Ammalgam plans to utilize this investment towards the protocol’s growth and development by expanding on key talent and improving product development on current and future solutions. The company intends to conduct audits to ensure operational efficiency and effectiveness, while also investing in go-to-market strategies.

“We are transforming decentralized finance by enhancing capital efficiency without additional risks,” said Will Fey, Founder of Ammalgam, “Through our innovative lending methods and advanced visualization tools, we provide users with easy access to sophisticated payouts and insights into the impact of price fluctuations and fees, making for a robust user experience in the  DeFi ecosystem”.

Ammalgam combines lending and trading into a single protocol, DLEX, to enhance capital efficiency by utilizing idle assets and offering higher yields without additional risks. DLEX supports advanced users and passive Liquidity Providers (LPs) by providing unlimited trading strategies and guarantees true autonomy that is permission-less and oracle-free with zero dependencies.

Ammalgam offers three lending methods for unutilized assets from the trading pool, traditional DeFi lending and borrowing, and impermanent gain to counteract loss. In addition to lending methods, Ammalgam offers users instant access to assess potential payout positions through payout charts and a novel visualization tool, UI, to display the impact of price fluctuations and fees earned or incurred by LPs throughout the duration of their position.

Investor Quotes

Will Leas, Deal Partner at Lightspeed Faction, said, “Ammalgam brings the power and functionality of DEXs, lending, options, hedging and perpetual protocols into a single primitive, improving capital efficiency and yield generation options in DeFi. Will is one of the sharpest builders we’ve come across and we couldn’t be more excited to back him and the Ammalgam team on their journey.”

“Ammalgam is driving the next phase of AMM innovation by improving capital efficiency for LPs while providing traders with unique payoff structures,” said Roy Learner, Partner at Framework Ventures. “While the DeFi space has been plagued by fast forks and copy cats, we were impressed by Will’s vision to build a net new primitive within DeFi. We’re excited to back Ammalgam as they lead the next major evolution in DeFi.”

Santiago R Santos, an early investor in Ammalgam, said “Not every day you come across something new in DeFi. Combining lending and trading in one protocol improves capital efficiency and reduces risk for LPs. This may be the most exciting primitive since AMMs. I’ve seen how Will and the team have developed the protocol since day 1 and it’s been nothing short of wizardry – the best teams manage to do a lot with little resources. Excited to see what they do in this next chapter.”

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The IDC Fintech Rankings list features the technology companies from around the globe that are focused on providing solutions to the financial services and FinTech industries. The ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry.

“Atleos has been recognized in our IDC FinTech Rankings as a leading global technology provider that can assist financial institutions looking to modernize its branch presence,” explained Marc DeCastro, research director, IDC Financial Insights. “As these institutions look for ways to improve operational efficiencies, digital-first self-service technologies will be a key component to help deliver outstanding and efficient customer experiences.”

“We are proud to use our industry-leading ATM expertise and experience to empower financial institutions to provide exceptional digital-first experiences and effectively compete,” said Stuart Mackinnon, COO of Atleos. “We are honored to be ranked #6 in the 2024 IDC FinTech Rankings list.”

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Drip has seen remarkable growth, quadrupling its revenue and doubling its customer base in the past two years. The company has expanded its services for SMBs by integrating forex and risk analytics solutions with its core trade financing products. The new funding will expedite market expansion and support the development of new products tailored to customer needs.

Drip has been a pioneer in the fintech domain, utilizing advanced AI technologies to enable efficient credit risk assessment, streamline operations, and enhance customer experiences. By continuing to invest in AI, Drip Capital aims to be at the forefront of implementing AI for trade finance.

“In 2022 and 2023, the global trade sector faced significant challenges, including rising interest rates that squeezed margins and restricted capital access for SMBs. Despite these challenges, Drip has emerged as the preferred trade finance platform for SMBs in the US and India,” stated Pushkar Mukewar, Co-founder and CEO of Drip Capital. “We’ve achieved cash profitability and expanded our business during this period. We are excited to welcome our new investors, and alongside our existing investors and debt partners, are ready to drive our next phase of growth.”

On the debt capital raise, Drip Capital’s Chief Business Officer, Karl Boog, added: “Having financed over $6 billion in trade in the past eight years, we have successfully scaled our capital providers. We are thrilled to welcome additional capital from East West Bank and the IFC, the world’s largest development finance institution.”

Karl Boog continued: “For our North American business, we have financed nearly $1 billion for US and Canadian SMBs over the past few years. Our unique Payable Finance offering allows our customers to pay their suppliers’ invoices and extend payment terms up to 120 days.”

Drip’s new investors and lenders have praised the company’s impact and potential.

