Author: nripn

Advances in AI have increased over the past couple of years. But amid this hype arises a crucial question: How can companies use AI systems to sift through large data sets and optimize energy consumption, thereby reducing waste? AI has the potential to transform sectors such as agriculture, healthcare, finance, education, etc., says Manish Prasad, President and Managing Director, SAP Indian Subcontinent. “As we continue to integrate AI into various sectors, it is crucial to do so responsibly, ensuring that AI itself remains sustainable and ethical,” he told Sudhir Chowdhary in an interview. Excerpts: How can AI contribute to a…

Securities and Exchange Commission (SEC) Chairman Gary Gensler speaks with Yahoo Finance Reporter Jennifer Schoenberger to discuss the potential impact of artificial intelligence (AI) on financial markets. Gensler notes that AI has improved productivity over the past decade, long before the current wave of generative AI. “I think it’s accelerating and it’s changing finance in many ways,” he says. Gensler emphasizes that policymakers should focus on algorithmic conflicts, fraud protection, and the concentration of power in “consequent basic models.” For more news and expert analysis on the latest market stocks, read below. Market dominance here. This message was written by…

Financial technology company Affirm told regulators this week that a cyberattack on a banking partner exposed customer information. Affirm – which runs one of today’s largest buy, pay later platforms – said The Securities and Exchange Commission said Monday that information about its own customers was leaked in a cyberattack on Evolve Bank. Last week, the bank confirmed to have suffered a cyber attack exposing the personal information of an undisclosed number of customers. Affirm has partnered with Evolve Bank to issue its Affirm Card, which functions like a debit card but allows users to convert transactions into installment payments.…

Remittance-focused fintech startup LemFi has announced a major $53 million capital raise in a Series B funding round, aimed at facilitating its expansion into Europe.The round was led by London-based growth-stage investment firm Highland Europe, with participation from existing investors including Endeavor Catalyst, Left Lane Capital, Palm Drive Capital and Y Combinator. This brings LemFi’s total funding to $85 million.LemFi, which currently serves African immigrants in 22 countries, plans to use this funding to expand its service offerings, improve its payment network licenses and partnerships globally, and provide hyper-localized services.The expansion into Europe follows a partnership with Modulr and the…

Choice International’s brokerage division announced a groundbreaking partnership with AI-powered financial insights platform StockBee on Tuesday. This collaboration allows investors and traders to access real-time financial information, making Choice the only brokerage firm to offer such a service.The strategic integration allows Choice customers to use StockBee’s advanced AI technology, which processes large volumes of financial data per second. This capability allows investors to make informed and timely decisions, according to a release from Choice Equity Broking.“Our collaboration with StockBee is not just a partnership; this is an industry-first initiative that provides institutional-quality market information to retail investors,” said Arun…

Based in Amsterdam Clearlya fintech company focused on in-person payments, announced that it has raised €6 million in a seed round. Proceeds will support Klearly’s expansion into European markets and enable its SaaS partners to offer in-person payment solutions to SME merchants. Before this cycle, in May 2023, Kclearly secured €2.1 million as part of a pre-seed funding round. Investors support Klearly Klearly’s round was led by Global PayTech Ventures, founded by Javier Perez, former president of Mastercard Europe, alongside Antler Elevate and Shapers. Other investors include high-profile angel investors, such as the former CEO of Mollie and the former…

Nigerian fintech startup LemFi has raised $53 million in Series B funding to help it expand its product offerings and become a comprehensive financial services hub for immigrants around the world. Founded by Ridwan Olalere and Rian Cochran in 2021 under the name Lemonade Finance, before a Name change in 2023, LemFi is an international remittance and payments platform that enables diaspora communities in Europe and North America to reliably and affordably transfer money to emerging markets including China, India, Kenya, Nigeria and Pakistan. Since its launch, LemFi has grown to over 1 million customers and recently surpassed $1 billion…

Nvidia shares (NVDA) fell nearly 2% on Monday after the Biden administration published an updated export rule aimed at controlling the flow of artificial intelligence chips to “adversaries” like China. The White House said the rule would limit the number of AI chips called GPUs (graphics processing units) which can be ordered in most countries without a special license. Small orders of 1,700 GPUs or less would not count toward the export cap. NasdaqGS – Deferred listing • USD Closing: January 14 at 4:00 p.m. EST “Artificial intelligence is quickly becoming essential to both security and economic strength,” the White…

FortuneAlza, a Latin American startup that raised $6.6 million, abruptly shuts downAlza, a fintech backed by Thrive Capital, has closed its doors. The Alza website was offline on Monday and instead displayed the following… 1 day ago

January 23, 2024 The pace of innovation increases with each passing year. By the end of the decade, experts agree, we will see significant innovations that will reshape commerce and pave the way for “the next economy.” As commerce evolves, so will digital payments. The technologies that enable these new ways of paying and being paid will also support key growth drivers in the UK. It is therefore important that policymakers and industry work together to ensure that the UK remains a major hub for fintech in the years and decades to come. This is the third report…