Green Dot Corporation, a digital bank and FinTech renowned for its seamless banking and payment solutions, has appointed Renata Caine as the General Manager of Banking as a Service (BaaS).

In her new role, Caine will lead the company’s BaaS business, focusing on enhancing embedded finance to drive retention, engagement, and growth for Green Dot’s expanding roster of BaaS partners.

She brings with her 17 years of experience in the payments industry, with a proven track record of driving strategy and growth for global businesses.

Prior to joining Green Dot, Caine served as a consulting advisor for Point72 Ventures, where she supported investment activities and provided strategic guidance. She has also held leadership positions at Justt and Marqeta, where she played integral roles in scaling the businesses and guiding strategic transformations.

The appointment underscores Green Dot’s commitment to becoming a market-leading provider of embedded finance solutions.

With her extensive experience and leadership capabilities, Caine will play a pivotal role in driving the company’s BaaS offerings forward, helping partners achieve scale and innovation in the evolving fintech landscape.

Speaking on the news, Caine said, “Green Dot is uniquely positioned to make its mark as a leading BaaS and embedded finance provider given its unique assets and powerful platform and tools designed to help current and future partners achieve scale and innovation. I look forward to helping Green Dot navigate the ever-evolving fintech landscape and to establishing the company as the market-leading single-source platform businesses rely on for embedded finance tools and services.”

Green Dot provides digital banking and payment solutions to both consumers and businesses, offering a range of innovative services to streamline financial transactions.

The company’s Banking as a Service (BaaS) platform enables partners to leverage Green Dot’s infrastructure and technology to deliver seamless financial services to their customers.

George Gresham, Chief Executive Officer, Green Dot Corporation added, “Renata is an impressive leader whose deep experience driving strategy and growth for global businesses will support our evolution as a market-leading single-source embedded finance platform. We are thrilled to welcome Renata to the team as we continue serving and growing our current partners, building our pipeline and establishing a strong foundation that enables scalable growth for our embedded finance business.”

Source: fintech.global

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Berlin-based fintech start-up Finmid has emerged from stealth backed by €35 million in early-stage equity funding.

The funding round was led by UK-based VC Blossom Capital and was supported by existing investors Earlybird and N26 founder Max Tayenthal.

Founded in 2021, Finmid provides financial infrastructure to enable B2B platforms to offer their small and medium-sized business (SMB) customers, such as restaurants or retailers, access to tailored financing support.

The firm is positioning itself to take on traditional financial institutions when it comes to financing local businesses, stating that it provides “a much-needed alternative to banks for European SMBs looking for financing support”.

Finmid claims that “in the last few decades of consolidation, banking has become distant and impersonal, leaving small and medium businesses behind”.

It says it intends to utilise its new funds to “expand to core markets, localise operations, and support more financing options for easier platform integration and a smoother user experience”.

Additionally, the fintech has revealed that it has formed a partnership with Wolt, a Finnish food delivery platform, aimed at bolstering its merchant support.

Through the partnership, first formed last year, the pair have created ‘Wolt Capital’, a cash advance feature designed to assist merchants using the Wolt platform.

Source: fintechfutures.com

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Equity Insider Commentary

VANCOUVER, BC, April 16, 2024 /PRNewswire/ — EQUITY INSIDER – Data centers are at the core of what’s powering the ongoing artificial intelligence (AI) boom. With almost every major industry shifting towards AI, massive amounts of new infrastructure will still be needed, in particular data centers. The Data Center Equipment Market is exploding, with analysts at Straits Research projecting it to surpass $164 billion by 2031, growing at a whopping 13.2% CAGR along the way. According to Technavio, 38% of growth in the Data Center Rack PDU Market growth will originate from North America, while surging data center demand is pushing the limits of available workers. Among the innovators helping to bring the AI revolution to life are a mix of innovators, including Avant Technologies Inc. (OTC:AVAI), NVIDIA Corporation (NASDAQ:NVDA) (NEO:NVDA), Intel Corporation (NASDAQ:INTC), Advanced Micro Devices, Inc. (NASDAQ:AMD) (NEO:AMD), and Amazon.com, Inc. (NASDAQ:AMZN) (NEO:AMZN).

AI tech developer, Avant Technologies Inc. (OTC: AVAI) specializes in the development of advanced AI and data center infrastructure solutions. Recently, the company announced that development on its next-generation, AI-driven resource allocation system is now fully underway. This news follows Avant’s February 2024 announcement of its decision to begin enhancing its sophisticated machine and deep learning AI system, Avant AI™, with automated data center resource management for its new high-density compute data center infrastructure. The company’s management team has expressed great satisfaction with the rapid progress made since the announcement.

This new Avant AI^™ innovative initiative seeks to harness the power of AI to improve resource use, boost performance, and give businesses unmatched flexibility in their data center operations.

“We are excited about the quick development being made on our groundbreaking AI for intelligent data center management,” said Timothy Lantz, CEO of Avant. “These latest innovations will help our customers unlock new levels of performance and efficiency in their data center operations and achieve success in today’s digital era. We anticipate that Avant‘s AI infrastructure solutions will directly boost our clients’ bottom lines and provide a significant competitive advantage in the marketplace.”

