Ukraine's New Premier Eyes Fresh IMF Loan for War-Racked Budget
Yuliia Svyrydenko, a 39-year-old ally of President Volodymyr Zelenskiy who became Ukraine's second female head of government last week, laid out the budget squeeze in stark terms. Global donors have so far earmarked only half of the estimated $75 billion that the war-strained budget requires over the next two years, she said.
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Yahoo
24 minutes ago
- Yahoo
SEALSQ and Wecan Highlight Strategic Advantages of Quantum Readiness to Empower Swiss Banks and Insurers
Geneva, Switzerland, July 24, 2025 (GLOBE NEWSWIRE) -- SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI, and Post-Quantum technology hardware and software products, today announced the strategic advantages that Swiss financial institutions can gain by adopting quantum technologies early, particularly through SEALSQ's ongoing cooperation with Wecan, a Swiss-based provider of secure digital infrastructure for financial institutions. Quantum computing is rapidly emerging as a foundational technology poised to reshape and transform the global financial system. As traditional systems reach their computational limits in areas such as risk modeling, option pricing, and fraud detection, quantum algorithms are expected to deliver exponential improvements in processing speed and analytical power. Swiss banks and insurance firms, long respected for their precision and security standards, are uniquely positioned to leverage these advances. 'Swiss banks and insurers operate at the highest global standards, and quantum technologies will help them stay there,' said Carlos Moreira, CEO of SEALSQ. 'Our partnership with Wecan ensures that the foundations of trust, privacy, and compliance are not only preserved but significantly strengthened in a post-quantum era.' 'Quantum is no longer a distant concept, it's a near-future infrastructure opportunity,' said Vince Pignon, CEO of Wecan. By investing now, Swiss institutions can secure first-mover advantages, redefine how risk is managed, and enhance their cyber-resilience in the face of increasingly complex threats.' One of the most promising areas is stochastic simulation, where quantum computing can dramatically accelerate calculations used to price derivatives, measure value at risk, and forecast liquidity needs. These tasks, which require vast computational power when uncertainty is multidimensional, can be optimized with Quantum Monte Carlo methods and Quantum Amplitude Estimation. In parallel, financial fraud is evolving into dynamic, adaptive behavior patterns spread across vast transaction networks. Traditional models are struggling to keep up. Quantum machine learning techniques offer the ability to map this data into high-dimensional spaces, uncovering anomalies that often are undetectable by classical systems. To support this evolution, SEALSQ is working closely with Wecan to develop quantum-ready cybersecurity solutions that secure critical infrastructure and ensure regulatory compliance. Wecan's secure communication and compliance platforms, already trusted by over 100 financial institutions, are being integrated with SEALSQ's post-quantum cryptographic chips, paving the way for a secure transition into the quantum era. As part of this transformation, Wecan is also advancing tokenized compliance frameworks through the Wecan Token, a decentralized credential system designed to streamline auditability, identity, and permissions across financial ecosystems. By embedding quantum-resilient security standards from SEALSQ at the core of the Wecan processes, both companies are enabling a next-generation layer of digital trust for the financial industry and beyond. 'The Wecan Token is our response to the financial industry's need for secure, programmable compliance,' said Mr. Moreira. 'By combining the optimization of KYC and KYB compliance processes with post-quantum security, we're not just preparing for the future, we're helping financial institutions own it.' About WecanWecan is a Swiss-based technology provider offering secure data sharing, messaging, and compliance solutions. Its platform is used by private banks, independent asset managers, and trustees across Switzerland and Europe, delivering digital trust across highly regulated industries. About SEALSQ:SEALSQ is a leading innovator in Post-Quantum Technology hardware and software solutions. Our technology seamlessly integrates Semiconductors, PKI (Public Key Infrastructure), and Provisioning Services, with a strategic emphasis on developing state-of-the-art Quantum Resistant Cryptography and Semiconductors designed to address the urgent security challenges posed by quantum computing. As quantum computers advance, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are increasingly vulnerable. SEALSQ is pioneering the development of Post-Quantum Semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including Multi-Factor Authentication tokens, Smart Energy, Medical and Healthcare Systems, Defense, IT Network Infrastructure, Automotive, and Industrial Automation and Control Systems. By embedding Post-Quantum Cryptography into our semiconductor solutions, SEALSQ ensures that organizations stay protected against quantum threats. Our products are engineered to safeguard critical systems, enhancing resilience and security across diverse industries. For more information on our Post-Quantum Semiconductors and security solutions, please visit Forward-Looking StatementsThis communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipate will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC. SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. SEALSQ MoreiraChairman & CEOTel: +41 22 594 3000info@ SEALSQ Investor Relations (US)The Equity Group CatiTel: +1 212 836-9611 lcati@ in to access your portfolio
Bloomberg
27 minutes ago
- Bloomberg
Apollo Leads £600 Million Private Debt to Back Mydentist Buyout
By and Kat Hidalgo Save Apollo Global Management is leading a £600 million ($812 million) private credit package for UK dental chain Mydentist, people with knowledge of the matter said. KKR & Co.'s private credit arm will join Apollo in lending to the business to support its buyout by private equity firm Bridgepoint Group, the people said.
