Fintech Weekly | Issue 49

AI data startup Databricks received $500 million in financing with a valuation of 43 billion

Recently, artificial intelligence enhanced data analysis company Databricks announced a $500 million financing, with multiple institutions including Nvidia and Capital One Ventures participating. The platform's valuation exceeded $43 billion.

 

Information link:

https://techcrunch.com/2023/09/14/databricks-raises-500m-more-boosting-valuation-to-43b-despite-late-stage-gloom/

Comment: Databricks was founded in 2013 and is headquartered in San Francisco. Currently, it has accumulated over $4 billion in financing. Users can view structured and unstructured data in one location through its tools and products, without the need to move between different systems.

 

Santander Bank promises to invest 67 million euros to support Spanish startups

This week, Banco Santander announced that it will launch a complete set of products and services to support innovative and scalable Spanish startups with growth potential (with at least one round of financing).

 

Information link:

https://seekingalpha.com/news/4012942-banco-santander-realigns-structure-across-five-global-businesses

Comment: It is reported that this collaboration also includes associations at all levels, innovation centers, incubators, and investors, with an estimated 7000 startups benefiting.

 

Feiruite Obtains Angel Round Financing from Northern Lights Venture Capital

Chengdu Feiruite Technology Co., Ltd. (hereinafter referred to as "Feiruite"), a manufacturer of optoelectronic crystal materials and components, has recently completed angel round financing with the investor being Northern Aurora Venture Capital. This round of financing funds will be used for production line construction and new product research and development.

 

Information link:

https://www.trjcn.com/tg/brand2023_360.html?trackid=ads:3601:ss:C24:C252:pc29334944&qhclickid=465c8177912abf0c

Comment: Feiruite was founded in June 2023 and incubated by the State Key Laboratory of Electronic Thin Film and Integrated Devices of University of Electronic Science and Technology of China, focusing on crystal materials and related components for integrated magnetic optical electrical signal processing. The R&D personnel of Feiruite account for over 60%, with CEO Zhang Ding serving as a doctoral candidate at the University of Electronic Science and Technology. The core team includes multiple technical experts including Changjiang Scholars.

 

Archie, a financial technology accelerator, officially established for the Middle East and UK markets

Recently, Archie, a financial technology accelerator institution, was officially established. It plans to provide capital and professional knowledge support to early startups in the Australian, British, and Middle Eastern financial technology markets who have completed rounds A and B of financing, defining and leading the next generation of financial technology leaders.

 

Information link:

https://archiegrowth.com/

Comment: Archie stated that she will adhere to the "equity first" model, ensure a true partnership with fintech founders, coordinate all interests, and focus on promoting success.

Sompo collaborates with Israeli start-up companies to develop medical diagnostic tools based on artificial intelligence

Japanese commercial insurance provider Sompo has established a partnership with Israeli telemedicine startup TytoCare to launch artificial intelligence based telemedicine devices for elderly care services.

 

Information link:

https://www.timesofisrael.com/sompo-taps-israeli-telehealth-startup-for-medical-diagnosis-of-the-elderly-in-japan/

Comment: According to the Israeli Times, according to a recent commercial partnership agreement with Sompo's digital division Light Vortex, TytoCare will integrate its remote medical examination products into nursing homes and elderly care markets across Japan. This collaboration was carried out after TytoCare's products received regulatory approval from the Japan Medical Devices Agency (PMDA).

 

Mobiiar Launches Mobi ChatGPT

Swiss insurance company Die Mobile is launching Mobi ChatGPT, a chat robot designed specifically for company employees based on OpenAI services.

 

Information link:

https://coverager.com/mobiliar-introduces-mobi-chatgpt/

Comment: According to the announcement, Mobi ChatGPT can create, edit, or summarize text, as well as provide ideas and answer questions. Based on 90 suggestions submitted by employees within a few weeks, the insurance company plans to launch more applications.

 

Insurance Verification Solution Enterprise Evident Launches Generative Artificial Intelligence Solution

Insurance verification solution enterprise Evident has launched a generative artificial intelligence solution Evie for risk management personnel to simplify the insurance verification process.

 

Information link:

https://www.prnewswire.com/news-releases/evident-announces-evie-the-worlds-only-generative-ai-solution-for-insurance-risk-management-301921216.html

Comment: For risk managers, Evie offers a range of benefits, including fast access to critical data and leveraging Evident solutions to fully unleash its potential for immediate guidance. In addition, business partners can actively interact with Evie, receiving personalized guidance at every step without the risk manager personally handling every interaction.

ABAX, Eir, and Greater Than innovate car insurance through data links

ABAX is a leading enterprise in the field of remote information processing in Europe, dedicated to innovation that seamlessly integrates technology with the automotive industry. The strength of Greater Than lies in its ability to determine the probability of driver collisions, assess environmental impacts, and provide a detailed perspective on road safety and ecological management.

 

Information link:

https://www.prnewswire.com/news-releases/abax-combines-forces-with-eir-and-greater-than-to-revolutionize-motor-insurance-301927811.html

Comment: In the field of digital insurance, Eir has emerged as a pioneer, leading the industry towards a more interconnected, responsive, and modern era.

