Author: nripn

October 27, 2024, the fintech unicorn slice finalized its merger with the North East Small Finance Bank (NESFB). The merger, initially announced in October 2023, received clearance from National Company Law Tribunal (NCLT) after fulfilling all requirements required by shareholders and regulations approvals. The transaction unites Slice, known for its digital financial services, with NESFB’s banking operations, marking a new chapter for both entities. Unified operations and expanded service offerings Following the merger, the combined entity will integrate the operations, assets and brand identities of both companies into a single technology-driven banking institution. This transformation will enable the merged entity…

AArtificial intelligence (AI) is becoming one of the key drivers of financial innovation hubs in the global economy. These innovation hubs are frameworks developed in the context of interaction between households and businesses through financial systems of direct and indirect lending and borrowing.The interaction between households and businesses happens through the language known as data. The data provides tabular understanding for investment companies and banks to identify consumer trends in taste and fashion as well as systematic restructuring of financial spending and investments. The defined algorithms continue the evolution of the design, taking into account consumer behavior and the evolution…

Tether CEO Paolo Ardoino has been transparent about the company’s reserve assets, amid swirling rumors that Tether could be monitored by US authorities. According to Ardoino, Tether currently holds a the staggering sum of $100 billion in US Treasuries, more than 82,000 Bitcoins worth around $5.5 billion and 48 tonnes of gold to back its USDT stablecoin. The breakup comes as Ardoino directly refuted claims that Tether was under investigation, dismissing a Wall Street Journal report suggesting the company could face scrutiny for sanctions violations against money laundering and sanctions. Ardoino criticized the Wall Street Journal’s reporting, adding that Tether…

DigEnd ranked the presentations of five fintechs that reached the finals of an annual incubation program run by Accenture. Eight startups reached the final, but DigEnd has already covered three: BlueOnion, Evident and Planto. Here are links to the founders of each company discussed on our video podcast, DigFin VOX: Okay, and then there were five. Based solely on their brief arguments, here’s how DigEnd sees the potential of its business model, with a few questions that potential investors or partners should keep in mind. 5. Oxford Risk (UK) This spinout from the University of Oxford has developed software to…

RIYADH, SAUDI ARABIA – Media OutReach Newswire – September 8, 2024 – Steven Chou, Chairman of Sahm Capital and Chief Strategy Officer of Valuable Capital Group Limited, highlighted the transformative role of technology in the Saudi financial sector during his speech at 24 Fintech in Riyadh. The event attracted 36,959 visitors, over 300 brands and 350 industry investors, making it a key platform for discussion on fintech innovation. During the panel, Steven presented Sahm Capital’s leadership position as the first brokerage on Tadawul to implement a proprietary settlement and clearing system. “Our system captures the entire trade cycle, providing Saudi…

ADIPEC, the world’s largest energy event, announced that its historic 40th edition will bring together the global energy industry to explore the key role of artificial intelligence (AI) and finance in acceleration of the global energy transition. It will also include three new conferences with new voices from finance, technology, youth and the Global South to help shape a more sustainable and inclusive energy future. Held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and organized by ADNOC, ADIPEC 2024 will take place in Abu Dhabi from November 4 to…

Startups in the Ag Marketplaces & Fintech category have taken the top spot in funding in recent months, surpassing the Midstream Tech category in 2023 and bringing in $65 million, or 41% of total investment on the continent until present in 2024* according to the report recently published by AgFunder. Africa Agri-Food Technology Investment Report 2024. (Disclosure, AgFunder is the parent company of AgFunderNews.) A few large deals helped push the total up in the category that represented a smaller amount of deal activity, with 17 deals closing – or 36% of the 47 African agritech deals closed so far…

Hong Kong has unveiled its first guidelines for “responsible” application of artificial intelligence (AI) in the financial sector. Announced at the annual FinTech Week, these AI guidelines aim to help financial institutions harness the transformative potential of AI while preserving data privacy, cybersecurityAnd intellectual property. In leading this initiative, the Hong Kong government is establishing a regulatory framework to balance innovation with caution, ensuring the sustainable integration of technology into banking, asset management and other financial services. AI guidelines require banks, brokers, asset managers and others financial institutions establish an AI governance strategy, providing guidance on how AI should be…

Hong Kong regulators are considering expanding tax breaks to include digital assets such as crypto and the use of artificial intelligence technology in financial sectors. According to an October 28 Bloomberg report, that of Hong Kong Financial Services and Treasury Secretary Christopher Hui said Hong Kong regulators had proposed an extension of tax relief laws that would take into account digital asset investments. A tax break means that Hong Kong citizens who own crypto investments could benefit from a tax reduction in the near future. Hui said the tax relief law is expected to be proposed as legislation by the…

Traction applicationsa Nigerian fintech startup, has confirmed in a statement to Techpoint Africa that it will lay off some employees following its recent acquisition by OmniRetail. The company said the decision was partially influenced by the acquisition. “Following the acquisition of Traction Apps, as with all mergers and integrations, we are optimizing certain departments to align with our broader vision. This restructuring is a strategic step to improve the efficiency and scalability of our value chain, ensuring we remain well positioned for long-term growth. Most of the senior team members who played key roles in Traction’s growth have been retained,”…