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Technology Innovations—nripn—September 25, 2024
AI innovations are now closely intertwined with most fintech operations. AI and Fintech share an element of innovation, meaning that Fintech and AI have a complex and multifaceted relationship that impacts various aspects of financial service delivery and drives efficiency for Fintech operators. According to htfmarketintelligence.com, the artificial intelligence (AI) market size in banking is
AI in Finance—nripn—September 25, 2024
AI-powered financial data platform Bud Financial has launched an AI agent that can perform tasks on behalf of customers, such as transferring money between accounts to avoid unnecessary overdrafts. Unlike AI agents that simply respond to prompts, an agentic model can perform many tasks and learn from its experiences. In this case, it will take
Regulatory Updates—nripn—September 25, 2024
By Najiyya Budaly (September 24, 2024, 1:06 PM BST) - Nasdaq and Deutsche Boerse said on Tuesday they were among financial services companies being investigated by the European Commission for alleged breaches of EU competition laws in derivatives trading…. Law360 is here, so you are too. A Law360 subscription puts you at the heart of
Startup News—nripn—September 25, 2024
In the latest example of an Indian fintech startup seek strategic partnerships Along with traditional banking institutions, neobank Jupiter is in talks to acquire a stake in SBM Bank India, three sources familiar with the matter told TechCrunch. Jupiter, backed by Tiger Global and Nubankis in talks to buy a 5% to 9.9% stake in
AI in Finance—nripn—September 25, 2024
Artificial intelligence can help auto lenders streamline compliance while making operations more efficient. Here are two ways lenders are using AI to improve their operations: 1. Combat human error Subprime auto lender based in Santa Ana, California Veros Credit studies how to use AI-based programs to improve compliance across the organization and reduce human error,
Regulatory Updates—nripn—September 25, 2024
HSBC has backed calls for tech firms to help cover the cost of fraud, saying new compensation rules will not be enough to stop scams. The Payment Systems Regulator (PSR) is set to make reimbursement of up to £85,000 mandatory from 7 October, with most firms failing to sign up to or consistently apply a
Startup News—nripn—September 25, 2024
M-KOPA has announced that it has reached the 5 million customer mark in Kenya, Uganda, Nigeria, Ghana and South Africa. Two million of these customers have joined the network in the last 15 months. M-KOPA's innovative model brings affordable smartphones with integrated financial services to "everyday earners": the vast majority of African adults who earn
AI in Finance—nripn—September 25, 2024
(Bloomberg) - An Israeli regulator has cleared an artificial intelligence startup to launch a chatbot that offers stock-picking advice in partnership with a major bank, even as other governments have sounded alarms that AI could destabilize financial markets if it were widely used in investing. Tel Aviv-based Bridgewise got the green light from the Israel
Regulatory Updates—nripn—September 25, 2024
The European Commission is carrying out surprise inspections at the premises of financial services companies in two Member States. The Commission is concerned that the inspected companies may have violated EU antitrust rules prohibiting restrictive business practices (Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the Agreement
Breaking News—nripn—September 25, 2024
On Tuesday, Citi upgraded its rating on shares of UP Fintech Holding Ltd. (NASDAQ: TIGR), cutting the price target to $5.00 from $6.49 previously while maintaining a Buy rating on the stock. This adjustment follows UP Fintech's second quarter non-GAAP net income report, which showed a significant decline both quarterly and year-over-year, coming in at
AI in Finance—nripn—September 25, 2024
Vultr has just released the latest iteration of its AI Maturity Report, “Unleashing the power of AI in financial services," which covers the impacts of AI implementation in the financial services industry and how organizations can overcome industry challenges to get the most out of their AI deployment. The latest Derivatives Report reveals that financial
Regulatory Updates—nripn—September 25, 2024
By Gloria Methri September 23, 2024 Payments to businesses Cash flow FinTech A new fair payment code, new rules on business reporting and a major consultation have been unveiled as part of a package of measures to tackle late payments. The scourge of late payments costs SMEs £22,000 a year and causes 56 million hours
