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Labuan IBFC Inc. and ASAS collaborate on Islamic finance training

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This initiative highlights Labuan IBFC’s role in advancing Islamic finance, digital asset innovation and cross-border wealth solutions

KUALA LUMPUR, Malaysia, May 21, 2026 /PRNewswire/ — Labuan IBFC Incorporated Sdn Bhd (Labuan IBFC Inc.), the official marketing agency for Labuan International Business and Financial Centre (Labuan IBFC), together with the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS), recently hosted a knowledge-sharing session highlighting opportunities in Islamic finance, encompassing Shariah-compliant fintech, captive and cross-border wealth management solutions within Labuan IBFC.

The hybrid event gathered Islamic finance professionals and Shariah advisers from Malaysia and abroad to explore Labuan IBFC’s proposition as global business hub offering Islamic finance solutions. Participants gained key insights into the digital acceleration of Islamic finance and its innovative financial structures.

In his opening remarks, Tn. Haji Makhtar Abdullah, CEO of ASAS, commented, “The future of Islamic finance will depend not only on products and regulations, but also on the quality, integrity, and commitment of the talents who guide the industry forward. Therefore, I hope today’s programme will serve as a catalyst that inspires all of us, as ASAS members, to continue contributing our Shariah knowledge and expertise towards strengthening the Islamic finance ecosystem.”

Delivering the keynote address, Mr. Ben Quah, CEO of Labuan IBFC Inc., underscored Labuan IBFC’s position as Asia’s premier international financial hub. “Labuan IBFC’s robust Islamic finance framework has successfully positioned the jurisdiction as a leading global hub in this sector. Consequently, we are confident that this collaboration with ASAS will further accelerate and advance the Islamic finance agenda,” he said.

The event proper commenced with a presentation titled Introduction to Labuan IBFC – Asia’s Premier International Financial Hub, which provided a comprehensive overview of the jurisdiction and detailed how businesses can leverage Labuan IBFC’s strategic advantages for cross-border expansion.

The main session focused on the Islamic Digital Asset Centre (IDAC). The presentation explored how Labuan IBFC’s IDAC initiative drives Islamic digital finance beyond Labuan IBFC, highlighting emerging opportunities in digital banking, fintech innovation and broader digital financial services.

Additionally, the session underscored the growing relevance of captive takaful structures as a strategic tool for risk management and cost optimisation, while showcasing Islamic wealth management solutions for asset protection, succession planning and cross-border wealth structuring.

This training session builds upon the strategic partnership established under the Memorandum of Understanding (MoU) signed between Labuan IBFC Inc. and ASAS. For more information on Labuan IBFC and its Islamic finance solutions, visit www.labuanibfc.com

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SOURCE Labuan IBFC

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Duck Creek CEO Hardeep Gulati Brings the Trusted AI Playbook to Insurtech Insights USA

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Duck Creek and Coaction Global reveal how insurers can deploy agentic AI across underwriting and claims without sacrificing compliance or control

BOSTON, June 3, 2026 /CNW/ — Duck Creek, the intelligent core of insurance, today announced that Chief Executive Officer Hardeep Gulati will present at Insurtech Insights USA on Thursday, June 4 at 1:45 p.m. ET alongside Ramana Narayanam, Head of IT at Coaction Global, for a featured mainstage session titled, “No Trust, No Scale: The Executive Playbook for Trusted AI Decisioning in P&C Insurance.” Duck Creek will also meet with insurers and demo its insurance native Agentic AI Platform and new AI-powered applications including Agentic Underwriting Workbench and Agentic First Notice of Loss (FNOL) at Booth 505.

As insurers move from AI experimentation toward enterprise-wide adoption, the industry faces a critical inflection point. While generative and agentic AI technologies promise major improvements in underwriting, claims, and operational efficiency, insurers must also address growing concerns around explainability, compliance, consistency, and customer trust.

During the session, Gulati and Narayanam will discuss how insurers can embed trusted AI into core operations without sacrificing governance or regulatory control. The discussion will explore how orchestration, real-time data connectivity, and insurance-specific AI models can help carriers move beyond disconnected copilots toward scalable, auditable AI decisioning.

