Fintech Industry News
A collection of Fintech latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Kobalt Labs Raises $12.7 Million As AI Agents Hit Fintech Compliance
Kobalt Labs Co-Founders Ashi Agrawal and Kalyani Ramadurgam Kobalt Labs has raised a total funding of $12.7 million to automate one of the fintech sector's most stubborn bottlenecks: compliance work that still runs on spreadsheets, screenshots, and…
AI is key driver behind layoffs at fintech company Block, CEO says
BANGKOK (AP) — Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize on its use…
Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
File- This photo taken Nov. 19, 2015, shows Square CEO Jack Dorsey being interviewed on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File) By ELAINE KURTENBACH, Associated Press BANGKOK — Shares in the financial…
Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
BANGKOK -- Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize on its use of…
This Week in Stablecoins: FinTech, Big Tech and Regulation
Multiple stablecoins, operating under different regulatory regimes, will need mechanisms to transact seamlessly with one another and with traditional bank money. When infrastructure becomes boring, it has usually won. Stablecoins are not there yet.
Top Fintech Stocks To Watch Now - February 27th
3 Stocks Well Below 52-Week Highs Poised for a Q4 Rebound Rocket Companies, Joint Stock Company Kaspi.kz, Wealthfront, UP Fintech, PPDAI Group, IDT, and DeFi Development are the seven Fintech stocks to watch today, according to MarketBeat's stock…
SF-Based Fintech Block Lays Off Nearly Half Its Staff, Because of AI
It could be the first of many canaries in this coal mine, but Block, which operates the ubiquitous Square point-of-sale systems as well as CashApp and other enterprises, announced a mass layoff on Thursday. And CEO Jack Dorsey is making no secret…
London Broncos signs deal with Australian fintech OFX
London Broncos have expanded their sponsorship portfolio, signing a deal with global financial operations company OFX. It comes as London Broncos, the only major English rugby league club south of the sport's northern heartlands, seek promotion to…
PureCycle Technologies Skids on 4Q Revenue Miss, New Financial Chief
Shares of PureCycle Technologies fell after the recycling-technology company recorded fourth-quarter revenue below Wall Street expectations and brought in a new chief financial officer. The stock dropped 25%, to $6.10, Friday afternoon and is down…
Jack Dorsey's Oakland-based fintech company Block laying off 4,000 of its 10,000 staff over Artificial Intelligence shift
OAKLAND, Calif. -- Shares in the Oakland-based financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize…
Why Block is trending | CNN Business
Block, the company behind Square, Cash App and Afterpay, is laying off more than 4,000 people. CNN's Hadas Gold explains why Block CEO Jack Dorsey is making the decision to fire 40% of the fintech company's workforce and why he expects other…
Block's Jack Dorsey wants nimble and quick. He thinks AI will do the trick.
Block be nimble/Block be quick/Jack thinks cutting nearly half his staff because of AI will do the trick. Block CEO Jack Dorsey announced he's cutting nearly half his staff, axing more than 4,000 of the company's 10,000 employees. It's a drastic…
How Misfits Market Grew Into A $500 Million Revenue Business
Think this is nice? It's a version of the weekly Under 30 newsletter and would be even better in your inbox. In 2018, fed up with the sheer volume of perfectly edible food going to waste, Abhi Ramesh decided to take matters into his own hands.
Jack Dorsey makes a grim prediction about the future of work as he lays off 4,000 Block employees in AI push
Jack Dorsey, CEO of Block Inc, is not only laying off nearly half of the company's workforce, but he wants investors to think he's an AI -focused trailblazer for doing so. In a letter to shareholders on Thursday, Dorsey shared that Block's…
Block shares soar as Dorsey leans on AI to trim workforce
Feb 27 (Reuters) - Block shares soared more than 20% in premarket trading on Friday after it announced it would nearly halve its workforce as part of an overhaul to embed artificial intelligence tools across its operations.
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