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GSMA M360 Eurasia 2024 returns to Baku

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M360 Eurasia returns to Baku, Azerbaijan for the second year, inviting leaders from the mobile industry and vertical sectors, and senior policymakers, to accelerate regional transformation

LONDON, April 18, 2024 /PRNewswire/ — M360 Eurasia, hosted by the GSMA and with Host Sponsor Azercell, will return to Baku from 15-16 May 2024 at the JW Marriott Absheron Baku Hotel.

M360 Eurasia convenes executives from leading corporations in mobile and vertical sectors, as well as key political and regulatory figures from the region. The previous edition saw attendance from 29 countries and territories, consisting of 30% senior decision-makers and 45% non-telco attendees. This year’s event will explore how the mobile industry can forge partnerships across industries to prepare for the AI revolution.

The agenda will be aimed at accelerating the ongoing digital transformation of CIS countries and the neighbouring regions, with key topics of discussion including the Digitalisation of Everything, Next-Generation Networks and the Role of Generative AI.

Recently announced speakers include: 

  • Zarina Zeynalova, CEO of Azercell
  • Jana Krimpe, CEO & Founder, B.EST Solutions
  • Evgeny Nastradin, CEO of Beeline Kazakhstan
  • John Giusti, Chief Regulatory Officer, GSMA 
  • Lara Dewar, Chief Marketing Officer, GSMA
  • Dr. Emin Islam Tatli, CISO of Turkcell
  • Petr Dvorak, CEO for Partner Markets, Vodafone Group

M360 Eurasia is with the support of the Ministry of Digital Development and Transport of the Republic of Azerbaijan and Host Sponsor, Azercell. Attendees and members of the media can register for their digital event pass here

The GSMA’s Chief Regulatory Officer, John Giusti, said: As industry and society across Eurasia transform at an unprecedented pace, our connected ecosystem needs a place to explore the latest technologies, identify opportunities and meet with those shaping the digital economy for the region. M360 Eurasia is that place and Baku provides the perfect venue for regional businesses to explore global opportunities, or for global companies to expand across Eurasia.”

M360 series: Regional focus, global impact

Presented by the GSMA, M360 is a series of global events that unify the regional mobile ecosystem. The events aim to discover, develop and deliver innovation that serves as the foundation for positive business environments and societal change. The subsequent M360 event will be M360 LATAM, hosted in Mexico City from 5-6 June 2024. We invite you to find out more about the GSMA by clicking here.

About GSMA  

The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today’s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.  

We invite you to find out more at gsma.com   

Media Contacts  

GSMA Press Office   
[email protected]  

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PB Fintech slips 2% after over 8 million shares change hands via block deal

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PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.

Source: business-standard.com

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US fintech Yendo secures $165m in mix of debt financing and equity

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Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.

Source: fintechfutures.com

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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub

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Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.

Source: fintechfutures.com

The post Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub appeared first on HIPTHER Alerts.

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