“We are proud to have supported Drip from its inception, through both equity investment and debt financing. We greatly admire the remarkable growth they have achieved so far. It is a great honor for us to participate with an additional equity investment and advance towards a strategic partnership. Drip’s innovative and comprehensive solutions in digital trade finance are transforming how SMBs engage in trade. We believe Drip’s technology and proprietary underwriting are uniquely positioned to address the challenges in this space. We are excited to continue supporting their journey as they drive forward with ongoing growth and expansion,” said Ryu Muramatsu, Executive Vice President, GMO Payment Gateway.

“We are excited to contribute to the growth of society and market, by encouraging Japan–India corridor activities via this collaboration. We look forward to combining the expertise of SMBC Group with Drip Capital’s technologies, to optimize global trade and enable opportunities for small and medium-sized businesses,” commented Keiji Matsunaga, General Manager of Digital Strategy Department, Sumitomo Mitsui Banking Corporation (SMBC).

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Chabria will draw on his extensive industry experience to advise Genesis in driving the adoption of the Genesis Application Platform throughout financial markets. His insights will help Genesis showcase how clients create strategic value with the platform in terms of generating new revenue, promoting operational efficiency and ensuring resilience. He will also aid in fostering partnerships and other opportunities to expand industry usage of the platform.

“Sumeet is a tremendous asset for Genesis,” said Stephen Murphy, CEO and cofounder of Genesis Global. “He has dedicated his distinguished career to responsibly modernizing and unifying complex technology and operational landscapes at the world’s major financial institutions. His perspective on how our platform aligns with clients’ revenue, cost and risk strategies helps us engage the industry with maximum effectiveness.”

“Financial companies spend billions on software development looking for an edge over competitors,” said Sumeet Chabria, senior advisor to Genesis Global. “The Genesis platform changes that paradigm with its unique ability to build robust financial markets-grade applications, with embedded compliance and controls, ten times quicker and at a fraction of the cost of traditional builds. I see broad-based demand in the market for Genesis technology and the wide range of benefits it offers clients, including boosting developer productivity, building next-gen market infrastructure, upgrading legacy systems and derisking end-user computing (EUC) and complex vendor environments.”

Chabria’s tenure as a global leader for technology and operations includes over twenty-five years combined at Bank of America and HSBC, in New York and London. He is CEO and founder of ThoughtLinks, a technology strategy consultancy catering to AI adoption needs of financial institutions. He is also on the faculty of the executive education program at Carnegie Mellon University’s Heinz College.

In June, Genesis introduced several incentives streamlining how financial firms test and use the platform to address their most strategic and innovative software opportunities. These initiatives include new technologies to accelerate project builds on Genesis, usage-based pricing and a free trial program.

Banks, asset managers and trading infrastructure providers worldwide use the Genesis Application Platform to develop new software, enhance legacy technology systems and replace end-user computing and manual processes with enterprise-quality solutions. Among these clients, Bank of America, BNY Mellon and Citi are also strategic investors in Genesis.

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Introduced in June 2023, Intuit’s GenOS empowers technologists to responsibly design, build, and deploy breakthrough generative AI (GenAI) experiences with unparalleled speed, fueling innovation for its approximately 100 million consumer and small business customers.

Since then, the company has continued to invest in GenOS to streamline end-to-end application development, with built-in governance and safety guardrails, and to enable rapid experimentation. It provides a comprehensive suite of tools with an extensible catalog of best-in-class large language models (LLMs), including commercial, proprietary, and open source base models for fine-tuning. To jumpstart app development, product teams can become productive with GenOS in a matter of minutes via self-serve onboarding tools and guided workflows.

“Intuit’s proprietary GenOS is the key to unlocking new opportunities to fuel consumer and small and mid-market business success with GenAI,” said Alex Balazs, Executive Vice President and Chief Technology Officer, Intuit. “Over the past year, we’ve increased our pace of innovation by enabling product teams to turn new ideas into live customer experiments in just days, and built out our GenOS to speed time-to-market for ideas that rise to the top. We’re proud of the progress we’ve made and fired up about the ‘done for you’ future we’re creating for our customers to power their prosperity.”

With GenOS, Intuit technologists (software developers, product managers, data scientists, machine learning engineers, and data analysts) have experimented with hundreds of GenAI use cases, which has led to game-changing new experiences delivered into the hands of customers with Intuit Assist. For example, Intuit’s GenOS enabled new capabilities with easy-to-understand explanations of tax calculations, backed by real-time accuracy checks, with Intuit Assist for TurboTax, boosting confidence for millions of individual tax filers this tax season.

“Intuit is at the forefront of the industry with this major release of its GenOS,” said Hamit Hamutcu, Senior Advisor at Institute for Experiential AI at Northeastern University, and Column Editor for the Harvard Data Science Review. “It is rare to see this level of scope and scale in a proprietary generative AI development environment. The company built a comprehensive set of tools and practices, far beyond a sandbox for securely experimenting with the technology. It should be a great accelerator for Intuit developers in building sophisticated fintech apps and sets an inspiring example for the industry.”

