Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Fintech-as-a-Service Platform Market Size is Set to Hit Nearly US$ 1 Trillion by 2028 | Global Technology, Revolutionizing Financial Services

Published

on

Washington, DC, June 13, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Global Fintech-As-A-Service Platform Market Segmentation By Technology (Artificial Intelligence, And Blockchain), By End-Use (Investment Banking, Retail Banking, Insurance, Stock Trading Firms, Hedge Funds, And Others), By Type (Fund Transfer, Payments, Personal Loans, Personal Finance, And Others), By Application (Compliance And Regulatory Support, KYC Verification, And Fraud Monitoring) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.

Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Fintech-as-a-Service Platform market is likely to expand at a CAGR of around 17% during the forecast period (2022-2028).                  
  • In terms of revenue, the Fintech-as-a-Service Platform market size was valued at around US$ 232.17 billion in 2021 and is projected to reach US$ 949 billion by 2028.
  • Banking and finance sector investments to improve customer experience are predicted to drive the global fintech-as-a-service platform market.
  • Based on end-use segmentation, insurance was predicted to show maximum market share in the year 2021
  • Based on application segmentation, compliance and regulatory support were the leading revenue-generating segment in 2021.
  • On the basis of region, North America was the leading revenue generator in 2021.

“According to the latest research study, the demand of global Fintech-as-a-Service Platform Market size & share in terms of revenue was valued at USD 232.17 billion in 2021 and it is expected to surpass around USD 949 billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 17% during the forecast period 2022 to 2028.”

What is Fintech-as-a-Service Platform? How big is the Fintech-as-a-Service Platform Industry?

Report Overview:

The global fintech-as-a-service platform market size was worth around USD 232.17 billion in 2021 and is predicted to grow to around USD 949 billion by 2028 with a compound annual growth rate (CAGR) of roughly 17% between 2022 and 2028.

The fintech-as-a-service platform allows a company to utilize a fintech application programming interface (APIs) to embed various financial capabilities into the company’s already existing products, applications, and other services. FaaS platforms enable white-labeled payment acceptance, card issuing, e-wallet platforms, identity verification, payouts & remittances, merchant services, virtual accounts, fraud detection, and other customer-oriented services. With the aid of a fintech-as-a-service platform, organizations load to develop infrastructure, licensing & compliance, integration of disparate financial systems, and other related activities are undertaken by a third party thus improving the company’s operational efficiency. FaaS platforms have managed to change the traditional banking methods and have propelled them towards a more future-oriented approach.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs – https://www.zionmarketresearch.com/sample/global-fintech-as-a-service-platform-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 214+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Fintech-as-a-Service Platform Market: Growth Dynamics

A lot of fintech players are now offering their APIs to other key players in the global market which has resulted in higher growth in the field of fintech-as-a-service platforms. Leveraging from the benefits offered by these systems has proven to aid companies to enhance their end-to-end processes and systems. Since FaaS platforms allow complete management and delivery of final results, the global market has managed to leave a long-lasting impact on the international finance industry. Many leading research papers have emphasized the importance of adopting FaaS platforms, especially for financial institutions. The advanced technology is capable of automating the entire lending process where minimum human intervention is needed to complete the protocol. The systems also allow streamlining of the documentation process which is an integral part of safe financial transitions. These are processes that take a long time but are important at the same time. By making use of technology to automate these processes, leaving no room for error, organizations will be capable of reducing the turnaround time for the entire procedure and staying in the competition.

Covid-19 left a positive impact on the global market cap. This was propelled by the regulations laid down by governments to maintain social distancing. Since the majority of the banks or financial institutions were physically closed for operations, there was a rise in demand for digitizing almost all segments of the banking and financial institutions. The higher FaaS adoption rate was witnessed in 2020 and 2021 because of stringent regulations restricting the transportation and movement of people.

