FinTech Weekly | Issue 71

Pulsate financing of $7.75 million

A company providing marketing services to banks announced a Series A financing of $7.75 million, led by TruStage Ventures and Curql Collective. Pulsate is headquartered in Ireland and provides mobile personalized interactive solutions for financial institutions. At present, they have reached cooperation with more than 270 credit cooperatives and community banks, reaching 20 million consumers.

 

Information link:

https://www.morningstar.com/news/business-wire/...

 

Comment: Credit union members have a high demand for digital banking user experience and require digital customization tools to meet daily interactions. Pulsate's vision is to change the way financial institutions establish connections with consumers in the digital field.

 

Artificial intelligence company Qloo raises $25 million to enter the insurance market

Qloo, an artificial intelligence company founded 12 years ago, received $25 million in Series C financing to enhance its AI insight engine, which can analyze global consumer behavior without the need for personal data. At present, they have helped well-known brands such as Netflix and Samsung understand customer consumption preferences.

 

Information link:

Www.adexchanger.com/ai/qloo snags-25 million in series c-funding to unravel the system

Comment: Qloo has always been at the forefront of integrating cultural knowledge with advanced artificial intelligence technology, creating a reliable source of factual data for analyzing consumer preferences and the world.

 

Workplace security solution provider Intenseye raises $64 million in funding

This New York based startup was founded in 2018 and utilizes existing cameras in the facility to identify safety issues that may cause harm and illness. Intenseye's solution is being used at thousands of sites in over 25 countries, aimed at protecting over 100000 workers. The startup company collaborated with an insurance company and partnered with AXA XL in 2021 to provide services to insurance clients.

Information link:

https://gpte.ai/intenseye-raises-64-million-in-series-b-investment-round

Comment: Intenseye has also partnered with Sumitomo, The Hartford, and USI.

Verisk Investment Network Risk Monitoring Platform KYND

Verisk has invested in KYND, a network risk monitoring platform service provider, aimed at providing real-time and continuous insights into the network risk status of various organizations. KYND was founded in 2018 and is headquartered in the UK. The disclosed financing amount is currently $6 million, and Business Growth Fund has also participated in this round of financing. Last year, KYND entered the US market.

  

Information link:

lhttps://www.verisksequel.com/news/kynd-investment

Comment: Verisk helps customers cope with risks related to network events, thereby enhancing the global insurance industry's risk resilience, while KYND not only reduces the complexity of tool usage, but also improves the ability to identify, monitor, and remedy risks, helping to make quick decisions.

Fixle, a housing maintenance and management technology company, announced its launch

Fixle, a technology company that simplifies house maintenance and management, announced the official incubation and launch of American Family Insurance, an insurance company. Fixle was founded in 2022 and collects and obtains housing information through the platform, simplifying the use, maintenance, and repair process of consumer housing systems and appliances. Their end-to-end solutions can provide valuable information in a timely manner, creating value for property managers, property inspectors, technical service personnel, warranty insurers, insurance valuation companies, homeowners, and partners.

 

Information link

https://www.prnewswire.com/news-releases/fixle-inc...

Comment: In the future, they will continue to provide excellent customer experience, expand their user base, develop products, and raise funds.

 

Universal Insurance Program chooses to collaborate with INSTANDA's digital platform

UIP, an insurance management agency based in Phoenix, announced a partnership with INSTANDA in London to simplify submission and online quotation processes, accelerate product launch, and provide insurance and services for sunbathing salons, spa centers, and automated storage facilities. INSTANDA states that its codeless insurance technology helps UIP update products in real-time and embed third-party technology to simplify processes and improve the consumer experience for brokers and policyholders.

 

Information link:

https://instanda.com/us/news/universal-insurance...

Comment: UIP will utilize INSTANDA's digital platform to optimize the insurance economy platform, adding functions such as obtaining quotes, financial services, and invoicing.

 

Retirement guidance and planning company Retirable announces partnership with eHealth in the online health insurance consumer market

Retirement guidance and planning entrepreneurial enterprise Retirable announced the establishment of a partnership with eHealth in the online health insurance consumer market. This collaboration aims to provide comprehensive support for the elderly by combining professional knowledge in retirement planning with customized medical insurance and health insurance solutions.

