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☆ U.S. will be ‘more pro-crypto’ after this election, no matter who wins, says Ripple CEO Garlinghouse
▼ + stars: | 2024-10-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Brad Garlinghouse, CEO of Ripple, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. Ripple Labs CEO Brad Garlinghouse has been skeptical of crypto regulation in the U.S., but he is feeling highly optimistic about the post-election environment around the corner. Ripple, a veteran company in crypto known in part for its close association with the XRP token, operates a global payments business with banks and financial institutions as its main customers. About 95% of its business takes place outside of the U.S., which Garlinghouse said is partly a reflection of the contentious environment in Washington. On Wednesday, Garlinghouse offered a piece of advice to fintech startups in this changing time: "Incorporate outside the United States."

Persons: Brad Garlinghouse, we've, Garlinghouse, … It's Organizations: Milken, Global Conference, Ripple, CNBC, DC, U.S . Securities, Exchange Commission Locations: Beverly Hills , California, U.S, Washington, United States

☆ Fund manager picks a lesser-known global tech stock trading at a 'fraction' of the Mag 7
▼ + stars: | 2024-10-23 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Investors should look beyond the so-called "Magnificent Seven" and identify "country winners" in tech outside the U.S., according to one hedge fund manager. Beeneet Kothari, CEO and principal portfolio manager at the U.S.-headquartered hedge fund Tekne Capital Management, said there are global tech stocks that also make good investments right now. "Our view is that there is a Magnificent Seven set of companies in each of the major economies in the world [which] you can buy for a fraction of the value," he told CNBC Pro earlier this month. The Magnificent Seven stocks — Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla — have dominated investor interest in tech over recent years. Kaspi Among the stocks Kothari is betting on is the Kazakhstan-headquartered fintech Kaspi .

Persons: Beeneet Kothari, Kothari Organizations: Capital Management, CNBC Pro, Apple, Microsoft, Nvidia, Tesla, Kazakhstan Stock Exchange, American Locations: U.S, Kazakhstan, Silicon Valley

☆ India will apply its technological capability to other markets: Fintech executive
▼ + stars: | 2024-10-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia will apply its technological capability to other markets: Fintech executiveJames Lloyd, Senior Director, International at Juspay, explains his bullish view of the Indian fintech market, and why he believes there will be more outbound activity in the technology industry.

Persons: James Lloyd

☆ Watch Tether CEO Paolo Ardoino speak live on stablecoins, regulation
▼ + stars: | 2024-10-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Paolo Ardoino, the CEO of Tether, is set to speak Tuesday at the DC Fintech Week conference at Fannie Mae's headquarters in Washington, D.C.Tether is the company behind the largest stablecoin, USDT , which is pegged to the U.S. dollar. It is the third-largest cryptocurrency by market capitalization, according to CoinMarketCap. USDT accounts for about 71% of the market of U.S. dollar-backed stablecoins, with a market cap of about $120 billion, according to CryptoQuant. Tether has faced criticism over a lack of transparency, while USDT has come under fire for its alleged use by criminals. Nevertheless, it remains the most popular and most easily accessible stablecoin due to its ubiquity across global exchanges.

Persons: Paolo Ardoino, USDT, Ardoino's, stablecoins Organizations: DC, Fannie, U.S ., Europe's, CNBC, YouTube Locations: Fannie Mae's, Washington ,, U.S, Crypto

☆ Insana: The market is on a hot streak, and these factors – not the election – are driving it
▼ + stars: | 2024-10-22 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Both have opined that the rally on Wall Street underscores a growing belief that former President Donald Trump will win on Nov. 5. However, I don't yet believe that Wall Street and Pennsylvania Avenue have intersected just yet. Indeed, if the stock market is anticipating a Trump victory, what might the bond market and gold market be telling us, assuming they expect the same outcome? Are those markets telling us a Trump victory would lead to higher inflation and bigger fiscal deficits? Those betting on a Trump win would be loath to say so if they follow the messages of multiple markets.

