We've been named one of the World's Top 250 Fintech Companies by @CNBC and @StatistaCharts.

We've seen double-digit growth, open banking milestones and new additions to our leadership in 2024. Here's to even higher heights in 2025!

Full list here: https://t.co/8dr09cTdjS pic.twitter.com/7aRTof6h2n

— GoCardless (@GoCardless) July 16, 2024

The list, published in collaboration with market research firm Statista, considered more than 2,000 companies before selecting the top 250 in alphabetical order. nCino, founded in 2011, provides cloud computing software to banks.

CNBC and Statista have named us among the world's top 250 fintech companies!
As the pioneer in #cloud-native, SaaS #corebanking, we are proud to be recognized by CNBC alongside the world's most innovative companies in #fintech.https://t.co/qUSESEaCOe

— Temenos (@Temenos) July 15, 2024

The company was recognized in the banking solutions category based on both general and specific key performance indicators (KPIs). We are honored to be included on the Statista ‘World’s Top Fintech Companies 2024’ award list,” nCino posted on its company Facebook page. Of 2,000 eligible companies, nCino was selected for its positive financial standing and innovative impact throughout our markets.

Wilmington fintech recognized globally

Congratulations to Brex, FintechOS, Kueski, Nova Credit, and Wayflyer on making CNBC's Top 250 Fintech Companies of 2024! https://t.co/U8o8c2Sv4b

— Endeavor (@endeavor_global) July 15, 2024

The list comes as global venture funding into the fintech sector has declined sharply from the peak years of 2020 and 2021. Experts note that the market is now adjusting to a new normal, with valuations correcting from previously unsustainable highs.

nCino’s inclusion in the list underscores its significant contributions to banking technology and its strong financial standing in a competitive market. The recognition highlights the company’s innovative solutions and its impact on the industry. As the fintech landscape continues to evolve, nCino’s position among the top companies worldwide demonstrates its ability to adapt and thrive in a challenging market.

The company’s success is a testament to its dedication to providing cutting-edge technology and exceptional service to its banking sector clients.

The post Wilmington’s nCino named top fintech company appeared first on DevX.

In a joint statement, both companies stated that they want to use their complementary capabilities. They aim to develop differentiated global end-to-end AI factory and data center solutions, advanced memory market products, and NPU-based AI Edge servers. SGH is based in California.

It offers a variety of platforms and services for HPC, AI, machine learning, fault-tolerant computing, and the Internet of Things (IoT). Its Penguin Solutions business, acquired in 2018, provides integrated AI data center solutions. This includes designing AI clusters with large-scale GPU servers, data center deployment, and operational expertise.

Mark Adams, CEO of SGH, is enthusiastic about the strategic partnership.

Investment in high-performance computing

Today’s announcement is a testament to Penguin Solutions’ capabilities in deploying AI factories at scale through our systems, software, and managed services suite of solutions.

We look forward to executing these strategic collaboration opportunities with the SKT team and believe they will create value for our respective stakeholders.”

SK Telecom will receive 200,000 preferred shares in SGH as part of the investment. These shares can be converted to ordinary shares at a future date at a price of $32.81 each. This move is part of SK Telecom’s broader strategy to expand its AI portfolio.

Last year, the company invested $100 million in the firm behind the Claude large language models. Earlier this year, it participated in a $320 million Series C funding round for Lambda Labs, another AI company. Ryu Young-sang, CEO of SK Telecom, emphasized the strategic importance of this investment.

“Our investment in and cooperation with SGH will allow us to boost our position in the AI value chain. In the era of AI transformation, we plan to continue collaborating and making proactive investments to achieve global leadership in AI.”

This collaboration between SK Telecom and SGH marks a significant step in the advancements of HPC and AI technologies. It promises enhanced solutions and services for a broad spectrum of industries.

The post SK Telecom invests $200 million in SGH appeared first on DevX.

This includes those aged 65 and above, disabled individuals who meet specific qualifications, and beneficiaries of deceased persons.

These payments are not disbursed uniformly. Instead, they depend on the recipient’s birthdate.

The SSA calculates these benefits considering factors such as an individual’s lifetime earnings, age, and when they chose to start receiving benefits.

Recipients with high lifetime earnings who delay payments until age 70 or have dependent children may qualify for the maximum benefits.

Understanding SSA’s monthly retirement payouts

The average monthly Social Security retirement compensation in January was around $1,907.

This figure is determined by the length of an individual’s career and total lifetime earnings.

Beneficiaries born between the 21st and 31st of any month will receive their payments this Wednesday.

Benefits for those born earlier in the month should have been received already.

