Author: nripn

PB Fintechowner of Policybazaar and Paisabazaar, is considering moving away from taking majority stakes when acquiring companies following the departure of the founder of MyLoanCare, which it bought in 2021. PB Fintech will now focus on minority investments, with exceptions for strategically critical transactions, co-founder Yashish Dahiya said. “In hindsight, the mistake we made was to take too much of a stake. We took 70% of the shares. That’s a weak point for us. The right percentage would have been 22% to 30%. Because if you go over 50%, it’s not really the founder’s company anymore,” Dahiya said on an…

By Martin CoulterLONDON (Reuters) – The world’s biggest technology companies have launched a final push to persuade the European Union to take a light-touch approach to regulating artificial intelligence as they seek to avoid the risk of billions of dollars in fines.EU lawmakers approved the AI ​​Act in May, the world’s first comprehensive set of rules governing the technology, after months of intense negotiations between different political groups.But until the codes of practice accompanying the law are finalised, it remains unclear how strictly the rules around “general purpose” AI (GPAI) systems, such as OpenAI’s ChatGPT, will be enforced and how…

(Reuters) – BlackRock and Microsoft plan to launch a fund worth more than $30 billion to invest in artificial intelligence infrastructure to build data centers and energy projects, the companies said on Tuesday.AI models, especially those used for deep learning and large-scale data processing, require significant computing power, which results in higher energy consumption.The computing demands of AI have forced tech companies to cluster thousands of chips together to get the necessary amount of data processing power, driving up demand for these specialized data centers.The investment vehicle, known as the Global AI Infrastructure Investment Partnership, aims to help improve AI…

Limerick City has been selected by North American Bancard as the ideal site for a new R&D centre of excellence. US fintech company North American Bancard (NAB) today (10 June) announced the creation of 54 jobs in Limerick city at a new R&D centre of excellence. The new center will be responsible for developing the company’s portfolio of risk management products and services, with a focus on solving the global problem of payments fraud. NAB, headquartered in Michigan, is looking to hire a variety of skilled professionals, such as product managers, architects, scrum masters, UX designers, front-end developers, back-end developers,…

Mexican fintech startup History closed a new financing round worth $212 million, in a mix of equity and debt financing that includes Goldman Sachs Group Inc.to stimulate investment and expansion into other markets. Of the total, $105 million was in equity led by Notable Capital, BAI Capital and existing investors, and $107 million was in debt led by Goldman Sachs and Davidson Kempner Capital Management LPCo-founder and Director of Governance Marlene Garayzar said in an interview.

(Bloomberg) — BlackRock Inc. and Microsoft Corp. are teaming up in one of the largest efforts yet to fund the construction of data warehouses and energy infrastructure that are driving the rise of artificial intelligence.Bloomberg’s most read articlesThe companies, along with UAE investment vehicle MGX, will seek $30 billion of private capital over time for the strategy, which will then leverage money for up to $100 billion in potential investments, the companies said Tuesday.“Building data centers globally is a multi-trillion dollar investment,” BlackRock CEO Larry Fink said in an interview, adding that the Global AI Infrastructure Investment Partnership has been…

When KCB Bank Group Chief Operating Officer Samuel Makome presented former President Uhuru Kenyatta with KCB Group’s various technological innovations at the official opening of Afro Asia Fintech Festival held at the Kenya School of Monetary Studies. (File, Standard) East Africa has long been considered a beacon of innovation in the global fintech landscape. The region’s rise has been fueled by the same major disruptions that are reshaping the financial services industry around the world, such as the use of alternative data, peer-to-peer transactions and the rise of non-traditional financial players. But what truly sets East Africa apart is its…

Influencers are increasingly providing personal finance advice on social media, including Instagram, TikTok and other platforms. The general public is also increasingly relying on AI to answer their personal finance questions.Founder and Wealth Advisor of Mitlin Financial Lawrence Sprung joined Robert ‘Bob’ Powell on Deciphering retirement to discuss disinformation in the digital age and whether or not it has become a problem for the general public.’Finfluencer’ (decoded)An “influencer” is a combination of the words “finance” and “influencer.” It describes people who operate social media platforms—like Instagram, TikTok, and YouTube—to share tips and information about personal finance, investing, budgeting, and other…

Stay informed with free updatesSimply sign up for the Financial and market regulation myFT Digest – delivered straight to your inbox.The insurance industry’s use of artificial intelligence could make some people “uninsurable”, the head of Britain’s financial regulator has warned, while calling on the sector to be more “willing to experiment” with new technologies. “We want safe and responsible use of AI “It is essential to stimulate beneficial innovation,” Nikhil Rathi, chief executive of the Financial Conduct Authority, said in a speech on Thursday. “But also to have an open discussion about the risks and trade-offs.”Citing the example of “hyper-personalization…

Date Name Sector Sub-sector Business model Amount of the financing round Type of funding cycle Investors Lead Investor September 20, 2024 Physics Wallah Educational technologies Test Preparation B2C $210 million Series B Hornbill Capital, Lightspeed Venture Partners, GSV, WestBridge The hornbill capital September 18, 2024 Redcliffe Laboratories Health technologies Health services B2C $42 million C Series IFU, LeapFrog Investments, HealthQuad and Spark Growth Ventures Instructions for use September 17, 2024 iBUS Enterprisetech Horizontal SaaS B2B $34 million – SFI SFI September 19, 2024 The Everest Fleet Travel Technology Transportation technology B2B-B2C $30 million C Series Uber Uber September 20, 2024…