Persons: Stanley Druckenmiller, Dan Loeb, Donald Trump, Loeb, it's, Dow Jones, Kamala Harris, Trump, Ron Insana Organizations: Senate, Dow Jones, Nasdaq, Federal Reserve, Atlanta, Dow, Taiwan Semiconductor Manufacturing, Nvidia, European Central Bank, Trump, stoke, Democratic, Pennsylvania, CNBC Locations: U.S

☆ More startups are being spun out of Klarna than any other European fintech unicorn
▼ + stars: | 2024-10-22 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Accel labels these companies "founder factories," on the basis that they have become breeding grounds for talent that often go on to establish their own firms. However, most of the biggest fintech founder factories come from Europe. Asked about why Klarna topped the ranking of fintech founder factories in Europe, Bocchio said: "Klarna is an organization that is coming of age now." Nearly two-thirds (61%) of companies founded by former employees of fintech unicorns were founded in the same city as the unicorn, according to Accel. This, he said, "speaks to the maturity and appetite" of individuals within Europe's fintech founder factories.

Persons: Block's, Nikolas Kokovlis, Luca Bocchio, Sebastian Siemiatkowski, Siemiatkowski, Klarna, Accel's Bocchio, Bocchio Organizations: Nurphoto, Getty, Accel, Klarna, CNBC, London Locations: Europe, London, Berlin, Stockholm, Israel, Europe's

☆ 10 analysts just hiked their price targets on these 3 stocks — including a Big Tech AI firm
▼ + stars: | 2024-10-21 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A slew of Wall Street analysts last week turned even more bullish on three stocks ahead of their quarterly earnings reports. CNBC Pro screened for stocks in the MSCI World Index that have received share price target upgrades from Wall Street analysts over the past seven days. Despite raising their price target, Phillip Capital analysts have a "neutral" rating on the stock. The median price target of 17 analysts points to 18% upside potential. The company's share price is correlated to the price of gold , and also copper to a lesser degree.

Persons: Barrick, Jeffrey Wlodarczak, Wlodarczak, Zuckerberg, Helena Wang Organizations: Street, Ltd, Barrick Gold, CNBC Pro, Wall Street, Facebook, Research, Limited, New York Stock Exchange, Phillip Capital Locations: U.S, Singapore, SeaMoney, Canada

☆ Wall Street is trying to make AI search sexy
▼ + stars: | 2024-10-18 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

Finance firms and fintech startups are trying to use generative AI to improve search capabilities. Perfecting search, down the line, could lead to more automation and more complex generative AI tools. It has already onboarded some-25 Wall Street firms onto its generative AI platform. AdvertisementMeanwhile, two Stanford grads came together to build Mako, a generative AI associate for the private-equity industry. The search tool is the bank's second such generative AI tool, the first being a generative AI developer co-pilot that helps software engineers code more efficiently.

Persons: Goldman Sachs, Blackstone, —, Goldman hoovered, Neema Raphael, Raphael, it's, Morgan Stanley's, Keri Smith, Smith, Jeff McMillan, Gabe Stengel, Stanford grads, It's, Peter Anderson, Familiarizing, Goldman Organizations: Service, Bloomberg, Nasdaq, Goldman, Blackstone, Google, Bank of America's, Accenture, Stanford, Balyasny Asset Management Locations: Wall, OpenAI

☆ Klarna, the buy-now, pay-later firm, is looking to make a Robinhood-like product for trading stocks, an internal job ad shows
▼ + stars: | 2024-10-17 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Klarna is assembling a team to build a stock-trading tool to compete with Robinhood, according to an internal message seen by BI. AdvertisementSwedish fintech firm Klarna is hiring a team to build a product that would compete with Robinhood's trading platform by letting customers buy and sell stocks through its app. "Our mission is to obliterate the barriers to consumer investing and empower every Klarna user to build their financial future in a single place - the Klarna App," the internal message said. Lombaard said the company is exploring the possibility of "offering customers the opportunity to buy and sell stocks" and exchange-traded funds, or ETFs, in the Klarna app. Related storiesA spokesperson for Klarna told BI: "Klarna continuously explores new product concepts to serve our customers.

Persons: Klarna, —, Ludo Lombaard, Lombaard, Uber, Jyoti Mann Organizations: BI, Service, Business, Apple, Adidas, Klarna, Bloomberg Locations: Swedish, Europe, jyotimann

☆ Flutterwave CEO GB Agboola on rebuilding trust, and strengthening Africa’s payments future
▼ + stars: | 2024-10-17 | by ( Stephanie Busari | ) edition.cnn.com time to read: +6 min

CEO Olugbenga “GB” Agboola was celebrated for his leadership and lauded as a trailblazer in African fintech, providing digital payment services for businesses across the continent. However, Agboola says Flutterwave has weathered the storm and emerged stronger than ever. In his first major interview since the allegations, Agboola told CNN that Flutterwave is on a mission to rebuild trust and strengthen its governance practices. She says Flutterwave’s fast growth exposed weaknesses in governance, compliance, risk management strategies and inadequate internal controls. Beyond the focus on governance and structure, Agboola envisions a future where Africa’s diverse payment systems are seamlessly integrated into a unified marketplace.

