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- 💸 $160M for Lumin Digital
💸 $160M for Lumin Digital
And... ⚠️ Fintech risks rank high globally
Welcome to Fintech Wire — your quick guide to what’s shaping finance and tech today.
What we’ll cover today:
💸 Lumin Digital secures $160M in growth equity.
⚠️ DTCC flags fintech risks as a top concern.
🌍 Fintech events to keep on your radar: Green Sarathi Summit & AFF 2025.
Lumin Digital, a leading fintech platform serving credit unions, just landed $160M in growth equity from Insight Partners.
🚨Breaking News: The funding will fuel Lumin Digital's expansion and innovation in delivering digital banking solutions for credit unions and financial institutions.
⚡Wire Simplified:
Lumin Digital is a digital banking provider focused on enhancing the member experience for credit unions.
Insight Partners is backing Lumin with $160M to support its growth and market reach.
The investment will be used for tech advancements and customer acquisition.
Credit unions can expect even more personalized, secure, and modern digital banking services soon.
This move positions Lumin Digital as a rising star in the fintech ecosystem.
✔️Straight to the Point:
With this massive funding, Lumin Digital is poised to supercharge digital banking for credit unions, creating a more member-friendly future.
🎤 Would you prefer a credit union over a bank if their digital services were better? |
DTCC’s latest survey highlights fintech risks as one of the fastest-rising concerns for the financial services industry globally.
🚨Breaking News:
Geopolitical risks, cyber threats, and fintech risks are the top concerns for financial services in 2024, per DTCC’s report.
⚡Wire Simplified:
DTCC surveyed industry leaders on major financial risks for the coming year.
Fintech risks surged as a new top category of concern, alongside cyber risks and geopolitical threats.
The rapid rise of unregulated fintech solutions adds complexity to the industry.
U.S. political uncertainty and inflation also ranked as critical risks.
The industry must balance innovation with robust risk management strategies.
✔️Straight to the Point:
The fintech sector’s growth brings opportunities and challenges, with risks climbing due to fast-paced innovation and regulatory uncertainty.
🎤 Do you think fintech risks are being taken seriously enough by the industry? |
There's a well-known expression in venture capital:
"Only a handful of companies per year actually matter"
I thought it would be interesting to go back and find the Series A deals that actually "mattered" each year with the benefit of hindsight: 👇
🧵Check the whole thread here
What I Read This Week…
Alibaba recently released QwQ, an open-source AI model that competes with OpenAI's o1 in reasoning capabilities.
What is QwQ and how does its performance compare with OpenAI's o1?
QwQ is an open-source, 32-billion-parameter model with a 32,000-token context window that is strong in mathematical and scientific reasoning.
It outperforms o1-preview on mathematical reasoning benchmarks AIME and MATH, and it beats o1-mini on GPQA for scientific reasoning tasks.
While it performs worse than o1 on LiveCodeBench coding tests, it still surpasses other leading models like GPT-4o and Claude 3.5 Sonnet.
QwQ shows that open-source models continue to rival the capabilities of closed-source models and that Chinese AI models continue to rival the capabilities of U.S. AI models.
Green Sarathi Summit & Awards: For a Sustainable Tomorrow
This summit unites Indian businesses to champion sustainability, offering a platform to share opportunities and tackle challenges in mandatory sustainability reporting.Date: December 20, 2024 | Location: New Delhi, India
Asian Financial Forum 2025: Powering the Next Growth Engine
AFF gathers global leaders from government, finance, and business to discuss the global economy from an Asian perspective, focusing on future growth drivers.Date: January 13-14, 2025 | Location: Hong Kong Convention and Exhibition Centre, Hong Kong
What do you think about today’s edition? |
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