Author: nripn

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,”…

American companies already dominate the global stock market in terms of size. A new chart from JPMorgan Asset Management shows this trend is likely to continue. The company attributes the boom to artificial intelligence. In the long-term capital market assumptions for 2025 released Monday by JPM, the team projects that the share of U.S. companies’ market capitalization in the total global stock market will increase from 64% currently to 60% in 2037. Still, as shown in the chart below, the United States (in green) would maintain a large lead over China (in red), the second largest share of the global…

Payments and lending startup Slice has completed its merger with North East Small Finance Bank (NESFB), creating a unified banking entity, effective October 27, 2024.“For more than a year, the slice and NESFB teams have worked tirelessly to make this merger a reality. Today, we are thrilled to be at the starting line of building India’s most loved bank. We are grateful to the regulatory authorities, especially the RBI and the Government of Assam, for trusting us on this transformative journey,” said Rajan Bajaj, founder and CEO of slice and executive director of the merged entity. .The National Company Law…

DNA Financial Solutions, a mortgage and insurance broker, has unveiled a new financial technology company to enhance its current service offering. It created Mogul, a finance and insurance comparison tool, in partnership with its sister software company, Roco Technology Group. Mogul, officially launched this weekend, is a self-driving platform serving investors, business owners and entrepreneurs in the real estate industry. The software will also play a vital role in expanding DNA Financial Solutions’ capabilities, enabling the team to evaluate and negotiate transactions more quickly and efficiently with clients. The tool offers integrated insurance and protection products to complete the real…

Indian fintech startup Slice has completed its merger with North East Small Finance Bank, marking a rare example of a startup successfully entering India’s tightly regulated banking sector. The merger, first offered last yearis transforming the Bangalore-based startup into a banking entity, after months of regulatory scrutiny that reshaped India’s fintech landscape. Slice, which previously made its name issuing credit card-like products, will maintain its existing digital payment and lending services while expanding its traditional banking offerings, including savings accounts and investment products, according to an email sent to customers on Sunday. Banking licenses have proven difficult to obtain in…