Persons: Flutterwave, Olugbenga, Agboola, ” Agboola, “ We’ve, ”, Mitesh Popat, ” Popat, “, ” Bawo, ” Egbakhumeh, “ Flutterwave, Africa Agboola, we’re Organizations: CNN, Kenyan, Citibank, Nigeria’s Economic, Commission, Global, MainStreet Bank, American Express Locations: Kenya, ”, Flutterwave, Africa, Ghana, Zambia, Uganda, Rwanda, United States, Nigeria, San Francisco

☆ Warren Buffett's Bank of America position goes under wraps. Here's what could happen next
▼ + stars: | 2024-10-13 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway's Bank of America stake has finally been cut to below the key 10% threshold, keeping Warren Buffett's next potential moves under wraps for a few months. The first 700 million shares had a low cost basis of only about $7 per share, while the average cost of the next 300 million shares was in the $30s, Goldberg estimated. "When we sell something, very often it's going to be our entire stake," Buffett said in 2020 when he entirely dumped his holdings in airlines. Still, Buffett sounded negative towards banking following 2023's regional bank crisis that took down Silicon Valley Bank, Signature Bank and First Republic Bank. It's gotten changed by [the regional bank crisis].

Persons: Warren Buffett's, Brian Moynihan, Jason Goldberg, Buffett, Goldberg, It's, That's, digitalization, fintech, Goldman Sachs, Wells Organizations: Berkshire Hathaway's Bank of America, Bank of America, Barclays, Federal, Bank, Signature Bank, First Republic Bank, JPMorgan, U.S . Bancorp Locations: Berkshire, Charlotte, Wells Fargo, U.S

☆ Google's CEO explains what the company looks for in entry-level job applicants
▼ + stars: | 2024-10-11 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Job seekers often face a tougher tech job market; firms are demanding more entry-level roles. AdvertisementLanding a job in techOf course, it's little surprise that most candidates would take the job, given that it's a prestigious company. Tech veteran David Jolles previously told BI that he'd moved to the Atlanta area after about four decades in Silicon Valley. He previously told BI that, little surprise, people who want to nail a job interview should make sure they're prepared. Beyond that, he said, job candidates should have stories ready about topics like a successful project they completed or a career highlight.

Persons: Sundar Pichai, Pichai, —, David Rubenstein, It's, it's, Jason Henninger, Heller, David Jolles, he'd, Jolles, Nolan Church, they're Organizations: Google, Service, Business, Tech Locations: Area, Atlanta, Silicon Valley, It's

☆ Ron Insana: September consumer inflation report was a mere blip in a wider cooling trend
▼ + stars: | 2024-10-11 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

After the latest blast of consumer inflation data, traders are facing a conundrum around how they should interpret the monthly numbers. September's consumer price index report topped the Street's expectations, rising 0.1% from the month prior and increasing at a pace of 2.4% over the past 12 months. Still, the annual inflation rate was the lowest since February 2021. Relative to expectations, September's CPI number does not imply a reacceleration of inflation. Rather, the rate of consumer inflation continues to slow, albeit at a more modest pace than some had hoped for.

Persons: Dow Jones, Nonfarm payrolls, Austan Goolsbee, Ron Insana Organizations: of Labor Statistics, Bureau of Labor Statistics, BLS, Social Security, Dow Jones, Federal Reserve Bank of Chicago, CNBC Locations: U.S

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Ferrari, Meta, Amazon, Eli Lilly, Walmart, Uber & more
▼ + stars: | 2024-10-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs reiterates Nvidia as buy Goldman raised its price target to $150 per share from $135 following a series of Nvidia management meetings. Morgan Stanley names Atlassian a top pick Morgan Stanley named Atlassian a top idea and says the software company is well positioned for share gains. Morgan Stanley reiterates Eli Lilly as overweight Morgan Stanley raised its price target on the stock to $1,158 per share from $1,106. JPMorgan reiterates Amazon, Uber and Meta as top picks JPMorgan said in a note on Friday that Amazon, Uber and Meta were the firm's top three picks heading into earnings. JPMorgan upgrades Ferrari to overweight from neutral The firm says it's more constructive on the luxury automaker following a series of management meetings.

