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...The Cobalt chip is based on architecture from SoftBank-owned Arm and will be incorporated into Microsoft’s Azure cloud services starting in 2024....
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...He grew the business into Kotak Mahindra Bank, India’s third-largest private sector lender, with a market value of about $44bn....
...The Financial Services Forum, a lobbying group for the largest US banks, said the new rules would hurt the US’s ability to compete with other economies, making a variety of loans and other financial services...
...For years, the financial services industry has sought to automate its processes, ranging from back-end compliance work to customer service....
...The talks come four years after FIS acquired Worldpay for more than $30bn in a deal that was aimed at creating a diversified financial technology company offering payments processing services to large banks...
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...But that is beginning to change as this Lex column explains, with some worrying implications for lenders....
...At a time when small and midsized lenders are struggling to hang on to deposits from flighty customers, Starbucks’ success in amassing user funds should be the envy of the financial services sector....
...Excluded from the sale was the Signet crypto payment processing business, which once had nearly $30bn in assets....
...Starling hopes to license out its own banking technology platform to other companies, providing a white-labelled version for them to run more financial services such as processing payments, card transactions...
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