Fintech, underwriters collaborate to tackle claims payment challenge
Insurance Meets Tech (IMT), a West African platform for bridging the insurance and technology gaps, has commended stakeholders in the insurance industry for considering collaboration with financial technology firms to accelerate claims payment.
The group, in a letter to the Nigerian Insurance Association (NIA), expressed interest in collaborating with the association and other transformative initiatives, reaffirming its commitment to catalysing dialogue, innovation and policy-driven partnerships aimed at repositioning the West African insurance industry through technology.
The group also described the move as a bold step toward transforming public perception and increasing insurance penetration. The recommendation was a fallout of the disclosure made by the NIA Chairman, Kunle Ahmed, that plans have been concluded to invite fintech companies to pitch innovative solutions to address challenges in the insurance claims process.
Remita Sets Sights Beyond Nigeria in Pan-African Fintech Growth Push
Remita, Nigeria’s leading digital payment platform developed by SystemSpecs, is ready to take on a larger stage. After establishing itself as a key player in Nigeria’s public and private payment ecosystems, the company is now actively exploring expansion beyond Nigeria’s borders, positioning itself as a contender in Africa’s fast-growing fintech space.
Remita is a versatile electronic payment platform that enables individuals, businesses, and government agencies to make and receive payments seamlessly. It supports a wide array of services, including bill payments, payroll management, and revenue collection, all accessible through multiple channels such as mobile apps, web portals, point-of-sale terminals, and bank branches .
Nigeria Remains Top Recipient of Shell Payments to Governments
Shell PLC remitted a total of $28.1 billion to governments in 24 countries where the British energy giant has upstream operations, with Nigeria maintaining its status as top recipient at $5.34 billion.
Shell counts as payments to government those arising from exploration, prospection, discovery, development and extraction of oil, natural gas and minerals or other materials. The company excludes payments related to refining, gas liquefaction or gas-to-liquids activities, as well as payments made by entities where Shell has joint control. Shell also said that in line with a United Kingdom law requiring UK companies to report payments to governments, Shell only reports payments equal to or above the GBP 86,000 ($114,500) or equivalent materiality threshold.
Why Africa’s Fintech Ecosystems Must Unite to Shape the Future of Crypto, AI and Passporting Across the Continent
The African fintech landscape is booming, with digital finance, cryptocurrencies, AI-powered banking, and cross-border payments offering new opportunities for growth and innovation. Yet, the challenges we face are not small—especially when it comes to regulation, taxation, and market access. Many African nations are grappling with the question of how to regulate digital assets, ensure consumer protection, and foster innovation. As the continent’s fintech players push boundaries, the time has come for the entire ecosystem to unite and take charge of its own destiny.
As key players in the industry, we must recognize that some of the most important regulatory initiatives—such as crypto asset taxation, cross-border licensing (passporting), and the integration of AI in banking—cannot be led by isolated players. They must be tackled collectively, and this can only be done through collaboration and effective lobbying for industry-friendly frameworks that benefit everyone, especially consumers and businesses.
CrediLinq to Expand into US, UK, Australia After US$8.5M Series A Funding Round
AI-powered embedded finance startup CrediLinq has raised US$8.5 million in a Series A funding round.
The fundraise was backed by Citi North America, Rustem Family Office, OM/VC and MS&AD Ventures.
Existing investors 1982 Ventures, 500 Global, Epic Angels and Big Sky Capital also participated in the round.
Based in Singapore, CrediLinq offers embedded financing solutions for B2B platforms by integrating its credit infrastructure through APIs.
Read more: https://fintechnews.sg/111348/ai/credilinq-funding/
Ripple Hails Dubai’s Crypto Vision at Fintech Summit
Ripple reaffirmed its commitment to the global crypto ecosystem during the Dubai Fintech Summit, where Ripple President Monica Long engaged with Sheikh Ahmed bin Saeed Al Maktoum. Praising Dubai’s role in the digital economy, Long stated: “We continue to be impressed with the leadership demonstrated by Dubai as it establishes itself as one of the world’s leading hubs for digital assets.”
The meeting emphasized Ripple’s recognition of Dubai’s rapidly growing status as a global center for cryptocurrency and blockchain innovation. Long’s visit and comments reflect the alignment between Ripple’s mission and Dubai’s regulatory foresight. Sheikh Ahmed, a central figure in the emirate’s economic development, plays a vital role in advancing infrastructure for fintech and digital finance.
Read more: https://news.bitcoin.com/ripple-hails-dubais-crypto-vision-at-fintech-summit/
