Author: nripn

We are incredibly excited to announce the final agenda of our Fintech Stage at TechCrunch Disrupt 2024. He joins Space, SaaSAI and Builders like other industry-focused scenes, all under one big roof. As the fintech industry evolves, new opportunities abound for founders, investors and customers. Areas such as mobile banking, global payroll, digital payments, embedded finance and cryptocurrencies will only grow in the coming years. In the United States too, open banking continues to gain ground. At Disrupt’s Fintech Internship, hear from industry leaders about the challenges they’ve faced so far and the opportunities that lie ahead. See the final…

How can businesses take advantage of the opportunities offered by AI to increase revenue, contribute to the development of new products and improve customer loyalty? Our latest Streamly interview features Chris Brown, President of Intelygenzwhich shares strategies for businesses to effectively implement AI. In this interview, conducted by Julie Muhn, Principal Research Analyst at Finovate, Brown talks about Intelygenz’s engagement models that quickly generate measurable ROI. Brown also discusses Intelygenz’s Day Zero promise, successful use cases in financial services, and explains what are the indicators of success when it comes to AI projects. “Actually, I think there are some things…

Scoringa nine-year-old fintech company that helped consumers manage and pay off credit card debt has closed, according to the company. In a LinkedIn post which was shared earlier Monday, founder and CEO Jason Brown said the “sad and difficult” decision to close Tally was not the outcome the company had “hoped for,” but that “after exploring all options,” she was “unable to obtain the financing necessary to continue our operations. According to PitchBook, Tally was last valued at $855 million and had 183 employees. Tally’s model was initially designed to help people manage their credit cards and pay off high-interest…

SUMMARY True Balance, which provides loans, will use the funds to further expand its operations. Last month, VentureSoul marked the first close of its debut fund, whose target corpus is INR 600 Cr, to around INR 145 Cr. The fintech startup is operated by Balancehero India, a wholly-owned subsidiary of Korean company Balancehero Co. Ltd. Marking the first deployment of its first venture debt fund, VentureSoul Partners has provided INR 20 Cr debt to tech startup True Balance. The startup will use the funds to further expand its operations, the venture debt firm said in a LinkedIn post. Last month,…

The collapse and bankruptcy of fintech BaaS Synapse revealed how dangerous things are for the often interdependent world of fintech when a key player runs into trouble. Synapse operated a service that allowed others (mainly fintechs) to integrate banking services into their offerings. For example, a software provider specializing in payroll for 1,099 outsourcing-heavy companies used Synapse to provide instant payment functionality; others have used it to offer specialized credit/debit cards. The San Francisco-based startup has raised a total of just over $50 million in venture capital over its lifetime, including one in 2019. $33 million Series B raise directed…

Workers at pension fund Cbus Super have secured a landmark package of provisions to protect employees from disruption in the age of artificial intelligence.In the new enterprise agreement, now in force until June 2027, the union-affiliated fund must consult staff on the implications of generative AI models such as ChatGPT in the workplace and must inform workers whose roles are “materially affected” by AI.Financial Sector Union national assistant secretary Nicole McPherson touted the agreement, which covers some 700 employees, as a new “benchmark” for Australia’s financial sector.“When it comes to AI, there are unprecedented protections in the industry… with an…

Starting a merchant bank Mercuryfounded in 2017, is now launching a consumer banking product. Mercury today serves more than 100,000 businesses, many of which are startups, through its B2B practice. The expansion is a natural move for the company and has been in the works for a few years, according to Immad Akhund, co-founder and CEO of Mercury. “We already have a few hundred thousand users of our business banking product, and a lot of people have expressed a desire for a personal banking product,” he told TechCrunch in an interview. Although there are many neobanks, many of them “focus…

The State of European Fintech 2024 report has been released and the UK is doing really well as a leader in the region. The report shows UK funding for the finch increased by 3%, taking its value to £2.2bn, a big increase from £1.9bn in the first half of the year last. There does, however, appear to be a general decline in fintech funding in Europe. Aman Ghei, partner at Finch Capital, said: “The challenges fintech faced in 2023 were necessary for the sector to mature and become more sustainable. Even though funding is down overall and the hunt for…

Welcome to TechCrunch Fintech! This week, we look at Stripe’s easy acquisition, the role fintech played in Clio’s latest raise, the latest with digital banking startup Mercury, and 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 Payments giant Band made its third acquisition in the last 14 months and at least the 15th overall over its lifespan, TechCrunch exclusively reported. Band picked up Lemon Squeezy for 13 peoplea merchant of record that calculates and pays global sales tax on digital products,…

(Bloomberg) — Samsung Electronics Co. is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce global workforces by thousands of jobs, according to people familiar with the matter .Most read on BloombergThe layoffs could affect about 10% of the workforce in those markets, although the numbers for each subsidiary may vary, said one of the people, who asked not to be named because the matter is private. Job cuts are planned in other foreign subsidiaries and could reach 10% in certain markets, the source said.The South Korean company employs about 147,000 people…