Blender Technologies and Sapiens Partner to Expand Global Reach

Rhea-AI Summary

Blender Technologies (TASE: BLND), a fintech firm specializing in credit and financing solutions, has partnered with Sapiens International (NASDAQ: SPNS), a software provider for the insurance industry. Announced on June 5, 2024, this collaboration aims to broaden Blender's global presence. Sapiens will use its extensive client network to market Blender's cloud-based credit platform, which leverages big data, machine learning, and behavioral economics to enhance underwriting decisions and digitize lending processes. This partnership is expected to drive substantial growth opportunities for both companies.

Positive

• Blender Technologies will gain access to Sapiens' extensive network of global clients.
• Enhanced marketing and selling efforts for Blender's credit platform.
• Blender's technology can revolutionize credit risk assessment and financing solutions.
• Sapiens expands its product portfolio into the credit and financing sector.
• Potential for significant growth opportunities for both companies.

Negative

• No immediate financial gains or specific revenue projections mentioned for either company.
• Dependence on successful integration and collaboration between both firms.
• Potential risks if Sapiens' client network does not adopt Blender's platform as expected.

News Market Reaction – SPNS

+1.61%

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+1.61% News Effect

On the day this news was published, SPNS gained 1.61%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TEL AVIV, Israel, June 5, 2024 /PRNewswire/ -- Blender Technologies (TASE: BLND), a leading fintech company providing innovative credit and financing solutions, today announced a strategic partnership with Sapiens International Corporation NV (NASDAQ: SPNS), a leading software provider for the property & casualty insurance, life & health insurance, and reinsurance industries. The partnership aims to expand Blender's global reach and bring its cutting-edge technology to financial institutions worldwide.

Under the terms of the agreement, Sapiens will leverage its extensive network of clients and distribution channels to support the selling and marketing efforts of Blender's cloud-based credit platform to financial institutions across the globe. The platform, powered by big data, machine learning, and behavioral economics, enables financial institutions to make rapid and accurate underwriting decisions, streamline operational processes, and digitize the entire lending process from marketing to collection.

"This partnership marks a significant milestone for Blender as we continue to expand our global footprint and bring our innovative technology to a wider audience," said Gal Aviv, CEO and Co-Founder of Blender Technologies. "Sapiens' expertise and reach in the insurance industry will be invaluable as we introduce our credit platform to new markets and customers."

"We are excited to partner with Blender Technologies to bring their innovative credit platform to our global network of clients," said Alex Zukerman, Chief Strategy Officer of Sapiens. "Blender's technology has the potential to revolutionize the way financial institutions assess credit risk and provide financing solutions to their customers."

The partnership is expected to generate significant growth opportunities for both companies. Blender will benefit from Sapiens' extensive network and expertise, while Sapiens will gain access to Blender's cutting-edge technology and expand its product portfolio into the credit and financing sector.

About Blender Technologies

Blender Technologies (TASE: BLND) is a leading fintech company providing innovative credit and financing solutions to tens of thousands of customers based on their preferences and needs. The company has developed a unique and efficient technology platform for providing credit, with a focus on credit as a means of spreading payments. The company operates using unique technological methods and tools, utilizing methodologies, products, and ideas from the fields of big data, data mining, machine learning, behavioral psychology, and more. The company was founded in 2014 by CEO Dr. Gal Aviv, Deputy CEO and Head of Technology Boaz Aviv, and Deputy CEO and Head of Products Barak Gore.

About Sapiens International Corporation NV

Sapiens International Corporation NV (NASDAQ: SPNS) is a leading software provider for the property & casualty insurance, life & health insurance, and reinsurance industries. Sapiens solutions enable insurers to create a modern, digital insurance platform that delivers agility, innovation, and customer centricity. Sapiens has over 35 years of experience delivering software solutions to insurers worldwide and serves over 600 customers in 30 countries.

For more information:
https://blender.global/
Reut Gilady, Head of Marketing and Communications; reut.g@blender.co.il

View original content:https://www.prnewswire.com/news-releases/blender-technologies-and-sapiens-partner-to-expand-global-reach-302164837.html

SOURCE Blender Financial Technologies

FAQ

What is the significance of Blender Technologies partnering with Sapiens?

The partnership aims to expand Blender's global reach by leveraging Sapiens' client network to market Blender's innovative credit platform.

What technology does Blender Technologies' platform utilize?

Blender's cloud-based credit platform uses big data, machine learning, and behavioral economics to improve underwriting decisions and streamline lending processes.

What are the expected benefits of the Blender-Sapiens partnership?

The partnership is expected to generate significant growth opportunities by combining Blender's innovative technology with Sapiens' extensive client network.

How will Sapiens benefit from partnering with Blender Technologies?

Sapiens will gain access to Blender's cutting-edge technology, expanding its product portfolio into the credit and financing sector.

What is the stock symbol for Sapiens International ?

The stock symbol for Sapiens International is NASDAQ: SPNS.