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EU imposes new rules and probes on six Big Tech firms

The European Union has announced new regulations and investigations that will affect six of the world’s largest technology companies, namely Apple, Amazon, Google, Meta, ByteDance and Microsoft. The EU aims to curb the market power and anti-competitive practices of these digital “gatekeepers” under the Digital Markets Act (DMA). What is the DMA and who are the gatekeepers? The DMA is a new set of rules that will apply to companies…

Northampton leads the UK in start-up businesses, new study reveals

A new investigation into start-up loans and businesses in the UK has revealed that Northampton has the highest percentage of start-up businesses among the 50 largest UK cities. The study, conducted by BusinessComparison, also found that almost 10,000 start-up loans were awarded to businesses during the 2022/23 financial year by the British Business Bank. Start-up loans decrease but still support thousands of businesses The study used data from the British…

Nationwide strike cripples public services in Nigeria

NLC hails workers for successful first day of strike The Nigeria Labour Congress (NLC) has commended workers for their massive support and efforts at ensuring that the first day of the nationwide warning strike was a resounding success across the nation. The strike, which began on Monday, September 6, 2023, was called by the NLC to protest the impact of petrol subsidy removal on the masses. The NLC President, Joe…

New Banking Code aims to enhance customer trust and protection

The Australian Banking Association (ABA) has announced a proposed new Banking Code that would improve customer rights and safeguards in the banking sector. The new code, which has been submitted to ASIC for industry consultation, is expected to be implemented by July 2024. What are the main changes in the new code? The new code introduces several changes that are designed to enhance customer trust and protection in the banking…

How Loan Software Helps Online Lenders Compete with Big Banks

Online lending is a booming industry that is transforming the world of finance. However, to succeed in this competitive market, online lenders need to leverage the power of loan software that can automate and optimize their processes, reduce costs, and enhance customer experience. Here are some of the benefits of using loan software for online lending. Faster and Easier Loan Origination One of the key challenges for online lenders is…

How AI is transforming the banking industry: A conversation with Archway Software

The banking industry is undergoing a rapid transformation as artificial intelligence (AI) becomes more widely adopted and integrated into various aspects of financial services. From customer service to risk management, AI is enabling banks to improve efficiency, reduce costs, enhance customer satisfaction, and gain a competitive edge. To learn more about how AI is changing the banking landscape, Bank Automation News spoke with Dustin Hubbard, the president of Archway Software,…

Asian Banks Raise Billions in US Dollar Bond Markets

Asian banks, led by the Commonwealth Bank of Australia (CBA) and DBS Group of Singapore, have raised $4.75 billion in US dollar bond markets in separate transactions, according to term sheets seen by Reuters. The deals came amid a surge of bond issuance in the US by global investment-grade-rated companies, as some investors switched to buying top-rated corporate debt offering higher yields than those on government bonds. CBA Issues Three…

Tech workers in Canada face pressure to return to the office

Remote work was once a perk for tech workers When the COVID-19 pandemic hit in 2020, many tech companies in Canada were quick to embrace remote work as a way to keep their employees safe and productive. Shopify, one of the country’s largest e-commerce platforms, declared that “office centricity is over” and announced a permanent shift to remote work for most of its staff. Meta, formerly known as Facebook, also…

How Technology Can Enhance Quality Education and Social Inclusion for Children with Disabilities

Technology is a powerful tool that can transform the lives of children with disabilities. It can help them access quality education, overcome learning barriers, and participate in social activities. In this article, we will explore how technology can be harnessed to promote quality education and social inclusion for children with disabilities in Uganda and beyond. Technology Can Make Learning Materials More Accessible One of the challenges that children with disabilities…

China’s Tech Giants Launch AI Chatbots Following New Regulations

Baidu and SenseTime lead the way with AI-powered chatbots China’s leading technology companies have unveiled their AI-powered chatbots in compliance with the new regulations for the artificial intelligence (AI) industry. Baidu and SenseTime are among the first to receive regulatory approval for their ChatGPT-style chatbots, which can generate natural language responses based on user input. The chatbots can also perform various tasks, such as creating videos, summarizing documents, or providing…