Author: nripn

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…

New collaborative fintech careers event draws large crowd of business students Leaders and faculty advisors from the Accounting Club, the Finance Club, and the Information Technology and Cybersecurity Club worked together to create a new event focused on the ever-changing world of financial technology. RGA representatives Stephanie Kut (left) and Edmond Deuser speak with UMSL business students during the fintech collaborative event last Tuesday. (Photos by Derik Holtmann) The origins of an innovative and collaborative event organized last Tuesday at Anheuser-Busch Hall on the campus of University of Missouri-St. Louis can be traced back to Information Technology and Cybersecurity Clubs…

The smartphone industry is banking on AI to reaccelerate device sales after years of slowing growth. But achieving this will require giving consumers a reason to buy new phones more often.Qualcomm (QCOM) is aiming to do just that with its latest smartphone chips, adding a number of new built-in AI capabilities that it says will let you do things like virtually adjust the lighting on your video calls in real time and allow your device to recognize real-world objects without having to access the web.The Snapdragon 8 Elite is Qualcomm’s latest high-end mobile processor and offers improved performance and power…

Funding for fintech startups in Southeast Asia fell 28% in the third quarter of 2024, from $447.5 million to $322 million, according to the latest data released by Tracxn on October 17. Photo: Shutterstock The market intelligence platform said Southeast Asia remains an important hub for fintech investmentsrepresenting 14.5 percent of total sector funding in Asia. Singapore ranks third in the region in terms of fintech investment, establishing itself as a major player in this space. While Southeast Asia’s fintech ecosystem saw its peak funding in the third quarter of 2021, a steady decline has persisted since, despite a brief…

Innovations in AI and embedded finance have sparked a recovery in fintech financing, according to third-quarter figures compiled by Dealroom.EditorialThis content was selected, created and edited by the Finextra editorial team based on its relevance and interest to our community. While funding for European startups faltered in the third quarter of 2024, with startups raising a total of $11.3 billion – down 35% from the same period last year – fintech has held up the trend, recovering from a slowdown in 2023. Funding for fintech startups increased 45% year-over-year in the third quarter of 2024, reaching $1.6 billion. AI technologies…