Author: nripn

THE Economic survey called for the need to plug regulatory gaps in the financial technology sector and align with global best practices. The survey also highlighted that it was important for digital lenders to move toward data-driven lending rather than judgment-based lending.“There is a need for ongoing review to identify regulatory gaps or overlaps and compare them to global best practices,” the survey notes. “In the medium term, efforts should be made to move towards data-driven lending rather than judgment-based lending, particularly for small businesses. »The survey also indicates that an approach should be developed for common user data, such…

Welcome to TechCrunch Fintech! This week, we look at Revolut’s announced valuation hike, fintech unicorns, the Disrupt Fintech scene, 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 Revolut reportedly informed its staff last week of its intention to sell up to $500 million of existing shares at a valuation of $45 billion, according to the Financial Times. This is notable because, if true, it would make the banking giant the most valuable startup in Europe. The valuation also marks a…

Today we’re joined by Bill Borden, Corporate Vice President, Global Financial Services at Microsoft, and Suzanne Dann, CEO Americas at Wipro. Together, they discuss their collaboration on leveraging Azure OpenAI to improve generative AI in finance. This partnership focuses on improving customer experience, streamlining processes and ensuring responsible AI practices in the financial industry. As Suzanne says: “My role is to help clients digitally transform by bringing together the right industry expertise, technology and integration experience. » Bill adds: “Our goal at Microsoft is to create products and services that truly meet the unique needs of financial institutions. » We’ll…

Channel Insider content and product recommendations are editorially independent. We may earn money when you click on links to our partners. Learn more. The creator of communications data and intelligence platform Smarsh and hyperscaler giant AWS have entered into a new five-year agreement that strengthens their initial partnership and commits to bringing automation and innovation to the sector financial services. The Smarsh platform is now equipped with GenAI capabilities and features intended to meet compliance and regulatory needs The Smarsh platform ingests communications data across an organization’s technology to scan for and detect potential threats to the security of that…

THE Reserve Bank of India (RBI) would like to adopt a “hands-off” approach to regulating FinTech. At the same time, the central bank expects these companies to follow rules on customer verification and data protection, the RBI executive director said. P.Vasudevan said Friday, February 16, Bloomberg reported Friday. According to the report, “no tougher measures are planned regarding FinTech,” Vasudevan said. Vasudevan is head of law enforcement at RBI, the report said. Other RBI officials also said the regulator wants the FinTech sector to thrive, the report said. This news follows reports of measures taken by the RBI in recent…

Care.fi, a health-focused fintech startup, has raised Rs 8 crore in debt funding led by two key investors. Wint Wealth provided Rs 5 crore, while Caspian invested Rs 3 crore in impact debt capital. The fundraise comes three months after the startup raised Rs 5 crore from UC Inclusive Credit. Before this, it had raised Rs 16 crore from Trifecta Capital. Improve operations With this capital, the Gurugram-based startup will focus on improving its operations and expanding its market presence, further supporting hospitals, healthcare providers and related suppliers. A significant portion of the funds will be dedicated to optimizing hospital…

By Supantha Mukherjee and Anna TongSTOCKHOLM/SAN FRANCISCO (Reuters) – In the early years, getting AI models like ChatGPT or rival Cohere to spit out human-like responses required large teams of low-cost workers to help the models distinguish between basic facts, for example whether an image was of an object. a car or a carrot.But more sophisticated updates to AI models in a fiercely competitive field now require a rapidly expanding network of human trainers with specialized knowledge — from historians to scientists, some with Ph.D.s.“A year ago, we could hire undergraduates to simply teach AI how to improve,” Ivan Zhang,…

September 27, 2024September 27, 2024 Care.fi, an innovative healthcare-focused fintech startup, aims to offer smart financial solutions to the healthcare industry. It recently secured INR 8 crore in debt financing, with INR 5 crore from Wint Wealth (Ambium Finserve) and INR 3 crore in impact debt financing from Caspian. This investment will support the company’s goal of creating India’s first healthcare-focused small finance bank, a vision the company looks forward to realizing. Sidak Singh, co-founder of Care.fi, mentioned that the company has seen significant growth since its inception and this funding will help expand…

As artificial intelligence (AI) becomes more integrated into bankingTHE financial sector is on the cusp of a major change. The adoption of AI tools could redefine not only operational strategies, but also the essence of customer interactions. Amid growing consumer frustration with traditional banking services, the question arises: can AI improve the retail banking experience? A PYMNTS Information report, “Is AI the key to the next banking era?», in collaboration with RNC Voyixexplores the potential impact of AI on the future of banking. The promise of AI in banking The potential of AI to revolutionize the financial sector is evident…

Free newsletterReceive the latest Swiss Fintech news once a month in your inboxInnovation mentors support SMEs by carrying out an initial analysis of their innovative idea and helping them understand their potential and find research partners.They are very familiar with the innovation support offers in Switzerland and can help their clients implement and develop their idea.Mentors also facilitate access for Swiss SMEs to the skills and technologies available at Swiss universities and colleges. Thanks to their extensive network, they allow SMEs to find partners to carry out innovation projects.To exercise the profession of mentor, the following qualities are essential:Be able…