Similarly, Supplemental Security Income (SSI) payments for the elderly, blind, and disabled individuals with limited resources conform to the same payment schedule.

If your benefits are delayed, the SSA suggests waiting three business days before taking further action.

If you have not received your benefits after four business days, you are encouraged to contact the SSA directly.

These payments are subject to delay if the normal payment date falls on a weekend or holiday. In that case, they will be received on the last business day of the previous month or the next business day, respectively.

Adjustments are regularly made to balance out the effects of inflation, and Social Security benefits are expected to increase by 1.75% to 2.5% next year.

Last year saw the largest annual increase in nearly four decades, with an 8.7% boost, which was complemented by a 3.2% hike this year.

Aliss Higham, a Glasgow-based reporter, encourages readers to engage with her directly regarding any queries or comments.

Higham, a Goldsmiths University of London graduate, transitioned from freelancing for esteemed digital publications, The Express and The Mirror, to a full-time role in January 2024.

The post SSA to distribute monthly retirement benefits appeared first on DevX.

If the MACD line crosses above its signal line, this could confirm a bullish course. However, a dip below could signal a downturn, steering the pair away from the 156.00 mark. It’s crucial to keep in mind market news and economic indicators, which can significantly shape Forex trends.

The pair has been profitable lately, with its fourth winning session in a row and hanging around 155.80 points. The pair’s rise is noticeable within an increasing channel and is confirmed by the 14-day RSI passing the 50 mid-point — a strong indicator of bullish behavior.

The MACD line currently shows convergence under the signal line, which may suggest a potential upswing if it moves above the signal line — a good buying opportunity.

Analyzing the USD/JPY’s potential upswing

There could be resistance near the key 156.00 level, but surpassing this could prompt the pair to hit the upper boundary of the rising channel at around 159.70.

On the flip side, immediate support could show itself at 154.89, represented by the 14-day EMA, followed by the bottom of the rising channel around the 154.00 mark. If the pair drops below these levels, it may target last May’s low of 151.86.

Forecasts contain inherent risks and uncertainties, and investors should use them as part of their diversified portfolio strategy. They should express a healthy skepticism toward these predictions, do their research, and understand how the market functions. Any investment strategy pursued should be adaptable and patient, always considering potential market fluctuations and volatility.

Investors are encouraged to speak with a financial advisor for more insights and guidance. Ultimately, with careful research, patience, and consultation, investors can successfully navigate this complex process.

The post USD/JPY approaches key 156.00 Forex threshold appeared first on DevX.

Observing climbing stock futures in fluctuating markets

This only goes to show the current market resilience of the tech sector despite the challenges faced by the food service industry. It also highlights the importance of capitalizing on market opportunities and the consequences of failing.

Market instability was noted when the Federal Reserve decided to retain current interest rates. This decision elicited questions regarding the Fed’s strategy to manage inflation, hinting at the possibility of a static interest rate policy. Given the recent decline in inflation, this could trigger a variety of reactions from stakeholders, investors, and economists alike.

Uncertainty is also expected in the timeline for the Federal Reserve to commence reducing borrowing costs. Although it’s unclear when this might happen, the commitment to keeping interest rates low for now may reassure investors and market participants. This is especially pertinent considering how uneven the path to economic recovery often is, depending on factors like inflation rates and job growth numbers.

Investors are predicted to closely monitor coming economic data, which includes weekly unemployment claims, Q1 employee productivity, unit labor expenses, trade deficit figures for March, and factory orders, all leading up to the critical jobs report for April. These data points may dictate the movement in the stock market and lead to unpredictable investor behavior. With volatile trading day expectations suggested by European stocks, vigilance and flexibility in investing strategy are recommended.

In conclusion, as investors await forthcoming corporate results and crucial labor data, they need to be ready to adjust their portfolios and strategies based on these essential data points and their potential impact on the economy.

The post Stock futures rise amid fluctuating market conditions appeared first on DevX.

Meanwhile, the Federal Reserve maintained interest rates within the expected 5.25-5.50% range. Despite this alignment with market predictions, the Fed showcased a surprisingly dovish solid outlook. The seemingly slow tightening of monetary policy suggests that inflation could linger at higher rates before reaching stability.

Addressing disinflation, the Federal Reserve cut Treasury purchases from $60 billion to just $25 billion, effective from June. This change caught market participants off-guard, causing speculation and uncertainty across the financial sector.

USD/JPY dip and Federal Reserve rate decisions

The drastic shift from expected actions has left speculators guessing about the future effects of this mitigation attempt.

