-code offering permits associations with practically no improvement experience to add hearty FinTech items quickly. Likewise, its low-code API offering empowers more modern associations to construct custom applications on top of its hearty REST-based APIs. This amazing stage gives arrangement, UI, business rationale and information purifying capacities. With one mix into Hydrogen's API and a smoothed out onboarding measure, associations can use a normalized information model that could spare several advancement hours and a huge number of dollars in coordination costs. “We are thrilled to be working with EML and have it as a strategic investor in Hydrogen. Together, we’ll be able to bring innovative card offerings to the masses, making it easy for any organisation to offer card capabilities. It's embedded card services made easy,” stated Mike Kane, Hydrogen’s Co-Founder & CEO. ‘’We love cementing deals and investing in payments trailblazers. Hydrogen, with the intensity of energy it has already infused into the industry, is no different. Our commitment is to assist this fast-growing entity in soaring within FinTech via EML’s capabilities and FINLAB. It's heartening to know Hydrogen feel in safe and trusted hands with the might of EML's global reach,’’ noted Tom Cregan, EML’s Managing Director & Group CEO. About Hydrogen Hydrogen is embedded finance simplified. We allow businesses to configure and embed financial components with a single line of code. No FinTech experience is necessary. Launch new programmes, earn new revenue and join the embedded finance revolution in under 5 minutes. Hydrogen has been honoured as World Changing Technology from Fast Company, FinTech Startup of the Year from KPMG Luxembourg and BBVA Open Talent USA winner. Hydrogen is also a graduate of the Mastercard StartPath, MassChallenge FinTech and Plug and Play FinTech accelerator programmes. About EML At EML, we develop tailored payment solutions for brands and their customers to make lives simpler. Through next-generation technology, our portfolio of payment solutions offers innovative options for disbursement payouts, gifts, incentives and rewards. We're proud to power many of the world’s top brands and process over $18 billion in GDV each year across 28 countries in Australia, EMEA and North America. Our payment solutions in 25 currencies are safe and secure, easy and flexible, providing customers with their money in real-time. We know payments are complex, that’s why we've made the process simple, smart and straightforward, for everyone.

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PAYMENTS

Fintech Stampli Launches New Partner Program for AP Automation

Stampli | August 05, 2021

Stampli, a leader in AI-driven Accounts Payable (AP) automation, is introducing a new partner program for accounting firms, bookkeeping services, resellers, consultants, and ERP providers to expand their offerings with Stampli’s award-winning AP automation and payments software. The program is designed to help partners modernize their mid-market and enterprise clients’ invoice management process by bringing together accounts payable communications, documentation, and payments with Stampli’s powerful AP automation. Stampli is the only Accounts Payable Automation platform that turns each invoice into a communication hub so AP can collaborate more efficiently with the rest of the organization to resolve and answer questions around invoices resulting in 5X faster invoice approvals. In addition, Stampli’s AI spots duplicate invoices, allocates expenses, and automates approval notifications freeing up AP to focus on negotiating better payment terms, analyzing cash flow, or identifying other ways to save money. “More than ever, companies realize the need to transform their financial processes and often turn to their trusted advisors for help. Stampli’s Partner program is designed to arm those advisors with the most powerful AP Automation platform available to offer their clients,” said Jeff Zamczyk, VP of Sales and Customer Success at Stampli. “Partners love our AP Automation solution as it grows with their clients. So, whether they are processing 200 to 100,000 invoices per month, switching ERPs, adding POs, or dealing with more entities, Stampli adapts and flexes wherever their business trajectory takes them.” Partners will earn competitive revenue share and have access to easy deal registration and dedicated account management. In addition to comprehensive resources and partner enablement, Stampli also provides personalized sales support and AP expertise for a seamless onboarding experience for partner clients and customers. The flexible partner program accommodates partners across industries but has seen great success with partners serving Healthcare, Construction, Real Estate, Automotive, and Manufacturing. In addition, Stampli’s partner program is crafted to work with a wide range of partners, including: Value-Added Resellers. Firms providing expertise and support for accounting systems and business processes to help their clients become more efficient. CPA Firms. Full-service firms providing tax, audit, payroll, and consulting to their clients. Bookkeeping Firms. Boutique firms that offer back-office management and bookkeeping services for their mid-market clients. Independent Consultants. Experts providing support and services to mid-market and enterprise clients on business processes, systems, and technology. ERP Vendors. Niche-based, Mass Market, or Add-on type Enterprise Resource Planning software providers interested in a customized partner program. Stampli recently raised $50M Series C and was named a leader in G2 Grid® for AP Automation for the eighth consecutive time. In the last year, Stampli has also been awarded The Best AP Solution from Fintech Breakthrough for 2021; named The Best AP Automation Company in the USA from New World Report, and Eyal Feldman was named to The Software Report’s Top 50 CEOs of 2020. About Stampli Stampli is a complete AP automation platform that brings together accounts payable communications, documentation, and payments in one place, processing over $20 Billion invoices annually. By centering communications on top of the invoice itself, AP departments collaborate and communicate better with approvers, vendors, and anyone involved with purchases, allowing approvals to happen 5x faster. In addition, Stampli’s AI, Billy the Bot, learns an organization’s unique patterns to simplify GL-coding, automate approval notifications, identify duplicate invoices, and reduce time spent on manual data entry. Stampli’s flexible platform fits seamlessly into any existing processes and integrates with financial systems, including NetSuite, Sage Intacct, QuickBooks, Microsoft Dynamics, SAP, and more.

