Author: nripn

RIYADH: Savvy Games Group, owned by the Public Investment Fund, has signed a memorandum of understanding with international gaming trading company Xsolla to establish an interactive entertainment center in Riyadh. Focused on job creation, game development and publishing, the partnership aims to generate 3,600 jobs in the video game industry in Saudi Arabia by 2030. This initiative supports the Kingdom’s Vision 2030 and is expected to create regional and global economic opportunities for developers. As part of the agreement, Xsolla will establish a regional headquarters in Riyadh, providing product development, technology, customer support and business development services to help developers…

Editor’s Note:Let’s review the top innovation news in Houston this week.Articles on the latest Houston tech and startup trends on InnovationMap included big changes at Ion, a rebranding for a data science company, and more. Houston innovation hub restructures, attracts more Rice resources Rice University is restructuring its operations at Ion. Photo courtesy of IonRice University is building on Ion by restructuring the innovation hub team and increasing the university’s presence within the hub.Paul Cherukuri, vice president of innovation, tells InnovationMap that the changes to Ion — Rice’s innovation center in Midtown — reflect Rice President Reginald DesRoches’ vision for…

Solstice Innovations, Inc. revealed that it is strengthening its technology leadership team to meet growing demand for the next generation of P&C insurance core systems. The Seattle-based insurer has welcomed Joe Cooper as its chief technology officer (CTO), tasking him with expanding both the company’s product and delivery capabilities.Cooper will also take the reins of the Solstice Equinox™ project, which seeks to expand amid increasing market pressures.A seasoned professional, he began his tenure in the property and casualty insurance industry 35 years ago with the Florida Department of Insurance before moving on to a senior technology management role at an…

Driven by rapid technological advancements in FinTech, InsurTech, and regulatory compliance solutions, the financial services industry is undergoing a profound transformation. These innovations are revolutionizing not only how financial institutions operate, but also how they interact with their customers and comply with regulatory requirements. As the industry moves toward this digital evolution, the focus on quality assurance and strategic implementation becomes paramount. Praveen Kumar, a leading expert in the field of software quality assurance for regulatory and financial compliance, is one of the key figures in this transformation. Over the course of his career, Kumar has been instrumental in shaping…

Annual awards recognize the most outstanding financial technology products and companies around the world NEW YORK, March 14, 2024 /PRNewswire/ — Mandatorythe fintech company powering the rental experience of the future and building trust between tenants and landlords through financial technology, has been selected as the winner of the Open Banking Innovation Award in the 8th annual FinTech Breakthrough Awards programme organised by FinTech Breakthroughan independent business intelligence organization that recognizes the best companies, technologies and products in the global FinTech market today. Using open banking and AI, Obligo delivers a trusted and simplified rental experience that allows qualified tenants…

Editor’s Note:Let’s review the most read news stories of the week about innovation in Houston.. Articles on trending tech and startups in Houston from InnovationMap and its daily newsletter This included a new cohort for a TMC accelerator, a win for a Houston fintech company, a NASA-backed space program at UH, and more. 16 digital health and medical device companies selected for UK TMC accelerator The Texas Medical Center has named its second cohort for its UK-focused health tech accelerator. Photo via TMCFor the second time, a UK-backed accelerator hosted by Texas Medical Center Innovation has nominated 16 companies for…

The financial sector has seen remarkable advancements thanks to technological innovations. These changes are not only reshaping the way financial services are delivered, but are also expanding access to a wider audience. From mobile banking to blockchain, the transformation is complete and ongoing.Mobile Banking and Digital WalletsOne of the most significant changes in recent years is the rise of mobile banking and digital wallets. People can now manage their finances from their smartphones. Whether it’s transferring money, paying bills, or even investing, mobile apps have made all of these tasks easier and more accessible. Digital wallets like Apple Pay and…

Global fines for law violations reached a staggering $5.65 billion in the third quarter of 2023, according to a report published by Corlytics.This figure represents a significant increase from the $1.5 billion and $2.27 billion recorded in the first and second quarters, respectively.The majority of these fines, over 85%, were imposed by US regulators, with the aggregate total for 2023 reaching $5.65 billion. Notably, DWS Investment Management Americas, a subsidiary of Deutsche Bank, was fined $25 million by the US Securities and Exchange Commission (SEC) for failing to implement an effective anti-money laundering (AML) program and making misleading environmental, social…

4 minutes reading time Last updated: May 31, 2024 | 12:51 AM ISTThe Reserve Bank of India (RBI) on Thursday released the final framework for recognition of self-regulatory organisations in the financial technology sector (SRO-FT), encouraging entities to have a representative membership from the fintech sector. An SRO-FT may consist of members from fintechs currently regulated by the RBI, including non-banking financial companies-account aggregators (NBFC-AAs), NBFC-peer-to-peer (P2P) lending platforms, among others, excluding banks. The banking regulator said there could be more than one SRO-FT, and fintech firms would be encouraged to participate in at least one. “Given the dynamics of…

There is also a growing perception within the fintech sector of regulatory barriers hindering the sector’s growth. Some fintech companies have also come out in support by writing to the finance minister and the RBI governor after the central bank banned Paytm Payments Bank from accepting deposits. While the two self-regulatory organisations (SROs) – Digital Lenders Association of India (DLAI) and Fintech Association for Consumer Empowerment (FACE) – collectively representing around 120 fintech companies, do not have enforcement powers, they are of the view that the draft guidelines released by the RBI on January 15 could help them enforce the…