Author: nripn

Global Paymentsthe publicly traded payments processor, is seeking a buyer for AdvancedMD, according to four banking and private equity sources. Global Payments has hired an investment bank to advise it on the sale process, the sources confirmed to Fortune. GPN wants $3 billion for AdvancedMD, but is more likely to receive something closer to $1.5 billion, one banker said. Fortune. “We decline to comment on market rumors or speculation,” a Global Payments spokesperson said in a statement. Fortune. Founded in 2000, AdvancedMD provides medical billing software, including payments, to medical practices. The South Jordan, Utah-based company said it currently serves…

Stripe, the world’s most valuable fintech startup, announced Friday that it will temporarily move to an invite-only model for signing up new accounts in India, calling the move a “difficult decision” as it scales in the country’s evolving regulatory landscape. In a statement published on its websiteStripe said businesses in India will no longer be able to create new accounts through the company’s website and will instead need to request an invitation. The startup, which competes with YC-backed Cashfree and Razorpay in the country, will now focus on supporting a number of businesses, particularly those focused on international expansion. “The…

Vijay Shekhar Sharma, Financial Technology Major led by Vijay Shekhar Sharma Pay would have appointed Sidharth Shakdher as commercial director, according to several media. The move follows his recent departure from Ola Mobility, where he served as Chief Business Officer (CBO). In his new role at Paytm, Shakdher will work closely with founder and CEO Vijay Shekhar Sharma, focusing primarily on the growth and profitability of the company. Sidharth Shakdher’s role at Paytm As head of business, Shakdher is expected to lead Paytm’s marketing strategies and business operations. His responsibilities will include scaling Paytm’s business growth, improving revenue streams and…

Moneybox, a leading UK-based saving and investing platform, has recently secured a significant £70 million investment, signaling its ambition to scale further in the fintech space. The new funding round, which includes investments from Apis Global Growth Fund III and Amundi, highlights the platform’s growing market strength. Existing investors such as Fidelity International Strategic Ventures and Oxford Capital also remain on board. This financial boost allows Moneybox to continue its mission of helping over 1 million users build wealth, with offerings like savings, investing, retirement planning, and home-buying tools. The platform has been a driving force in democratizing financial planning…

The use of AI in finance was a hot topic at this year’s Sibos conference, as banks consider how AI can transform the way financial services are delivered and consumed and, more urgently, the way their data is managed. Using Large Language Models (LLM) to increase efficiency, improve customer service, and improve decision-making has been part of the discussion since OpenAI launched ChatGPT in November 2022. While LLMs represent a significant advancement in AI capabilities, particularly in how machines understand and interact with human language, banks are reacting cautiously due to concerns about regulatory compliance, privacy and security. data security,…

The 2024 report highlights that Fintech founders diligently improved their results in 2024 despite a 91% drop in investments since the 2021 peak. SAN FRANCISCO, October 23, 2024 /PRNewswire/ — While fintech companies face significant headwinds – from high interest rates to increasing regulatory scrutiny – they are also finding opportunities in 2024, according to the latest report. Future of Fintech Report of Silicon Valley Bank (SVB), a division of First Citizens Bank. Venture capital (VC) investment remains weak, hovering near a six-year low for the sector, as deal flow has shifted to early-stage, with more than three seed deals…

Conversational artificial intelligence (AI) — using machine learning to facilitate natural language conversations between humans and machines — continues to make inroads in the financial services industry. In a press release published Wednesday (October 23), Kasisto announced some management changes, naming Lance Berks as CEO and Don Layden as executive chairman of its board of directors. “Berks is a seasoned leader in the conversational AI space, with a proven track record of scaling early-stage and high-growth AI companies,” the release said. He was previously a member of the leadership team of an enterprise AI software company. Amélie. According to the…

A. So, on average, banks charge you between 3 and 5% for the exchange. Then, if we look at international payments as a whole, including transfer fees, this can reach over 6%; in countries like Africa, it’s around more than 7%. We have therefore adopted an approach that fundamentally differentiates us from banks. We provide offshore accounts, so if you’re trying to receive a payment from the US, we give you a US bank account, which means the sender pays you through their local payment system, ACH, for example. So if the payment is made from ACH to ACH, the…

Nigerian fintech startup Klasha has raised another $2 million to expand B2B cross-border payment channels in China. Founded in 2021 by Jess Anuna, Klacha has developed a platform and APIs that allow users to transfer money to and from emerging markets without friction. It collects and sends over 120 currencies, saving traders time and money. The startup announced it has raised an additional $2 million to fuel its expansion initiatives in Asia, including the opening of a new office in Hangzhou, China. Klasha already works with many Asian PSSPs and companies, such as Coda Pay, Fomo Pay, Easy Transfer and…

Dan Ives is an equity research analyst at Wedbush Securities. He covers the biggest names in tech and always seems to have a handle on the latest megatrends. Right now, artificial intelligence (AI) is making headlines in technology. But one area of ​​AI that might be overlooked is information technology (IT) infrastructure. What does this mean? Here’s how infrastructure fits into the AI ​​narrative and why Super microcomputer (NASDAQ:SMCI) is my first choice to follow the trend. The development of AI requires sophisticated protocols at the hardware and software level. One of the most important pieces of this puzzle are…