“Every insurer wants the upside of AI, including faster underwriting, smarter claims and better operations. The difference is whether they can deploy AI with the governance their regulators, customers and boards demand,” said Hardeep Gulati, Chief Executive Officer at Duck Creek. “At Insurtech Insights, we look forward to discussing and demonstrating how carriers can scale AI confidently with transparency, governance, and real-time orchestration into every workflow.”

Duck Creek’s Agentic AI Platform combines insurance domain intelligence, orchestration, and AI assurance capabilities to enable insurers to deploy AI agents across underwriting, claims, policy administration, billing, and payments workflows. The platform is designed to provide explainable, auditable, and compliant decisioning while allowing insurers to maintain human oversight and operational control.

“Modern insurers need AI solutions that are not only powerful, but trusted and grounded in real operational workflows,” said Ramana Narayanam, Head of IT at Coaction Global. “Our work with Duck Creek reflects a shared focus on building a stronger data foundation and enabling more intelligent, connected decision-making that supports both business agility and governance.”

For more information about Duck Creek’s presence at Insurtech Insights USA, visit www.duckcreek.com.

About Duck Creek

Duck Creek is the intelligent core that leading insurers choose to build on. Purpose-built for property and casualty (P&C) and general insurance, Duck Creek unifies the full insurance lifecycle on a single platform with one data foundation. As an agentic platform, it connects intelligence across underwriting, policy, billing, claims, and payments workflows where decisions are made and compliance is non-negotiable. Duck Creek enables carriers to launch products faster, adapt quickly to change, and grow with precision and confidence. Solutions are available individually or as a full suite via Duck Creek OnDemand. Visit www.duckcreek.com and follow Duck Creek on LinkedIn and X.

Media Contacts:
Marianne Dempsey / Tara Stred
duckcreek@threeringsinc.com

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SOURCE Duck Creek

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Biz2X Announces Off-Campus Recruitment Drive for AI, Engineering and Data Science Roles

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NEW DELHI, June 3, 2026 /PRNewswire/ — Biz2X, the leading digital lending SaaS platform and subsidiary of Biz2Credit, has announced that it will open applications for engineering and data science roles through an off-campus recruitment drive starting in the second week of June.

The drive will focus on graduates from IITs, NITs, IIITs and other Tier-1 campuses, with opportunities available at the company’s Noida and Pune locations. Candidates with BE/B.Tech backgrounds in information technology, computer science, electronics and communication engineering, artificial intelligence and machine learning, and mathematics and computing will be eligible to apply.

The company expects the drive to draw more than 10,000 applications, particularly from candidates interested in working on AI-led products and technology systems used by banks and financial institutions.

The selection process will comprise an aptitude test and an AI-skills assessment, followed by personal interviews. More than 250 candidates are expected to move to the interview stage, with onboarding expected to begin in the second week of July.

The hiring initiative comes as banks and financial institutions increasingly look for technology systems that can make lending workflows faster, more connected and easier to manage at scale. Biz2X’s AI-powered lending stack supports financial institutions across loan origination, loan management, collections and risk monitoring.

The company is also deepening the use of AI across lending workflows, including borrower interactions, document processing, credit assessment and operational automation.

“Digital lending is moving into a phase where engineering depth and practical AI capability will matter as much as product ambition. We are looking for people who can work on real lending problems, understand the discipline required in financial services and build AI-led technology that improves both speed and control. As AI becomes more deeply embedded across underwriting, servicing, risk monitoring and customer interactions, we need teams that can combine strong engineering fundamentals with an understanding of how intelligent systems should operate in a regulated environment,” said Mr. Rohit Arora, CEO and Co-Founder, Biz2X and Biz2Credit.

Biz2X currently has approximately 800 employees in India and 200 in the United States. During FY2026-27, the company expects its overall headcount to grow by about 25%, translating into roughly 250 to 300 additions across functions.

Biz2X has also earned the Great Place To Work Certification for the sixth consecutive year, reflecting its focus on employee development, continuous learning, collaboration and an inclusive work environment. The company’s people initiatives include learning and upskilling programmes designed to help employees build capabilities in areas such as AI, data analytics and fintech innovation.

Biz2X is growing at a rapid pace, with 40-50% YoY business growth and the hiring initiative will support product development, delivery and regional expansion across India and the Middle East as the company strengthens its focus on AI-led lending infrastructure.

