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Financial News
Medium
14h
123
The 8 Fintech Metrics Early-Stage VCs Scrutinize Before Funding Your Startup
- Metrics play a crucial role in securing early-stage funding for fintech startups.
- The article highlights the eight key metrics that every fintech startup should present to capture the attention of venture capitalists.
- In addition to metrics, storytelling with data is emphasized as a way to create a compelling narrative.
- The article advises college student entrepreneurs to embrace data-driven decision making and use metrics to continuously iterate and improve.
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7 Likes
Medium
14h
61
The Fintech Tightrope: Balancing Innovation with Security in the Age of AI
- Fintech startups are revolutionizing the way we manage our money, but they face challenges like compliance, fraud, and risk.
- Artificial intelligence (AI) can be a game changer for Fintech companies in addressing these challenges.
- However, ethical considerations regarding AI need to be addressed.
- Creating a secure Fintech environment requires a multi-pronged approach including collaboration with regulators and prioritizing trust.
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3 Likes
Fintechnews
14h
287
Image Credit: Fintechnews
Ping An Tech Leader Eugene Huang Joins DBS Group as CIO
- DBS Group has appointed Eugene Huang as its new Chief Information Officer (CIO), effective from 10 May 2024.
- Huang brings more than three decades of experience in the technology and banking sectors and will report directly to CEO Piyush Gupta.
- He will succeed Han Kwee Juan, who has been serving as Acting CIO and will now focus on his role as Singapore Country Head.
- Huang previously held various roles at Ping An Group and played a key role in the public listing of OneConnect Financial Technology.
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17 Likes
TechCrunch
14h
454
Image Credit: TechCrunch
UK challenger bank Monzo nabs another $190M as US expansion beckons
- UK challenger bank Monzo has raised another $190 million as it looks to expand internationally, particularly in the U.S.
- This funding round comes just two months after Monzo raised $425 million, bringing their total funding in 2024 to over $610 million.
- Existing investors, including Alphabet's CapitalG and Google's GV, along with new backer Hedosophia, participated in the funding round.
- Monzo, with over 9 million customers in the UK, aims to leverage its strong financial position to crack the U.S. market.
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The Fintech Times
14h
320
Image Credit: The Fintech Times
SmartStream Implements SaaS Solution at AYA Bank, to Tackle Transaction Volume Surge
- SmartStream has implemented its TLM reconciliations premium digital payments control solution at AYA Bank.
- The solution aims to handle the surge in transaction volumes at AYA Bank.
- It will streamline various tasks including reconciliations, settlement, fee computation, and dispute resolution.
- The solution leverages AI capabilities to enhance transaction transparency and automate accounting processes.
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19 Likes
Pymnts
14h
653
Image Credit: Pymnts
Bain Capital Explores $6 Billion Deal for PowerSchool
- Private equity firm Bain Capital is in discussions to purchase education-software provider PowerSchool.
- The proposed $6 billion deal would take PowerSchool private.
- PowerSchool, based in California, offers cloud-based software for K-12 education.
- Private equity-led buyouts are experiencing a resurgence, with firms considering acquisitions and stepping up efforts to compete with banks on low-interest loans.
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17 Likes
Fintechnews
15h
113
Image Credit: Fintechnews
UK and Singapore Discuss Green Finance Gaps, Digital Asset Regulation
- The UK and Singapore held their 9th financial dialogue to deepen cooperation in sustainable finance and fintech.
- The dialogue focused on sustainable finance, fintech innovation, non-bank financial intermediation, and cross-border payment connectivity.
- Both countries reaffirmed their commitment to finance projects aligned with the net zero agenda and enhance disclosure standards.
- Discussions included regulatory frameworks for AI, cryptoassets, and the potential development of a digital pound.
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6 Likes
Pymnts
15h
47
Image Credit: Pymnts
Porch Reports Unique Data Improves Underwriting, Boosts Results
- Porch Group has improved its underwriting of homeowners insurance and boosted its results.
- During the first quarter, the company reduced its GAAP net loss to $13.4 million and improved its adjusted EBITDA loss to $16.8 million.
