Perfios feels the heat; Fixing India's logistics problems
The fintech and banking landscape is grappling with fluctuating interest rates, geopolitical instability, and a more cautious lending environment.
Hello,
Interesting times ahead for neurotechnology!
In what appears as a challenge to Elon Musk’s Neuralink, researchers in China say they have been able to reverse paralysis in patients with spinal cord injuries.
For decades, paralysis from such injuries was considered irreversible. In a groundbreaking clinical trial, Shanghai’s Fudan University said its researchers have successfully enabled four paralysed patients to regain control of their legs just hours after undergoing minimally invasive surgery.
While Musk’s brain computer interface (BCI) hitches patients with a computer, China’s brain-spinal tech reignites nerves.
Truly, it’s the stuff of science fiction.
Speaking of Neuralink, meet the man who has a mind-reading chip inside his brain.
Meanwhile, humanoid robots are on their way to factories. NVIDIA CEO Jensen Huang said last week robots are less than five years away from seeing wide use in manufacturing facilities.
Lastly, nothing could have us prepared for the alarm clock app that forces users to watch an advertisement for three minutes to hit a snooze button!
A foolproof way to wake up on time–but at what cost?
In today’s newsletter, we will talk about
- Perfios feels the heat
- Fixing India’s logistics problem
Here’s your trivia for today: In which city can you find the famed Arch of Hadrian?
Fintech
Perfios feels the heat
Banking technology provider Perfios is navigating challenges in the financial services industry as
uncertainty in unsecured lending market volatility is affecting businesses.
"Every industry in India is going through challenges," said Sabyasachi Goswami, CEO of Perfios. "Does the broader financial and economic slowdown have an impact? Absolutely—since we are deeply embedded in this ecosystem."
Tough times:
- The fintech and banking landscape is grappling with fluctuating interest rates, geopolitical instability, and a more cautious lending environment.
- Perfios has been focusing on AI-driven risk assessment, automation in fraud detection, and expanding its suite of financial analytics tools. The company sees a long-term opportunity to strengthen its technological capabilities to serve banks and NBFCs more effectively.
- The firm, which became a unicorn a year ago, has been consistently acquiring companies that align with its long-term vision of becoming the “operating system” of the BFSI (banking, financial services, and insurance) industry.
Startup
Fixing India’s logistics problem
To tackle inefficiency in supply chains, Gurugram-based logistics startup TrucksUp has introduced an AI-driven freight-matching platform aimed at optimising truck utilisation and reducing empty miles.
By leveraging AI algorithms, the startup connects truckers with shippers in real-time, enabling truckers to list their availability and routes while businesses post freight requirements.
Driving efficiency:
- TrucksUp was founded in 2024 by Sarthak Elwadhi and Aviraj Chadha, who have a deep-rooted connection to the logistics sector.
- By eliminating middlemen, TrucksUp enables truckers to earn up to 20% more per trip, while shippers reduce logistics costs by 15%, the company says.
- The startup recently launched TrucksHub, a platform for buying, selling, and exchanging trucks with verified listings and financing options.
News & updates
- Crypto: Binance CEO Richard Teng says the Trump administration has been a “fantastic” reset for the cryptocurrency industry. “It’s an extremely different environment that we’re operating in,” Teng told CNBC on Tuesday.
- Instability: Chinese Premier Li Qiang urged countries to open their markets to combat "rising instability and uncertainty" at a business forum in Beijing on Sunday, as China braces for further U.S. tariffs.
What you should watch out for
- IPO Watch: While the mainboard segment of the primary market won’t see much action this week as no new initial public offerings (IPOs) is scheduled to open for subscription, the SME segment will witness four new public issues. These include Desco Infratech, Desco Infratech, ATC Energies and Identixweb.
- Trump tariff: The world will closely watch US president decision of imposing reciprocal tariffs on other countries. Investors will also keep an eye on the final US GDP numbers for December quarter 2024 due on March 27.
In which city can you find the famed Arch of Hadrian?
Answer: Athens, Greece.
We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected].
If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.