Tag: finance

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Financial firms should leverage machine learning to make anomaly detection easier

Bikram Singh
Contributor

Bikram Singh is the CEO and co-founder of EZOPS. He has built and managed operational services and technology solutions for banks, hedge funds, asset managers, fund administrators and custodians.

Anomaly detection is one of the more difficult and underserved operational areas in the asset-servicing sector of financial institutions. Broadly speaking, a true anomaly is one that deviates from the norm of the expected or the familiar. Anomalies can be the result of incompetence, maliciousness, system errors, accidents or the product of shifts in the underlying structure of day-to-day processes.
For the financial services industry, detecting anomalies is …

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iPhone sales fuel Apple’s Wall Street-beating Q3

Another excellent quarter for Apple, as the company posted $81.4 billion in revenue. That’s a 36% year-over-year jump for the company, besting Wall Street estimates of $73.3 billion by a considerable margin.
“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” CFO Luca Maestri said in a release. “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support …

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Smoking pizza ovens and pilfered dollar bills, or the early story of RapidSOS

The irony of 911 is that it’s a number that everyone knows (at least in the United States), and yet, no one really thinks about it. Few of us will dial 911 more than a handful of times in our lives, and even when we do, we will meet the police officers and paramedics who respond, never the 911 call taker who handled the dispatch. These systems and the people behind them garner meager attention, whether from Congress, state legislatures, the public or anyone else outside the emergency response community.
Except, that is, for Michael Martin.

RapidSOS’ story is one of a …

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Crypto infra startup Fireblocks raises $310M, triples valuation to $2.2B

Fireblocks, an infrastructure provider for digital assets, has raised $310 million in a Series D round of funding that tripled the company’s valuation to $2.2 billion in just over five months.
Sequoia Capital, Stripes and Spark Capital co-led Fireblocks’ latest round, which also included participation from Coatue, DRW VC  and SCB 10X – the venture arm of Thailand’s oldest bank – and Siam Commercial Bank. The latter is the third global bank to invest in Fireblocks in addition to the Bank of New York (BNY) Mellon and SVB Capital. 
In February, the New York-based startup raised $133 million in a Series C round …

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Solarisbank raises $224M at a $1.65B valuation to acquire Contis, expand API-based embedded banking tech in Europe

Embedded finance — the process by which some of the more complicated, but also commoditized, aspects of financial services are built and wrapped in an API for anyone else to implement in their own products for end users — has become a huge cornerstone of how fintech is built today. Now, one of the earlier and bigger movers in the space is announcing a major round of growth funding to build out its own.
Solarisbank, a Berlin startup that provides a range of financial services by way of some 180 APIs that others use to build end-user-facing products (including basic banking and card …

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Are You Ready For Post-Pandemic Inflation?

Talk of inflation is dominating the news, and with good reason. In a recent column for Bloomberg, Bill Dudley, the former president of the Federal Reserve Bank of New York, warned of the danger of significant monetary inflation, something not seen in the United States for nearly 40 years.[1]
Many of the factors that have contributed to inflation in the past are present in the economy today. They include:
• Low interest rates[2]
• Prior to 2000, the Fed generally kept its key rate at or above 5%, but since the economic effect of 9/11, that rate has only been at 5% for a brief period, leading …

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Sila banks $13M to offer single API for developing financial products, services

Sila announced Monday it raised $13 million in Series A funding for its banking and payment platform that gives software teams tools to build the next generation of financial products and services.
Revolution Ventures led the round and was joined by existing investors Madrona Venture Group, Oregon Venture Fund and Mucker Capital, as well as Wise co-founder Taavet Hinrikus. The funding brings the total investment to date for Portland, Oregon-based Sila to $20 million.
The company was founded in 2018 by Shamir Karkal, Angela Angelovska, Isaac Hines and Alex Lipton to simplify digital payments and storage in a regulatory compliant way and build …

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Botanical Nutrition Company VK Platinum Announces Upcoming ICO Purchase and Staking for PlatinumO2 Crypto Token

Botanical Nutrition Company VK Platinum Announces Upcoming ICO Purchase and Staking for PlatinumO2 Crypto Token – Global Investing Today – EIN Presswire

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Mint’s first PM raises millions for Monarch, an Accel-backed money management platform

Monarch, a subscription-based platform that aims to help consumers “plan and manage” their financial lives, has raised $4.8 million in seed funding.
Accel led the round, which also included participation from SignalFire, and brings the Mountain View-based yet fully distributed startup’s total funding since its 2019 inception to $5.5 million.
Co-founder and CEO Val Agostino was the first product manager on the original team that built Mint.com. There, he said, he saw firsthand that Americans with a greater understanding of financial matters “needed software solutions that went beyond just tracking and budgeting.” 
“They needed help planning their financial future and understanding …

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Checkout is the key to frictionless B2B e-commerce

Andrew Steele
Contributor

Andrew Steele is an investor at Activant Capital. He focuses on fintech and e-commerce infrastructure and is based in New York.

The COVID-19 pandemic cemented e-commerce into everyone’s daily habits in 2020, and as we look ahead, B2B e-commerce is quickly becoming the next frontier for founders and investors.
Businesses have shifted online, and the emergence of B2B marketplaces and e-commerce infrastructure is fueling a new wave of growth that’s estimated to reach $3.6 trillion in annual gross merchandise value (GMV) by 2024.
But one major component remains missing from the stack: checkout, which has the …

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