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Financetech

All articles tagged with #financetech

financetech1 year ago

"Nvidia's Soaring Stock Price Sparks Investor Warning: Beware of Disruption, Says Market Sage"

Nvidia's stock price has surged to over $788, prompting market sage Rob Arnott to caution investors that disruptors like Nvidia are often disrupted, citing historical examples of early leaders being overtaken by second movers with better strategies. Arnott believes that Nvidia's current market cap is too high relative to its earnings and warns that the company is priced for perfection, leaving no room for shocks. Jack Ciesielski, another financial commentator, echoes Arnott's concerns and points out that Nvidia faces competition from other tech giants in the AI space, suggesting that the company's success may attract a wave of competitors that could ultimately lead to its decline.

via Fortune|
#artificial-intelligence#disruptors#financetech
financetech1 year ago

"Startup Funding Roundup: Fintech, E-commerce, and Health Platforms Secure Millions"

Y Combinator-backed fintech startup Pluto Markets has raised $2.6 million in fresh funds, securing an EU investment license as it aims to disrupt the retail trading market in Europe. The Copenhagen-based company, founded in 2021, offers brokerage services across the Nordics and plans to focus on non-Euro markets. Unlike its peers, Pluto secured an EU-wide investment license before raising significant capital, emphasizing a lean approach. The funding will be used to expand the team and scale operations in the Nordics before targeting other non-Euro markets.

via Business Insider|
#eu-license#financetech#fintech
financetech1 year ago

"Tether-Led $25M Series A Fuels Oobit's Crypto Payment Expansion"

Oobit, a mobile payments app, has raised $25 million in a Series A funding round led by Tether's investment arm, CMCC Global’s Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko. The app allows consumers to pay for purchases using crypto while merchants receive fiat currency, and it plans to open up the capability to third-party wallets, transitioning into a non-custodial crypto payments app. Oobit joins other crypto firms working with traditional finance companies to offer more efficient ways of using crypto holdings for payments.

via CoinDesk|
#crypto-payments#financetech#non-custodial-app
financetech1 year ago

"Revolut Surpasses Wise in Banking App Provider Ranking"

In the latest PYMNTS Provider Ranking of Digital Banking Apps, Revolut maintains its top position with a perfect score, while Wise holds steady at No. 2. Acorns and Ally are making upward moves, while Empower and Albert are slipping down the rankings. Chime and MoneyLion round out the top five, with other notable shifts in the top 10 positions.

via PYMNTS.com|
#digital-banking-apps#financetech#provider-rankings
financetech1 year ago

"Rising Fraud Threat: Cash Apps Under Fire for Draining Bank Accounts"

The Better Business Bureau warns that payment apps like Venmo, Zelle, and Cash App are leaving users vulnerable to fraud, with criminals exploiting the accessibility of these apps to steal money. Users are advised to be cautious about who they pay and the amount of the transaction, to use strong passwords on their phones, and to watch out for red flags such as requests for quick debt payments or assistance through payment apps, which are likely scams.

via WTVG|
#bbb#cash-app#financetech
financetech1 year ago

"Rising Fraud Threat: Securing Your Payment Apps Against Vulnerabilities"

Payment fraud incidents have surged, leading to consumer skepticism towards payment apps aggregating and connecting payment information. Concerns about data breaches and vulnerability to fraud are widespread, with 45% of consumers fearing data breaches and 34% feeling more vulnerable to fraud. Financial institutions are witnessing an increase in fraud cases and losses, prompting them to enhance preventive measures using artificial intelligence and machine learning. The adoption of AI solutions has led to a decline in overall fraud rates, highlighting the effectiveness of this technology in preventing fraud.

via PYMNTS.com|
#artificial-intelligence#cybersecurity#data-breaches
financetech2 years ago

Elon Musk's X: Revolutionizing Finance, Predicting Banks' Replacement

Elon Musk's X, formerly known as Twitter, aims to become a central financial hub, offering a comprehensive platform that covers all aspects of users' financial lives and potentially eliminating the need for traditional bank accounts. Musk envisions X as a versatile app, with plans to introduce new features by the end of 2024. He is taking a hands-on approach, overseeing feature development and strategizing premium offerings. X is also seen as a potential competitor to platforms like YouTube, LinkedIn, and Cision PR Newswire, with plans to introduce a news wire service named XWire. The platform has made progress in terms of product development, including Community Notes, Audio and Video Calling, and a $1 payment feature. Musk has also announced the possibility of live-streaming company discussions.

via Cointelegraph|
#competition#elon-musk#financetech