Amidst these developments, experts urge caution regarding the significance of US data. If inflation metrics stay strong, the previously mentioned currency pair could reach new heights. As the USDJPY pair wavers around the 155.00 mark post-Japan’s interference, the trends of US data become ever more influential on its behavior.

Incidentally, US Jobless Claims and other economic indices like US NFP and ISM Services PMI become pivotal. The NFP’s comprehensive data on employment and the ISM Services PMI’s insights on the business sector performance could provide vital specifications on the current economy.

In particular, the average hourly wage data of the NFP and the prices and employment elements of the ISM Services PMI will likely influence interpretations of the market situation. Any dips in the price index might, surprisingly, benefit inflation, leading to a positive shift in risk sentiment.

The post USD/JPY plunge sparks market speculation, Fed maintains rates appeared first on DevX.

Current accomplishments

Currently, Delfos monitors over 10GW of renewable energy using its software, professing to enhance operational efficiency, decrease component replacement expenses by 30%, and boost energy production by 3-5%. The company’s success is owed to its advanced algorithms and machine learning capabilities that enable predictive maintenance, accurate forecasting, and real-time decision-making. As the demand for sustainable energy sources grows globally, Delfos’ innovative approach continues to drive significant improvements and cost savings in the renewable energy sector.

Software as a Service (SaaS) product

The firm’s SaaS product aids energy companies in pinpointing network issues prior to power generation loss and identifying component failures before they result in significant downtime, an essential feature for remote assets such as solar energy. This proactive approach not only enhances the reliability and efficiency of energy production, but also minimizes the time and resources needed for maintenance and repairs. By leveraging predictive analytics, the SaaS platform contributes to optimizing the overall performance and sustainability of energy networks.

CEO’s perspective

Delfos’ CEO, Guilherme Studart, underscored the significance of ensuring that renewable assets are as efficient and reliable as possible for a complete transition to green energy. He highlighted the importance of continuous innovation and integration of advanced technologies in optimizing the performance of renewable energy sources. Studart also emphasized that collaboration among governments, industries, and research institutions is key to accelerating the widespread adoption of clean energy solutions.

Future plans

The start-up, which relocated its headquarters from Brazil to target the European market, intends to utilize the seed funding to grow in Europe, recruit in Barcelona and other European areas, and focus on utility companies, maintenance providers, and renewable energy asset owners for its product offering. By offering innovative solutions tailored to the specific needs of these target clients, the start-up aims to address the challenges faced in managing and maintaining renewable energy infrastructure. In addition to expanding its presence in the market, their goal is to establish strategic partnerships with key players in the industry to strengthen their position and contribute to the acceleration of the renewable energy transition.

First Reported on: forbes.com

Frequently Asked Questions

What is Delfos and what do they do?

Delfos is a Barcelona-based start-up that developed real-time virtual engineer software with the aid of AI and big data to automate performance, workflow, and dependability in the renewable energy sector. Their software helps utility companies optimize their renewable energy assets while reducing costs. Delfos provides valuable insights to increase efficiency, streamline operations, and predict maintenance needs, contributing to a more sustainable energy future.

How much funding has Delfos raised and who are the investors?

Delfos has raised €6.3 million ($6.9 million) in a seed funding round. This round was led by Climate tech VC Contrarian Ventures and Headline, with contributions also coming from DOMO.VC and EDP Ventures.

What are the current accomplishments of Delfos?

Presently, Delfos monitors over 10GW of renewable energy using its software. The company claims to enhance operational efficiency, decrease component replacement expenses by 30%, and boost energy production by 3-5%. Their advanced algorithms and machine learning capabilities enable predictive maintenance, accurate forecasting, and real-time decision-making.

What is the Software as a Service (SaaS) product offered by Delfos?

Delfos’ SaaS product helps energy companies identify network issues before power generation loss and spot component failures before they result in significant downtime. This proactive approach enhances the reliability and efficiency of energy production while minimizing the time and resources needed for maintenance and repairs. The SaaS platform uses predictive analytics to optimize the overall performance and sustainability of energy networks.

What are the future plans for Delfos?

Delfos plans to use the seed funding to expand its presence in Europe, recruit in Barcelona and other European areas, and focus on utility companies, maintenance providers, and renewable energy asset owners for its product offering. The start-up also aims to establish strategic partnerships with key players in the industry to strengthen their position and contribute to the acceleration of the renewable energy transition.

The post Delfos Raises €6.3M for AI-Powered Energy Software Expansion appeared first on DevX.

Nonetheless, for maintaining competitiveness in the digital world, gamification must evolve beyond basic engagement methods. Uri Poliavich, CEO of Soft2Bet, has outlined five key insights from iGaming that financial institutions could apply to improve their gamification strategies.

