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PS5 and Xbox Series X surprise reveal as key specs leak for BOTH consoles

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What’s going to be the better console: PS5 or Xbox Series X? It’s certainly an argument that’s been waged across quite a few message boards in recent months, as Xbox Series X was officially unveiled to the world. Meanwhile, a series of leaks and sly comments by Sony execs have given us an inkling as to what the PlayStation 5 will be capable of.

However, we still don’t know which will be the better buy. Although the Xbox will come with no exclusive games at launch, if it proves to be the more powerful console in the long term, it could hurdle this barrier. Although some PS5 games will be exclusive, this is no guarantee of power. The stakes are high. And now, thanks to a recent link, we could finally have the answer we’ve been looking for.

Posted on 4chan’s /v/ gaming board, the anonymous leaker posts what they claim to be specifications from the second, revised development kits, which means if true, these specs won’t be too far off the finished product. 

One the one hand, 4chan’s lack of accountability means it’s awash with misinformation. However, a leaker posting on the same board last month correctly predicted PlayStation’s new tagline: “it’s time to play”. The tagline, incidentally, was hidden among a smorgasbord of PS5 info also disclosed by the same leaker, so we won’t write anything off just because of the source.

The specs adhere closely to some of the rumours previously heard about the consoles, with the Series X being incrementally more powerful while the PS5 is set to edge it out in the GPU stakes. 

Both consoles appear to have cores dedicated to ray tracing, the GPU technology that creates incredibly immersive, realistic environments. However, the PS5 also includes dedicated 3D sound cores too, something the Series X appears to lack.

As stated above, take this info with a whole heap of salt. In addition, although the kits are fairly advanced in the development process, things could change between now and release. We can’t wait until the PS5 is officially revealed and both consoles’ gamepads are in our hands, so we can compare them side-by-side. Not long now…

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From COVID-19 to Inclusion: Fintech Faces New Challenges

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In the middle of the first month of the year, one of the biggest names in the payments business acquired one of the most innovative fintech infrastructure companies in the industry, in a deal valued at more than $5 billion.

Six months later, Visa’s acquisition of Plaid almost seems like news from another time.

The arrival of the coronavirus to virtually every corner of the globe – and the worldwide response to the killing of a black man in police custody in the U.S. – have sent shock waves through the fintech industry – as they have the rest of the world. Now, at the same time, fintech is engaged in both the struggle to help businesses and consumers cope with the closures and shelter-in-place restrictions of the COVID-19 crisis, as well as the challenge of correcting decades of discriminatory practices against African Americans and members of other underrepresented ethnic groups. As we approach the middle of 2020, fintech is facing different kind of crisis that, while not of its own making, will require a response that is uniquely tailored to the world it operates in.

This is a world that is both heavily technical, relying on the latest innovations in machine learning, artificial intelligence, and distributed ledger technology, while simultaneously pledging to bring the benefits of 21st century financial services to the underbanked and underserved populations of both post-industrial and developing economies. This is a world that has grown tremendously through the contributions of people from diverse backgrounds, representing cultures from almost every corner of the globe. Yet, at the same time, it is a world that is still struggling to achieve true gender and ethnic diversity, particularly in the C-suite and in the boardroom.

There are many ways to value an industry: the quality of the goods it produces; the entertainment, education, or simple well-being its services provide; even just the degree of pure, gee-whiz innovation the industry may deliver, often seeming to grant us what we want even before we summon up the nerve to wish for it.

But as the fintech industry edges closer, inexorably, toward maturity, it now finds itself increasingly judged on the kind of criteria Corporate America – often to its own surprise and bewilderment – can find itself judged on from time to time. This is a judgement that has less to do with what Corporate America makes and sells, and more with who Corporate America is and what it values.

Both the global public health crisis and the renewed determination to fight racial inequality are providing fintech as an industry with an opportunity to show the world just what it’s made of. As we move into the second half of this historic year, I am hopeful and optimistic that fintech will rise to the challenge.

Source: https://finovate.com/from-covid-19-to-inclusion-fintech-faces-new-challenges/?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_campaign=Weekly_2020-06-25_08:15:00&utm_content=646536&utm_medium=FeedBlitzEmail&utm_campaign=Weekly_2020-06-25_08:15:00&utm_content=646536

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Mastercard to Acquire Finicity in $825 Million Deal

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For a year that began with Visa’s headline-making acquisition of Plaid, it seems almost poetic that near 2020’s midway mark, Mastercard would make a major fintech bid of its own.

