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Search resuls for: "Grapinet"


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☆ Insurance companies are betting on AI and mass data analytics in a battle against fraud that costs billions
  + stars: | 2023-10-24 | by ( Amanda Paule | ) www.businessinsider.com   time to read: +9 min
AdvertisementAdvertisementLosses from insurance fraud are nearly double what they were 30 years ago. Scott Clayton, the head of claims fraud at Zurich Insurance Group. AdvertisementAdvertisementOn the other hand, around 40% of fraud is premeditated, and these cases can cost insurance companies upwards of €3,000, or around $3,170, according to the study. But the Insurance Fraud Detection Market is expected to grow from $5 billion in 2023 to $17 billion in 2028. AdvertisementAdvertisementIn the past 10 years, various third-party developers like Friss, IBM, and Shift Technology have started tailoring machine-learning systems to insurance companies.
Persons: —, they're, Alan Turing, It's, Scott Clayton, shallowfakes —, Clayton, I'm, we'll, Arnaud Grapinet, he's, Grapinet, it's, Rob Galbraith, Jennifer Lindberg, Rob Morton, Galbraith Organizations: Service, Coalition Against Insurance, Zurich Insurance, AXA Research Fund, Technology, IBM, Employees Locations: United States, Spain
☆ Worldline seeks to crack tough French payments nut
  + stars: | 2023-04-19 | by ( ) www.reuters.com   time to read: +2 min
MILAN, April 19 (Reuters Breakingviews) - Worldline’s (WLN.PA) boss Gilles Grapinet has spotted an opportunity to access a hard-to-crack payments market. A partnership with Crédit Agricole will allow Worldline to enter Europe’s top market for merchant payments, which several domestic banks still handle directly. Analysts reckon the French bank will confer its entire merchant acquiring business to the new company. For Worldline, the deal may be a stepping-stone to make similar accords with other French lenders or even purchase the whole of Crédit Agricole’s payments business over time. But this deal shows that payments companies still have some scope for dealmaking to improve their fortunes.
☆ Worldline seeks more tech M&A as it beats Q4 sales estimates
  + stars: | 2023-02-21 | by ( ) www.reuters.com   time to read: +2 min
Feb 21 (Reuters) - French payment services company Worldline (WLN.PA) will keep looking for technology acquisition opportunities in Europe, it said on Tuesday after it beat fourth-quarter sales expectations. The group, which processes digital payments for clients from merchants to government agencies, produced organic sales growth of 10.7% in 2022 and forecast 2023 organic sales growth of between 8% and 10% for 2023. JPMorgan analysts said: "Overall we see the results as good, the guidance at best in-line but not better than market expectations." Its fourth-quarter organic sales growth of 8.3% beat an analysts' consensus estimate of 7.7% provided by the company, which was driven by market share gains and volume growth in its Merchant Services business. Worldline reaffirmed its 2024 ambitions, including the goal of becoming leading consolidator of the European payment industry.
☆ France's Worldline posts Q3 revenue beat, confirms guidance
  + stars: | 2022-10-25 | by ( Elena Vardon | ) www.reuters.com   time to read: +2 min
Oct 25 (Reuters) - French payment company Worldline's (WLN.PA) quarterly revenue slightly beat expectations on Tuesday, driven by volume growth and market share gains in its merchant services business. "Thanks to this strong execution and a still solid level of transaction volumes, we confirm our 2022 annual guidance," Chief Executive Officer Gilles Grapinet said in a statement. The French group also announced on Tuesday it bought 55% of Polish start-up SoftPos.eu, which turns Android devices into secure payment terminals. Grapinet said the company will continue to invest in innovation as it considers diversifying its acquisition targets to address new market segments. ($1 = 1.0121 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Elena Vardon and Juliette Portala; Editing by Jacqueline Wong and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
☆ Nexi can play catch-up with rival Worldline
  + stars: | 2022-09-27 | by ( ) www.reuters.com   time to read: +2 min
The logo of Italian payments group Nexi is pictured inside their headquarters in Milan, Italy, March 28, 2019. REUTERS/Alessandro GarofaloMILAN, Sept 27 (Reuters Breakingviews) - It’s time for Nexi (NEXII.MI) to close a valuation gap with rival Worldline (WLN.PA). The 11.5 billion euro Italian payments group pledged on Tuesday to boost revenue by 9% per year by 2025 and its EBITDA by 14%. Worldline’s Gilles Grapinet, who competes with Nexi to snap up European payments assets, had earmarked just 0.8 billion euros of free cash flow in its four-year plan. Despite similar growth targets, Nexi is valued less richly than Worldline.
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