- The company attributes these improvements to the unique data provided by its software-as-a-service (SaaS) products.
- Porch uses this unique data, called 'Home Factors,' to predict and price risk more accurately and reduce exposure.
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2 Likes
Pymnts
16h
333
Image Credit: Pymnts
Sen. Roger Marshall Presses for Credit Card Competition Act Vote
- U.S. Sen. Roger Marshall, R-Kan., is pushing for a vote on the Credit Card Competition Act by adding it to the FAA Reauthorization bill.
- Marshall introduced the proposal due to Senate leadership blocking the bill for two years.
- The Credit Card Competition Act would mandate banks to enable card payments to be routed over competing networks alongside Mastercard and Visa.
- Supporters argue the bill would provide merchants with more choices, while opponents claim it won't lower interchange fees for merchants or benefit consumers.
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20 Likes
Pymnts
16h
150
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Fed Governor Lisa Cook Highlights Private Credit as Emerging Issue
- Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit, and cyber risks as potential issues.
- The commercial real estate (CRE) sector is experiencing the effects of the pandemic and changes in living, shopping, and working habits.
- Private credit, including direct loans made to businesses by nonbank entities, is considered an emerging vulnerability.
- Cyber risks, including cyberattacks by criminal groups and hostile governments, were also emphasized as a potential threat.
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9 Likes
Pymnts
17h
172
Image Credit: Pymnts
Earnings Season Shows Consumers Using BNPL More Often for Clothes and Travel
- Earnings season shows mixed consumer spending with some pullbacks by lower-income households and slower use of revolving debt.
- Buy now, pay later (BNPL) providers are experiencing significant growth, especially in clothing and travel categories.
- Around 37% of consumers have used BNPL, with the percentage increasing as income bracket goes higher. 79% of consumers had a favorable experience with BNPL.
- BNPL providers, including Block, Affirm, and Sezzle, have reported strong earnings growth, indicating increasing adoption of BNPL services.
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10 Likes
TechBullion
17h
338
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BlockDAG’s Remarkable $23.9 Million Presale Success and Dominating Presence on YouTube Over NEAR Protocol & Aptos
- BlockDAG, a cryptocurrency platform, gains attention and success through its dominant presence on YouTube influencers and social media.
- NEAR Protocol shows resilience while trading below its 100-day average, indicating a possible rebound.
- Aptos faces volatility and struggles to break through resistance levels, making investors cautious.
- BlockDAG's presale raises $23.9 million, showcasing its advanced mining technology and potential for high ROI.
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20 Likes
Pymnts
17h
316
Image Credit: Pymnts
Corpay Streamlined Its Name, Sets Eyes on Streamlining Corporate Payments
- Corpay, formerly known as FLEETCOR Technologies, has rebranded to streamline its name.
- Corpay aims to build a narrower, simpler company that can be managed and expanded.
- The company serves over 800,000 business customers globally, processing $145 billion annually.
- Corpay issued a downward guidance for Q2 2024 and full year due to unfavorable foreign exchange and higher interest rates.
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19 Likes
Pymnts
18h
258
Image Credit: Pymnts
UK’s FCA Defends Proposal to Disclose Companies Under Investigation
- The UK's Financial Conduct Authority (FCA) is facing criticism for its proposal to publicly disclose companies under investigation.
- Despite the backlash, the FCA remains committed to enhancing transparency and deterring wrongdoing.
- Critics argue that early disclosure risks unfairness and contradicts the FCA's duty to promote international competitiveness.
- The FCA plans to consider feedback and develop criteria for disclosure before implementing the proposal.
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15 Likes
Pymnts
19h
262
Image Credit: Pymnts
Instacart: Grocery Shoppers Ditch Merchants That Don’t Offer Smart Carts
- Instacart is seeing the impact of in-store technologies on grocery shoppers' spending and loyalty.
- Merchants using Instacart's Caper Cart smart self-checkout shopping carts are attracting new shoppers who seek out stores with the technology.
- The smart carts not only enable skipping checkout but also provide personalized and delightful shopping experiences through digital screens.
- Instacart aims to enhance personalization by offering real-time offers based on location, basket contents, and personal preferences.
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