Author: nripn

Popular technology leader, Iyin Aboyeji, has blamed the younger generation of Nigerian fintech entrepreneurs for failing to seize new opportunities emerging in the country. The technology leader said this during the Rise up again The Morning Show, where he was a guest. According to the Andela co-founder, average Nigerians need help adapting to the current financial and economic realities brought about by rising inflation and its consequences. According to him, these realities and their challenges create opportunities that fintechs can seize and offer solutions. He said these solutions must be aimed at helping the average person in this high inflation…

Fintech company Obligo, which develops security deposit solutions for real estate rentals, raised $35 million in Series C funding. The funding round was co-led by True Global Ventures and 83North, and also included additional investors in equity and debt 10D, Ouverture Capital, HighSage Ventures, MUFG Innovation Partners and Viola Credit.The Obligo platform for tenants and landlords offers an alternative to security deposits using bank-issued letters of credit backed by Wells Fargo. The company, founded in 2018 by brothers Roey Dor and Omri Dor, uses Open Banking and AI to determine tenants’ eligibility for deposit-free rent.The investment, which brings the company’s…

IBM Expands Open Source AI with Granite 3.0, Boosting Business FlexibilityInternational Business Machines Corp. (NYSE:IBM) presented his last progress in artificial intelligence with the release of Granite 3.0, the company’s most sophisticated family of AI models. The announcement was made during IBM’s annual TechXchange event.Granite 3.0 models meet the growing demand for AI transparency, security and performance, especially in enterprises.Read also: OpenAI’s for-profit structure adds valuation complexity for Microsoft and other stock investors: reportAvailable under the Apache 2.0 open source license, Granite 3.0 aims to provide flexible AI solutions to businesses seeking cutting-edge performance with greater control and adaptability.The Open…

Consumer neobank Totem has pulled out all the stops to cover its bases when it launches in 2022.The startup had a niche audience — Native Americans — for whom a neobank did not seem to exist. It aimed to monetize beyond interchange revenue by giving the app a white label for each tribe. The founders, Amber Buker and Richard Chance, who are Indigenous people themselvesmapped features that would be of particular value to the community, such as credit building and a powwow search tool. He got his first tribal partner in 2023.Last summer, two years after Totem publicly announced its…

Microsoft (MSFT) continues to find ways to monetize its massive investments in artificial intelligence with a growing range of software offerings for businesses and consumers. The company’s latest effort is what it calls autonomous agents and comes as Wall Street prepares to scrutinize tech companies’ AI spending and growth.At its AI Tour event in London on Monday, which included speeches from CEO Satya Nadella and Copilot at Work CMO Jared Spataro, Microsoft announced that the new software would be available for public preview next month.Essentially personalized AI applications that can handle specific tasks for company employees, autonomous agents are intended…

Declining interest rates and continued attention to new technologies such as artificial intelligence have led to an increase in the number of potential fintech opportunities, said Zachary Wasserman, chief financial officer of Huntington Bancshares. The Columbus, Ohio-based bank and its in-house venture capital arm, Huntington Corporate Ventures, are seeing “a fairly notable acceleration in fintech venture capital activity, which we view as a good thing,” Wasserman said in an interview following the bank’s third-quarter earnings release Thursday. . “In our view, there are a lot more partnership opportunities here than competitive threats, and so it’s quite healthy and positive that…

Free newsletter Get the latest Fintech Singapore news delivered to your inbox once a month Thailand’s Securities and Exchange Commission (SEC) has announced upcoming regulatory changes regarding the use of digital asset payments. Starting September 6, restrictions on the use of digital assets as a means of payment will be eased and digital asset businesses under the supervision of the SEC will be able to participate in the Bank of Thailand program. Programmable payment sandbox. These changes follow a public hearing held in July, during which the SEC collected comments on the proposed changes. The majority of respondents supported the…

SUMMARY PB Financial Account Aggregator Private Limited (PBAA) received the Certificate of Registration (CoR) from the Reserve Bank of India (RBI) on October 21. Thanks to this, it can carry out the activity of a non-bank financial institution as an account aggregator without accepting public deposits. The fintech company incorporated the NBFC with a paid-up share capital of INR 5 Cr in February 2022. Fintech major PB Fintech, a wholly-owned subsidiary of PB Financial Account Aggregator Private Limited (PBAA), has received a Certificate of Registration (CoR) from the Reserve Bank of India (RBI). In an exchange filing, the company said…

A study by The College Investor reveals significant inaccuracies in Google’s AI-generated summaries for financial queries. Out of 100 personal finance searches, 43% contained misleading or incorrect information. Main findings The study evaluated AI insights on various financial topics, including banking, credit, investing, taxes, and student loans. The results showed: 57% of AI insights were accurate 43% contained misleading or inaccurate information 12% were completely incorrect 31% were either misleading or missing crucial details Areas of concern The researchers noted that the AI ​​had the most difficulty with nuanced financial topics, such as taxes, investments and student loans. Some of…

Before the advent of data science, the fintech industry faced a number of significant challenges. One of the main challenges was the issue of fraud and cybersecurity threats. With the rise of online banking and digital transactions, it has become increasingly necessary to have robust security measures in place to protect sensitive financial information. This is where data science has enabled fintechs to address existing challenges. Using advanced data analysis techniques, such as machine learning and artificial intelligence algorithms, fintechs can analyze large volumes of transaction data in real-time and identify patterns and anomalies indicative of fraudulent activity. . This…