Author: nripn

Diving brief: Tighter regulatory oversight could slow innovation, but additional safeguards are needed because fintech-bank partnerships become more complex and as fintech take on more responsibility for compliance, analysts said at the conference on Tuesday Finovate Fall conference in New York. “Most of the enforcement actions we’ve seen over the past two years are because risk management and compliance issues weren’t addressed upfront,” Donna Murphy, deputy controller of corporate policy. non-compliance risks at the Office of the Comptroller of the Currency, said Tuesday. “This type of careful, cautious approach to innovation is what we expect from banks. …Will it be…

Visa joins African fintech Moniepoint as a new investor. The business banking and payments platform confirmed to TechCrunch that it has received a “strategic investment” from the global payments giant as both companies look to drive financial inclusion and support the growth of small and medium enterprises (SMEs) across Africa. Sources close to the deal say the fintech – which announced an investment of $110 million last October, received more than $10 million from Visa. The fintech, whose Series C round now exceeds $120 million, is reportedly in talks with other investors and could attract more funding in the coming…

KEY TO REMEMBER Affirm has entered into a $4 billion financing partnership with Sixth Street, in the latest commitment by a private lending company to a financial technology company.Sixth Street is investing the money in a vehicle that will repurchase Affirm’s three-year loans in a deal the companies say is the largest capital commitment guaranteed by the buy now, pay later company ( BNPL).This investment will in turn give Affirm the ability to lend more than $20 billion in loans over the next three years, they said. Affirm (AFRM) has entered into a $4 billion financial partnership with Sixth Street,…

Bengaluru, January 22: Flipkart co-founder Sachin Bansal’s new fintech company Navi Technologies was allegedly cheated of INR 14.26 crores. The alleged fraud allegedly took place last month when Bansal-led Navi Technologies fell prey to ‘payment gateway fraud’. The incident came to light after Sachin Bansal alleged that miscreants posing as customers abused a bug and cheated his fintech startup.The fraudsters cheated the company for over INR 14 crores in 14 days in December 2024. According to a report by The HinduWhitefield Cyber ​​Crime Police in Bengaluru filed a case against the unidentified fraudsters on Saturday, January 18. As per the…

Unlock the White House Watch newsletter for freeYour guide to what the 2024 US elections mean for Washington and the worldOpenAI and SoftBank announced Tuesday that they would launch a massive artificial intelligence infrastructure project in the United States, a move that Donald Trump hailed as a “statement of confidence in America.” The joint venture, called Stargate, plans to spend $100 billion on Big Tech infrastructure projects, with that figure rising to $500 billion over the next four years, the groups said. It was not immediately clear how Stargate would obtain funding, but a person involved with the project said…

Monica Peethum-Nanoo, Senior Director: Risk and Compliance, Altron Fintech. (Image: Altron Fintech) The digitalization of payments has evolved the financial landscape, and regulatory compliance and risk management have become critical challenges for fintech companies. With the increasing complexity of global regulations, the stakes for non-compliance are higher than ever, posing significant legal, financial and reputational risks.Altron FinTech, which positions itself as a leader in the fintech sector in South Africa, is at the forefront of addressing these challenges. In this in-depth discussion, we speak with veteran risk and compliance expert Monica Peethum-Nanoo to learn how Altron FinTech is pioneering innovative…

MoneyHashan Egyptian fintech startup that offers APIs to help businesses in Africa and the Middle East manage their online payments on a single platform, has successfully raised $5.2 million in a seed funding round -series A. The company plans to use the newly acquired funds to strengthen its presence in the Middle East and North Africa (MEA) region and to expand into other markets. The financing round was led by Thriving Businesses and included participation from Saudi Arabia’s Vision Ventures, Arab Bank’s Xelerate Fund and Emurgo Kepple Ventures. Notably, angel investor Jason Gardner, founder and former CEO of Marqeta, also…

President Donald Trump on Tuesday announced a new $500 billion private sector investment to build artificial intelligence infrastructure in the United States, with Oracle (ORCL), ChatGPT creator OpenAI and Japanese conglomerate SoftBank (9984.T) among those who engage in the joint enterprise. The joint venture, called Stargate, is expected to start with a data center project in Texas, according to CBS News, who was the first to report the news. Company executives were expected to commit to an initial $100 billion investment during an appearance at the White House on Tuesday. Other companies are expected to join the venture and increase…

– Advertisement – Lithuanian fintech company ArcaPayknown for its cross-border B2B payment solutions, is acquired by Eburya UK-based financial services provider owned by Banco Santander. ArcaPay has expanded into the Baltics and Finland, serving more than 1,500 SMEs with foreign exchange risk management and international transactions. The acquisition will integrate ArcaPay into Ebury’s global network, expanding its service offerings and market reach. Pending regulatory approval, the deal reflects growing competition in the region’s fintech sector, where alternative financial service providers are challenging established banks. Headquartered in Vilnius, Lithuania, ArcaPay specializes in cross-border payment solutions, currency conversion and risk management services…

– By CA (Dr) Swati Godbole In the changing field of economic growth, the link between financial strength and new ideas has become an important area of ​​research, especially in India. As the country faces rapid technological changes, different rules and varied economic problems, it is crucial to understand how financial systems are adapting. This analysis is timely as India faces both great opportunities and challenges, which require creative solutions for sustainable growth. India’s financial situation is changing a lot, and this change is influenced by both financial strength and new ideas. The rise of financial technology solutions shows this…