  

Information link:

https://retirable.com/partners/ehealth

Comment: Retirable was founded in 2019 with the aim of providing services for future retirees, helping older adults make wiser decisions, and improving financial health.

 

Fuwei Group Expands Collaboration with Microsoft

Fuwei Group is expanding its partnership with Microsoft, signing a four-year agreement to provide the latest generative artificial intelligence innovation while continuing to support Fuwei's cloud priority technology strategy. This insurance company, which operates in multiple Asian countries, plans to leverage Microsoft's Azure OpenAI services and other enterprise level innovations to drive its generative artificial intelligence program.

 

Information link:

0xzx.com/2024022618564141350.com

Comment: Fuwei Group started its journey of artificial intelligence in 2019 and currently applies nearly 200 active artificial intelligence models in its business, with over 600 use cases.

OTP Bank and Iliad Solutions establish a partnership to promote financial technology progress

OTP Bank Hungary serves as the parent company. On the other hand, Iliad Solutions stands out as a leader in payment testing solutions, providing its flagship enterprise level, browser based digital payment testing platform t3. The core goal of the partnership is to license Iliad Solutions t3 around OTP Bank, a cutting-edge platform aimed at enhancing bank payment capabilities and consolidating its position as a leading financial institution. This cooperation emphasizes the shared determination of both parties to promote innovation and efficiency in digital payments.

 

Information link:

https://www.iliad-solutions.com/news/otp-bank...

 

Empowering lenders: Integrating Scientific AI with CRIF Select to provide advanced credit decision-making services

As a leading global provider of AI driven credit approval platforms, Scienaptic AI has announced integration with CRIF Select, a leading provider of indirect loan solutions. Through this integration, CRIF Select users can seamlessly access Scienaptic's advanced AI driver signals for credit approval. Their indirect loan projects connect credit cooperatives with dealers of cars, RVs, motorcycles, boats, tractors, and leases, making the process for users as simple as possible. This integration seamlessly integrates Scienaptic's AI technology into the CRIF Select platform, enabling lenders to make intelligent, data-driven decisions.

 

Information link:

I https://www.scienaptic.ai/news/empowering-lenders...

Clearwater Credit Union selects Distribute to simplify the process of opening digital accounts and initiating loans

Clearwater Credit Union, located in Montana, USA, has chosen California based fintech company Distribute to help improve its digital account entry experience, simplify loan initiation processes, and reduce operational costs through automation. The new partnership will see credit cooperatives utilizing the Consumer Loan Initiation, Consumer Account Opening, and Commercial Account Opening modules of the Cotribute.

 

Information link:

https://www.cuinsight.com/press-release/clearwater...

  

Indonesian fintech company Wagely manufactures banks while helping those without bank accounts

Wagely, a fintech company from Indonesia, is known for earning wages: it is a way for workers in Southeast Asian countries to receive advance payments on wages without resorting to higher interest loans. Currently, 500000 people are using the platform, and this startup has expanded its business to a broader "financial health" platform. To further drive this effort, the company has raised $23 million.

 

Information link:

https://techcrunch.com/2024/03/03/wag

Starting from fiscal year 2025, Singaporean listed companies are required to disclose climate related information

On February 28th, Singapore's Minister of Transport and Second Minister of Finance, Hsu Fong tat, announced during a debate on the Ministry of Finance's expenditure budget in the National Appropriations Committee that starting from fiscal year 2025, all locally listed companies must disclose climate related information and report in accordance with the standards set by the International Sustainability Standards Board (ISSB).

 

Information link:

https://www.nbd.com.cn/articles/2024-03-01/3263092.html ）

 

EU legislators agree to establish a carbon removal certification system

The European Parliament and Council have reached a temporary agreement on a new regulation to establish a carbon removal certification framework, including quantification, monitoring, and certification. The agreement aims to increase the use of carbon removal while addressing the issue of greenwashing and promoting technological development. This is an important step in promoting comprehensive carbon removal and soil emission reduction frameworks in EU legislation.

 

Information link:

https://www.esgtoday.com/eu-lawmakers-agree-to-establish-carbon-removal-certification-system/ ）

The 6th United Nations Environment Conference (UNEA-6) closed in Nairobi, the capital of Kenya

On March 1, 2024, the Sixth Session of the United Nations Environment Assembly concluded at the headquarters of the United Nations Environment Programme (UNEP) in Nairobi, the capital of Kenya. This meeting will last for one week from February 26th to March 1st, 2024. The theme of the conference is "Taking effective, inclusive, and sustainable multilateral actions to address climate change, biodiversity loss, and pollution".