Citigroup will provide digital custody services for the blockchain bond exchange BBX

Recently, Citi Securities Service announced a partnership with the BondbloX Bond Exchange (BBX). BBX was founded in 2020, formerly known as Bondevalue, and is a distributed ledger (DLT) based platform known as the world's first sporadic bond exchange.

 

Information link:

https://www.citigroup.com/global/news/press-release/2023/citi-to-become-first-digital-custodian-on-bondblox-bond-exchange

 

Kazakhstan establishes regulatory agencies to lead the development and implementation of digital Tenge

On September 15, 2023, the National Bank of the Republic of Kazakhstan (NBK) announced the establishment of an independent entity to lead the development and implementation of its central bank's Digital Currency (CBDC) - the Digital Tenge. According to this official statement, this National Payment Company (NPC) will be established on the basis of the former Kazakhstan Interbank Payment Center, responsible for overseeing the country's national payment system (including interbank clearing services, transfers, and digital identity recognition), as well as the development of the "digital financial infrastructure" (including the implementation of the digital tenge).

 

Information link:

https://digitalpoundfoundation.com/digital-tenge-nbks-latest-updates-on-kazakhstans-cbdc-project-september-2023/

 

JPMorgan plans to provide online salary services to compete with Square and PayPal

According to reports, JPMorgan Chase is planning to collaborate with financial technology company Gusto to provide digital payroll processing services to increase its appeal to small business customers. As one of the largest banks in the United States with assets, JPMorgan Chase has invested billions of dollars in the technology sector in the past few years, actively striving to better serve its 5 million small business customers and over 200000 payment solution users.

 

Information link:

https://www.bankingdive.com/news/jpmorgan-gusto-embedded-payroll-services-fintech/694269/

 

HSBC plans to invest $1 billion in climate technology startups

Recently, HSBC announced plans to provide $1 billion in financing to global climate technology startups to support solutions such as electric vehicle charging, sustainable food and agriculture, and carbon removal technology. Not long ago, HSBC Innovation Bank and its asset management department just launched a climate technology venture capital strategy.

 

Information link:

https://wam.ae/zh-CN/details/1395303199779#: ~: t

32 countries including the United States have launched the "Atlantic Partnership for Cooperation", emphasizing sustainable development and regional cooperation in the field of science and technology

On September 18th, the US State Department issued a statement stating that 32 countries including the United States have launched the "Atlantic Partnership", bringing together Atlantic coastal countries from Africa, Europe, North America, South America, and the Caribbean to seek joint solutions and uphold the common principles of Atlantic cooperation.

 

Information link:

https://www.jiemian.com/article/10119986.html

 

The British Prime Minister will deliver a speech or announce the postponement of key green transformation measures such as the ban on the sale of new fuel vehicles

On September 20th, Downing Street confirmed that British Prime Minister Sunac will deliver a speech at 4:30 pm local time on the 20th. It is predicted that Sunac will announce a "significant adjustment" to the UK's net zero emissions strategy, including delaying the effective date of the ban on new fuel vehicle sales from 2030 to 2035.

 

Information link:

https://www.caixin.com/2023-09-22/102111403.html

 

Report on Earth Big Data Supporting Sustainable Development Goals (2023) released

In order to accelerate the implementation of the United Nations 2030 Agenda for Sustainable Development and promote the implementation of global development initiatives through technological innovation, the "Earth Big Data Supporting Sustainable Development Goals Report (2023)" was officially released by China during the United Nations 2023 Sustainable Development Goals Summit and the high-level meeting on the display of global development initiative cooperation results.

 

Information link:

https://www.gov.cn/yaowen/liebiao/202309/content_6905556.htm

 

The 2023 Sustainable Development Goals Summit will be held in New York from September 18th to 19th

The 2023 Sustainable Development Goals Summit will be held in New York from September 18th to 19th, 2023. It will mark the beginning of a new phase of accelerating the achievement of sustainable development goals and provide high-level political guidance for change and accelerated actions before 2030. The summit was convened by the President of the General Assembly, marking that the deadline for achieving the 2030 Agenda and Sustainable Development Goals has passed.

 

Information link:

https://www.un.org/zh/high-level-week-2023#: ~:

9 EU countries call for strengthening cooperation in the field of artificial intelligence

On September 20, 2023, ministers responsible for the digital economy from nine EU member states in the Mediterranean region held a ministerial meeting in Ataland, Malta to discuss addressing the challenges posed by artificial intelligence and calling for strengthened cooperation in the field of artificial intelligence.

 

Information link:

https://m.gmw.cn/2023-09/21/content_1303521026.htm

 

UK Parliament approves the Cybersecurity Act

On September 19, 2023, the UK Parliament passed the draft Online Safety Bill. It is worth noting that the Act specifically emphasizes the protection of underage users.