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More than one in 10 (c.11%) small businesses in the UK use the Tide app. Tide provides a service for small businesses which don’t have their own finance function, such as sole traders and smaller limited companies. Tide offers business accounts and related banking services, including a savings account, but also a comprehensive set of highly usable and connected admin solutions including invoicing, accounting and company formations.

In the UK, 75% of Tide’s members are based outside Greater London, with 14% in Northwest England, 10% in the West Midlands, and 11% in Southeast England.

These small businesses typically operate in sectors such as e-commerce and construction, while many solopreneurs work as a driver or courier. In India, about 90% of Tide members are in semi-urban and rural areas, with Uttar Pradesh, West Bengal and Madhya Pradesh representing the top three states.

Today’s milestone underscores Tide’s commitment to save SMEs time (and money) when managing their finance and admin.

Highlights:

• More than 1 in 10 UK small businesses on Tide (c. 11%)
• 650,000 members in the UK and 350,000 in India
• 1,800 employees globally, mostly in the UK, India, Bulgaria and Serbia

Oliver Prill, CEO of Tide, said: “To have one million members globally using the Tide app to run their small business is a tremendous milestone. It reflects our mission to help SMEs thrive, by saving them time and money in their finance and admin.

“It’s a testament to the extraordinary hard work and ambition of our teams. The growth of our member base, since launching in the UK in 2017, shows how far we have come as a company in product, skill and geographic depth and scale. We will continue to focus on an experience that caters to the needs of time-poor and admin-heavy small business owners, and deliver a diversified product as we grow globally.”

Internationalisation: Tide launches in Germany

Germany represents a major opportunity for Tide as Europe’s largest economy. The expansion into the first EU market, reflects Tide’s long-term ambition to become a leading global platform for SMEs.

Senior hires: widening the Executive for expansion

Tide has made a number of notable senior appointments this year:

• Tide appointed George Schmidt, who has been leading the growth function at Tide since 2018, as CEO UK/Europe. He will join Tide CEO, India Gurjodhpal Singh as the second Regional CEO reporting to Tide CEO Oliver Prill.
• Tide also promoted Rebecca Marriot to Chief Risk Officer. Rebecca was Tide’s SVP of Risk and Compliance since 2018 and she will provide global oversight as Tide expands.
• Anna Fromme-Schoen has been appointed as Managing Director of Tide in Germany. Based in Berlin, Anna is working with a growing team to establish and expand Tide’s presence in Germany. Anna joined Tide from PayPal Germany.

Ongoing commitment to Net Zero

SMEs play a crucial role in the global effort to reduce carbon emissions. Earlier this year, Tide partnered with Connect Earth to introduce products, features and content to help UK SMEs in their journey to achieving Net Zero.

Women in Business: championing female-led businesses

• UK: In February, Tide launched its first Female Business Owners Index looking into the main issues impacting female-led small businesses. This was part of Tide’s commitment to help 200,000 women launch new UK businesses by 2027.
• India: In April, Tide also launched its first Bharat Women Aspiration Index (BWAI) to highlight the experiences of women entrepreneurs in India’s tier II and beyond cities. Tide is planning to onboard 500,000 women-led businesses in India by 2027.

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“Our goal to be a margin multiplier for every business large and small worldwide requires a relentless focus on co-innovation with our customers. As market dynamics continue to shift and operating capital becomes more limited, companies are searching for more ways to drive profitable, sustainable growth. Coupa’s leading total spend management platform underpinned by our community-generated AI gives customers predictive insights, prescriptive decisions, and automated actions needed to drive smarter and more profitable decisions,” said Fang Chang, Chief Product Officer, Coupa. “By replacing archaic processes with Coupa’s AI-driven solutions, businesses will run more efficiently, grow more effectively, and operate more confidently.”

Increasing Efficiency and Productivity With AI While Reducing Risk
With increasing organizational demands on productivity and efficiency, Coupa continues to invest in embedding AI throughout its leading platform. New AI advancements include:

• Coupa Navi, our GenAI-based personal agent, will be generally available in September. Navi supercharges productivity, up-leveling how customers interact with the Coupa platform by finding document status and approvals faster, accelerating requests, and serving as an always-available knowledge base for instant answers to questions.
• Contract Intelligence, powered by new AI enhancements, provides customers with risk-informed clause recommendations helping reduce exposure to potential issues. New enhancements also provide GenAI-generated legal agreement summaries, giving users important context whether from third-party contracts or negotiations.

