In a letter to shareholders penned back 2014, Jamie Dimon, CEO of U.S. banking giant JPMorgan Chase, wrote of Silicon Valley tech startups: "They all want to eat our lunch, every single one of them is going to try and a lot of them will succeed."
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The financial industry has always been a prime target for cybercriminals. As criminals are quickly growing more sophisticated, financial institutions must step up their cybersecurity approach and focus not just on gating data but on inside threats - specifically, those that have a root in access privilege abuse.
With traditional banks and financial systems on their last legs in terms of innovation andaccessibility, financial technology (fintech) startups have become a focal point of theindustry. Whether you are a financial expert, an accounting specialist or work in a fintechstartup yourself, there’s no denying that the industry is on a continuous upward trend.
Once the darling of Silicon Valley, Theranos CEO Elizabeth Holmes convinced investors that she could accomplish the (currently) impossible. With Steve Jobsian style, dress and a sharp wit investors wanted to desperately to believe.
The debate about which is the best type of investment is as old as investing itself. While no market is “crash-proof,” real estate is traditionally viewed as one of the best and safest (if not the safest) investment options available, for several reasons.
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The already rising popularity and adoption of cryptocurrencies will continue in 2024. However, its adoption, though revolutionary and very promising, hasn’t been without various challenges. Since its inception, cryptocurrencies have faced significant hurdles that affected their use and acceptance.
Bitcoin is often portrayed as an untraceable method of payment that facilitates illicit activities by enabling criminals to make and receive payments without being tracked. This depiction implies that users transacting in Bitcoin can do so completely anonymously — that their identities will not be exposed. However, that is not necessarily the case. While Bitcoin offers increased privacy compared to traditional payment methods involving a third-party intermediary such as a credit card provider, it is still not as anonymous as a cash transaction. In fact, there are many ways a person’s identity could potentially be exposed in Bitcoin transactions.
A coalition of cryptocurrency and blockchain organization won’t be taking big tech’s recent ban of crytpo-related ads sitting down.
Article first published on March 28th, 2018 on Coincentral.com
Conserving plastic with digital control over Debit & Credit cards
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Mergers and acquisitions (M&A) play a crucial role in the growth and expansion of businesses worldwide. They enable companies to increase market share, diversify product and service offerings, and achieve economies of scale. A successful M&A transaction can lead to significant competitive advantages and long-term value creation for the involved organizations.
Cryptocurrencies – digital currencies that are transparent and free from government interference, running on secure blockchain technology are growing in popularity. In investment circles, and the wider sphere of financial services overall, cryptocurrencies still face a lot of skepticism and prejudice, fueled by regulatory uncertainty, volatility and in some cases, the perception of bloated valuations.
World Satoshi Summit & NASSCOM Blockchain SIG to Promote adoption of Blockchain for various sectors and industries
The global financial system comprises of transactions that involve trillions of dollars a day, not to forget billions of people. And though the current system, at a glance, seems to be working fine, it’s riddled with various issues that need to be addressed, and now.
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In today’s world, many financial services applications rely on APIs to exchange data and interact with external systems. With the increasing adoption of cloud computing, the usage of APIs has grown exponentially, making API security a top priority for financial organizations.
When was the last time you pulled out a wad of cash to pay for dinner or a stack of dollar bills to cover your rent? If you’re like the rest of the developed world, chances are, it’s been a while. The transition to a cashless society has been a long time in the making, but there are other interesting developments afoot, leading to a rise in Alternative Payment Methods (APMs).
We talked to Finxact co-founder Dan McKinney about the changing service industry, the ever-growing importance of customer experience and all the implications for banks today. And what came first, the chicken or the egg?
Lenders have long faced down the issue of fraud, but now, digital lenders are now facing even greater challenges. Digital lenders have become an easy target for identity and transaction-related fraud, compared with non-digital lenders, as criminals can now hide behind a mobile or computer screen.
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Blockchain, an evolving technology that has influenced many industries, including finance, tech, real estate, and gaming, is created by various programming languages.
While Fintech companies were initially viewed as a banking competitor, the two are finding that there is greater benefit to working together. According to the 2017 World Retail Banking Report, 91 percent of banks and 75 percent of Fintechs responded that they expect to partner with one another in the future.
A change in our approach, and the ways we use technology, can be disruptive to the Financial Service Industry.
The past few years have been a technology roller coaster ride for financial services companies. From heightened cybersecurity threats to increased demands from customers on the digital front, the very rules that defined the industry have changed. And 2018 will be no different.
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How mathematics is used in tech? From fintech to artificial intelligence and data analysis, discover how math creates the technology we rely on today. Explore its role in innovation!
From hype to crash – in light of the most recent exchange rate developments of Bitcoin, Ethereum, Ripple & Co., disillusionment is reigning on the crypto market. Volatile exchange rates, black sheep amongst traders and the learning that trading with crypto currencies is actually not as easy as buying a lottery ticket, have certainly put a damper on the gold rush atmosphere. Pressure is growing on the crypto traders – most of all because of regulations.
Blockchain has been touted as a disruptive technology that can be used to benefit virtually any transaction, ranging from money transmission to supply chain management, to restaurant reservations. With its promise of highly secure, private and instantaneous transactions, blockchain would seem to enhance any transfer or transaction.
Financial services companies are growing through an intense period of acquisitions and mergers. This has resulted in requiring a parent company to maintain IT infrastructures for several different organizations, each with their own lines of business.