 

Information link:

https://www.gov.uk/government/news/britain-makes-internet-safer-as-online-safety-bill-finished-and-ready-to-become-law

 

UK formulates AI regulatory principles and plans to seek opinions from companies such as Microsoft and Google

On September 18, 2023, the UK Competition and Market Authority (CMA) announced seven new principles for regulating artificial intelligence (AI) on Monday to protect consumers and guide the market. The seven principles governing artificial intelligence include accountability, accessibility, diversity, choice, flexibility, fair dealing, and transparency.

 

Information link:

https://www.gov.uk/government/news/proposed-principles-to-guide-competitive-ai-markets-and-protect-consumers

 

CFPB releases an article emphasizing the role of large technology companies in mobile payments

On September 7, 2023, the Consumer Financial Protection Agency (CFPB) released a new focus article titled "Big Tech's Role in Contactless Payments: Analysis of Mobile Device Operating Systems and Tap to Pay Practices".

 

Information link:

https://www.pymnts.com/news/mobile-payments/2023/apple-google-come-under-fire-for-their-tap-to-pay-walled-gardens/#: ~: text=This% 2C% 20as% 20the% 20US.% 20Consumer% 20Financial% 20Protection% 20Bureau, and% 20decentralized% 20banking% 20and% 20payments% 20in% 20the% 20US

The Cayman Islands will establish an office in Singapore for the first time

According to a report by the Financial Times on September 15th, the Cayman Islands Financial Services Department, a globally renowned offshore financial center, announced that it will open an Asian office in Singapore by the end of this year. On the 15th, the Minister of Financial Services of the Cayman Islands, Andr é Ebanks, stated that the new office would help the Cayman Islands "better utilize the numerous new business opportunities provided by the Asian region".

 

Information link:

https://www.guancha.cn/internation/2023_09_16_708825.shtml?s=zwyzxw

 

Citibank Private Bank: Top 4 Investment Categories for Home Offices in the Asia Pacific Region in the Next 12 Months

Citigroup Private Bank released a 2023 global family office survey report, stating that in the face of market fluctuations, family offices worldwide and in the Asia Pacific region are now more focused on wealth and investment management, and expect investment portfolios to bring returns in the coming year.

 

Information link:

https://www.businesswire.com/news/home/20210927005472/zh-CN

 

Replacement of legal representatives in the offices of the four major families of the Zhongzhi family

Since the four major wealth management companies in the "Zhongzhi Series" stopped cashing out their financial products this year, not only have the legal representatives of state-owned companies undergone intensive changes, but the related risks are still continuously exposed. According to public information, the Tang Shengshi (Qingdao) family office and the Qingdao Honghu Baishi family office are respectively family owned companies under Tang Wealth and Xinhu Wealth. As of now, the legal representatives of the family offices under the "Zhongzhi Series" four major wealth companies have all been changed.

 

Information link:

https://finance.sina.com.cn/wm/2023-09-13/doc-imzmqtuw3352473.shtml

 

First case of non notarized inheritance complete online business review completed

The Chaoyang District Real Estate Registration Center in Beijing has completed the city's first comprehensive online business review of non notarized inheritance, opening up the entire online processing path for non notarized inheritance.

 

Information link:

https://ghzrzyw.beijing.gov.cn/zhengwuxinxi/gzdt/cy/202308/t20230811_3220861.html

Under the AI craze, PayPal's Venmo will launch the US dollar stable currency PYUSD

It is reported that Venmo, a social payment platform under PayPal, will launch the PayPal US dollar stable currency PYUSD. PayPal stated in a press release that its ERC-20 stable currency will be available for purchase in the "coming weeks", and users will be able to purchase PYUSD through PayPal, Venmo, or compatible external wallets and send it to others.

 

Information link:

https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd

 

Reuters: The UK has invited China to participate in the November Global Artificial Intelligence Security Summit

According to reports, the UK has invited China to participate in the Global Artificial Intelligence (AI) Security Summit held in November. The UK Minister for Foreign Affairs and Development, Cleverley, stated that if one of the leading participants in AI technology is absent, the risks of this technology will not be controlled.

 

Information link:

https://news.sina.com.cn/c/2023-09-20/doc-imzniunk4063432.shtml?cre=tianyi&tr=181

 

Microsoft AI team accidentally leaked a large amount of data, including over 30000 pieces of internal information

The latest research by cloud security company Wiz shows that Microsoft's (MSFT. O) artificial intelligence research team accidentally leaked a large amount of private data cache on the software development platform GitHub. When the team released open-source training data, a link configuration error resulted in data leakage.

 

Information link:

https://www.ithome.com/0/719/963.htm

 

Only four of Europe's top unicorn companies have achieved profitability, with significant financial technology advantages

Recently, venture capital media Sifted released a list of the 20 most valuable unicorn startups in Europe. Among the 20 selected startups this year, only Revolut, Zepz, Lendable, and SumUp confirmed their annual profits. The report points out that companies that have not yet achieved profitability are increasing investors' attention to their growth potential by expanding their services, products, and market scope.

 

Information link:

https://www.weiyangx.com/429307.html

 

 

Disclaimer: The content is from the Internet, WeChat official account and other public channels. We are neutral about the points in the article. This article is only for reference and exchange.