Apple Unlocks iPhone NFC | Grok-2 AI for Landlords | Amount Invests $30M in Lending | Revolut Valued at $45B | Airwallex Hits $100B in Payments
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Hey Fintech'ers ??
Welcome to the Sunday, August 18th edition of ?? Fintecher Stories!
As summer winds down, whether you're enjoying picnics ??, festivals ??, beach days ???, or a leisurely brunch ??, take a quick 5-minute break to catch up on the latest in fintech. ????
In this issue, we bring you the most recent updates on global fintech trends ??, cutting-edge technological advancements ??, and a closer look at emerging opportunities in the financial sector ??. Stay ahead of the curve with the stories that matter most to you. ??
Thank you for being a valued reader. Let’s dive in! ???
Delving into the leading 5 fintech stories of the week:
??? Story 1: "Apple to Unlock iPhone's NFC Capabilities for Broader Use" ??????
??? Story 2: "Grok-2: The AI Revolution for Landlords and New Regulatory Hurdles" ??????
??? Story 3: "Amount Invests $30M to Transform Digital Lending for Credit Unions" ??????
??? Story 4: "Revolut's Valuation Soars to $45B After Secondary Share Sale" ????????
??? Story 5: "Airwallex Surpasses $100 Billion in Payments with 73% Growth" ??????
?? Story #1
MacRumors.com by Juli Clover / Aug 17, 2024 at 5:30 PM
苹果 's upcoming iOS 18.1, expected in October, will unlock the iPhone's NFC chip for third-party developers, allowing them to support contactless transactions beyond Apple Pay. This expanded access will enable a variety of uses, including payments, digital keys, and IDs. Developers must meet Apple's security standards, use the Secure Enclave, and sign a commercial agreement. Users will be able to set third-party apps as default for contactless payments, with transactions verified through Face ID or Touch ID. The APIs will initially be available in several countries, including the US and UK.
?? Story #2
TechCrunch by Mary Ann Azevedo / Aug 16, 2024 at 3:11 PM
In the latest episode of TechCrunch 's Equity podcast, Kirsten Korosec , Mary Ann Azevedo , and Devin Coldewey discussed several key developments in the startup world. They began with WeRide, a Chinese autonomous vehicle startup eyeing a $5 billion IPO in the US, and its approval to test driverless cars with passengers in California. Next, they explored EliseAI's $75 million Series D raise, making it a unicorn, and its expansion plans into healthcare. The episode also covered Elon Musk’s xAI launching Grok-2, recent shutdowns of fintech startup Tally and dating app Score, and California’s SB 1047 bill aimed at preventing AI-related disasters.
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?? Story #3
FF News | Fintech Finance by Lauren Towner / Aug 16, 2024 at 9:09 AM
Amount , a partner to major U.S. banks, is now focusing on helping credit unions enhance their digital lending capabilities with a fresh $30 million equity investment. This funding, supported by Curql, a credit union fintech collective, will enable Amount to expand its digital origination and decisioning platform tailored for credit unions. By integrating seamlessly with existing systems, Amount aims to streamline loan processes and improve service delivery. The investment also supports the enhancement of AI and machine learning tools, crucial for faster, more accurate loan approvals.
?? Story #4
INQUIRER.net / Aug 17, 2024 at 1:54 PM
Revolut , a British fintech company, announced on Friday that it has been valued at $45 billion following a secondary share sale, making it the most valuable private tech company in Europe. Founded in 2015, Revolut initially focused on currency exchange and transfers via smartphones. The recent share sale, backed by investors including Coatue, D1 Capital Partners, and Tiger Global, provided liquidity to employees. Revolut, which nearly doubled its revenue to ￡1.8 billion last year, now has 45 million customers and recently received a UK banking license with restrictions.
?? Story #5
PYMNTS / Aug 16, 2024 at 3:09 AM
Airwallex , an Australian payments platform, announced that its annual processing volume has surpassed $100 billion, a 73% increase year-over-year. The company is nearing $500 million in annual run-rate revenue and achieved cash flow positivity at the end of last year. Airwallex's cross-border capabilities have driven significant growth, particularly in the Americas, where revenues increased by 300%. The company continues to expand, recently launching payment acceptance in the U.S. and partnering with Canadian platform Float to enhance its bill pay services for global transactions.
And that's a wrap fintech'ers, till next week. ????
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Principal Consultant
3 个月Very informative