Author: nripn

WASHINGTON (AP) — The artificial intelligence The industry has been on a lobbying spree in recent years, deploying dozens of hired influencers to help shape potential government action.This growth is not surprising. The technology is being rapidly adopted by powerful industries – healthcare, defense, financial services – all hoping to have a say in any future regulations.As AI evolves at a rapid pace, lawmakers are relying on the expertise of lobbyists as think tanks, nonprofit groups and academia struggle to keep up with minute-to-minute technological changes.Relying on PowerPoint slides and briefing papers, AI industry lobbyists spend a lot of time…

Eke Uru, founder of Rise and Eric Asuma, founder of Hisa and The Kenyan Wall StreetRise, a Nigerian global investment startup, has made its second acquisition in less than a year after taking control Hisaa Kenyan startup that makes stock trading easier. The acquisition gives Rise the opportunity to operate in the Kenyan market without obtaining new licenses as Hisa is already approved by the regulator. Hisa will retain its brand name, management and staff to enable seamless operations as the acquired company is familiar with the specificities of the local market.Former Hisa CEO Eric Jackson will now assume the…

AMD (AMD) President and CEO Doctor Lisa Su says his company is just beginning to commercialize high-powered AI chips.“We’ve accelerated our AI roadmap and are on a one-year cadence for new product launches,” Su told Yahoo Finance at the Goldman Sachs Communacopia & Technology conference on Monday. “This is an AI supercycle.”Later this year, AMD will introduce its MI325 AI chip, followed by the MI350 next year and the MI400 in 2026, taking aim at rival Nvidia (NVDA) domination.Su added: “We think we can have a very important part of the training and inference of these large language models.”The new…

Elsewhere, Intellias Pavlo Khropatyy expects increased focus on cybersecurity in 2024, increased adoption of mobile payments and the use of gamification to drive customer engagement.Cybersecurity“Fraud in the fintech sector represents a major challenge for businesses, leading to massive economic losses. Machine learning offers a promising solution to combat financial fraud. “By analyzing huge datasets of simultaneous transactions in real time, machine learning algorithms can identify patterns that indicate fraudulent activity. “The advantage of using machine learning is its ability to continuously learn from results and update models, minimizing the need for human intervention to detect fraudulent behavior. “For example, Danske…

Senegalese startup Rubyx has secured a €400,000 ($440,000) loan from French development finance institution Proparco to accelerate the rollout of its new algorithmic lending offering for startups and microfinance institutions on the continent. Ruby has developed a cloud-native, API-driven digital lending platform that enables service providers to rapidly launch innovative lending products and meet evolving borrower expectations. The €400,000 ($440,000) loan granted to the startup is part of the Bridge by Digital, supported by Digital Africa and deployed by Proparco, which allows innovative African companies to benefit from bridging financing of up to 24 months to accelerate their development between…

Dive summary: Fidelity National Information Services, also known as FIS, said in a press release Tuesday that it will continue to support fintech startups through an accelerator program, selecting nine companies that it believes will disrupt the financial services industry. The Jacksonville, Florida-based company selected nine startups to participate in the ninth annual program, including the New York-based company. Business data analytics company Spade; Blooma, a real estate finance software company based in Encinitas, Calif.; and a banking compliance software company based in Austin, Texas RiskScoutamong others. “This year’s cohort is focused on reshaping the financial sector, and we look…

The startup specializing in accounting, bookkeeping and finance focused on SMEs Finally has raised $50 million in a Series B funding round and secured a $150 million credit line, TechCrunch was the first to report. The funding comes just seven months after the fintech company announced it had raised $10 million in fundingand brings the total raised by Miami-based Finally since its inception in 2018 to $305 million in debt ($235 million in credit facilities) and equity ($74 million). Felix Rodriguez was inspired to create Finally after seeing his Dominican-born family start their own businesses in the United States. He…

Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) — The “Saudi Arabia Fintech Market Size and Share Analysis – Growth Trends and Forecast (2023-2028)” the report has been added to ResearchAndMarkets.com’s offer.The Fintech market size in Saudi Arabia is expected to grow from USD 39.04 million in 2023 to USD 69.23 million in 2028, at a CAGR of 12.14% during the forecast period (2023-2028). The Covid-19 pandemic and associated health measures have significantly changed customer behavior. As people seek to reduce physical contact, the demand for contactless payment services has increased significantly in 2020. Saudi Arabia is the largest market in the…

Artificial intelligence and real-time data are poised to disrupt financial services operations, according to a new industry study. researchconducted by ActiveOps, found that 81-84% of operations leaders believe that real-time data enabled by AI would significantly improve key areas such as customer experience, employee engagement, operational performance and decision-making. As institutions grapple with outdated systems and data challenges, this widespread optimism signals a potential turning point for the sector. The financial services industry has long recognized the importance of data-driven decision-making. However, the ActiveOps study, which surveyed more than 850 COOs, CFOs and COOs across seven countries, reveals a stark…

Increased regulatory requirements and standards in the fintech sector have led to an increased need for senior professionals who can lead companies towards growth while complying with the rules.Rajiv Krishnan, MD and CEO of Ma Foi Strategic Consultants, says regulations and compliance standards are becoming more stringent in the industry, as is the scrutiny from regulators. As some players move closer to listing on stock exchanges, the scrutiny is becoming more stringent. With markets and technology evolving rapidly, boards are looking for members who have been part of this ecosystem and understand it well.Early-stage startups are also strengthening their regulatory…