The Paris-based financing intermediary Silvr benefits from solid business with loans for small and medium-sized enterprises. The cooperation is also lucrative for the major US bank Citi. Silvr can broker new loans of up to €200 million. To do so, it is working with US major bank Citigroup and Channel Capital, a manager of alternative investment funds.
The young Swiss fintech Teylor recently raised a three-digit million amount from international investors. The company Teylor is expanding its management team: Andre Cordesmeyer will become Chief Commercial Officer (CCO), and Huy Nguyen Chief Financial Officer (CFO). This is to create the personnel structures for further growth, according to a statement on Tuesday.
Millions of data were allegedly collected and used for training ChatGPT. CEO Sam Altman has to answer for it in court. OpenAI allegedly stole "large amounts of personal data" to train ChatGPT. Specifically, collecting medical data and information from children weighs heavily in court.
Swiss banks are wooing customers with fee-free and digitally-enabled debit cards. But it's the merchants who are footing the bill. The Competition Commission is now opening a formal investigation against each card giant, Visa and Mastercard.
This week, Binance, the world's largest crypto asset trading exchange, withdrew its license application to the FMA. Moreover, the German BaFin is allegedly reluctant to authorize Binance as a crypto custodian. Recently, the company withdrew from the Netherlands and Cyprus due do regulatory issues. In the U.S. Binance is faced with lawsuits from SEC and the CFTC.
Joachim Würmeling explains the low-interest rate turnaround, among other things. He believes that the Bundesbank and BaFin still have some catching up regarding supervision. The German fintech industry has had a real crisis year, with bankruptcies, layoffs and reduced company valuations, he explained.
The Vienna-basse cryto fintech Bitpanda is launching a new financial product. With it, Bitpanda wants to counteract Europe's low-interest rate environment with its new product, "Bitpanda Cash Plus." It intends to enable investors to earn returns on their money via money market funds.
The Berlin-based fintech Cure Finance thought it had raised just under three million euros from an investor. That was at the beginning of this year. But the sum never arrived at the startup, as Finance Forward and Finanz-Szene report. The consequences are severe: the Berlin fintech is now forced to file for insolvency.
