Author: Daniel snow

Sports betting is at ‘important inflection point’

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[ad_1] In a Thursday interview with CNBC’s Jim Cramer, DraftKings CEO Jason Robins said the online sports betting industry is at a turning point as more people across the country realize they can gamble legally.”We’re at a very, you know, important inflection point in the industry,” Robins said. “Most people assume that it’s legal in most states now if not all. And we’re just seeing a lot of great growth.”DraftKings cut its full-year guidance for 2024 when it reported Thursday after the close, sending shares down nearly 6% in extended trading. The company now expects lower revenue due to “customer-friendly…

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What does BaaS mean for business?

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[ad_1] For challenger banks and would-be financial innovators, BaaS can significantly reduce the time to market for many offerings. That efficiency results in lower barriers to entry, because start-ups do not need to raise capital to wait out a prolonged license approval process (or build a substantial compliance team) before they start generating revenue. “For existing banks and financial institutions without sophisticated digital-first offerings, BaaS provides a way to monetize existing infrastructure, regulatory licenses, and risk-management expertise by extending those services to customer-facing distribution partners in return for fees,” says Akhilesh Khera, a partner in PwC UK’s digital banking practice.…

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Mike Pence Qatari jet gift ‘a bad idea’ Trump should turn down

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[ad_1] Former U.S. Vice President Mike Pence speaks in observance of Constitution Day at Middle Tennessee State University (MTSU) in Murfreesboro, Tennessee, U.S., September 17, 2024. Seth Herald | ReutersFormer Vice President Mike Pence said Sunday that President Donald Trump should turn down the gift of a $400 million jet from the royal family of Qatar, citing national security concerns.”Qatar has a long history of playing both sides,” Pence said in an interview with NBC’s “Meet the Press.” “The very idea that we would accept an Air Force One from Qatar I think is inconsistent with our security, with our intelligence needs … I think…

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Unbabel launches AI translation app, looks for fresh funding

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[ad_1] Vasco Pedro, co-founder and CEO of Unbabel, on the first day of the 2023 Web Summit at the Altice Arena in Lisbon.Miguel Reis | SOPA | Lightrocket | Getty ImagesLISBON — Unbabel on Wednesday announced a translation service powered by artificial intelligence, adding another rival to a highly competitive space — with its CEO warning that humans may not be needed for translation at all in three years.Widn.AI is Unbabel’s new product and is based on the company’s proprietary large language model (LLM) called Tower. An LLM is an AI model that underpins applications like OpenAI’s ChatGPT.Unbabel’s LLM allows…

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What does API banking mean for business?

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[ad_1] “API banking has fully unlocked the digital potential for financial services,” says Sam Wadhwani, a director with PwC UK. “It allows for increased specialization, personalization, and integration, and has led to the emergence of third-party products that complement banks’ core offerings with niche services and high-quality customer experiences.” In traditional banking models, customers with accounts at multiple financial institutions found it difficult to quickly generate a picture of their overall financial situation; clients who wanted such an accounting lens for their personal finances were forced to combine transaction histories from individual sources themselves. Open banking, by contrast, allows applications…

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