Avant AI™ analyzes data in real-time to foresee future resource requirements, automatically assigns resources, and adjusts to fluctuating workloads. Its multi-layered architecture maintains data quality and reliability as it converts AI suggestions into practical actions. Avant AI™ helps businesses by reducing resource waste, lessening performance delays, speeding up resource expansion, and automating resource distribution, which altogether enhances operational efficiency.

“The demands placed on data centers are constantly evolving,” said Danny Rittman, Chief Information Officer of Avant. “Traditional static provisioning and manual configuration methods struggle to keep pace with dynamic workloads and ever-increasing resource needs.  Our AI-driven resource allocation system represents a paradigm shift, promising to revolutionize data center management.”

It’s easy to witness the growth of data centers by looking at leading chipmaker NVIDIA Corporation (NASDAQ: NVDA) (NEO: NVDA), which has seen its Data Center business explode by more than 400% since last year to $18.4 billion in Q4 2024, as reported in its Q4 and FY 2024 results. Key to the growth has been the surging demand for NVIDIA‘s H100 graphics cards that are widely used to power generative AI apps such as OpenAI‘s ChatGPT.

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations,” said Jensen Huang, founder and CEO of NVIDIA. “Our Data Center platform is powered by increasingly diverse drivers — demand for data processing, training and inference from large cloud-service providers and GPU-specialized ones, as well as from enterprise software and consumer internet companies. Vertical industries — led by auto, financial services and healthcare — are now at a multibillion-dollar level.”

Back in mid-December 2023, NVIDIA‘s competitor Intel Corporation (NASDAQ:INTC) unveiled its own new data center chip with a focus on AI growth. The company would go on to follow this up by announcing Gaudi 3 availability to original equipment manufacturers (OEMs), including with Dell Technologies, HPE, Lenovo, and Supermicro, serving to broaden Intel’s AI data center market offerings for enterprises.

“Innovation is advancing at an unprecedented pace, all enabled by silicon – and every company is quickly becoming an AI company,” said Pat Gelsinger CEO of Intel. “Intel is bringing AI everywhere across the enterprise, from the PC to the data center to the edge. Our latest Gaudi, Xeon and Core Ultra platforms are delivering a cohesive set of flexible solutions tailored to meet the changing needs of our customers and partners and capitalize on the immense opportunities ahead.”

Companies are aiming to expand their GenAI projects from initial trials to full-scale production. To achieve this, they require accessible solutions based on powerful, cost-effective, and energy-efficient processors, such as the Intel Gaudi 3 AI accelerator. These solutions must also tackle challenges like complexity, fragmentation, data security, and compliance needs.

Not to be left out, Advanced Micro Devices, Inc. (NASDAQ: AMD) (NEO: AMD) also made adjustments back in December 2023, by introducing new AI and Data Center products, including its Instinct MI300X Series accelerator to deliver robust performance for HPC and AI workloads. The MI300X launch was seen as a move that could help the chipmaker to better compete with Nvidia amid the AI boom. Then by early April 2024, AMD announced the expansion of its AMD Versal^TM adaptive system on chip (SoC) portfolio, with its newer Versal AI Edge Series Gen 2 and Versal Prime Series Gen 2 adaptive SoCs, which bring preprocessing, AI interference, and postprocessing together in a single device for end-to-end acceleration of AI-driven embedded systems.

“The demand for AI-enabled embedded applications is exploding and driving the need for single-chip solutions for the most efficient end-to-end acceleration within the power and area constraints of embedded systems,” said Salil Raje, senior vice president and general manager, Adaptive and Embedded Computing Group, AMD. “Backed by over 40 years of adaptive computing leadership, these latest generation Versal devices bring together multiple compute engines on a single architecture offering high compute efficiency and performance with scalability from the low-end to high-end.”

As of late March 2024, online giant Amazon.com, Inc. (NASDAQ: AMZN) (NEO: AMZN) appears to be going all in on AI-driven data centers, with a $150 billion investment to retain its cloud computing edge over competitors like Microsoft and Google. The biggest headline grabbing element of the giant investment is that one of the largest nuclear power plants in the USA will directly power new Amazon Web Services (AWS) data center. As of the announcement, Amazon’s cloud computing subsidiary was being used by upwards of 1.45 million businesses, according to an internal report.

“We’re expanding capacity quite significantly,” said Kevin Miller, a vice president at AWS. “I think that just gives us the ability to get closer to customers.”

The announcement came within a couple weeks of an announcement by Amazon it would be extending its collaboration between AWS and NVIDIA to advance Generative AI innovation. Included in the extension, the duo plan to integrate Elastic Fabric Adapter (EFA) for petabit-scale networking and Amazon Elastic Compute Cloud (Amazon EC2) UltraCluster for hyper-scale clustering.

“The deep collaboration between our two organizations goes back more than 13 years, when together we launched the world’s first GPU cloud instance on AWS, and today we offer the widest range of NVIDIA GPU solutions for customers,” said Adam Selipsky, CEO at AWS. “Together, we continue to innovate to make AWS the best place to run NVIDIA GPUs in the cloud.”

Source: https://equity-insider.com/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/

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