The global fintech-as-a-service platform market is expected to grow owing to the rising number of users utilizing mobile applications for financial transactions. The increase is aided by the rise in the number of smartphone manufacturers offering intelligent phones at reasonable prices which in turn has aided the global market penetration by increasing customer reach even at remotest locations. According to Emizentech statistics, more than 44% of the global transactions were carried out through mobile applications. Tipalti Inc. stated that more than 64.2% of the consumers in the finance sector use some form of fintech-as-a-service platform. Looking at the high potential of the global market, more FaaS platform providers can be witnessed entering the market. As of 2022, India has more than 6,600 FaaS-related startups and the number is predicted to grow further in the coming years. In November 2021, the USA had over 10,755 fintech unicorns as per reports published by Statista.

The credibility issues along with regulation compliance may restrict global market expansion. The FaaS providers creating customized services are expected to provide global market growth opportunities during the forecast period. The data privacy and security issues are anticipated to challenge global market cap growth.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/global-fintech-as-a-service-platform-market

Fintech-as-a-Service Platform Market: Restraints

End users typically have a predisposition towards a general lack of faith towards the entire adoption of fintech-as-a-service (FaaS) systems. This is due to the fact that fintech-as-a-service platforms deal with extremely large sums of money. It is anticipated that the widespread pessimism would slow the expansion of the worldwide market.

FaaS solutions are designed to meet the needs of financial institutions and handle monetary transactions. They are required to properly adhere to the many different laws that have been put in place for financial or other related institutes in order to achieve higher levels of trust. The government of each country has its own set of compliance regulations, which might be very different from one another. When corporations from the United States strive to expand their operations into other nations or when international transactions are involved, the difficulty arises. It is anticipated that the global market will be prevented from reaching its full potential as a result of such limited growth.

Fintech-as-a-Service Platform Market: Opportunities

The rise of digitalisation has resulted in a change in consumer demands away from traditional necessities and towards more contemporary ones. Because of the dramatic shift in requirements placed on consumers, fintech-as-a-service platform providers have been urged to develop individualised solutions for their customers. As a result of the ever-evolving nature of customer demands, which are in turn spurred by the continuous innovations that financial institutions undertake to keep one step ahead of the competition, it is anticipated that this trend will present a large number of adequate and lucrative growth opportunities in the global market.

It’s possible that an increase in international payments may also spur more use of platforms that provide services as a subscription. A higher acceptance of these services is indicated by the fact that more than forty percent of large businesses use platforms that provide fintech as a service for real-time payments.

Fintech-as-a-Service Platform Market: Challenges

Due to the fact that both fintech efforts and FaaS platforms deal with sensitive data relating to money and user information, they are very susceptible to many types of security assaults. The privacy of customers’ financial information was not much of a concern when traditional banks were more physically present. However, now that all kinds of data are being transmitted to online platforms, the security risk is increased. In order to keep its customers’ personal information safe, the platform that provides fintech as a service must guarantee that its security measures are of the highest possible standard. In the event that platforms are unable to do so, a data breach may have enormously detrimental effects, which may result in significant clients abandoning their trust in these services.

Report Scope

Report Attribute Details
Market Size in 2021 USD 232.17 billion
Projected Market Size in 2028 USD 949 billion
CAGR Growth Rate 17% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Mastercard Incorporated, Rapyd Financial Network, PayPal Holdings, Inc., Solid Financial Technologies, Inc., Railsbank Technology Ltd., Block, Inc., Synctera Inc., Upstart Holdings, Inc., Envestnet, Inc., and Braintree
Key Segment By Technology, By End-Use, By Product Type, By Application, And By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Fintech-as-a-Service Platform Market: Segmentation Analysis

The global fintech-as-a-service platform market is segmented based on end-use, technology, application, type, and region.

Based on end-use, the global market segments are investment banking, retail banking, insurance, stock trading firms, hedge funds, and others. Insurance generated over 30% of the global market revenue in 2021 because of high applications for insurance companies to handle claim processing and risk assessment.

Based on technology, artificial intelligence and blockchain are the two main global market segments. Blockchain is more widely used by maximum players. Over 28% of the global market was dominated by blockchain technology in 2021 owing to its higher use by large-scale enterprises. Benefits associated with blockchain are expected to drive segmental growth during the forecast period.

Based on application, the global market segments are compliance & regulatory, KYC verification, and fraud monitoring. In 2021, compliance and regulatory support generated 31.9% of global market revenue which was propelled by the rise in online customer support provided by financial institutions to upgrade customer service and streamline their operations.