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PAYMENTS

Botkeeper Collaborates with Vic.ai to Advance Accounting Automation

Botkeeper | July 29, 2021

Clients of Botkeeper will soon be able to use a new functionality powered by Vic.ai that is built in the Botkeeper Operating System. This new module will offer accountants and firms a unified, faster, more intelligent, and advanced autonomous Accounts Payable (AP) solution coupled with their general ledger (GL) and bill pay systems, all from within the Botkeeper Operating System. The incorporation of Vic.ai into the Botkeeper Operating System provides accountants with improved autonomous invoice processing and real-time analytics. The combination of Botkeeper and Vic.ai will bring together the most comprehensive source of data in a continually smarter platform, removing onerous and manual duties from an accountant's day-to-day activities. With advanced machine learning, artificial intelligence, and professional accountants, the most comprehensive Client Advisory Services (CAS) management platform will be built, which will be revolutionary for accounting firms across the United States. The new autonomous module powered by Vic.ai will enable invoice processing to take place without any prior data entry or categorization evaluation. This encompasses everything from vendor identification to line item pricing and dimensional categories. Botkeeper and Vic.ai's collaborative approach will assist accounting businesses in becoming more AI-enabled, resulting in time savings, error and duplicate reduction, easy system integrations, and effective approval procedures. Accounting businesses will benefit from new reporting and insights generated by artificial intelligence and statistical analysis of a data collection unlike any other. Using the time saved, a firm's team will be able to evaluate and share data with their clients in order to assist them in making the most educated business decisions. About Botkeeper Botkeeper is a premier automated bookkeeping solution that offers accounting businesses and their clients an effective blend of trained accountants, machine learning, and artificial intelligence. The various packages offer full-suite bookkeeping and pre-accounting solutions, a consolidated platform with tools to enhance company processes, and the best quality support, all tailored to meet the particular demands of our clients at any stage of growth. Accounting businesses that use Botkeeper can expand their book of business, diversify their service offering, enhance capacity, and minimise stress during tax season—all while lowering their overhead costs. The powerful and simple-to-use technology has assisted firms across the United States in realising their full potential, providing greater service to their clients, and doing more of what they enjoy. About Vic.ai Vic.ai is the Accounting Productivity AI (Artificial Intelligence) Platform. Machine learning technology developed by Vic.ai has been trained on over 500 million live accounting documents and transactions. Vic.ai's Autopilot functionality already outperforms human-level accuracy for many activities, allowing accountants, CFOs, controllers, and accounts payable (AP) teams to execute totally autonomous accounting, become more efficient, and eliminate errors on routine accounting operations.

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