Author: nripn

SUMMARY The fintech unicorn’s new loan securitization deal is backed by a pool of unsecured personal loans, originated and managed by Navi Finserv. Navi Finserv, earlier, had entered into a $38 million (approximately INR 318.2 Cr) personal loan securitization deal with financial and investment banking firm JP Morgan, in July. The consolidated operating revenue of Navi Finserv, a subsidiary of fintech startup Navi Technologies, stands at INR 1,906.2 Cr during the financial year 2023-24 (FY24) Sachin Bansal’s fintech unicorn Navi Finserv has closed a $24.5 million (approximately INR 206 Cr) commercial loan securitization deal with Goldman Sachs (India) Finance Pvt…

NVIDIA shares (NVDA) notched a record closing price as investors continue to bet on the Artificial intelligence boomputting the chipmaker in contention for the top spot as Wall Street’s most valuable company.Shares rose 2.4% on Monday to above $138. Nvidia had already hit a record closing price of $135.58 in June. Nvidia stock rose sharply in October, at one point posting six straight days of gains.The stock’s rise began on October 2 after the announcement of a massive $6.6 billion funding round for OpenAI, the creator of ChatGPT. A large part of this funding will be sent back to Nvidiaas…

When Saudi Arabia-based Tabby – one of the Middle East’s first fintech unicorns – announced the acquisition of startup Tweeq, it turned heads among venture capitalists considering ventures. investment opportunities in the kingdom. Tabby’s Acquisition of Saudi Fintech Raises New Hopes for Venture Capital Firms The deal, which will see Tabby buy the digital wallet operator for an undisclosed sum, was seen as further evidence that the startup market in Saudi Arabia is maturing and could start to give private equity firms risk more strategies to exit their investments, investors said at the 24th Fintech Conference. in Riyadh last week.…

Venture capital funding raised by UK startups fell sharply in third quarter 2024, new research has revealed, adding further pressure on the founderis in searc of new investments. UK startups secured around $2.9 billion in venture capital funding in the third quarter, a 50% drop from the previous quarter, according to the latest report from HSBC Innovation Banking and Dealroom. According to the data, the third quarter of 2024 saw the smallest startup investment in the UK in the last five years. But the financing trend East widely consistent with the levels observed in 2023. Fintech at the top Fintech…

from Nvidia (NVDA) closing of registration Monday comes as AI hardware stocks continue their recent tear fueled by investor enthusiasm over growing demand for artificial intelligence.Nvidia shares are up 8% over the past week, pushing the chipmaker on the verge of unseating Apple (AAPL) as the most valuable company on Wall Street. The stock market rally follows recent comments from CEO Jensen Huang and the chipmaker’s partners touting an intense need for the company’s AI chips.Other AI Arm Chip and Hardware Stocks (ARM), Qualcomm (QCOM), Broadcom (AVGO), Super microcomputer (SMCI), Astera Laboratories (ALAB), And Micron (UM) also increased, as companies…

Latest Report on GCC Fintech Market 2024-2032GCC fintech market overview Reference year: 2023Historical years: 2018-2023Forecast years: 2024-2032Market growth rate: 17.6% (2024-2032)The GCC fintech market is growing due to digital transformation, growing adoption of mobile banking, regulatory support and growing investment opportunities. According to the latest report by IMARC Group, the market is expected to grow at a CAGR of 17.6% from 2024 to 2032.GCC Fintech Market Trends and Drivers:Growing digital transformation efforts along with a strong push towards cashless economies are the factors contributing to the growth of the GCC fintech market. Additionally, the market is booming as government authorities…

Bengaluru, October 15: 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…

Deriveone of the financial industry’s leading brokers, today commemorates its 25th anniversary, celebrating a quarter century of expansion and leadership in the sector. This milestone coincides with exciting developments within the business, including a new co-management structure, the launch of new offices in the UK and Senegal, and several prestigious awards. Derive has become a global leader in the online trading industry, currently serving over 2.5 million customers worldwide, with monthly volume exceeding $650 billion. His dedication to innovation has led to the introduction of new trading platforms, diverse asset classes and comprehensive educational resources. “Today is a big day…

The UAE has become a leading country in the development of AI-based technologies and solutions.The UAE is at the forefront of digital transformation and financial inclusion in the Middle East, leveraging the remarkable capabilities of artificial intelligence (AI) across various economic sectors, including finance and banking. This commitment enhances economic growth and prosperity while strengthening its leading status in the global financial landscape.According to official statistics, the UAE has become a leading country in the development of technological and AI-based solutions, fostering an enabling environment that accelerates digital transformation. The country aims to increase the contribution of the digital economy…

3 minutes of reading Last update: October 15, 2024 | 00:59 STI Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday warned that while artificial intelligence (AI) and machine learning (ML) have opened new avenues for business and profit expansion in the financial sector, excessive reliance on these technologies could pose risks to financial stability. As a result, banks and financial institutions must implement adequate risk mitigation measures, he said. “Massive reliance on AI can lead to concentration risks, particularly when a small number of technology players dominate the market. This could amplify systemic risks as failures or disruptions…