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FICO is partnering with Historically Black Colleges and Universities (HBCUs) to educate the next generation of data scientists. According to a news release, the global analytic software company is bringing back its FICO® Educational Analytics Challenge for the second year. This will give students the opportunity to engage with real-world challenges in artificial intelligence (AI) and analytics, inspiring them to develop innovative solutions. This year’s challenge will center on empowering students to combat payment transaction fraud by tasking them with developing a robust fraud detection model. Students will be supported by Dr. Scott Zoldi, chief analytics officer at FICO, and his team of data scientists, who will also teach and mentor participants. Additionally, they will be given financial assistance and resources for internship opportunities. The FICO® Educational Analytics Challenge will expand to the following educational institutions in Spring 2025: F. Drake State Community...
Waza has raised $8 million to improve the financial technology sector in Africa. TechCrunch mentions that emerging economies tend to buy more from other countries than they sell, leading to an increase in demand for U.S. dollars to trade internationally. Combined with limited supply, trading can be more expensive. The outlet also notes that Africa’s lack of technological solutions worsens the issue. Thus, Waza’s efforts are timely for Africa because it exists to ensure Africa-based companies and traders can have liquidity and more seamless B2B payments using U.S. dollars, euros, and Great Britain pounds, per the company website. Within its first month of operations, the company’s payment volume reached $280,000, according to TechCrunch. In May 2024, those numbers had dramatically increased, with $70 million in monthly payment volume equating to $700 million in annualized transaction volume, Co-Founder and CEO Maxwell Obi confirmed to TechCrunch. “Cross-border payments in the context...
A donation has been made to the Shaquille O’Neal Foundation to benefit the youth. According to the Las Vegas Review-Journal, Clark County commissioners in Las Vegas, Nevada, have approved a vote to donate a 4.81-acre parcel of vacant land to the Shaquille O’Neal Foundation to build a new Boys & Girls Club. The Clark County location is projected to cost $16 million and will “provide youth with academic and personal development resources,” according to the Las Vegas Review-Journal. Additionally, it aims to support college and career readiness opportunities. At the time of this writing, it is unclear when the foundation will break ground on the project. However, once the new Boys & Girls Club is complete, the foundation’s obligations will include providing Clark County with annual reports on what programs are available, insights on fundraising efforts, and logistics regarding how many clients it has serviced, The Blast reports. The Shaquille O’Neal Foundation was created in 2019 to...
North Carolina’s Fayetteville State University has landed a whopping donation set to support its students further. WTVD-11 reports that the HBCU received an anonymous donation of $750,000. The donation will aid Fayetteville State University’s free summer school called 30/60/90. The outlet details that the summer school program works to assist students with decreasing their student debt. What’s more, it focuses on students earning their degrees early. According to the summer school program’s website, the scholarship covers two courses or up to seven credit hours for undergraduate students, one course or up to three credit hours for graduate and doctoral students in the College of Education, book rental fees, other fees, and on-campus housing and meals. “The financial aid, they help me,” Deborah Cathcart, a rising sophomore student at Fayetteville State University, said per WTVD-11. She continued, “It helps me so much…this school, they introduce such an easy and just a practical way...
Black Tech Nation Ventures (BTN.vc) has recently received new funding to further champion Black tech entrepreneurs. As previously reported by AfroTech, the VC fund’s mission is to invest in Black and diverse-led startups across the nation. To continue doing just that, F.N.B Corporation is making a $2.5 million equity commitment to BTN.vc, according to The Business Journal. “We are happy to be in partnership with FNB and appreciate their commitment to support Black Tech Nation Ventures’ mission to democratize access to VC capital and generate wealth for marginalized communities,” founding partner of BTN.vc Kelauni Jasmyn said, according to the outlet. As aforementioned by Jasmyn, the corporation’s funding “advances the company’s efforts to encourage growth in low– to moderate-income and marginalized communities.” “Black Tech Nation Ventures has a proven leadership team and a mission that aligns with our own focus on providing resources for diverse communities,” said Vincent J. Delie...
Jay-Z just backed premier beauty brand Madison Reed in an investment totaling $33 million, Forbes reports. The round was led by Sandbridge Capital and Jay-Z’s Marcy Venture Partners also participated in the round. What’s more, the investment brings the San Francisco-based company’s total capital to nearly $220 million, according to Bloomberg.