Persons: Wells, Redburn, Mercado, Morgan Stanley downgrades Qorvo, Morgan Stanley, Goldman Sachs, Goldman, Jensen Huang, Colette Kress, Stewart Stecker, Atlassian, Eli Lilly, LLY, Mizuho downgrades Mobileye, Kinder Morgan, it's bullish, Benedetto Vigna, Investor Relations Aldo Benetti, Tesla, Guggenheim Organizations: Bank of America, Broadcom, TAM, UBS, Devices, Mercado Libre, Nvidia, Pharma, Mizuho, JPMorgan, Meta, of America, Ferrari, Investor Relations, Netflix, Guggenheim, Walmart Locations: America, OW, China

☆ Friday's analyst calls: Goldman raises Nvidia target, JPMorgan upgrades Ferrari
▼ + stars: | 2024-10-11 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

(This is CNBC Pro's live coverage of Thursday's analyst calls and Wall Street chatter. Ferrari's scarcity-driven growth strategy has contributed to price growth of as much as 30% for new vehicles compared to prior vehicles, per Brinkman. — Hakyung Kim 6:25 a.m. Morgan Stanley raises Eli Lilly estimates Morgan Stanley notched its price target for Eli Lilly shares higher on increased weight-loss drug estimates. — Hakyung Kim 6:00: am Goldman Sachs raises Nvidia price target Goldman Sachs believes strong demand for artificial intelligence compute should help drive Nvidia shares higher. Analyst Toshiya Hari increased his price target on Nvidia shares to $150 from $135, implying 11.3% upside potential from Thursday's close.

Persons: Goldman, Morgan Stanley, Elli Lilly, Ryan Brinkman, Brinkman, Ferrari, — Hakyung Kim, Eli Lilly, Terence Flynn, Zepbound, Eli Lilly's, Mounjaro, Flynn, Mercado, Gonzalo Lopez, Lopez, Mercado Credito, Goldman Sachs, Toshiya Hari, Hari, Hakyung Kim Organizations: CNBC, Nvidia, JPMorgan, Ferrari, Mercado Libre, company's Data Locations: Thursday's, Latin America, U.S, America, verticals, Hari

☆ Ripple launches crypto storage services for banks in bid to diversify
▼ + stars: | 2024-10-10 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

U.S. blockchain startup Ripple made a major foray into crypto custody on Thursday, launching new services aimed at helping banks and financial technology firms to store digital assets on behalf of clients. The crypto custody market is forecast to reach at least $16 trillion by 2030, according to the Boston Consulting Group. Ripple said that custody is one of the fastest-growing areas for the startup, with Ripple Custody posting customer growth of over 250% year-over-year growth this year and operating in seven countries. Last year, Ripple acquired Metaco, a firm that helps other entities store and manage their crypto, in a bid to boost its nascent crypto custody business. The company this year also acquired Standard Custody & Trust Company, another crypto custody firm, to further bolster its efforts.

Persons: Ripple, Aaron Slettehaugh Organizations: CNBC, Boston Consulting, HSBC, BBVA, Societe Generale, DBS, XRP, Trust Company, U.S . Securities, Exchange Commission, SEC Locations: San Francisco, Swiss

☆ Alums of $16 billion Tiger Cub Lone Pine have struggled to hack it on their own — with one notable exception
▼ + stars: | 2024-10-10 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

In the past five years, four other alums have either shuttered or stopped trading hedge fund strategies. It's the latest spinoff from long-running Tiger Cub Lone Pine Capital to shutter. Lone Pine, the $16 billion firm led by co-chief investment officers Kelly Granat and David Craver, was founded in 1997 by billionaire Steve Mandel. Inside the Lone Pine family treeGaonkar's experience is far from the norm for Lone Pine alums though. Firms like Lone Pine, Tiger Global, Coatue, Viking Global, Maverick, Light Street, and others have lasted for decades and minted billionaires along the way.