Forbes
27 minutes ago
- Forbes
The Future Of Banking Apps: How AI Is Reshaping Development
Roman Elsohvili is the Founder and CEO of XData Group, a B2B software development company with a focus on the European banking sector. The digital banking market continues to boom. Dimension Market Research has projected that it will reach $31.3 billion by 2033. However, growth doesn't just happen by itself. The real champion behind this story is technology—more specifically, AI. AI is consistently gaining a greater impact on banking and fintech. It's fundamentally changing how applications are being developed, services are delivered and risks are managed. Let's take a closer look at how this works and what challenges are still ahead. The AI-Powered Toolbox: What's Driving Real Change? Ask any fintech founder or bank CTO about where AI is making the biggest difference today, and a few clear answers are likely to come up—customer-facing chatbots, document generation, compliance automation and so on. In onboarding, for example, AI can help automate document checks and ID verification, drastically cutting down the time it takes to bring in new clients. In compliance and transaction monitoring, AI can perform retrospective analysis, flagging unusual behavior even if it doesn't fit preprogrammed patterns. This helps reduce false positives, which have long been a plague for compliance teams. In customer service, AI-driven chatbots powered by large language models can handle routine queries, support customers 24/7 and often outperform human agents in both speed and consistency. In credit scoring, machine learning (ML) models can evaluate a much broader range of data points, including alternative sources like mobile phone usage or utility bills. This results in faster, more accurate lending decisions and improved risk management. When it comes to fraud prevention, AI is essential. With bad actors also using AI tools to improve their tactics, the industry has no choice but to adopt this tech to match the rising threat level. Why Banks And Fintechs Must Invest In Better Apps Let's be honest: If your app isn't good, you're not in the game. Today, the mobile or web application is the main gateway between a financial service provider and its customers, and users' expectations are very high. They compare your app not to the bank next door but to the best experience they've ever had—often from agile fintechs that put a lot of focus on smart, intuitive interfaces. It's no surprise that players stuck with legacy systems are feeling the pressure. According to OutSystems' State of Application Development Report, nearly half of surveyed financial institutions cited outdated technology as their top innovation barrier, and over half reported that a lack of skilled developers was holding them back. As a result, this is also a space where AI can play a prominent role. How AI Is Reshaping The Way Applications Are Built Setting aside customer-facing features, AI is changing the very architecture of fintech applications. Today, more and more companies are moving to design their applications with AI in mind from day one. Data flows are structured to feed ML models, and the architecture is set up to integrate with internal or third-party ML services. This makes it easier to build smart features directly into the app, from personalized financial advice to automated document review. For developers, AI is also a powerful productivity booster. From writing code snippets to generating test cases, it speeds up workflows and helps smaller teams ship faster. Tools are already available on the market that make it possible to build and deploy models without deep AI expertise. There's also a strategic element to consider here. AI models are becoming more affordable, and leading companies are already planning features that may not be cost-effective today but likely will be in just a few months. It's a smart way to future-proof the roadmap. Not All Smooth Sailing Of course, AI adoption comes with challenges—technical, regulatory and ethical. The biggest hurdle is data. Training robust AI models requires large, high-quality datasets. Established companies might have access to years of support chat transcripts or billions of transactions, but younger fintechs often don't. That's a tough gap to bridge. There's also the issue of regulation. With Europe's AI Act and other global frameworks emerging, fintechs and banks are under pressure to ensure transparency and accountability in how their AI makes decisions. "Black box" systems just won't cut it—especially in compliance and AML, where regulators need to understand the rationale behind every flagged transaction. Security is another concern. When using external APIs or non-self-hosted AI models, protecting sensitive financial and customer data becomes even more critical. Once again, explainability is a must—not just for regulators but for internal teams and end users as well. The good news is that there are ways to tackle these challenges. Addressing The Challenges Proactively First, responsible AI design starts with anticipating regulatory demands. The smarter fintech companies are already building explainability and transparency into their AI systems, documenting decision making steps and auditing model performance to detect bias or drift. Techniques like explainable AI (XAI), which generate human-readable justifications for decisions, are becoming more common. These might look like simple cause-and-effect summaries that show why a transaction was flagged or why a loan was denied. In high-stakes use cases like compliance or AML, many companies still leave the final decision to a human and use AI as a decision-support tool rather than a full replacement. The road ahead is still long, and we shouldn't expect AI to solve every problem a business has to deal with, but it's already solving many of them. For banks and fintechs willing to experiment, invest and learn quickly, the payoff can be huge—smarter applications, happier customers, faster development and better compliance. In a market where your app is your handshake, storefront and sales pitch all in one, using AI to make it better isn't just an option. It's the path forward. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
