Blog

  • Fintech Revenues Hit Dollar 650B Globally But Europe Is Still Leaving Money on the Table, Investor Says

    Fintech Revenues Hit Dollar 650B Globally But Europe Is Still Leaving Money on the Table, Investor Says

     Daiva Rakauskaitė, CFA, partner and fund manager of Aneli Capital

    Vilnius, June 30: After several years of turbulence, the global fintech sector is entering a new growth phase. In Europe, however, fintech penetration remains below 3% even as consumers trust digital platforms more than legacy banks. According to an investor, the next phase of European fintech growth will depend on startups that can build regulatory capability early and use AI to compete with better-funded incumbents.

    Last year, global fintech companies generated approximately $650 billion in revenues, representing a growth rate of about 21% year over year from 2024, according to a recent McKinsey report. Investment data by CB Insights shows that in Q1 of this year, fintech deal value was $12,1 billion, up 3,7% year on year, with the US capturing 47% of deals, while Europe accounted for around 21%.

    According to Daiva Rakauskaitė, Managing Partner at a VC firm Aneli Capital, despite global growth, the European fintech market remains underutilized.

    A McKinsey consumer survey across European countries shows that consumers trust fintech companies and digital banks more than traditional banks for the first time, and see fintechs as more innovative, more transparent on fees, and better value overall.

    However, fintech financial services still represent only a fraction of the broader financial market. In Europe, the fintech sector has remained smaller, with 2.6% market penetration, compared to 3% in Asia and 8% in Latin America.

    Rakauskaitė notes that European fintechs often lag behind due to fragmented national markets, stronger incumbent banks, lower access to capital, and regulation.

    “In Europe, regulation often sets the pace of fintech expansion. For early-stage companies, compliance and licensing requirements can increase the cost and complexity of market entry, often favoring larger, better-capitalized players. At the same time, fintechs that invest in regulatory capabilities early can turn compliance into a competitive advantage, strengthening customer trust and increasing their attractiveness to investors,” Rakauskaitė says.

    According to Rakauskaitė, the main driving force behind the new wave of European fintech winners will be those that can grow in a regulated environment and deploy AI to scale.  Q1 investment data by PitchBook already shows that investors are backing AI-native startups at the earliest stages, where smaller teams are hitting growth benchmarks faster than ever before.

    “Scaling a financial product used to require massive engineering, operations, and compliance teams from day one,” Rakauskaitė says. “Today, AI-native startups can automate significant parts of product development, operations and customer support, allowing them to reach product-market fit and validate distribution channels with substantially less capital and smaller teams. While regulated financial activities still require robust compliance and governance functions, AI is reducing the cost and time needed to build and scale fintech products”.

  • DITE&C convenes 11th Empowered Committee meeting to accelerate Goa’s startup growth DITE&C backs high-growth startups at 11th Empowered Committee meeting

    DITE&C convenes 11th Empowered Committee meeting to accelerate Goa’s startup growth DITE&C backs high-growth startups at 11th Empowered Committee meeting

    Porvorim, June 30: The Department of Information Technology, Electronics and Communications (DITE&C), Government of Goa, convened the 11th Empowered Committee Meeting at the Conference Hall, Mantralaya, Porvorim. The committee reviewed and evaluated applications submitted under the Seed Capital Grant Scheme of the Goa Startup Policy 2025.