Persons: Scott Coulter's, Mala Gaonkar, —, Coulter, Cowbird, Pine, Kelly Granat, David Craver, Steve Mandel, Mandel, Julian Robertson's, Lone, Coatue, redemptions, Gaonkar, David Byrne, SurgoCap, Abobe, David Stemerman's, Scott Phillips, Matt Iorio's, Li Ran's, Brian Eizenstat's, Paul Eisenstein's, Nikhil Trikha, Arthur Wit, that's, Andreas Halvorsen's, Dan Sundheim's, Ben Jacobs, Ning Jin, Marco Tablada, Robertson, Tom Purcell Organizations: Service, Business, Lone Pine, Julian Robertson's Tiger Management, Cubs, Roberston's Tiger Management, Tiger, CNBC, Nvidia, GE, Figma, Pine, Latimer, Elm, Sky Capital, CenterBook Partners, Ampersand Capital Group, Global, Fund Research, Tiger Cub, Tiger Management, Viking Global, Viking Locations: Lone, Lone Pine, Granat, Texas, Li Ran's London, California, Viking

☆ Berkshire slashes Bank of America stake to under 10%, no longer required to disclose frequently
▼ + stars: | 2024-10-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July. The move brings his holdings down to 775 million shares, or a stake of about 9.987%. Since the holding is now under the key 10% threshold, Berkshire is no longer required to report its related transactions in a timely manner. The next 13F filing in mid-November will only reveal Berkshire's equity holdings as of the end of September. Bank of America CEO Brian Moynihan previously said the market is absorbing the stock, aided by the bank's own repurchasing.

Persons: Warren Buffett, Warren Buffett's Berkshire Hathaway, Buffett, Omaha's, Brian Moynihan, Goldman Sachs, Wells, It's, digitalization, fintech Organizations: Berkshire, Bank of America, U.S . Securities, Exchange Commission, SEC, JPMorgan, U.S . Bancorp Locations: Omaha , Nebraska, Bank, Berkshire, Wells Fargo, U.S

☆ India's central bank holds rates as expected, shifts stance to 'neutral'
▼ + stars: | 2024-10-09 | by ( ) www.cnbc.com time to read: +1 min

The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday, as widely expected, but tweaked its policy stance to "neutral," opening the door for rate cuts amid early signs of a growth slowdown in the economy. The Monetary Policy Committee, which consists of three RBI and three external members, kept the repo rate unchanged at 6.50% for a tenth straight policy meeting. The committee, however, changed its policy stance to "neutral" from "withdrawal of accommodation." The MPC last changed rates in February 2023, when the policy rate was raised to 6.50%. India's overall growth slowed to 6.7% in the June quarter.

Organizations: Bank of, Global, Reserve Bank of India, Monetary, Committee, Reuters, MPC, PMI Locations: Bank of India, Mumbai, India

☆ Influencers are swiping a new black card at restaurants, spas, and fitness studios
▼ + stars: | 2024-10-08 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +5 min

After creating sponsored content, influencers can spend the payment in person at the business. AdvertisementThere's a hot new card influencers are swiping at restaurants and retailers to redeem products and services. Advertisement"We are being extremely diligent on only letting in the top creators in cities we are operating in," Van Kuyk said. Influencers who use the platform include Roz Model (15 million Instagram followers), Montana Tucker (3.2 million Instagram followers), Kat Graham (9.7 million Instagram followers), and Matt Staffanina (3.7 million Instagram followers). Brands care about a creator's audience, brand safety, and if the creator fits the right aesthetic, Van Kuyk said.

Persons: influencers, —, Flowrbombr, OTH, Van Kuyk, Ketan Rahangdale, Brands, Influencers, Roz Model, Montana Tucker, Kat Graham, Matt Staffanina, we've, It's Organizations: OTH Network, Service, OTH, Brands, Visa, Mastercard Locations: Miami, Los Angeles, Beverly Hills, LA, Chicago, Las Vegas, New York

☆ Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.
▼ + stars: | 2024-10-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

He joined VC firm Menlo Ventures in 2021 and has invested in generative AI startups like Pinecone. Using his technical expertise as a former programmer and CTO, Tully is helping amass an impressive portfolio of AI startups at Menlo Ventures. He's also written code as a way to help win over startups in the broader Menlo Ventures portfolio. That helped seal the deal, and Ionita led Orb's $14 million Series A funding round. While Menlo has been bolstering its portfolio with AI infrastructure startups, Tully said he's excited these days about opportunities at the application layer.

