Author: nripn

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. forecast quarterly sales and capital spending above analyst estimates, fueling hopes that spending on AI hardware is expected to remain resilient in 2025. Most read on Bloomberg The main chipmaker of Apple Inc. and Nvidia Corp. plans to spend between $38 billion and $42 billion on technology and capacity this year, up to 19% more than analysts expected. It forecast revenue of between $25 billion and $25.8 billion for the March quarter, up to 6% above forecasts. TSMC shares saw the biggest rise since October, and the projected spending helped fuel a rally among…

YES Bank, in collaboration with the Reserve Bank Innovation Hub (RBIH) and SP Jain Institute of Management and Research (SPJIMR), announced the launch of the Frictionless Finance Accelerator program. This initiative, unveiled on National Startup Day, aims to help fintech startups address critical challenges, scale their innovations and drive financial inclusion. The startup ecosystem in India is thriving, with over 1.5 lakh startups registered by the Department for Promotion of Industry and Internal Trade (DPIIT) and over 100 unicorns. Fintech, a key pillar of this growth, is redefining access to financial services and enabling small businesses to thrive. With this…

THE MENA Fintech Association (MFTA), a non-profit organization supporting fintech innovation in the Middle East and Africa, is expanding its flagship Task Force on the Future of Finance to now encompass artificial intelligence (AI).Following this decision, the MENA working group will be renamed “The Future of Finance and AI”, to reflect the impact that AI is already having on financial services, as well as the central role that AI AI will play a role in shaping the next generation of fintech innovations. .The MFTA says AI is fundamentally changing the way financial institutions operate, provide services and manage risk. From…

BENGALURU: E-commerce giant Amazon has entered into a deal to acquire Bengaluru-based digital lending startup Axio, formerly known as Capital Float, as part of its strategy to enhance its financial services offerings in India .Axio, founded in 2013, allows individuals to benefit from a pay later or a credit offer on several terminals, Amazon being the largest. It works with a non-bank finance company (NBFC), offering loans through its own books and also co-lending partnerships with banks and other NBFCs.Sources told TOI that the deal value is currently pegged at an enterprise value of $150-160 million and is subject to…

Bangalore, January 17: Cash flow-based financing services provider, Velocity has launched Shipfast, a solution that will help direct-to-consumer (D2C) businesses offer faster deliveries through their websites.The new solution will help D2C brands deliver their products at a faster pace, enabling order fulfillment faster while reducing operational overhead, the company said in a press release. While D2C brands have seen significant growth on fast commerce platforms, many are choosing to own customer journeys by facilitating faster deliveries through their own websites to avoid high commissions. However, delivery delays, long problem resolution times, and lack of accurate tracking often lead to customer…

The promise of artificial intelligence (AI) to revolutionize finance is particularly compelling in India, a country striving to improve financial inclusion and security. AI offers powerful tools to expand financial services to underserved populations and combat increasingly sophisticated fraud. However, realizing this potential requires careful consideration of significant challenges, including regulatory frameworks, infrastructure limitations and the need for a skilled workforce. To fully harness the potential of AI, India must resolve these complexities while building on its growing confidence in digital platforms. This journey will define the future of financial security in the world’s fastest growing economy.Growing confidence in technologyThe…

Klarna is reportedly evaluating financial advisors for its initial public offering (IPO) in the United States. Goldman Sachs, JP Morgan Chase And Morgan Stanley were top contenders to advise Swedish payments fintech, Financial Times (FT) reported Tuesday July 16, citing sources close to the matter. The company, a pioneer in the buy now, pay later (BNPL) space, could list in the first half of next year, the sources said. A Klarna spokesperson declined to comment on the possible IPO when contacted by PYMNTS. As the FT notes, Klarna was the last rated at $6.7 billion in 2022, part of a…

1Money to use patent-pending BCB design to combat delays and security issues.Source link Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It is possible that some of the investors we feature have ties to other companies, including competitors or companies we write about. However, we would like to assure our readers that this will have no impact on the integrity or impartiality of our reporting. We are committed to providing…

Bench, the accounting startup that imploded during the holidaysfiled for bankruptcy in Canada on January 7, revealing massive debts, according to documents seen by TechCrunch. Deposits – one for the bench and another for 10 sheetsthe original name of Bench – show that Bench had $2.8 million in cash at the end of its life, but $65.4 million in liabilities. (TechCrunch converted bankruptcy filing data from Canadian dollars to US dollars at a rate of US$1 to CA$1.44.) Founded in 2012, Bench had raised $113 million from investors including Shopify and Bain Capital Ventures. Most of Bench’s debt – $50…

By Robert Anderson And Adam Hallquist This year will be both a year of transformation and preparation for the payments industry. The momentum that propelled the sector into 2024, including soaring stock prices And remarkable private catches — should continue this year, notably with promising IPOs on the horizon. While the opportunities are immense, there are growing complexities that could challenge incumbents and startups. Below are the key developments we expect to see in the payments industry in 2025. AI is boosting vertical SaaS and integrated finance We expect AI to coexist with vertical SaaS and integrated financial platforms –…