Author: nripn

Christopher Hui says tax breaks for investments in virtual assets are being considered. BLOOMBERG Cici Cao and agencies Hong Kong yesterday outlined five key initiatives to use artificial intelligence in finance and launched a tax break for virtual assets, as part of efforts to promote itself as an Asian financial hub. The guidelines were announced during Fintech Week, the city’s annual flagship industry event. They include a dual-track approach to promoting the use of AI in the financial services sector while addressing challenges such as cybersecurity and data privacy, AI governance strategy for financial institutions , updating regulations…

Jeanne Pastrano, a mother of two, quit her job and took a six-month sabbatical after feeling burned out.Jeanne PastranoJeanne Pastrano quit her $200,000-a-year job in New York after feeling burned out.After a six-month break, she said she feels rejuvenated and ready to return to work.She disclosed her sabbatical on her LinkedIn profile – and still found it easy to find a new job.This essay as told is based on a conversation with Jeanne Pastrano, a 37-year-old mom based in New Jersey. Pastrano quit his job in April after feeling exhausted. This story has been edited for length and clarity. Business…

Chime Financial reportedly intends to launch its initial public offering (IPO) in 2025. The FinTech company aims to do so in the United States but has not yet signed banks for the IPO, Bloomberg reported Friday March 22, citing anonymous sources. Chime did not immediately respond to PYMNTS’ request for comment. Chime has been considered an IPO candidate for years, according to the report. The company was valued at $25 billion in 2021, but then saw the tech boom fade as interest rates and inflation rose. Chris Brittco-founder of Chime, said in December that the company was “as ready for…

Inicio AI, a female-led fintech start-up based in Coventry, has won £1 million in the One To Win pitch competition at Birmingham Tech Week’s Tech Awards. Led by TechWM and supported by sponsors including Rigby Group and the West Midlands Co-Investment Fund, the competition offers the largest single prize pool for a pitch competition in the UK. Just four months after its launch at London Tech Week, Inicio AI, which created Budgie AI, a virtual agent that provides financial support, was chosen as the region’s most promising startup from 140 applicants. The competition highlights the potential of the West Midlands…

Free newsletterGet the latest Fintech Singapore news delivered to your inbox once a monthA new report from Reputa, an online reputation monitoring system provided by Viettel, Vietnam’s state-owned telecommunications giant, offers analysis of the country’s fintech sector and provides a ranking of the most reputable fintech companies in Vietnam based on their online reputation and reach.Released on July 16, 2024, the report examines the main trends, developments and leading players in the fintech industry in Vietnam, drawing on extensive data collected from social media interactions and covering 46 fintech companies.This analysis includes 54,976 discussions from June 1 to June 30,…

Which presidential candidate will be best for fintech over the next four years? Of all the issues troubling the 2024 presidential campaign, it’s safe to say that the future of fintech is not among the top two or three. Nonetheless, it is also safe to say that the fintech sector under a Trump administration will face different challenges and opportunities than under a Harris administration. First, let’s look at how Republican candidate Donald Trump’s policies could have a broader impact on fintech and financial services. “The President of Crypto” Whether or not “they” call Donald Trump “the president of crypto,”…

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…