Personalization for increased customer retention

Financial institutions can focus on personalization by utilizing data and analytics to tailor their gamification features to individual customer preferences and behaviors. This approach is proven to increase customer retention and encourage higher engagement levels. Some suggestions to enhance personalization in gamification include:

1. Make financial management more engaging and enjoyable by incorporating challenges, progress monitoring, and rewards.
2. Consider incorporating gamification techniques, such as setting goals and milestones, to maintain motivation and commitment towards achieving financial success.
3. Regularly celebrate the small victories along the journey to keep enthusiasm high and foster a positive relationship with money management.

Combining gamification with localization and customization

Enhance user screen time by combining gamification with localization and customization, offering an engaging experience that could include financial news, interactive budgeting tools, or educational materials. By implementing these personalized features, users are more likely to remain engaged with the platform and benefit from all the resources available to them. As a result, financial organizations can enjoy increased customer loyalty and satisfaction due to the unique and captivating user experience.

Incorporating diverse gamified components

Mimic the diverse components in iGaming related to achievements, rewards, and interactivity, adding more dynamism to financial management, such as earning badges for meeting savings objectives or interactive financial planning scenarios. By incorporating these gamified elements into financial management platforms, users will be more engaged and motivated to reach their financial goals, ultimately leading to healthier financial habits and decision-making. Additionally, providing users with personalized, achievable milestones and real-time feedback not only makes managing finances more enjoyable but also simplifies the process, reducing the complexities often associated with financial planning.

Employing AI for personalized content and improved user experiences

Employ AI to deliver personalized content and improved user experiences, presenting tailored financial advice, predicting user requirements based on spending patterns, and recommending relevant financial products. Incorporating artificial intelligence into financial services can significantly enhance customer satisfaction and streamline the decision-making process. By analyzing customer data, AI-driven tools can offer bespoke solutions and insights, leading to more informed financial decisions and greater financial well-being for users.

Adopting a flexible approach for customized services

Embrace a flexible approach that customizes services according to individual preferences and behaviors, augmenting customer engagement and loyalty. By adapting to the unique needs and preferences of each customer, businesses can create a personalized experience that resonates with their clientele. This level of customization not only fosters strong customer relationships but also promotes a sense of brand loyalty, ultimately resulting in repeat business and positive word-of-mouth referrals.

Conclusion: The benefits of improved gamification

By adopting these strategies, fintech apps can offer users a more dynamic, engaging experience, ultimately leading to heightened customer satisfaction and increased app usage. Moreover, these approaches enable fintech apps to stay competitive in the ever-evolving market while meeting the growing needs and expectations of a diverse user base. In turn, this also offers an opportunity for the fintech industry to build trust and establish enduring customer relationships, which are critical components for achieving long-term success.

First Reported on: forbes.com

Frequently Asked Questions

What is gamification in banking and fintech?

Gamification in banking and fintech refers to the incorporation of game elements, such as rewards, leaderboards, challenges, and badges, into financial platforms and applications. The primary goal of this approach is to enhance user experience, boost engagement, attract and retain customers, and encourage healthier financial habits.

Why should financial institutions personalize their gamification features?

Personalization ensures that gamification features are tailored to individual customer preferences and behaviors. By doing so, financial institutions can increase customer retention and enhance engagement levels, leading to improved satisfaction and loyalty.

What are some benefits of incorporating diverse gamified components in fintech?

By adding diverse gamified elements, such as badges, rewards, and interactive planning tools, fintech platforms can make financial management more dynamic and engaging. Users are more likely to remain motivated and committed to reaching their financial goals, as the process becomes more enjoyable and less complex.

How can AI improve user experiences in fintech?

Artificial Intelligence (AI) can analyze customer data to provide personalized content, such as tailored financial advice, predictions based on spending patterns, and recommendations for relevant financial products. AI-driven insights result in more informed financial decisions and enhanced customer satisfaction.

Why is flexibility important for customized financial services?

A flexible approach allows financial institutions to adapt their services according to individual user preferences and behaviors. Customizing the user experience fosters strong customer relationships, promotes brand loyalty, encourages repeat business, and generates positive word-of-mouth referrals.

The post Gamification Enhances Banking, Fintech Engagement appeared first on DevX.

The nation has been striving to establish a strong presence in the European Union, and this fundraising event demonstrates the importance of supporting startups like PhotoRoom in order to remain competitive globally.

Government policies drive AI sector growth

In addition to discussing specific startup events, the podcast emphasizes the role of governmental policies and initiatives in advancing the AI sector and promoting economic growth. By fostering innovation and providing support for startups, governments can help their countries maintain a competitive edge on the international stage.

