Author: nripn

Diving brief: Microsoft is expanding its collection of tools to automate business functions like the CFO’s office with the launch of new artificial intelligence “agents” capable of learning and performing certain tasks autonomously, the software giant announced Monday. software. The company is introducing 10 new autonomous agents, including two aimed at financial professionals, into its Microsoft Dynamics 365 enterprise resource planning platform, according to a Monday blog post written by Bryan Goode, corporate vice president at Microsoft. Pricing and licensing details will be shared once the new agents enter the “public preview” phase later this year, a spokesperson said by…

SUMMARY NPCI said the approval would be contingent on the fintech startup complying with all NPCI guidelines and circulars on risk management, branding guidelines, among others. It is pertinent to note that Paytm was hit by the Reserve Bank of India (RBI) restrictions on its payments banking arm in January this year. Subsequently, Paytm roped in Axis Bank, Yes Bank, SBI and HDFC Bank as payment service provider (PSP) banks to offer UPI services. In a major development, the fintech giant Pay said it has received approval from the National Payments Corporation of India (NPCI) to onboard new Unified Payments…

CALGARY, AB, Oct. 22, 2024 (GLOBE NEWSWIRE) — Libra, Canada’s oldest and largest digital asset custodian, has received approval from the Alberta Treasury and Finance Board (ATBF) to register Balance Trust Company, its wholly owned Calgary-based corporation. trust subsidiary. The approval is further supported by a $10 million investment in the trust by Balance, to achieve qualified custodian status in Canada and the United States to serve financial services and fintech companies in the Alberta’s entire regulatory landscape. The expansion, supported by Invest Alberta, highlights Alberta’s growing role in digital asset management and innovation, with a commitment to hiring in…

The global gathering of policy, finance and technology The Singapore FinTech Festival is the global gathering of policy, finance and technology communities, taking place from 6-8 November 2024. Designed to foster impactful connections and collaborations, SFF is a platform to explore the intersections of financial solutions from cutting edge, regulatory landscape developments and the latest technological innovations. This year, SFF will examine the transformative potential of artificial intelligence, quantum computing and digital assets to shape financial services and deliver sustainable and inclusive economic growth. Through informative sessions, panel discussions, workshops, exhibitions and more, SFF is an immersive discovery and dialogue…

By Anna Tong and Krystal Hu Mira Murati, former chief technology officer at OpenAI, is raising money from venture capital firms for her new AI startup, according to people familiar with the matter. The new company aims to create AI products based on proprietary models, said one of the sources who requested anonymity to discuss private matters. It is unclear whether Murati will take on the role of CEO of the new company. A representative for Murati declined to comment. Although negotiations are in their early stages, Murati’s new venture could raise more than $100 million given its reputation and…

These pillars represent correlations and not causes. Past performance does not necessarily predict future success. Of course, if there was an exact formula, Keith Rabois exclaims“An investor’s job would probably be easy.” However, there is no harm in studying the actions, products and execution of founders who have navigated the intellectual labyrinth to unicorn status, generational enterprise and beyond. What are the pillars of a Fintech unicorn? Founders who build transparent, long-term relationships with each other and with their investors. Startups that have a robust technology stack. Fintech developers who take inspiration and build on other products. Learn more about…

Just months after closing one of the biggest deals of her career, Stephanie Ferris, CEO of Fidelity National Information Serviceshas a message for everyone: FIS is not over. Ferris and the company she runs are looking to get back into buying. In February, the FIS closed the sale from a majority stake in WorldPay to GTCR, a Chicago buyout firm. The transaction helped FIS reduce its total debt, which had reached approximately $19.1 billion at the end of 2023, to around $10 billion once the sale is finalized. As of March 31, FIS’s debt stood at $11.2 billion, while its…

Akuaa payment processing platform based in Latin America, managed to secure an initial investment of $4.3 million.Propel led the funding round, with additional contributions from Plug and Play, HTwenty, RallyCap, Flourish Ventures and ICventures. The investment round also included high-impact angel investors with previous roles at companies like Mastercard, dLocal, Jeeves and Nubank.Akua sets a new standard in the region by developing the first “as a service” acquisition processor platform. This platform is cloud-native, highly secure, operates in real-time and integrates AI to streamline operations for financial institutions and merchants in Latin America.The funding will be used to launch Akua’s…

(Bloomberg) — Artificial intelligence research company Perplexity AI has begun fundraising talks in which it aims to more than double its valuation to $8 billion or more, the Wall Street Journal reported Sunday. Most read on Bloomberg Perplexity has told investors it hopes to raise about $500 million in the new funding round, the Journal said, citing people familiar with the matter. Conditions could change and funding may not come together, the newspaper said. SoftBank Group Corp.’s Vision Fund 2 invested in Perplexity earlier this year at a valuation of $3 billion. The company has launched a series of revenue-sharing…

The fintech revolution is advancing at an unprecedented pace, reshaping the global financial landscape. Innovations such as digital payments, blockchain, AI, machine learning and decentralized finance (DeFi) are transforming financial services, making them more efficient, accessible and user-friendly. However, this progress presents significant regulatory challenges that must be addressed to ensure a stable and secure financial ecosystem. The rise of Fintech Fintech has grown from a niche sector to a major player in global finance, disrupting traditional banking with digital payment platforms, mobile banking and peer-to-peer lending. However, regulatory issues related to fintech’s rapid growth could hamper its progress if…