Insurance Technology firm Stubben Edge has signalled its intention to expand its tech offering to enable brokers to access cheaper payment processing, better client cash management and full open banking capability, with the acquisition of Akoni Hub the cash management business and launch of Stubben Edge Payments which will be led by newly recruited former Visa Senior Product Manager Viraj Mistry.(pictured)
Viraj comes from a commercial background and has built up a wealth of experience across the payments and loyalty sectors, with success in delivering double digit revenue growth across Visa’s loyalty payment products.
The recent acquisition of Akoni Hub will form key links between the company’s cash management and insurance services, offering brokers the ability to manage cashflow better and develop new products, as well as helping them reach more customers efficiently, therefore accelerating growth.
The establishment of Stubben Edge payments provides further penetration into the sector, offering Stubben Edge’s client base an efficient cost-effective payment journey, alongside providing access to an exclusive card proposition, which will offer a range of special benefits and incentives focused on driving engagement and loyalty. The ambition is to deliver a suite of products offering payment providers the ability to access enhanced analytics across the insurance and payment sector, enabling them to form bespoke, data-driven propositions to offer to their clients.
Viraj Mistry, Head of Payments at Stubben Edge, believes that “the connection between insurance and finance has never been truly maximised and these strategic initiatives will help Stubben Edge form a unique solution, which in the long term will benefit insurance brokers, card providers and importantly, the end customer.”
Currently, the company offers IFAs, brokers and third parties a white-label service which includes a website platform, a customer portal, call centre capability, and a GDPR-compliant database of more than 12m clients which enables advisers to market to relevant customers at a lower cost online. Empowering them to start, run and grow their businesses efficiently and cost-effectively.
The development of these initiatives will ultimately help Stubben Edge to provide its clients ‘business in a box’ technology across the cash, insurance, and investment sectors, giving them a central interface to access a variety of valuable products, including enriched analytics, empowering them to make data-driven decisions to benefit their end customers.