The company has agreed to acquire Finicity, a real-time financial data and analytics provider and long-time Finovate alum, in a deal valued at nearly $1 billion. This figure represents a combination of the $825 million purchase price of the Salt Lake City, Utah fintech, as well as a potential earn-out for Finicity’s existing shareholders – subject to the company meeting certain performance targets.

“Since our founding, Nick Thomas and I have focused on developing industry-leading technology and building an organization that empowers consumers and organizations to better understand, manage, and use their financial data to improve their financial lives,” Finicity co-founder and CEO Steve Smith said. “Enabling people to access and control their data, while ensuring best practices to protect that data, will continue to drive tremendous innovation that increases financial literacy, inclusion, and health. This partnership with Mastercard helps us accelerate this mission globally.”

Mastercard President Michael Miebach cited open banking as one of the reasons for the company’s interest in Finicity. Referring to open banking as both a “growing global trend” and a “strategically important space,” Miebach praised Finicity’s ability to leverage open banking APIs to enable financial data and insights to streamline lending and mortgage processes, account-based payment initiation, and other PFM services. He also credited the company for its focus on the data rights of the consumer.

“(Finicity) shares our commitment to consumer-centric data practices, ensuring consumers have a say in how and where their information should be used,” Miebach said.

Founded in 2000, Finicity provides financial data APIs, credit decisioning tools, and financial wellness solutions that help financial institutions and fintechs better serve their customers. The company’s technology helps power solutions like Experian Boost and Rocket Mortgage from Quicken Loans. Named a Best Place to Work in Fintech by American Banker for the last three consecutive years, Finicity began 2020 partnering with SaaS-based marketing automation, CRM, and POS solution provider for banks and mortgage companies, Volly.

Source: https://finovate.com/mastercard-to-acquire-finicity-in-825-million-deal/?utm_source=feedblitz&utm_medium=FeedBlitzEmail&utm_campaign=Weekly_2020-06-25_08:15:00&utm_content=646536&utm_medium=FeedBlitzEmail&utm_campaign=Weekly_2020-06-25_08:15:00&utm_content=646536

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Apple’s chips to overcome Intel silicon “valley”

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After years of rumours, it’s now official: Apple is breaking up with Intel.

At its Worldwide Developers Conference 2020, which kicked off on Monday, Apple announced plans to sell Mac computers using its own processors beginning this year, moving away from Intel’s chips. The news sent Apple to a new all-time high with a year-to-date climb that has now exceeded 22 percent.

Intel’s stock still managed to track broader gains in US stock markets, although it remains some 13 percent below its year-to-date high.

The breakup of the 15-year relationship however carries more symbolic value than financial pain.

In its 2019 financial year, Mac computers accounted for less than 10 percent of Apple’s total revenue. Over the prior three financial years (FY 2016-2018), fewer than 20 million MAC computers were sold per FY, which is less than half of the total number of iPads sold. iPhones remain the company’s primary hardware product, making up about 77 percent of total units sold, while accounting for more than half of total revenue according to Bloomberg data. Meanwhile, it’s estimated that the Mac line of computers accounts for less than five percent of Intel’s annual revenue.

While this latest move appears to be chipping away at Intel’s position as the world’s largest chipmaker, Apple’s own position is also being challenged.

The Cupertino-based company is facing a backlash from third-party developers who will play a crucial role in ensuring that apps can still function well on the new Macs that are set to be powered by Apple’s own processors by year-end. Apple however appears to have extended an olive branch to the developer community on Monday by allowing them to challenge App store policies.

At the same time, US and European regulators are scrutinising Apple’s policies over its App Store, which contributed about 18 percent of Apple’s total revenue in the 2019 fiscal year, a figure which exceeded US$ 46 billion. The iPhone maker is also still contending with the ill effects of the coronavirus pandemic. Just last week, Apple announced that it will reclose 11 stores in Florida, Arizona, North Carolina, and South Carolina amid a resurgence in Covid-19 cases. While the immediate impact appears minor for the time being, a larger wave of US lockdowns could erode Apple’s sales, considering its reliance on hardware sales.

Even when faced against such headwinds, markets are still holding up Apple as the world’s most valuable company, with a market cap of US$1.555 trillion. Given the grip it has over its software and hardware ecosystems, Apple’s shares are expected to ride out potential valleys to come and climb onto loftier peaks.

Source: https://www.forextime.com/market-analysis/apples-chips-ride-out-intels-silicon-valley

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