Author: nripn

US and China Dominate Global AI Funding in Finance The competitive landscape of artificial intelligence (AI) has become a defining factor in the ongoing tensions between the United States and China. Both nations are at the forefront of AI advancements, particularly in its integration within the financial sector. This insight is revealed in the recent Global AI Competitiveness Index (GAICI) report published by the Deep Knowledge Group. Leading Nations in AI Adoption According to the GAICI, the United States holds the top position globally, followed closely by China as the second leading country in AI adoption within finance. The United…

Forbes 30 Under 30 Alum Faces Serious Fraud Charges The Forbes 30 Under 30 List has garnered significant attention, particularly due to several members embroiled in fraud allegations, including notable figures like Sam Bankman-Fried and Martin Shkreli. Recently, another alumnus, Gökçe Güven, has been charged with multiple counts of fraud. Introducing Gökçe Güven and Kalder Gökçe Güven, a 26-year-old entrepreneur from Turkey, is the founder and CEO of Kalder, a fintech startup based in New York. Güven was celebrated in the Forbes 30 Under 30 list last year for his innovative approach in the financial technology sector. Kalder aims to…

PB Fintech Limited Reports Impressive Q3 FY26 Financial Results PB Fintech Limited, the parent company of popular platforms Policybazaar and Paisabazaar, has unveiled its financial results for the third quarter of the fiscal year 2026. The results underline the company’s robust growth and focus on insurance and credit sectors. Significant Surge in Insurance Premiums During the third quarter, PB Fintech recorded total insurance premiums of ₹7,965 crore, marking a remarkable 45% increase year-on-year and a 17% rise sequentially. This growth can largely be attributed to the expansion of their new online protection business, where premiums surged by 68% compared to…

The Rise of Agentic AI in Finance: Insights from CFOs As the financial landscape evolves, a noteworthy percentage of finance leaders are embracing agentic AI tools, with many outsourcing a significant portion of their accounting and finance tasks. This trend signals a shift in how financial operations are managed, even among those who have historically been cautious about automation. Current Trends in AI Adoption Among CFOs Recent research conducted by Maximor revealed that 27% of CFOs have automated between 50% and 75% of their accounting workloads using AI technologies. A majority, 51%, are finding that automation has simplified between 25%…

Bits Technology Secures €12 Million in Series A Funding to Enhance Compliance Automation Bits Technology, a Stockholm-based provider of compliance and integration infrastructure for regulated FinTech companies and banks, has successfully raised €12 million in Series A funding. This investment aims to accelerate the automation of financial crime workflows and broaden the coverage of various regulatory and data sources. Investor Participation and Background The funding round was spearheaded by Alstin Capital, with contributions from Cherry Ventures, Unusual Ventures, and Alliance Ventures. Additionally, Haval van Drumpt, managing director of Tre Sweden, also joined the investment. Previous Funding Success This latest funding…

Tarabut Expands Offerings with Acquisition of AI Engineering Firm Servable.dev The agreement will support Tarabut’s development from an open banking infrastructure offering to an AI-integrated financial services platform. Credit: Funtap/Shutterstock.com. Tarabut, a regulated platform focused on open banking solutions, has officially acquired Servable.dev, an AI engineering company based in Bahrain. This strategic move signifies a significant step towards integrating advanced AI capabilities into Tarabut’s existing offerings. The primary objective of this acquisition is to evolve Tarabut’s current open banking infrastructure into a sophisticated AI-enhanced financial services platform. By leveraging Servable.dev’s expertise, Tarabut aims to provide banks and fintech companies with…

Central Bank of Nigeria Unveils Groundbreaking Fintech Report The Central Bank of Nigeria (CBN) has introduced its much-anticipated Fintech Report, offering an extensive evaluation of the nation’s flourishing digital financial ecosystem. Released on Monday, the report sheds light on the dynamics of fintech in Nigeria, a sector that has been experiencing rapid growth in recent years. Insights from Stakeholders This comprehensive report is built upon extensive engagement with key stakeholders, incorporating insights from surveys, closed-door workshops, and roundtable discussions with fintech operators nationwide. These collaborative efforts reveal both the advancements and the hurdles that characterize Nigeria’s evolving fintech landscape. Key…

China’s AI Competitiveness in 2023 Global Rankings Overview of the Global AI Competitiveness Index According to the recently released Global AI Competitiveness Index by Deep Knowledge Group on January 28, 2023, China secured a notable score of 83.41 out of 100. This positions China behind the United States, which topped the index with an impressive score of 98.84, while outperforming the United Kingdom, which scored 78.26, as reported by the South China Morning Post. Rankings and Performance Switzerland came in fourth, followed by other strong contenders including Singapore, Germany, Saudi Arabia, and India. The comprehensive evaluation highlighted China’s robust capabilities,…

The Central Bank of Nigeria’s Upcoming Fintech Survey Report: Key Insights and Implications The Central Bank of Nigeria (CBN) is poised to unveil a significant fintech survey report on February 2. This report promises to offer valuable insights into the apex bank’s deepening engagement with Nigeria’s burgeoning fintech sector. According to sources at Nairametrics, the report is grounded in a comprehensive national survey of fintech operators and complemented by various stakeholder workshops and policy discussions held throughout 2025. This collaborative effort aims to paint a clearer picture of the fintech landscape in Nigeria. Shifting Perspectives on Fintech There has been…

Understanding User Distrust in AI Financial Advisors A recent peer-reviewed study sheds light on the reasons behind users’ distrust of artificial intelligence (AI)-based financial advisors, emphasizing how this growing skepticism threatens the long-term sustainability of such systems. The study, titled When Advice Is Unreliable: Privacy, Transparency, and Accountability Risks Drive Distrust of AI and Consumer Resistance to Financial Advice Services, has been published in the journal Sustainability. It examines the influence of ethical risks and governance practices on consumer perceptions of AI financial advice. The Role of Ethical Risks in Eroding Trust Unlike earlier fintech innovations that prioritized cost and…