Transform financial systems with ready-to-implement tech.

At SOSA, we’ve been working with banks and insurance companies for nearly a decade. We are constantly monitoring the financial sector to make sure our clients identify and implement the technologies that can solve their most pressing challenges.

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Leading organizations innovate with us.

Innovation in the financial sector

Tech is leading the change in the way payments, savings, borrowing, and investment services are being made and deployed. Meanwhile, digital currencies have the potential to revolutionize the heart of finance: money itself. Innovation fundamentally alters how businesses respond to challenges in rapidly changing economic conditions, solve complex business problems, and enable true digital corporate transformation, allowing innovation leaders to gain and maintain a competitive advantage.

What we do

Bridging the gap

We work as an extention of the corporate team, connecting the most forward-thinking, banks and insurance companies, to the most innovative technologies out there.

Scouting & validating

From cost-cutting solutions to generating new revenue streams and building new products, we scout and validate advanced technologies for the financial sector.

Clearing the noise

We tune out the noise and find unique technologies that immediately solve our client’s most pressing business problems.

Industry trends to keep your eyes out for:

01.

Embedded insurance.

This is your chance to offer affordable, highly personalized insurance at scale, and reach new customers while reducing your distribution costs and risks.

02.

Value-added services in finance (VAS).

Increase customer loyalty and stay ahead of the competition with value added services that offer a wide range of customization and convenience.

03.

Decentralized finance (DeFi).

One to watch: DeFi is a new vision of banking and financial services based on peer-to-peer payments using smart contracts via blockchain technology, offering financial tools without intermediaries.

04.

Self-service technologies (SSTs).

Lower customer acquisition costs, improve customer retention and speed up financial operations with SSTs.

05.

Metaverse.

Connect with your customers in the metaverse through existing products and the adoption of new ones. The value generated in the metaverse through its applications can be cashed in the real-world with digital money thereby blurring the boundaries between physical and virtual.

Take your business to the next level with innovative technologies and strategies, giving you a leg up over the competition.

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See what the right technology can do for you.

Best-fit tech solutions can help you solve acute problems, reduce costs, streamline operations, and build new revenue streams.

Financial services

Algorithmic underwriting in insurance reduces loss ratio by more than 5%, providing more personalized products.

01.

Algorithmic underwriting allows insurers to automate risk-taking.

02.

Insurers can customize bespoke rules and risk appetite matching distinct criteria.

03.

Eliminating scanning preliminary policy documents.

See how

01.

Algorithmic underwriting allows insurers to automate risk-taking.

02.

Insurers can customize bespoke rules and risk appetite matching distinct criteria.

03.

Eliminating scanning preliminary policy documents.

Financial services

DeFi, like smart contracts, can save operating costs and lower operating ratios by 5-13 points for P&C insurers.

01.

Blockchain-stored smart contracts prompted by predetermined conditions.

02.

Automatic contract implementation without interference.

03.

Provide automated insurance claim processes.

See how

01.

Blockchain-stored smart contracts prompted by predetermined conditions.

02.

Automatic contract implementation without interference.

03.

Provide automated insurance claim processes.

Financial services

Conversational AI in banking can reduce customer wait time and resolve 80% of queries in the first contact.

01.

Deploy conversational banking chatbots to resolve simple banking queries.

02.

Automated support saves employees time to better face complicated issues.

03.

Conversational banking increases customers' satisfaction.

See how

01.

Deploy conversational banking chatbots to resolve simple banking queries.

02.

Automated support saves employees time to better face complicated issues.

03.

Conversational banking increases customers' satisfaction.

Financial services

Drive fraud rates close to zero and reduce manual review time by 90% with AI-powered fraud detection.

01.

AI’s fraud detection superiority over human analysis.

02.

Companies make well-informed decisions through fraud pattern machine learning.

03.

Block suspicious activity and manage false positives.

See how

01.

AI’s fraud detection superiority over human analysis.

02.

Companies make well-informed decisions through fraud pattern machine learning.

03.

Block suspicious activity and manage false positives.

Financial services

By using AI-driven EDR, cyber attack detection and response time can be reduced from days to seconds.

01.

Continuous endpoint monitoring and analytics with EDR technology.

02.

Automatic detection and response to cyber threats.

03.

Immediate security evaluation to review attack vulnerabilities and respond.

See how

01.

Continuous endpoint monitoring and analytics with EDR technology.

02.

Automatic detection and response to cyber threats.

03.

Immediate security evaluation to review attack vulnerabilities and respond.

How it works

We’re methodological about the way we do open innovation.
Here’s what to expect from an innovation project:

Use case
definition

Startup
scouting

Startup
validation

Startup
shortlist

Pitch customization

Business
meetings

Pilot
planning

Deal

Year after year, our clients keep coming back.

Phil Hsia

President, Global Travel Insurance

“I have been through many innovation programs in my career including with a leading design agency, a strategy consulting firm, an executive education programs at leading universities, and others. I found the SOSA to be the best."

Dr. Luca Marighetti

Former Group Head Tech Transformation

“SOSA truly understands our innovation requirements and knows how to deliver solutions, no matter how complex the challenge or how quickly we need it. We have someone we can speak with at SOSA at all times.”

Daljitt Barn

Global Head of Cyber Risk & Head of Innovtion Lab, London

"Partnering with SOSA helped us accelerate our open innovation activities in Israel in no time, knowing that SOSA analysts cover the Israeli tech ecosystem and have the knowledge to provide us with a highly curated deal flow of advanced technologies."

Sasson Darwish

Former Managing Director, Global Investment Banking

“We have been extremely impressed by the companies we've met through SOSA, and many of them have been considered for a POC stage to become part of the RBC vendor universe."

Niv Raz

Chief Technology Officer

“SOSA’s scouting efforts pay off for us, with an unbelievable conversion rate of roughly 1 to 5, which means we start to work with at least 1 new startup at the end of each demo day at SOSA – an unheard-of conversion rate.”

Joel Agard

Head of Innovation

“We at Zurich Insurance Group have been working with SOSA since 2016. Through working together, we have been able to leverage SOSA’s extensive startup network and Insurtech expertise to help identify Insurtech solutions and startups as well as form collaborations with some of those startups.”

Start your innovative journey now.

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