Company: Vitesse
Founders: Phillip McGriskin, Paul Townsend
Website: https://www.vitessepsp.com/
About Vitesse
Vitesse was established in 2014 with the aim of addressing the expensive, obscure, and often outdated processes of cross-border payments. Taking their strengths in the global banking network, and combining this with leading in-house technology, Vitesse built an award-winning solution connecting both domestic and international clearing systems and delivering fast – sub-one minute – and cost-effective payments across the globe.
In 2022, Vitesse identified their sweet spot and shifted their focus towards the insurance industry, adding claim fund management to their payment proposition. Their integrated treasury and payment offer now includes safeguarding and full control over claim funds delegated to third-parties, as well as various methods to deliver slick payouts experiences to claimants. Since then, they have successfully processed, handled and settled claims worth over £5.5 billion.
A testament to their impact on the industry, Vitesse became one of the fastest-growing companies across Europe in 2024 as ranked by the FT 1000.
By streamlining claims processes and managing funds effectively, Vitesse are advancing the digital payments landscape and transforming how claims are handled.
Their offering increases governance, visibility and control of claim funds for insurers, making payments more reliable and efficient.
For claimants, who may be experiencing difficult circumstances such as property damage or health issues, the increased efficiency of payments has a substantial impact. By streamlining services, Vitesse helps insurers alleviate the burden on claimants, making the claims process less stressful and ensuring settlements are received promptly.
As the demands of claimants evolve, and pressure on providers continue to rise with an increased focus on providing precise and fast payments to claimants, Vitesse is providing a heavily required solution to an industry that is in constant need of digitalising and transforming their operations.
Vitesse is leading the way for the insurance industry by embracing technological innovation and automation, focusing on the continued progression of claims in a laggard space.
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