    The meeting was chaired by Dr. Pramod Sawant, Hon’ble Chief Minister of Goa and co-chaired by Shri. Rohan Khaunte, Hon’ble Minister for IT, Electronics & Communications and Shri. Chandrakant Shetye, Hon’ble MLA, Bicholim & Chairman ITG, and members including Shri. Prasad Lolayekar, IAS, Secretary of Education, Shri. Santosh Sukhadeve, IAS, Secretary of Information Technology, Shri. Asvin Chandru A., IAS, Director, Department of Industries, Shri. Kabir Shirgaonkar, Director, DITE&C, Shri. Praveen Volvotkar, Managing Director, ITG, Smt. Pratima Dhond, President, GCCI, Shri. Mangirish Salelkar, President, GTA and Shri. Deelip Menezes, MD, 3D Systems India.
    Speaking about the booming startup scene in Goa,  ITE&C Minister, Shri. Rohan Khaunte said, “The Seed Capital Grant Scheme is designed to clear the initial financial hurdles so startups can focus on growing their businesses. Looking at the talent we reviewed today, it’s clear that Goa is quickly becoming a major hub for India’s next generation of startups. Startups such as Molbio Diagnostics, Goa’s first-ever unicorn, and Spintly have already paved the way, demonstrating Goa has the talent, the capabilities, and the ecosystem to create a world-class environment where founders feel backed to build and grow in Goa. Through policies, incubation, mentorship and financial assistance, we’re ensuring our startups get the right support and funding at the right time.”
    The Seed Capital Scheme, a key initiative under the Goa Startup Policy 2025, provides one-time financial assistance of up to Rs 10 lakh to startups that have developed a Minimum Viable Product (MVP). The Startup and IT Promotion Cell (SITPC) received 26 applications under the Seed Fund Scheme, which were scrutinised by the Expert Committee. After a detailed evaluation, 15 startups were recommended to the Empowered Committee.
    During the meeting, the startups spanning sectors such as artificial intelligence, product development, health tech, media tech, content creation and food & beverages showcased their innovative solutions developed in Goa. These applications were assessed on parameters including feasibility, innovation, scalability, revenue model and long-term sustainability.
    Besides the evaluation, cheques were also presented to four educational institutions at the hands of the Hon’ble Chief Minister of Goa and the Hon’ble ITE&C Minister. Goa College of Engineering, Government College of Arts, Science & Commerce, Quepem, Srinivassa Sinai Dempo College and Parvatibai Chowgule College of Arts & Science received grants of Rs 10 lakh each for setting up incubation centres, further strengthening the startup ecosystem in Goa.
    The consistent rise in startup applications underscores Goa’s growing status as an emerging innovation hub. Through initiatives such as the Seed Capital Grant Scheme, the Government of Goa continues to demonstrate its commitment to nurturing a vibrant startup ecosystem by offering early-stage support and creating an enabling environment for high-potential founders to build, scale and succeed.

  • Simplify Genomics and SimonMed Announce Collaboration to Advance Preventive Healthcare Through Integrated Genomics and Imaging

    Combining whole genome interpretation with large-scale whole-body MRI to enable a more comprehensive view of human health 

    San Diego, CA — June 30, 2026 — Simplify Genomics today announced a collaboration with SimonMed aimed at advancing a more integrated approach to preventive healthcare. By combining SimonMed’s national scale in whole-body MRI with Simplify’s Whole Genome Interpretation and Reporting Platform, the collaboration seeks to provide a more complete picture of human health— helping identify risk earlier, personalize care pathways, and support more proactive health decisions. Across both imaging and genomics, there is growing evidence that early indicators associated with disease may be identified well before they surface in traditional care pathways. Together, these modalities offer complementary perspectives: genomics can provide insight into underlying disease risk, while imaging can help identify existing structural or physiological changes. 

    Simplify Genomics has spent years developing and refining its clinical reporting platform as a CAP/CLIA-certified laboratory and has processed in excess of 50,000 whole genomes to date. The platform includes thousands of disease associations and a broad set of pharmacogenomic insights, designed to support clinical interpretation and integration within real-world care settings. 

    Paired with SimonMed’s leadership in accessible, AI-enhanced imaging at national scale—including a network of more than 175 imaging centers across the United States —the collaboration creates an opportunity to explore patterns and connections that may not be visible through any single modality alone, supporting earlier insight and helping to inform clinical decision-making. 

    “This collaboration reflects a shared vision for the future of healthcare—one that is more proactive, data-driven, and personalized,” said Travis Lacey, CEO of Simplify Genomics. 

    “We believe the future of healthcare lies in making advanced preventive insights more accessible and actionable,” said John Simon, CEO of SimonMed. “By combining imaging and genomics, we have an opportunity to help patients and providers better understand health risk earlier and with greater clarity.” The collaboration is progressing rapidly, with additional updates expected in the near future. 

  • Aadhaar-Bank Linkage Mandatory for Pension Benefits; 3.35 Lakh Yet to Complete Process

    Bhubaneswar, June 30 (UDN): Pension beneficiaries across Odisha have been asked to link their Aadhaar numbers with their bank accounts to continue receiving pension benefits, with the government making the linkage mandatory for seamless disbursement of financial assistance.

    Aadhaar-Bank Linkage Mandatory for Pension Benefits; 3.35 Lakh Yet to Complete Process

    Representational Image

    Official sources said nearly 3.35 lakh beneficiaries are yet to complete the Aadhaar-bank account linkage. Authorities have urged them to do so at the earliest, warning that failure to complete the process may result in delays or interruption in pension payments.