Based on type, the global market is divided into funds transfer, payments, personal loans, personal finance, and others. Payments held around 40.20 % of the global market revenue in 202 aided by the integration of AI technology and mobile-based payment methods instead of traditional banking.

The global Fintech-as-a-Service Platform market is segmented as follows:

By Technology

  •  Artificial Intelligence
  • Blockchain

By End-Use

  • Investment Banking
  • Retail Banking
  • Insurance
  • Stock Trading Firms
  • Hedge Funds
  • Others

By Type

  • Fund Transfer
  • Payments
  • Personal Loans
  • Personal Finance
  • Others

By Application

  • Compliance and Regulatory Support
  • KYC Verification
  • Fraud Monitoring

Browse the full “Global Fintech-as-a-Service Platform Market Segmentation By Technology (Artificial Intelligence, and Blockchain), By End-Use (Investment Banking, Retail Banking, Insurance, Stock Trading Firms, Hedge Funds, and Others), By Type (Fund Transfer, Payments, Personal Loans, Personal Finance, and Others), By Application (Compliance and Regulatory Support, KYC Verification, and Fraud Monitoring) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/global-fintech-as-a-service-platform-market

Competitive Landscape

Some of the main competitors dominating the global Fintech-as-a-Service Platform market include – 

  • Mastercard Incorporated
  • Rapyd Financial Network
  • PayPal Holdings, Inc.
  • Solid Financial Technologies, Inc.
  • Railsbank Technology Ltd.
  • Block, Inc.
  • Synctera Inc.
  • Upstart Holdings, Inc.
  • Envestnet, Inc.
  • Braintree

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/global-fintech-as-a-service-platform-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for Fintech-as-a-Service Platform industry?
  • What are the main driving factors propelling the Fintech-as-a-Service Platform Market forward?
  • What are the leading companies in the Fintech-as-a-Service Platform Industry?
  • What segments does the Fintech-as-a-Service Platform Market cover?
  • How can I receive a free copy of the Fintech-as-a-Service Platform Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Technology, By End-Use, By Product Type, By Application, And By Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/7033

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

North America is projected to dominate the global fintech-as-a-service platform market owing to the presence of multiple players in this region. In the USA, 9 out of every 10 citizens use FaaS platforms for their financial transactions. The percentage of consumers in the USA grew by 88% in 2021 as compared to 58% in 2020, as per Plaid’s survey published in Fortune. The 105 fintech unicorns in this region comprise more than 45% of the global fintech unicorns. Such numbers are indicative of the potential this region holds for global market growth.

Asia-Pacific may also register high revenue majorly driven by India being claimed as the region with the highest adoption rate as of 2021. This is propelled by excellent government initiatives to drive the fintech market in the Indian territory while also assisting them to improve the global hold which is expected to drive regional growth in the coming years.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

  • In July 2021, Railsbank technology, an API developer, raised around USD 70 million during a fundraising event held by Anthos Capital, a leading US-based investment firm. With the raised funds, the company aims to dive into the fintech-as-a-service sector and improve customer experience with excellent solutions.
  • In July 2022, Finalis, a USA-based investment banking platform enabling private market participants in executing deals with complete compliance, managed to raise USD 10.7 million through seed funding with the help of various venture capital firms namely The Fund, Chaac Ventures, ANIMO Ventures, Ulu Ventures, and Tribe Capital. The raised capital is projected to propel the expansion of Finalis while also helping the development of a deal-making technologically advanced platform.

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/global-fintech-as-a-service-platform-market

FREQUENTLY ASKED QUESTIONS

  • What is Fintech-as-a-Service Platform?
  • Which key factors will influence global Fintech-as-a-Service Platform market growth over 2023-2030?
  • What will be the value of the global Fintech-as-a-Service Platform market during 2023-2030?
  • What will be the CAGR value of the global Fintech-as-a-Service Platform market during 2023-2030?
  • Which region will record the fastest growth in the Fintech-as-a-Service Platform industry globally?
  • Which are the major players leveraging the global Fintech-as-a-Service Platform market growth?