Downsizing in unidentified startup raises questions

The episode also addresses a recent reduction in staff at an unidentified startup. This downsizing is particularly puzzling given the company’s recent financial achievements, including raising $7.5 million in the previous year and an increase in its assets under management (AUM). Experts speculate that this unexpected workforce reduction could be due to strategic shifts, cost-cutting measures, or preparations for a potential merger or acquisition. To better understand the company’s motivations, further investigation into its internal dynamics and market position is necessary.

Tier and Dott form strategic partnership in micromobility

In micromobility news, European scooter operators Tier and Dott are joining forces in an effort to capitalize on the benefits of scale, following the bankruptcy of American scooter firm Bird. This collaboration aims to form a larger, more solid operation that offers improved user experiences and long-term service viability in an increasingly competitive market. The partnership illustrates the importance of adaptability and resourcefulness in the quickly changing micromobility industry.

Micromobility market undergoes shifts

The micromobility market is experiencing significant shifts, forcing businesses to adapt or risk falling behind. As more consumers seek convenient and eco-friendly transportation options, companies need to innovate and meet these evolving demands. This has led to an influx of new products, services, and collaborations in the industry, all striving to capture a substantial share of the rapidly expanding market.

Humane workforce reduction pre-launch concerns

In AI hardware news, Humane has laid off employees prior to launching its product. This decision has raised concerns about the company’s ability to meet the high expectations set for its AI offering while operating with a reduced workforce. Balancing resources and efficiency will be key to effectively competing in the fast-growing AI market.

Upcoming venture capital panel discussion

Don’t miss Friday’s venture capital panel discussion for more insights into the startup and venture capital scene. During this engaging event, experienced investors and entrepreneurs will provide valuable advice and analyze current industry trends. Be sure to take notes and ask questions to make the most of this informative session and expand your knowledge of the startup ecosystem.

Stay informed with regular podcast episodes

Remember, new podcast episodes are available on all major podcast platforms every Monday, Wednesday, and Friday at 7 a.m. PT. Subscribe and enable notifications to ensure you never miss an episode or update from your favorite show. With consistent releases, it’s easy to integrate engaging podcast episodes into your daily routine and keep up-to-date on the latest news.

First Reported on: techcrunch.com

Frequently Asked Questions

What is PhotoRoom and what are they trying to accomplish?

PhotoRoom is a French artificial intelligence (AI) company seeking to raise between $50 million and $60 million, valuing the company between $500 million and $600 million. The fundraising event demonstrates the importance of supporting startups like PhotoRoom to maintain a competitive edge in the global market and establish a strong AI presence within the European Union.

What role do government policies play in AI sector growth?

Government policies and initiatives play a crucial role in advancing the AI sector and promoting economic growth. Through fostering innovation and providing support for startups, governments can help their countries maintain a competitive edge on the international stage.

What could be the reason behind the downsizing at an unidentified startup?

The downsizing could be due to strategic shifts, cost-cutting measures, or preparations for a potential merger or acquisition. To better understand the company’s motivations, further investigation into its internal dynamics and market position is necessary.

What is the purpose of the strategic partnership between Tier and Dott?

The partnership aims to capitalize on the benefits of scale, forming a larger, more solid operation that offers improved user experiences and long-term service viability in the increasingly competitive micromobility market. It highlights the importance of adaptability and resourcefulness in this rapidly changing industry.

What challenges does the micromobility market face?

The micromobility market is experiencing significant shifts, forcing businesses to adapt or risk falling behind. Companies need to innovate to meet the evolving demands of consumers looking for convenient and eco-friendly transportation options. This has led to new products, services, and collaborations in the industry, all striving to secure a share of the rapidly expanding market.

Why has Humane’s workforce reduction raised concerns?

Humane’s decision to lay off employees prior to launching its product raises concerns about its ability to meet high expectations for its AI offering while operating with a reduced workforce. Balancing resources and efficiency will be crucial to effectively compete in the fast-growing AI market.

What can listeners expect from Friday’s venture capital panel discussion?

During Friday’s venture capital panel discussion, experienced investors and entrepreneurs will provide valuable advice and analyze current industry trends. This informative session offers a chance to expand your knowledge of the startup ecosystem by asking questions and taking notes.

When are new podcast episodes available?

New podcast episodes are available every Monday, Wednesday, and Friday at 7 a.m. PT on all major podcast platforms. Subscribe and enable notifications to ensure you never miss an episode or update from your favorite show, making it easy to stay informed about the latest news in the industry.

The post French AI Startup PhotoRoom Pursues Funding appeared first on DevX.