Author: nripn

July 19, 2024 Written by FinTech Alliance in Financial Technology Coast, a fintech startup known for its innovative fleet and expense management solutions, secured $40 million in its latest funding round. This new influx of capital comes just four months after the company raised $25 million, underscoring investor confidence in Coast’s growth and business model. The funding round was led by Accel, with participation from existing investors Insight Partners and Greycroft. Coast plans to use the funds to improve its platform, expand its team and accelerate its market presence, with the aim of revolutionizing the fleet management industry with more…

Visa Takes on Financial Crime: Acquires Specialized AI Fraud Feature Space, Bolstering Payment SecurityVisa Inc. (NYSE:V) shares are trading higher on Thursday. The company signed an agreement to acquire Feature space for an undisclosed amount.Featurespace is a developer of real-time AI payment protection technology that addresses fraud and financial crime risks.This acquisition is expected to strengthen Visa’s portfolio of fraud detection and risk assessment solutions, helping customers around the world grow and protect their businesses.The partnership between Visa and Featurespace is expected to enable customers to manage fraud in real-time and strengthen the payments ecosystem with AI-powered solutions.Read also: Visa…

Between September 23 and September 28, 2024, until 19 startups from various sectors have raised more than $366 million in funding from investors. These sectors include Fintech, AI, Lifestyle, Fashion, Healthcare, Food, Proptech, Personal Care and Biotechnology. Last week, Indian startups have raised over $470 million in funding, PhysicsWallah led by Alakh Pandey having raised $210 million alone. Great Value Offers A wide range of sectors attracted investment during the week, with the SaaS sector leading the pack. Leading this sector was Whatfix, which raised $125 million in a Series E funding round. AI healthcare startup Qure.ai has raised $65…

(Bloomberg) — BlackRock Inc. sees huge growth opportunities in Asia for infrastructure to support an artificial intelligence boom that is also driving demand for energy and water.Most read on Bloomberg“The need for data centers over the next five years will be double what currently exists in the markets,” Brad Kim, head of diversified infrastructure for Asia Pacific at BlackRock, said in a briefing on Wednesday. press. “Water infrastructure will need to almost double over the next five years,” he said, referring to cooling mechanisms, “and overall energy consumption will increase by about 50% over the next 10 years in the…

(Bloomberg) — Micron Technology Inc. will likely become the latest chipmaker to assure investors that demand for AI-related equipment is still strong. Like many of its peers, it can also admit that other core demand areas, such as PCs and smartphones, remain in the doldrums.Most read on BloombergThe company is expected to report after the market close, and analysts expect strong growth from its high-bandwidth memory chips, used in processing artificial intelligence data. Positive comments on AI demand could revive AI chip trading, which has stagnated after mixed reports from Broadcom Inc. and Nvidia Corp.Their forecasts disappointed discerning investors, much…

(Reuters) – Britain’s competition regulator said on Friday that Amazon’s artificial intelligence partnership with startup Anthropic would not be further investigated because it did not fall within its remit.The Competition and Markets Authority said the partnership, which includes a $4 billion investment by Amazon in Anthropic, was not eligible for investigation under UK merger regulations.“We welcome the UK Competition and Markets Authority’s (CMA) decision recognizing its lack of jurisdiction over this collaboration,” an Amazon spokesperson said in response to the regulator’s decision.The regulator also authorized a similar collaboration between Microsoft and Inflection AI.However, the partnership between Alphabet and Anthropic is…

Free newsletter Get the latest Fintech Singapore news delivered to your inbox once a month The Monetary Authority of Singapore (MAS), in collaboration with the Institute of Banking and Finance (IBF) and Workforce Singapore (WSG), has launched the Sustainable Finance Jobs Transformation Map (JTM). This initiative outlines the skills updates needed for the local financial services sector due to growing sustainability trends. MAS has identified 20 unique job positions as high priority for skills development. Key roles include relationship managers in corporate banking, who will require knowledge of sectoral decarbonization pathways and sustainable finance instruments to better identify and explain…

Here are the takeaways from today’s Morning Brief, which you can register to receive every morning in your mailbox accompanied by:The still-young history of generative AI is littered with grand predictions that it would be a transformative technology.But in recent months, skepticism has set in. The darling of generative AI, Nvidia, has bumped intounable to regain the record reached in June. The New York Times profiled Goldman Sachs’ resident AI skeptic, Research Director Jim Covello.Enter consulting giant Bain & Company and a big new forecast: “The market for AI-related hardware and software is expected to grow between 40% and 55%…

Free newsletter Get the latest Fintech Singapore news delivered to your inbox once a month Despite financing challenges and complex market conditions, the fintech sector in India continues to grow and evolve, with several emerging fintech trends in India poised to shape the future of the sector. These trends include ecosystem banking, generative artificial intelligence (GenAI) and embedded finance, according to a new report by PwC India and ASSOCHAM. The report, title “Fintech – Powering India’s $5 Trillion Economy by Driving Innovation, Enabling Inclusion and Building a Sustainable Future,” provides an overview of the current state of fintech trends in…

Intel has delivered its latest data center processor and AI accelerator, demonstrating that it can deliver essential products to customers while battling historic financial setbacks that cloud its future. This week, Intel released its Gaudi 3 AI accelerator and top-performing Xeon 6 processor to server makers for delivery to customers. Intel provided product details in June and brought them to market on time. The product shipments came several days after reports that Qualcomm had approached Intel to propose a friendly takeover and that Apollo Global Management had offered to make an equity investment of up to $5 billion in the…