Latest news with #debt servicing
Zawya
22-07-2025
- Business
- Zawya
Jordan: Public debt servicing in 2024 up by 14.4% — CBJ
AMMAN — The Central Bank of Jordan's (CBJ) annual report of the National Payments System revealed a 14.4 per cent increase in public debt servicing last year compared with 2023. According to the report, debt servicing reached JD4.8 billion in 2024, compared with JD4.2 billion in 2023, Al Mamlaka TV reported. The report indicated that debt servicing included the payment of interest on public debt issuances reached JD1.1 billion in 2024, compared with JD997 million during 2023, representing an increase of 19.4 per cent. The total value of public debt instruments issued in the market reached some JD5.5 billion in 2024 compared with JD5.2 billion in 2023, marking a 6 per cent increase. The issuances included bonds, sukuk, treasury bills, and other debt instruments, were the increase aimed at meeting government financing needs, according to the report. The Public Debt Management and Open Market Operations System (DEPO/X) is an integrated system under the CBJ for the registration and settlement of government securities. The system aims to enhance the efficiency of trading and settlement processes for government securities. It integrates seamlessly with the Real-Time Gross Settlement (RTGS) system, allowing banks to trade government securities securely and flexibly through buy-sell transactions. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Finextra
14-07-2025
- Business
- Finextra
AI startup Murphy raises $15m
Murphy, the AI-native platform transforming debt servicing through fully autonomous agents, comes out of stealth after raising $15 million in pre-seed and seed funding to accelerate its expansion across Europe and the United States. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The round was led by Northzone, with participation from ElevenLabs, Lakestar, Seedcamp, and existing investors. Debt servicing has historically been a slow, fragmented, and highly analogue industry, relying on costly call centers and generic engagement methods that leave vast amounts of recoverable debt untouched or written off. Murphy is reimagining the process from the ground up. By combining state-of-the-art AI voice agents, omnichannel outreach, and behavioural personalisation, Murphy is unlocking significant value for Debt Collection Agencies (DCAs) and enterprises that struggle with non-performing loans, 24/7 across over 30 languages. "We're building AI-native infrastructure that replaces traditional call centers with a scalable, multilingual solution. It helps companies recover more, faster, and more cost-efficiently, while staying compliant and treating debtors with respect." said Borja Sole, co-founder and CEO of Murphy. Murphy's technology has already been adopted by leading financial institutions, telecommunications providers, and mobility companies across Europe. Current customers include some of the largest banks, telecommunications, utility and debt servicing companies globally. In less than a year since launch, the company is managing hundreds of millions of dollars in debt, demonstrating superior recovery rates and drastically reducing operational costs compared to traditional methods. 'Debt servicing is a $300+ billion global industry that is ripe for disruption. After reviewing countless verticals, this stood out as a space where AI can make a major impact. Given their experience and relentless development speed, Borja and his team are uniquely positioned to transform this space.' said Jeppe Zink, Partner at Northzone. 'Murphy is delivering bottom line impact, to very large organisations in complex and regulated markets— that is extremely rare and a testament to the strength of the product the team has built' adds Pascual Cortes-Monroy, VP at Northzone. Founded in late 2024 by Borja Sole and Marc Sanchez, Murphy's team brings together expertise from fintech, AI engineering, and B2B SaaS. The company plans to use the funding to scale its product, expand its technical and go-to-market teams, and support rapid international expansion.
