Author: nripn

Based in Oslo Bislaba fintech startup, secured €1.7 million in a pre-seed funding round to fuel its international expansion. The round was led by Sondo Capital, with additional contributions from angel investors including Frank Vikingstad (Sysco, Viglio), Christoffer Herheim (Optio) and Bent Skisaker (Autostore). Credit scoring and financial crime prevention Bislab, a financial technology startup founded by four entrepreneurs with experience at SafetyWing, Knowit and Accenture, has created an accurate and efficient credit scoring system. The team spent over two years developing the platform from a small apartment in Oslo. Bislab’s API solution enables banks, financial institutions and large enterprises…

As artificial intelligence (AI) continues to advance, its role in preventing financial crime is growing, with organizations now considering AI as a fundamental part of their risk management strategies.Generative AI (gen AI) has opened up new possibilities for financial crime detection, and its adoption in recent years marks a crucial shift for the industry. While AI has long been applied in finance to improve customer interaction, it is now increasingly used to help operational teams identify high-risk activities and investigate unusual transactions, improving thus the effectiveness of financial crime detection.SymphonyAIwhich offers an AI SaaS solution, has recently delved into the…

JOHANNESBURG, October 02, 2024 (GLOBE NEWSWIRE) — Lesaka Technologies, Inc. (“Lesaka” or the “Company”) (Nasdaq: LSAK; JSE: LSK) today announced that it has completed the acquisition of Adumo RF ( Pty) Ltd (“Adumo”). The transaction was settled by the issuance of 17,279,803 ordinary shares of Lesaka and a cash payment of ZAR232.2 million ($13.4 million), implying a total purchase consideration of 1.67 billion ZAR ($96.2 million) using Lesaka’s closing price of October 1, 2024. Johannesburg Stock Exchange of ZAR 83.05 per share. All amounts in this release have been converted to US dollars at the October 1, 2024 closing exchange…

An inter-ministerial task force has published an interim report inviting public comment on the use of artificial intelligence (AI) in the financial sector. Created at the end of 2022, the team aims to prepare for the growing integration of AI in finance and to establish guiding principles for financial regulation on the subject.Although AI has many benefits in finance, concerns remain about its potential misuse, including the risks of fraud, misinformation and privacy violations, which highlight the need for regulatory oversight. The team includes representatives from the Ministry of Justice, the Ministry of Finance, the Competition Authority, the Securities Authority,…

Join us for Bahrain’s first fintech gathering, the Fintech Revolution Summiton February 25 and 26, 2025at Crowne Plaza Manama. Organized by TraiCon Events, this summit will bring together more than 500 BFSI experts and fintech leaders to explore fintech trends and investment opportunities, with a focus on Bahrain’s Vision 2030 aimed at fostering a cashless society. This exclusive event will feature key players in the fintech ecosystem, including founders, central bankers, financial sector experts, regulators, policymakers, technologists, investors and academics from all over the world. Attendees will have the opportunity to network, engage in in-depth discussions, and gain valuable insights…

SHENZHEN, China, November 7, 2024 /PRNewswire/ — 2023 was a pivotal year for the FinTech industry, marked by four major trends in the global FinTech landscape: the maturation and expanded application of AI technology, the rise of emerging payment technologies, the convergence and innovation of various technologies, and an increased focus on privacy protection. Powered With these technological advancements, the adoption of innovative payment technologies enables cross-border payments, thereby providing improved quality and efficiency. This progress is mainly reflected in the following aspects: 1. Accelerate with AI to improve transaction efficiencyThe high efficiency of AI technology in real-time processing and…

The past two decades have seen an explosion of innovation in Asia, helping the region become a global leader in areas such as robotics, electric vehicles and 5G networks. But there is one area that Asia dominates more than any other: fintech. Any first-time traveler to Asia will be struck by a combination of mobile and digital wallet technology that is a generation ahead from countries like the United States, where cash and paper checks are still common.Asian progress is the reason why Fortune publishes Fintech Innovators Asia, our inaugural list of leading companies in five segments: blockchain and crypto;…

The rise of Africa’s fintech sector has had a positive impact on financial inclusion, helping to give individuals and small and medium-sized enterprises (SMEs) better access to traditional financial services.Although the exponential growth of fintech has not been without risks and challenges, it has arguably also led to a considerable improvement in the lives of people on the continent.However, the journey of many African fintech entrepreneurs has by no means been easy. In fact, according to a study by the Boston Consulting Group, only 8% of startups make it to the Series B funding stage, and many of them close…

Artificial intelligence (AI) is quickly becoming an essential resource for financial planning. A recent survey from Ipsos, the world’s leading market research company, reveals that nearly 40% of Americans use AI to manage their finances. While some are in favor of adopting AI and using it in the hustle and bustle of everyday life, there are also downsides to be aware of. Don’t miss: First, let’s look at how Americans are using AI for their personal finances. According to Ipsos: 49% of Americans who use AI for their finances use it to learn more about personal finances 48% use it…

“This is our first cost reduction exercise since our inception. We have identified significant cost savings through AI that can improve profitability and efficiency, and which can be reinvested into business growth,” said Sharan Hegde, CEO of the 1% Club, in an article on LinkedIn. To help the licensed For employees, the company offered severance pay based on seniority and extended support to find them jobs, he added.