    The government has directed district administrations and field-level officials to intensify awareness campaigns and assist beneficiaries in completing the mandatory linkage. Pensioners have been advised to visit their respective banks or authorised service centres to verify their Aadhaar-bank account status and complete any pending formalities.

    Officials said the initiative is aimed at ensuring transparent and efficient direct transfer of pension benefits to eligible beneficiaries while preventing duplication and ensuring that welfare assistance reaches the intended recipients.

  • Cyber Fraudsters Target College Aspirants, Demand Money in the Name of Admissions

    Bhubaneswar, June 30 (UDN): Cyber fraudsters have reportedly targeted college aspirants in Odisha by posing as admission officials and demanding money under the guise of facilitating admissions.

    Cyber Fraudsters Target College Aspirants, Demand Money in the Name of Admissions

    Representational Image

    According to sources, the fraudsters are allegedly accessing personal details of students from the Student Academic Management System (SAMS) portal and using the information to contact applicants and their parents. By referring to candidates’ application details, they attempt to appear credible before asking for payments through digital transactions.

    The incident has raised concerns over the security of students’ personal data and the growing misuse of online platforms by cyber criminals. Authorities have urged students and parents not to respond to unsolicited calls, messages or emails seeking admission-related payments.

    Officials have advised applicants to complete all admission-related formalities only through the official SAMS portal and authorised institutions. They have also appealed to the public to verify any suspicious communication before making payments and to report cyber fraud attempts to the Cyber Crime Helpline or the nearest police station.

    With the admission season underway, authorities have called for heightened vigilance, warning that no legitimate admission process requires payments through unofficial channels or personal bank accounts.

  • One Glimpse, Lifetime of Blessings: Lakhs Witness Divine Hati Besha as Snana Purnima Concludes Peacefully

    Puri, June 29 (UDN): The sacred observance of Snana Purnima concluded peacefully in Puri with lakhs of devotees thronging the Grand Road to witness the majestic Hati Besha (Elephant Attire) of Lord Jagannath, Lord Balabhadra and Devi Subhadra at the Shree Jagannath Temple.

    One Glimpse, Lifetime of Blessings: Lakhs Witness Divine Hati Besha as Snana Purnima Concludes Peacefully

    Amid an atmosphere of deep devotion and spiritual fervour, devotees from across Odisha and different parts of the country gathered to catch a glimpse of the Holy Trinity adorned in the divine Hati Besha, a ritual that holds immense religious significance. The colourful and grand attire symbolises Lord Ganesha and is considered highly auspicious among devotees.

    The ceremonial bathing ritual, Snana Yatra, commenced in the morning with the deities being bathed with 108 pots of sacred water on the Snana Mandap. Following the elaborate rituals, the sibling deities appeared in the revered Hati Besha, drawing overwhelming crowds and filling the temple town with chants of devotion.

    Extensive arrangements made by the district administration, police, temple authorities and various service agencies ensured the smooth and peaceful conduct of the festival. Crowd management, traffic regulation, drinking water facilities, health services and security measures were effectively implemented, enabling devotees to participate in the festivities without inconvenience.

    Officials expressed satisfaction over the successful and incident-free completion of the festival, while devotees described the divine darshan as a once-in-a-lifetime spiritual experience.

    With the conclusion of Snana Purnima, the deities will now remain in seclusion during the traditional Anasara period before reappearing for the grand Rath Yatra.

  • ASME Launches GDTP 2018 Certification

    New credential validates design interpretation and manufacturability skills, helping engineers demonstrate competency and employers reduce errors, rework, and delays
     

    NEW YORK (June 29, 2026) – The American Society of Mechanical Engineers (ASME) has announced the launch of its updated GDTP 2018 (Geometric Dimensioning and Tolerancing Professional) Certification, a credential designed to help engineers validate critical skills while enabling employers to improve product quality, reduce costly errors, and strengthen workforce and supply chain consistency.

    As workflows in manufacturing organizations become more complex and increasingly digital, engineering teams face a growing need for professionals who can clearly communicate design intent and apply precise tolerancing requirements. The GDTP 2018 certification directly addresses that need by aligning with the latest ASME Y14.5-2018 standard, the authoritative framework for geometric dimensioning and tolerancing used across high‑precision industries. It establishes symbols, rules, definitions, requirements, defaults, and recommended practices for stating and interpreting GD&T and related requirements for use on engineering drawings, models defined in digital data files, and in related documents.

