FinTech

Japanese technology investor, SoftBank, has offloaded another 2% stake in Noida-headquartered digital payments major Paytm in a series of open market transactions over the last month. A SoftBank entity, SVF Holdings (Cayman) Ltd has sold a total of 12.7 million equity shares, between December 19, 2023 and January 24, this year, the company informed the exchanges. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine…

American fintech firm Quinte Financial Technologies on Tuesday said it has entered into a collaborative partnership with the Tamil Nadu government to establish development centers in tier II towns within the state.It will tap into high-end talent in Artificial Intelligence (AI), Machine Learning (ML), automation, and banking and finance expertise.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIIT DelhiIITD Certificate Programme in…

Brex, the fintech startup that made a splash with corporate credit cards and moved into cash management accounts for tech companies, has cut its staff by 20%. Some 282 people were laid off Tuesday amid reports of heavy cash burns in the final three months of last year.It was just under a year ago that Brex saw a huge influx of customers and deposits, as Silicon Valley Bank collapsed. As the panic over that bank’s implosion spread, Brex saw billions of dollars pour in and over 4,000 new customers sign up, thanks to its…

Harnessing AI to boost productivity will top the U.K.’s tech agenda in 2024, as the country’s IT industry and startups try to regain lost momentum, while tech job hunters will have to adapt to a changing market, according to predictions from industry experts. Here are tech predictions for the U.K. in 2024. AI will bring the U.K. opportunities and risks The U.K.’s AI strategy is clear: The government sees artificial intelligence as a key way to boost productivity and the sluggish economy, even as it acknowledges…

AI to dominate fintech for next five years, WEF study reveals; Blockchain emerges as key tool to tackle bias in AI training; Voice AI startup ElevenLabs attains unicorn status with $1.1 billion valuation in latest funding round; EY survey unveils Gen AI's impact on Indian retail transformation- this and more in our daily roundup. Let us take a look.1. AI to dominate fintech for next five years, WEF study revealsAI is poised to lead fintech development over the next five years, with 70% of respondents in a World Economic…

Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at a fintech being sold in a fire sale, a group of startup raises, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. PT, subscribe here. The big story The saga continues. In mid-May, TC’s Manish Singh reported that founders of ZestMoney had resigned from the startup. The Indian fintech, whose ability to underwrite small…

Hi, this is Pratik Bhakta in Bengaluru.A crop of tech-first stockbrokers is not only leading from the front in adding new customers, they’re also generating strong revenues and profits— a theme we at ETtech have been capturing through our in-depth coverage of this segment. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups. Also read | New-age brokers ride on futures…

But for employers and employees alike, setting up plans and contributions has often been painful and confusing, says Kevin Busque, founder and CEO of retirement plan provider Guideline. Busque, who previously cofounded Taskrabbit, says he became interested in the 401(k) industry after being dissatisfied with the options available for his employees there. A provider available through Taskrabbit’s payroll company delivered dry presentations and a slew of paper forms to employees, many of whom simply never bothered to sign…

Business-to-business (B2B) ecommerce platform Udaan has taken a major hit with its valuation being chopped by nearly half to $1.8 billion in a down round. This and more in today’s ETtech Morning Dispatch.Also in this letter:■ AI retooling weighs on SaaS firms■ Rs 10,000 crore likely for quantum computing hubs■ Aakash Institute’s FY22 numbersUdaan valuation dives to $1.8 billion in down round Vaibhav Gupta, CEO, UdaanB2B ecommerce platform Udaan has seen a significant fall in valuation during its recently-concluded…

The Reserve Bank of India has issued a draft framework for self-regulatory organisations focused on the fintech sector (SRO-FT).The main idea behind the guidelines is to empower the fledgling sector to function and innovate responsibly even in the absence of formal regulations.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Senior Management ProgrammeVisitIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in…