Author: nripn

Bengaluru: India’s fintech startup ecosystem secured $778 million in funding during the July-September period, reaching second place globally after the United States in terms of fintech funding raised in the third quarter, according to a report released on Tuesday .This growth can be attributed to government initiatives such as the promotion of digital payments through UPI, with over 14 billion transactions processed in May, the JAM-Trinity initiative integrating Aadhaar with bank accounts and mobile numbers, and the allocation of Rs 2,600 crore in incentives. to support fintech startups. This also represents a 66 percent increase from the $471 million raised…

Several chipmaker stocks rebounded Thursday amid optimism about AI demand at Taiwan Semiconductor Manufacturing Company (TSM) dazzling results in the third quarter.AI chip maker Nvidia (NVDA) rose as much as 3%, at one point hitting an all-time intraday high as investors reacted to TSMC’s positive sentiment towards artificial intelligence. Nvidia’s rival, Advanced Micro Devices (AMD) climbed 1.3% before paring gains. Semiconductor company Broadcom (AVGO) ends the day up 2.7%. Chipmaker Qualcomm (QCOM) rose as much as 1.7%, although the stock later reversed direction. US-listed TSMC shares jumped 9.8%, pushing the company’s market capitalization past the $1 trillion mark.After underperforming the…

In 2023, the global regulatory landscape revealed a startling revelation: fines imposed by authorities exceeded a colossal $10.5 billion. This figure not only reflects stringent enforcement measures, but also highlights new areas of regulatory oversight.This conclusion comes from the latest quarterly application data report for 2023 from CorlyticsA regulatory risk monitoring platform.The EU, in its unwavering commitment to data protection, has imposed fines close to €2.1 billion for violations of the General Data Protection Regulation (GDPR). The Irish Data Protection Commission (DPC) notably led the way in issuing two of the largest fines of the year, both targeting Meta for…

Filipino startup OneLot raises $4 million in pre-seed funding to boost AI financial technology for car dealerships.Source link Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature have ties to other companies, including competitors or companies we write about. However, we would like to assure our readers that this will have no impact on the integrity or impartiality of our reporting. We…

Welcome to TechCrunch Fintech! This week, we take a look at the madness that is Bolt’s proposed fundraising, how much money the Synapse founder has raised for his new venture, how much money Stripe has, and much more. To receive a roundup of TechCrunch’s biggest and most important fintech stories in your inbox every Tuesday at 8 a.m. PT, subscribe here. The big story Last week, the fintech world was abuzz with the crazy deal that Bolt had proposed to its shareholders. It was enough to make anyone’s head spin. So I spoke to a venture lawyer and two of…

The technology helped recover $1.3 billion in tax fraud in fiscal year 2024, according to the Treasury.The United States Department of the Treasury is turning more to artificial intelligence (AI) to combat fraud, using technology to thwart $4 billion in irregular payments over the last year. The agency released the estimate in a statement Thursday announcing the success of its “technology and data-driven approach.” In fiscal year 2024, which ran from October 2023 to September 2024, Treasury used machine learning AI to stop $1 billion in check fraud, it says . At the same time, its AI processes helped eliminate…

Mastercard has announced the latest cohort of its Start Path Emerging Fintech program, welcoming 10 innovative startups that are transforming the payments technology industry. These startups were selected for their innovative work in areas such as sustainability, cybersecurity, digital transformation and travel, and will participate in the world-renowned startup engagement initiative. Five of the companies presented their commitment to sustainability during Climate Week in New York in September, focusing on calculating impact data. The other five leverage cutting-edge technologies to combat cyber threats, streamline digital transactions and revolutionize the travel industry. Startups joining this cohort include AWorld, Bankingly, FootprintLab, HowGood,…

new York CNN — The federal government’s bet to use artificial intelligence to combat financial crime appears to be paying off. Machine learning AI helped the U.S. Treasury Department sift through massive amounts of data and recover $1 billion in check fraud in fiscal year 2024 alone, according to new estimates shared first with CNN. That’s nearly triple what the Treasury took in the previous financial year. “It’s really been transformative,” Renata Miskell, a senior Treasury official, told CNN in a telephone interview. “Leveraging data has improved our performance in fraud detection and prevention,” Miskell said. The Treasury Department credited…

Bangalore-based fintech unicorn Slice raised Rs 71.7 crore (around $8.6 million) from its founder and CEO, Rajan Bajaj. The funding comes from partially paid-up shares, as revealed in the company’s regulatory filing with the Registrar of Companies. Slice’s board of directors approved a special resolution to issue 22,000 shares at a price of Rs 32,606 each. The investment will be made in one or more tranches, focusing on overall corporate objectives to support Slice’s expansion and operational objectives. Recent funding and investors Last month, Entrackr reported that Slice is raise Rs 300 crore (approximately $36 million) through convertible debt. At…

Regulators stepped up their enforcement actions during the third quarter of 2024, setting unprecedented records in the number and scale of sanctions, according to a report from a global regulatory intelligence firm. Corlytics. Among these actions, the Commodity Futures Trading Commission’s (CFTC) $12.7 billion ruling against FTX and Alameda stands out as a pivotal moment for the cryptocurrency markets. The move marks a significant step toward increased accountability, two years after the collapse of FTX marked the start of a serious downturn in the cryptocurrency industry.Corlytics’ review highlights a wide range of regulatory crackdowns, not limited to the crypto sector,…