 

Information link:

https://www.unep.org/environmentassembly/unea6

Malaysia initiates a consultation on the adoption of IFRS sustainability reporting standards

The Malaysian Securities Commission announced that its Advisory Committee on Sustainability Reporting (ACSR) has initiated a solicitation of opinions on the proposed adoption of the International Financial Reporting Standards Board (ISSB) of the International Financial Reporting Standards Foundation (IFRS Foundation) as the basis for mandatory reporting requirements for listed and large corporations. This consultation is an initiative following the launch of the ACSR by the Malaysian Securities Commission last year, aimed at promoting the inclusion of ISSB standards in Malaysia's new National Sustainability Reporting Framework (NSRF), while identifying and supporting other elements of NSRF, including safeguard frameworks and capacity building.

 

Information link:

Www.casc.org.cn/2024/0301/252462. shtml

Former New York Fed Economist: The Fed may cut interest rates less than three times in 24 years

Former New York Federal Reserve Bank economist Steven Friedman said that given strong economic growth and inflation volatility, Federal Reserve decision-makers will remain cautious about interest rate cuts this year, with the possibility of even fewer cuts than the official expectation of three.

 

Information link:

https://finance.sina.com.cn/money/forex/forexinfo/...

The highest financial regulatory agency in the United States says it is closely monitoring the commercial real estate exposure of banks

The highest financial regulatory agency in the United States has stated that it is closely monitoring the impact of the struggling commercial real estate market on the financial system. The Financial Stability Supervision Commission heard a briefing from a major banking regulatory agency on the relevant situation on Friday. The Ministry of Finance stated in a statement that the committee will "continue to closely monitor the development of the situation.". The members of the team led by the Treasury Department also include the heads of the Federal Reserve and the United States Securities and Exchange Commission.

 

Information link:

https://www.36kr.com/newsflashes/2661841366869765

 

South Korea will promote policies to enhance corporate value and eliminate undervaluation of Korean stocks

The South Korean financial sector decided on the 26th to introduce and implement a policy to enhance corporate value, in order to eliminate the undervaluation of South Korean stocks. The main content of the policy includes arranging for listed companies to independently develop and publish enterprise value enhancement plans starting from July this year, and constructing relevant indices and fund portfolios based on excellent enterprises as samples within the year. The Financial Committee held a seminar with relevant institutions on the same day to discuss plans to help companies enhance their value and promote the development of the Korean stock market, and reached the above conclusion.

 

Information link:

https://cn.yna.co.kr/view/MYH20240226006900881

 

Ten countries including the United States, Australia, Japan, South Korea, and the United Kingdom have reached a consensus on the common principles for the development of 6G wireless communication systems

According to the White House on February 26th, the United States, Australia, Canada, Czech Republic, Finland, France, Japan, South Korea, Sweden, and the United Kingdom have issued a joint statement on the common principles for the development of 6G wireless communication systems. The statement stated that the above countries plan to adopt relevant policies in their own countries, encourage third countries to adopt such measures, and promote the research and standardization of 6G networks to achieve many common principles.

 

Information link:

https://www.guancha.cn/internation/2024_02_28_726613.shtml

Hong Kong's new "Capital Investor Entry Plan" accepts applications from March 1st

Hong Kong, February 29th (China News Agency) - The Secretary for Financial Affairs and Treasury of the Hong Kong Special Administrative Region Government, Hsu Cheng yu, stated on February 29th that the new fiscal budget covers a wide range of policy measures, and the new "Capital Investor Entry Plan" will be accepted for applications starting from March 1st. In the new budget, it is stated that in order to further enrich the talent pool and attract more new funds to settle in Hong Kong, the SAR government will introduce a new "Capital Investor Entry Plan". Applicants are required to invest a certain amount of assets in the local market, excluding property investment. After approval, one can come to Hong Kong for residence and development.