Browse Other Related Research Reports from Zion Market Research:

FinTech Blockchain Market by Provider (Middleware Providers, Application and Solution Providers, and Infrastructure and Protocol Providers), by Application (Exchanges and Remittance, Smart Contract, Payments, Clearing, and Settlement, Compliance Management/KYC, Identity Management, and Others), by Organization Size (Small- and Medium-Sized Enterprises and Large Enterprises), and by Vertical (Banking, Non-Banking Financial Services, and Insurance): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024: https://www.zionmarketresearch.com/report/fintech-blockchain-market

Artificial Intelligence (AI) In Fintech Market – By Deployment Mode (On-Premise And Cloud), By Application ((Virtual Assistant, Business Analytics & Reporting, And Customer Behavioral Analytics) And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2020 – 2026: https://www.zionmarketresearch.com/report/artificial-intelligence-in-fintech-market

Global Fintech-As-A-Service Platform Market Segmentation By Technology (Artificial Intelligence, And Blockchain), By End-Use (Investment Banking, Retail Banking, Insurance, Stock Trading Firms, Hedge Funds, And Others), By Type (Fund Transfer, Payments, Personal Loans, Personal Finance, And Others), By Application (Compliance And Regulatory Support, KYC Verification, And Fraud Monitoring) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028: https://www.zionmarketresearch.com/report/global-fintech-as-a-service-platform-market

Online Poker Market By Device Type (Mobile And Desktop), By End-User (Gambling Enthusiasts, Dabblers, And Social Exuberant) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/online-poker-market

U.S. Registered Nurses Market By End-User (Ambulatory Healthcare Services, Hospitals, Nursing Homes, And Others), By Gender (Male And Female), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-registered-nurses-market

U.S. Education Market – By Type (Cloud And On-Premise); By Content (Audio-Based Content, Video-Based Content, And Text: https://www.zionmarketresearch.com/report/us-education-market

HVAC Equipment Market By End-Use (Commercial, Residential, And Industrial), By Product (Ventilation, Heating, And Cooling), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/hvac-equipment-market

U.S. Integrated Delivery Network Market By Services Type (Long Term Health And Acute Care / Hospital Service), By Integration Model (Vertical And Horizontal), And By Region – Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/us-integrated-delivery-network-market

Cosmetic Packaging Market by Material Type (Plastic, Glass, Paper and Others), by Container Type (Jars, Bottles, Tubes, Sachets and Others) for Hair Care, Nail Care, Skin Care, Makeup and Other Applications: China Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022: https://www.zionmarketresearch.com/report/cosmetic-packaging-market

Inductive And Linear Variable Differential Transformer (LVDT) Sensors Market By Product (Displacement/Position Sensor, XLT, Gaging Sensor, And Others), By Type (Digital I/O, DC-Operated, AC-Operated, And Others), By Application (Oil & Gas, Energy & Power, Automotive, Consumer Electronics, Aerospace & Defense, Medical & Healthcare, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030: https://www.zionmarketresearch.com/report/inductive-linear-variable-differential-transformer-sensors-market

Fintech-as-a-Service Platform Market: https://www.linkedin.com/pulse/global-fintech-as-a-service-platform-market-size-share-rohit-patil/

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Nilesh Patil

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Blog: https://techratoon.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?

Email Directly Here with Detail Information: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

Published

on

more-than-$9-million-awarded-to-high-school-scientists-and-engineers-at-the-regeneron-international-science-and-engineering-fair-2024

Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/more-than-9-million-awarded-to-high-school-scientists-and-engineers-at-the-regeneron-international-science-and-engineering-fair-2024-302149316.html

Continue Reading

Artificial Intelligence

J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

Published

on

jp.-morgan-life-sciences-private-capital,-blue-horizon-advisors-and-united-al-saqer-announce-winner-of-inaugural-2024-life-sciences-innovation-summit

In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

View original content:https://www.prnewswire.co.uk/news-releases/jp-morgan-life-sciences-private-capital-blue-horizon-advisors-and-united-al-saqer-announce-winner-of-inaugural-2024-life-sciences-innovation-summit-302149186.html

Continue Reading

Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

Published

on

congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024

SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
Photo – https://mma.prnewswire.com/media/2415818/Global_Data_Center_Facility_Summit_2024.jpg

View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

Continue Reading

Trending