    The certification provides engineers with standardized proof of knowledge while giving employers confidence that teams can execute design, manufacturing, and inspection work with consistency and accuracy. Demand for GD&T expertise is rapidly increasing with advances in manufacturing technologies, global supply chains, and the adoption of digital product definition practice. GDTP 2018 helps close persistent skills gaps by improving workforce readiness and reducing ambiguity that can lead to scrap, rework, and production delays.

    “The ability to apply GD&T correctly is fundamental to modern engineering,” said ASME Director of Learning Experience and Excellence Mair DeMarco. “With GDTP 2018, we are equipping professionals with a credential aligned to the current standard while giving employers a reliable way to ensure their workforce can deliver high‑quality, consistent results that improve their bottom line.”

    Career Value for Engineers

    For engineers, the certification offers a clear pathway to demonstrate technical competence and advance professionally. It supports increased employability, stronger peer recognition, and greater confidence in applying GD&T principles within modern digital workflows.

    The program includes two levels: Technologist and Senior, allowing both early-career and experienced professionals to validate their skills, from interpreting engineering drawings to designing and implementing tolerancing strategies. Certification is valid for three years, with recertification options available. 

    Built for Digital Engineering and Workforce Development

    Designed for today’s engineering environment, GDTP 2018 reflects the growing importance of Model-Based Definition (MBD) and Product Manufacturing Information (PMI), where standardized, machine‑readable tolerancing is essential. The certification is part of a broader ecosystem that includes updated exams, study materials, and preparation resources, providing a more guided and accessible candidate experience.

    For employers, the program supports scalable workforce development by offering a consistent, standards‑aligned framework for building and measuring GD&T competency across teams.

  • JP Nadda launches WhatsApp-based Ayushman Sarathi chatbot, unified drug registry

    June 29: Union Health Minister J.P. Nadda has launched the Ayushman Sarathi WhatsApp chatbot along with a Unified Drug Registry to make healthcare services more accessible and digitally connected.

    The WhatsApp chatbot will help citizens easily access information about government health schemes, hospital services, eligibility, and other health-related queries in a simple and quick way.

    The Unified Drug Registry will act as a central digital system to track medicines and improve their availability, monitoring, and regulation across the healthcare system.

    Officials said the initiative aims to make healthcare services more transparent, efficient, and citizen-friendly by using widely accessible digital platforms.

  • Lightning strike damages dome of Jaleshwarnath Mahadev Temple in Darbhanga

    June 29: A lightning strike has damaged the dome of the historic Jaleshwarnath Mahadev Temple in Darbhanga, Bihar, on Sunday amid adverse weather conditions.

    The impact of the strike caused visible damage to the upper structure of the temple. Fortunately, no injuries or casualties were reported in the incident.

    Local authorities have been informed and an assessment of the damage is currently underway. A detailed inspection will be carried out to determine the extent of repairs needed, following which restoration work is expected to begin.

    Officials said necessary steps will be taken to ensure the safety of devotees visiting the temple, especially given the ongoing monsoon conditions.

    The temple, which holds significant religious and cultural importance, continues to attract devotees throughout the year, particularly during major festivals.

  • Government Examining Facts in Naba Das Murder Case, Says BJP State President

    Bhubaneswar, June 29 (UDN): The Odisha government is closely examining all facts and circumstances related to the high-profile Naba Das murder case, BJP state president Manmohan Samal said on Sunday.

    Government Examining Facts in Naba Das Murder Case, Says BJP State President

    Speaking to reporters, Samal stated that the government is reviewing all available information pertaining to the case and assured that appropriate steps would be taken based on the findings.

    “The government is examining the facts related to the case,” he said, while responding to queries regarding the progress of the investigation into the murder of former Health Minister Naba Das.

    The statement assumes significance amid continued public and political interest in the case, with various quarters demanding a comprehensive probe to unravel all aspects surrounding the sensational killing.

    Naba Das was shot at by a police ASI during a public programme in Jharsuguda in January 2023 and later succumbed to his injuries while undergoing treatment.

    The murder case has remained a major political issue in the state, with opposition parties and family members of the deceased repeatedly seeking further investigation into the incident.

    Meanwhile, the government has reiterated its commitment to ensuring that all facts related to the case are thoroughly examined in accordance with the law.

    Further developments in the matter are awaited.