 

Information link:

Www.sznews. com/news/content/202403/01/content_20774422.htm

 

Bitcoin breaks through $64000 and is expected to experience a new round of "halving" in April

The Bitcoin craze continues to heat up, approaching historical highs. Although it has been less than 50 days since Bitcoin halved, the demand for buying has far exceeded the daily supply. Since its listing on January 11th, Bitcoin spot ETFs have seen inflows of $7.4 billion, with funds flocking in and trading volumes reaching new highs. On February 28th, it also set a record of nearly $7.7 billion in daily transactions.

 

Information link:

https://www.thepaper.cn/newsDetail_forward_25543279

 

Buffett releases a 2024 public letter to shareholders, clarifying the successor

On February 24th, Buffett sent a letter to shareholders. Buffett mentioned in his letter that Charlie Munger, who passed away in November last year, should always be hailed as the "architect" of Berkshire Hathaway, while he himself is like the company's general contractor, putting Munger's vision into action every day. In a sense, Munger is both like an older brother and sometimes like a loving father. Buffett also announced his successor in the letter, and Vice Chairman Greg Abel has prepared himself in all aspects to become the CEO of Berkshire Hathaway tomorrow.

 

Information link:

https://www.thepaper.cn/newsDetail_forward_22084615

 

The 50 billion yuan private equity securities investment fund jointly established by China Life Insurance and Xinhua Insurance has completed product registration

On March 3rd, the reporter learned from relevant channels that the 50 billion yuan private securities investment fund jointly established by China Life Insurance and Xinhua Insurance has completed product registration and meets the conditions for entry into the market. On the evening of November 29, 2023, Xinhua Insurance announced that the company and China Life Insurance each invested 25 billion yuan to jointly establish Private Equity Securities Investment Fund Co., Ltd., with a fund size of 50 billion yuan. Insiders told reporters that the fund had received partial paid up capital before the product filing and was ready to enter the market.

 

Information link:

https://www.thepaper.cn/newsDetail_forward_26480840

Preparing for the post oil era, Saudi Arabia seeks $80 billion in investment to attract more tourists

Saudi Arabia is seeking to attract up to $80 billion in private investment into the tourism industry as it aims to share the financial burden of its plan to become one of the world's most visited tourist destinations. Tourism Minister Ahmad Hatib said, "I hope the private sector can account for the majority of the investment.". He added that the goal is to raise $60 billion to $80 billion by 2030. At present, the Saudi government plans to invest approximately $800 billion in the tourism industry over the next decade to prepare for Saudi Arabia's post oil era, including becoming a major center for everything from metal mining to sports events. The goal is to receive 150 million tourists annually by 2030, of which approximately 70 million come from abroad.

Information link:

Www.licai18.com/article/ArticleDetail.jsp? DocId=3169861

 

US Secretary of Commerce: The US aims to produce nearly 20% of the world's cutting-edge logic chips by 2030

According to a statement on the website of the US Department of Commerce, US Secretary of Commerce Gina Raymond said in a speech that it is expected that the United States will produce nearly 20% of the world's cutting-edge logic chips by 2030. Raymond revealed that the US government plans to use $28 billion in the $39 billion manufacturing incentive plan to subsidize advanced chip manufacturing, but leading companies alone have applied for over $70 billion in subsidies. Raymond said that the US government has decided to prioritize projects that will be operational by 2030 and has rejected some "valuable proposals" expected to be launched after 2030.

 

Information link:

https://cloud.tencent.com/developer/news/1316653

 

Microsoft releases "Artificial Intelligence Access Principles" to provide support for global AI developers

On Monday local time, Microsoft President Brad Smith announced a set of principles to promote innovation and competition in the field of artificial intelligence. Smith stated that the AI Access Principles aim to partially address Microsoft's growing role and responsibility as an AI innovator and market leader.

 

Information link:

https://www.techweb.com.cn/world/2024-02-27/2941372.shtml

 

ASML, a lithography giant, is set to leave the Netherlands, prompting the Dutch government to urgently establish a retention team

According to a source, lithography giant ASML is planning to move out of the Netherlands due to the Dutch government's anti immigration policy bias. The news also stated that ASML has expressed its intention to the Dutch government, stating that it may expand or relocate elsewhere, with France being one of the options. At present, the Dutch government has established a special working group called the "Beethoven Plan", led by Prime Minister Mark Luther, to explore ways to prevent ASML from leaving.

 

Information link:

https://www.guancha.cn/internation/2024_03_06_727494.shtml

 

 

 

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.