Breaking News—nripn—October 19, 2024

Bill Harris (left) is the founder and CEO of Evergreen Money. “If you took all the checking accounts in the country and paid 5 percent on them,” he said, “that would be an additional $103 billion in revenue in people’s pockets.”Tony Avelar/Bloomberg Disastrous bankruptcy of middleware provider Synapse Financial affects consumers who were unable to

AI in Finance—nripn—October 19, 2024

Here's what to take away from today's Morning Brief, which you can register to receive every morning in your mailbox accompanied by: Nuclear power is poised for a renaissance in the United States, driven by big tech's seemingly insatiable need for electricity to power AI-generating data centers. Three recent headlines have highlighted this point: Microsoft

Startup News—nripn—October 18, 2024

SUMMARY 8i Ventures completed a successful exit from M2P Fintech, achieving 12X ROI over 4.5 years and generating 126% of its debut fund's corpus with just 10% of its capital. The company's initial investment of INR 9.7 Cr in M2P Fintech, which specializes in API infrastructure for financial services, resulted in a return of INR

Breaking News—nripn—October 18, 2024

(Bloomberg) - The head of ION Corporates, one of the main units of ION Group, has left the company, the latest in a series of high-profile leadership changes at the helm of the financial data provider. Rich Grossi was replaced as general manager of the Enterprise division by Sunil Biswas, who was previously product director

Startup News—nripn—October 18, 2024

Pan-African fintech startup Yellow Card has raised US$33 million in Series C funding to drive its global expansion and strategic initiatives, bringing its total equity funding to US$85 million. Since its launch in Nigeria in 2019, Yellow card has become the largest and first licensed Stablecoin on/off ramp on the African continent. It has operations

Startup News—nripn—October 18, 2024

CapWay, a Y Combinator-backed fintech that sought to bring financial services to people living in so-called banking deserts, has been shut down, according to its founder Sheena Allen. Allen wrote about this on LinkedIn and confirmed to TechCrunch. “I am proud of the work we were able to accomplish, but honestly disappointed that we were

AI in Finance—nripn—October 18, 2024

(Reuters) - Nvidia shares hit a record high amid a rally in U.S. chip stocks on Thursday after strong sales forecasts from industry barometer TSMC bolstered expectations Investor optimism about demand for processors used to power artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker, raised its expectations for annual revenue growth

Startup News—nripn—October 18, 2024

Payment technology company Stripe Inc. is reportedly in talks to acquire fintech startup Bridge Ventures Inc. for $1 billion. According to ForbesThe acquisition negotiations, which are still under discussion and subject to either party withdrawing, would constitute the largest deal made by Stripe to date. Some of the sources cited by Forbes also note that

AI in Finance—nripn—October 18, 2024

The UK's financial watchdog is launching an AI Lab to bring together technology companies, academics and regulators to better understand the present and future impact of technology on financial services. Announced in a speech by Jessica Rusu, Head of Data, Information and Intelligence at the Financial Conduct Authority (FCA), the AI ​​Lab will support the

Market Insights—nripn—October 18, 2024

In a joint statement, the Federal Deposit Insurance Corp., the Federal Reserve and the Office of the Comptroller of the Currency warned that end users could "reasonably" confuse certain "nonbank third parties" with FDIC-insured banks.Bloomberg WASHINGTON — Federal banking regulators on Thursday issued a joint warning — as well as a request for information about

AI in Finance—nripn—October 18, 2024

Credit: Pixabay/CC0 Public domain When it comes to investing and planning your financial future, are you more willing to trust a person or a computer? This is no longer a hypothetical question. Major banks and investment firms are using artificial intelligence (AI) to make financial forecasts and advise their clients. Morgan Stanley uses AI to

Market Rumors—nripn—October 18, 2024

Nothing motivates us like a big M&A buzz, and history has shown that where there's smoke, there's often fire – but that's not always the case. Last week the big rumor involved Salesforce acquires Informatica in a deal amounting to somewhere between $6.5 billion in 2018 MuleSoft offer and the 15.7 billion dollars Painting Acquisition