Bitcoin miner Core Scientific announced plans to significantly expand its AI business. The deal with cloud provider CoreWeave is expected to add revenue of over $3.5 billion over 12 years. Many bitcoin mining firms have been retrofitting existing facilities to service AI clients as revenue from crypto mining plummets. Core Scientific’s 104 megawatt Bitcoin mining …
Rich Data Co. (RDC) has taken another step in the global expansion of its artificial intelligence (AI) decisioning platform for business and commercial lenders. The company has signed its first customer in the United States, M&T Bank Corp., RDC said in a press release emailed to PYMNTS. “This partnership demonstrates the transformative power of AI …
When it comes to payments innovations, banks and payment companies have held up their end of the deal. Instant payments, pay-by-bank, digital wallets, artificial intelligence and tokenization all have been pushed forward from the supply side. Now it’s up to the consumer. Seth Perlman, global head of product at i2c, said there are several drivers pushing consumers, as well as enterprises and banks, toward seamless and …
an artificial intelligence symbol to symbolize concepts around new laws and legislations around AI getty It’s hard to go through a day without hearing the mention of AI. Every day, companies are announcing new AI-driven products and increasing the use of cutting-edge algorithms and large language models (LLMs) to better manage risk, enhance customer experiences, …
FinTechs must make money mobility a top priority if they want to woo consumers away from traditional banks. While PYMNTS Intelligence’s data confirms FinTechs have made progress in meeting consumer expectations around instant payments, there is still room for improvement. In “FinTechs’ Instant Payment Mismatch,” a collaboration with Ingo Payments, we found that 47% of …
The bitcoin halving took effect late on Friday, cutting the issuance of new bitcoin in half. Bitcoin miners have spent years diversifying their business models and upgrading their facilitates to brace for the cut to revenues. Some mining firms have diversified into supporting the underlying infrastructure necessary for artificial intelligence. AUSTIN, TEXAS — Adam Sullivan …
Tranglo has expanded its cross-border payment network to allow transfers to more than 30 digital wallets. The Singapore-based FinTech announced the expansion Monday (April 8), noting that its direct-to-wallet transfers eliminate the need for intermediaries and ensure funds are available to recipients immediately. “This is especially important for millions of rural recipients, who often lack access to traditional financial …
Navigating Fintech Investment Trends: Essential Insights for Startups In the Year 2024 The fintech industry continues to experience rapid growth and evolution, driven by technological innovation, changing consumer behaviors, and evolving regulatory landscapes. For startups entering the fintech space, understanding the latest investment trends is essential for navigating the competitive landscape and securing funding. In …
PayToMe.co integrated Stripe Connect to scale globally and enhance its payments solutions for platforms and marketplace. The integration will facilitate onboarding, global payouts, payment compliance and know your customer processes, with solutions tailored to the needs of more than 100 countries, the FinTech platform said in a Friday (April 5) press release. “Integrating Stripe Connect propels PayToMe.co into a …
New Delhi,UPDATED: Apr 2, 2024 09:08 IST The debate over working from home has taken centre stage once again, with Zerodha CEO Nithin Kamath weighing in on the discussion. In a post on X, Kamath expressed his views, stating that while remote work suits support roles well due to its structured nature, it may not …