Persons: Tim Tully, —, Tully's, Tully, He's, Warby Parker, Roku, Uber, Jess Lee, I've, Naomi Pilosof Ionita, Ionita, he's, legaltech –, Eve Organizations: Yahoo, Menlo Ventures, Service, Venture, Apple, Menlo, Bay Area, Data Systems, Oracle, AOL, Huffington, Sequoia Locations: Bay, Splunk, –

☆ Earnings season kicks off after a blowout jobs report upended investors' hopes of another interest-rate cut
▼ + stars: | 2024-10-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: Amazon's Prime Day kicks off tomorrow, and there are some deals on surprising items . Amazon's Prime Day kicks off tomorrow, and there are some deals on . Getty Images; Jenny Chang-RodriguezWe've already got one indication companies are in good shape: Friday's blockbuster jobs report . But another blowout report — 250,000 jobs added and at least 4% wage growth — could lead the Fed to reconsider its easing policy. In addition to the usual Prime Day gadgets, like TVs and Airpods, Amazon is dishing out deals on tents, pocket knives, and chainsaws.

Persons: —, Jenny Chang, Rodriguez, Matthew Fox, we'll, Rodriguez We've, there's, Philipp Carlsson, Chelsea Jia Feng, haven't, Donald Trump's, Tyler Le, John Tomac, that's, boomers, They're, Gen Xers, Gen Zers, Kamala Harris, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, . Tech, Amazon's, Pfizer, Wall Street, JPMorgan, Wells Fargo, Big Tech, Getty, Fed, Boston Consulting, Trump Media, Microsoft, BI, pharma, CBS, ASEAN Locations: Israel, fintech, Vientiane, Laos, New York, London, Chicago

Business Insider asked 27 venture-capital investors to nominate the most promising fintechs. VCs highlighted startups that haven't raised beyond a Series C.Here are the 49 most promising fintechs. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Business Insider asked 27 top investors — including Index Ventures, QED Investors, and Bain Capital Ventures — to name some of those diamonds in the rough. Check out the 49 startups identified as most promising by 27 top investors.

Persons: —, fintechs Organizations: Service, Business, Index Ventures, Bain Capital Ventures

☆ Klarna CEO says a European tech brain drain is ‘number one risk’ for company ahead of IPO
▼ + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Sebastian Siemiatkowski, CEO of Klarna, speaking at a fintech event in London on Monday, April 4, 2022. Chris Ratcliffe | Bloomberg via Getty ImagesA European technology talent brain drain is the biggest risk factor facing Klarna as the Swedish payments company gets closer to its upcoming initial public offering, according to CEO Sebastian Siemiatkowski. "When we looked at the risks of the IPO, which is a number one risk in my opinion? He was referring to company risk factors, which are a common element of IPO prospectus filings. Still, when it does go public, Klarna will be among the first major fintech names to successfully debut on a stock exchange in several years.

Persons: Sebastian Siemiatkowski, Chris Ratcliffe, Siemiatkowski, —, Klarna, Compensia, Klarna's, CNBC's, Goldman Sachs, Jack Dorsey's, he's, Siemiakowski, they're Organizations: Bloomberg, Getty, CNBC, Apple, Meta, PNL, Ventures, Google, U.S Locations: London, Europe, U.S, Sweden, Germany, Italy, Britain, Afterpay, American

☆ Digital bank Revolut slams Meta over approach to scams, says tech giant should compensate victims
▼ + stars: | 2024-10-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

British financial technology firm Revolut on Thursday criticized Facebook parent company Meta over its approach to tackling fraud, saying the U.S. tech giant should directly compensate people who fall victim to scams via its social media platforms. In a statement, Woody Malouf, Revolut's head of financial crime, said that Meta's plans to tackle financial fraud on its platforms amount to "baby steps, when what the industry really needs is giant leaps forward." "These platforms share no responsibility in reimbursing victims, and so they have no incentive to do anything about it. Britain's Payments System Regulator had previously recommended a £415,000 maximum compensation amount for fraud victims, but backed down following backlash from banks and payment firms. The fintech firm published a report Thursday alleging that 62% of user-reported fraud on its online banking platform originated from Meta, down from 64% last year.

Persons: Revolut, Woody Malouf, Malouf, Meta, Revolut's Malouf, WhatsApp Organizations: Facebook, Meta, NatWest, Metro Bank, CNBC, Regulator, Consumer Security Locations: U.S, Meta

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