Maximizing Savings with Unified Spending
Coupa’s complete, unified platform provides businesses with one view into all their spend – both direct and indirect. By unifying all spend categories in one place, organizations can maximize savings and efficiency gains. New enhancements helping to maximize category spend include:

• The Coupa Advantage Marketplace offers quick access to a wide range of goods from trusted suppliers – including Schäfer Shop, Staples, and Würth – with pre-negotiated rates and financial benefits. Helping finance and procurement leaders identify savings opportunities, improve spend visibility and efficiency, and eliminate maverick spend, especially for tail spend. From fresh flowers to latex gloves, the Advantage Marketplace provides access to millions of goods helping customers maximize savings.
• Service Maestro enhancements allow customers to create, view, and manage contingent worker records and assignments, providing full visibility into services spend. This enables businesses to drive efficiencies, optimize costs, and comply with staffing regulations.

Air Methods, an air medical transport provider that operates more than 400 aircraft throughout the US, turned to Coupa to transform their back-office operations. Before Coupa they experienced largely manual processes, lacked standardization, and had poor spend visibility. With one platform, Air Methods has digitized its processes and increased visibility and control while fostering greater accountability and opportunities for savings.

“Coupa’s Advantage program has been instrumental in helping Air Methods increase savings and operational efficiencies across our unique complex supply chain and procurement processes,” said Jake Shearer, Category Manager, Air Methods. “By partnering with Coupa Advantage suppliers, we’ve achieved more than $500K in annualized savings, 100% PO-based spend with Advantage suppliers, and a significant consolidation in tail spend all in the first year. We look forward to using the new Coupa Advantage Marketplace to further optimize our tail spend and increase savings.”

“Our September release, and each of our product releases, drives the Coupa platform forward so our customers can reach their ambitious goals. We continue to invest in new and powerful AI use cases, which gives our customers a disproportionate advantage to achieving top-line growth and bottom-line performance gains,” said Chang.

Learn how you can leverage Coupa’s leading AI-driven total spend management platform here.

Availability
Starting in September, the Coupa Navi AI agent will be available to Core Platform customers, the Coupa Advantage Marketplace will be available to all Procurement customers, and advancements in Contract Intelligence will be available to all Contract Management Lifecycle customers.

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The post Coupa Rolls Out AI-Driven Features to Simplify Business Operations first appeared on FinTecBuzz.

The newly updated page offers an in-depth look at CET, covering all aspects of the token’s structure and functionality. Users will now find comprehensive details on the total issuance of CET, offering a clear understanding of its supply metrics and distribution. The economic model underlying CET is also meticulously explained, illustrating how the token is designed to operate within the market and maintain its value over time.

In line with CET’s deflationary mechanism, the page provides detailed records of CET’s buyback and burn activities, demonstrating CoinEx’s ongoing efforts to reduce the circulating supply of CET and enhance its long-term value proposition. Furthermore, the various rights and benefits available to CET holders are outlined, including trading fee discounts and early access to new products within the CoinEx ecosystem.

This update also includes an expansive overview of the entire CoinEx ecosystem, showcasing how CET integrates with our range of platforms, products, and services. As innovation continues, CET will soon be at the forefront of new applications and use cases within CoinEx’s ecosystem, broadening its utility and importance.

The updated CET information page is a reflection of CoinEx’s dedication to transparency and vision for a robust, user-centered ecosystem. Moving forward, CoinEx remains dedicated to expanding the functionality of CET and exploring new avenues for its use. We encourage our community to stay tuned for upcoming announcements that will further enhance the value and utility of CET within the digital economy.

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Paisamex’s platform enables efficient international money transfer, allowing its customers to send money in minutes and beneficiaries to collect their money within Mexico. Viamericas provides access to additional individuals sending money from the United States to 141 rural towns.

The partnership aims to connect migrant families and expand the reach and accessibility for customers in small towns and rural areas in Mexico. By adding cash payout locations in these areas, customers can benefit from the support of their families without having to travel to receive the remittance.

“At Paisamex, we are thrilled to partner with Viamericas to enhance the remittance experience for our customers in Mexico,” said Jesus Maldonado, CEO of Paisamex. “This collaboration leverages our advanced platform and extensive network, ensuring that money transfers are fast, secure and accessible to more families. Together with Viamericas, we are committed to providing reliable financial services that bridge the gap for migrant families and support their financial well-being.”

Paisamex and Viamericas prioritize customer convenience by accepting cash or debit card payments for money transfers. Viamericas’ 286,700 cash payout locations, direct connections to 2,696 banks and 80 mobile wallets make receiving money quick and easy.

“The partnership between Paisamex and Viamericas is focused on our shared mission to connect families and assist them with their financial goals,” said Joseph Argilagos, Executive Chairman and Co-Founder of Viamericas. “Partnering with Paisamex greatly expands the reach and accessibility of our services, especially for small and rural areas in Mexico.”

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