Author: nripn

Apple(AAPL, Financial) appears to have emerged from a recent period of weak sales, which has sparked new enthusiasm for iPhones fueled by innovative artificial intelligence additions. Its fourth-quarter report showed 6% growth in iPhone sales, which totaled $46.22 billion for the three months to September. This growth contrasts with year-over-year declines and brings total revenue to $94.93 billion, $400 million ahead of forecasts. Nevertheless, the increase brought Apple’s overall profit to $14.74 billion, 36% lower than the same period last year, mainly due to a one-time provision of $10.2 billion. for tax arrears following a decision by the Court of…

Free newsletterGet the latest Fintech Singapore news delivered to your inbox once a monthThe Global Finance and Technology Network (GFTN) today announced its Board of Directors and International Advisory Council.Established by the Monetary Authority of Singapore (MAS) to promote innovation in finance, GFTN has brought together a team of eminent individuals from the public and private sectors from around the world.GFTN will operate through four strategic activities: GFTN Forums, a global conference platform focused on finance and technology; GFTN Advisory, which provides practitioner-led advisory services and research on innovation policy; GFTN Platforms, a services platform for small businesses and FinTech…

Kenyan fintech startup Chumz, which helps users set and achieve their savings and investment goals through behavior-based prompts and mobile money deposits, is testing its solution to go live in Rwanda after reaching 200,000 registered users in its national market. Formed at the end of 2019, Chumz worked on a prototype in 2020, contacted the regulator for a license in late 2020 and received one a year later. The startup has created a goals-based mobile app that helps users save and invest money from their mobile money accounts, with as little as US$0.05. The platform works by routing funds collected…

Artificial intelligence (AI) is everywhere and is reshaping industries left and right. For financial services, it’s a mix of excitement and caution, especially as this traditionally cautious field begins to wade into the high-tech waters. So, what does AI do for wealth management? IFA Magazine Senior Financial Reporter Jenny Hunter spoke with the CEO of purple streetStu Breyer, to learn how AI can help financial advisors work smarter, maintain client trust, and stay ahead in a rapidly changing world. Start with the problem, then find the AI The biggest mistake people make? Jumping straight to the coolest AI tool without…

Free newsletterGet the latest Fintech Singapore news delivered to your inbox once a monthIn 2024, Singapore’s fintech landscape continued its dynamic expansion, strengthening the country’s position as a leader in payments innovation, digital banking and digital asset management.THE Singapore Fintech Report 2024produced by Fintech News Singapore with support from Visa Direct, offers analysis of these advances, exploring the transformation of this growing ecosystem as well as the key trends shaping the sector.Expanding Payments ConnectivityThis year’s report highlights Singapore’s leadership in cross-border payments integration, highlighting the country’s position at the forefront of payments innovation, both regionally and internationally .Source: Singapore Fintech…

Solve the challenge of manual auto loan financing with a unique, secure, AI-powered document management platform.If anyone understands the scale, it’s auto financiers. If you are one, you may know that around the world, it is estimated 92.4 million vehicles were sold in 2023. About 80% of new U.S. vehicles are financed. This means that every year you process and finance millions of car loans and their supporting documents, often still in paper format. Unfortunately, this also translates into millions of hours of manual processing spent on the 40 to 80 pages of documents per loan, as well as checking…

SUMMARY PB Fintech reported a consolidated net profit of INR 50.98 Cr in Q2 FY25, compared to a loss of INR 21.11 Cr in the year-ago period. Operating revenue jumped to INR 1,167.2 Cr in Q2 FY25 from INR 811.6 Cr in last year’s quarter. The total expenditure jumped to INR 1,213.4 Cr from INR 930.22 Cr last year. PB Fintech, parent company of Insurtech major Policybazaar, reported a consolidated net profit of INR 50.98 Cr in the second quarter (Q2) of the financial year 2024-25 (FY25), compared to a loss of INR 21.11 Cr in the of the previous…

Key global FinTech investment statistics in Q3 2024:Global FinTech investment fell 55% year-on-yearUS companies continue to dominate the global FinTech sector, completing 60% of the top 10 deals in the quarter.AlanThe French insurance unicorn known for its streamlined health insurance and digital health has secured a $193 million Series F round to be the only European company to make the top 10 deals.In the third quarter of 2024, the global FinTech sector recorded 981 deals, reflecting a 57% decline from the 2,275 deals closed in the third quarter of 2023, but a slight increase of 7% from the 916 funding…

According to a Digitimes article posted Monday, Nvidia (NASDAQ:NVDA) East it is said that he carried orders originally placed with Super Micro Computer (NASDAQ:SMCI) to other suppliers to minimize disruptions in the AI ​​server supply chain. This change is intended to stabilize Nvidia’s business in light of Super Micro’s financial reporting difficulties, whose failure to submit its financial statements by November 20 could result in delisting. After resignations of auditors and questions about its financial transparency, Super Micro has come under scrutiny. After Hindenburg Research published a brief analysis last week questioning the company’s accounting policies, the AI ​​server provider…

Unlock Editor’s Digest for freeRoula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter.Mark Zuckerberg’s Meta plans to build a nuclear-powered AI data center in the United States have been thwarted in part because a rare species of bee was discovered on land reserved for the project, according to people familiar with the matter.Zuckerberg had planned to strike a deal with an existing nuclear power plant operator to provide emissions-free electricity to a new data center supporting his artificial intelligence ambitions. However, the potential deal faced multiple complications, including environmental and regulatory challenges, these sources said.The…