About Biz2X

Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customized online lending experience for their small and midsize business customers. With a strong presence in the United States, MENA, and India, Biz2X is transforming the lending landscape with scalable, automated, and intelligent lending technology. For more details: www.biz2x.com

About Biz2Credit

Biz2Credit is a leading online platform helping small businesses access financing quickly and easily. Since its inception in 2007, Biz2Credit has facilitated over $8 billion in funding, offering a range of financial products including term loans and revenue-based financing. By leveraging its advanced technology, the platform provides tailored financing solutions with fast approval processes, simplifying the journey for businesses to secure the capital they need. Biz2Credit is committed to supporting small businesses through transparent, flexible, and efficient funding solutions. For more details: www.biz2credit.com

Logo: https://mma.prnewswire.com/media/2789415/Biz2X_Logo.jpg

 

View original content:https://www.prnewswire.com/in/news-releases/biz2x-announces-off-campus-recruitment-drive-for-ai-engineering-and-data-science-roles-302790176.html

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New report by AIA and EY US identifies clear path to scale digital thread technologies

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NEW YORK, June 3, 2026 /PRNewswire/ — As aerospace and defense (A&D) organizations face unprecedented demand to increase output, digital thread initiatives are emerging as a critical enabler of end‑to‑end visibility and faster decision‑making. New joint research released today by the Aerospace Industries Association (AIA) and Ernst & Young LLP (EY US) finds that while digital thread efforts are delivering measurable benefits, most organizations remain unable to scale it across the enterprise. A framework for integrating data across systems and lifecycle stages of a product, digital thread is the seamless flow of trusted data across design, production and operations, enabling traceability and transparency.

The study, “Digital thread delivers value, so what’s stopping scale?“, is based on a survey of 57 A&D leaders as well as in-depth executive interviews. Findings show that while adoption is widespread, enterprise‑level impact remains limited. Three‑quarters of organizations are implementing digital thread in some capacity, yet only 14 percent say it is fully applied across the enterprise. The study pinpoints the moves that make digital thread programs succeed: the right ownership model, the right funding approach and the right use cases to start with.

“Aerospace and defense’s current challenges have turned digital thread from a nice-to-have into a must-have,” said Tim White, AIA Vice President of Engineering and Technology. “It sharpens quality, strengthens traceability, cuts redundancy and utilizes the data artificial intelligence needs to unlock real optimization. To meet unprecedented demand in the supply chain, digital thread is essential for organizations looking to compete and win in the future.”

“Digital thread is no longer a technology problem. It is an execution problem,” said Raman Ram, EY Americas Aerospace, Defense & Mobility Leader. “Organizations see value in pilots, but without enterprise‑level governance, performance measurement and data standardization, that value never scales to impact delivery, capital efficiency or risk.”

Key findings in the study include:

Despite years of investment in digital thread, 56 percent of A&D organizations remain in pilot or limited implementation phases.Execution, ownership and data readiness are the biggest barriers to enterprise impact.Fewer than half (45 percent) of leaders surveyed say their organization has a clear strategic vision and sustained commitment for digital thread.Data readiness is a critical constraint to digital thread implementation, with only 29 percent of respondents saying their enterprise data is standardized, governed and accessible, limiting organizations’ ability to connect workflows across the lifecycle and apply analytics and artificial intelligence (AI). While 71 percent of leaders expect the greatest future value from digital thread will come from predictive analytics and AI-enabled insights, the research reinforces that these outcomes depend on a mature digital thread foundation.

Read the full report to understand key barriers and opportunities for digital thread in A&D here.

About the study

EY US surveyed 57 leaders from Aerospace Industries Association (AIA) member organizations and conducted eight in-depth executive interviews to understand how digital thread is being applied in practice. The respondents are primarily from US‑based companies with annual revenues exceeding $100 million and at least three years of investment in digital thread initiatives.

About Aerospace Industries Association

The Aerospace Industries Association represents the nation’s aerospace and defense sector, a key driver of U.S. security, innovation, and economic strength. Since 1919, AIA has advanced policies that support industry competitiveness, workforce development, and technological leadership. As America celebrates its 250th anniversary, AIA ensures that our industry remains one of America’s defining success stories — and a foundation for its future.

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected multidisciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

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SOURCE Ernst & Young LLP

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