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  • @fintechna 11:53 am on November 16, 2018 Permalink | Reply
    Tags: , , , Fell, , , Nonexistent, , Shazam, some, ,   

    Shazam! Some Experts Fell For a Fake Product From A Nonexistent Company In A Fraud Test 

    Cyber and security professionals showed a charming willingness to provide personal information to a with a fake set up for International Awareness Week.
    Financial Technology

  • @fintechna 3:35 pm on March 22, 2018 Permalink | Reply
    Tags: , , , changing—but, , , , , some,   

    Banking risk management is changing—but some challenges remain the same 

    As the cliché goes, if you’ve grown tired of the current and climate, give it a few minutes. It’s bound to change.

    By the 2020s, Accenture predicts current banking business models to be swept away by a tide of ever-evolving and other rapidly occurring changes. The risk function is sure to be pressed to evolve in parallel and it is, according to our 2017 Global Risk Management Study.

    In this blog series on banking risk management, I will offer Accenture’s perspective of the changes that have already happened, and those yet to come. I will start with an overview of nearly a decade of risk facing , and then take a deeper look at the fresh challenges facing banking risk leaders today.

    We’ve been studying risk management across financial services—as well as in banking—since our first study debuted in 2009. Then, banking risk managers were reacting to the global crisis, grappled with siloed organizations, with technology not fit for purpose and a shortage in risk resources.

    Since then, banking risk leaders have made significant, admirable gains. Moving past the global economic crisis, by 2013 risk leaders began having a direct line to the CEO, even taking a “seat at the table” by 2015.

    Meanwhile, pressure mounts with rapidly increasing data volumes and requirements, and organizational analytic capabilities require constant upgrading. Likewise, digital data management and data analysis skills are more in demand than ever, adding to the ongoing talent squeeze.

    Our 2017 Global Risk Management Study findings illustrate the rapid pace of change across banking and the risk function, both driven by digital change, digital capabilities and digital competitors. Alongside this change, challenges similar to those from 2009 (see Figure 1). Banks face increasing business pressure to integrate risk and finance functions. They still struggle with talent shortages. From a technology standpoint, change is ongoing, but banks are stretching to use new technology (such as automation and cognitive computing) to full potential.

    Additionally, risk managers continue to face conduct risk, reputational risk and strategic risk challenges. Other new risks are still emerging, such as model risk, cyber risk and contagion risk. Complicating matters, the 2017 study finds banking risk leaders facing the expectations as their bank peers in terms of driving efficiency and wisely selecting the right people, technology and partnerships to get work done.

    In the midst of—and to address—these challenges, banks are in varying stages of experimentation and adoption with cloud, analytics, automation and artificial intelligence. These technologies offer promise, both in terms of innovative, sleek solutions and substantial cost and efficiency gains.  Can these technologies deliver beyond their promise?

    Our study finds the time for modest change or incremental fixes has passed. True, we might have predicted the steady growth of technologies such as cloud, artificial intelligence and analytics, but the competitive shifts are less expected, and new non-financial risks are a bit of a surprise. But the biggest surprise is the pace of change: more rapid than we might have expected.

    What can help banking risk leaders keep pace with constant and rapid change, and fend off new traditional and non-bank competitors?  It’s time to innovate. Banking risk leaders may want to carve out a core, proactive strategy that can build risk capabilities overall—now and in an ever-changing future.

    Figure 1: Evolution of Risk Management. For more details, view our interactive timeline.

    Evolution of risk management since 2009, across areas of integration, technology and talent
    Click to view larger

    Please join me in my blogs as I share my thoughts on how risk teams can become key organizational leaders by adopting smart technologies, playing the role of integrators of risk within the wider business, and layering existing risk talent to be multi-disciplinarian players and drivers of business value.


    The post Banking risk management is changing—but some challenges remain the same appeared first on Accenture Banking Blog.

    Accenture Banking Blog

  • @fintechna 8:53 am on November 3, 2017 Permalink | Reply
    Tags: , , Explains, , Generale, , Societe, some,   

    Societe Generale Explains Some Challenges Of Financial Inclusion in Africa 

    General has pioneered innovative banking services in Afrida
    Financial Technology

  • @fintechna 6:38 pm on October 26, 2017 Permalink | Reply
    Tags: Audience, , , Hijack, Merely, , some, ,   

    Did Ripple Hijack The Swift Conference, Or Merely Borrow Some Audience? 

    Prominently labeled shuttles lined up outside the Toronto convention center to whisk Sibos delegates to a Ripple nearby
    Financial Technology

  • @fintechna 7:52 am on September 13, 2017 Permalink | Reply
    Tags: , , , , some,   

    US Faster Payments May Require Some Regulation 

    Although the Federal Reserve system has limited its role in to coaching and cajoling, it may need to play a more active role in driving interoperability, suggests ACI Worldwide’s Craig Saks
    Financial Technology

  • @fintechna 3:35 pm on November 12, 2016 Permalink | Reply
    Tags: , , , , , , , , , , some   

    Connected Cars – How To Move From A to B in The Future (And Maybe Do Some Banking in Between) 

    It was a wonderful indian summer day in Boston, Massachusetts back in 1999, sailing boats were battling it out on Charleston River, joggers lined the river , and many a Red Sox fan was silently dreaming and hoping that one day, yes one day, their cursed team may win the world series again.

    At the MIT Media Lab &; back then, one of the culmination points where all things digital were being research and thought through by a multinational, highly switched on crowd of academics &8212; I had the pleasure to attend a conference labelled &;The of &;, where researchers different faculties and Research Groups came together with industry representatives to discuss how digital will transform cars and how we will use them in the future.

    To be honest, I don&;t remember much from that day back then &; the one example that sticks in my mind is a research project on intelligent rear-mirrors, that were able to measure objects approaching too fast and warn the driver that someone was approaching his or her car at collision course &8212; a simple algorithm that measured how fast 2D spatial objects increased in size and calcs the speed based on this.

    Today, many higher end cars have similar technologies as standard built in. And the car has definitely arrived. How disappointed do I usually get when I step into a rented car and find out I can&8217;t connect my iPhone via Bluetooth and listen to Spotify. Damn, feels like being thrown back into the neolithic ages.

    Connected car report 2016-1


    While smart digital systems already assist and take a lot of hassle and bad moments out of the driving experience (and fun too, as sporty drivers like to emphasize), we are looking at a even more radical digital transformation of cars in the future. Our recent PwC Strategy& study estimates a revenue potential of >155bn USD by 2022, split across safety, autonomous driving and services delivered in and out of connected cars.

    Estimated connected car revenues (and market share) by product package, 2015–22

    Estimated connected car revenues (and market share) by product package, 2015–22


    If ongoing tests and pilots continue to build momentum, we will soon be driving without our hands on the wheel, or even sitting on a backseat enjoying the car basically drive itself from A to B. Of course the car can also inform us of any location specific things we need to know, offer us services and entertainment, or contact the closest garage, if the engine is making strange noises.

    In our viewpoint on the Connected Car 2016 we are also looking more broadly at how connected cars will become a part of our daily lives &8211; the how and the why.

    Prospects and profits for makers of connected cars

    Prospects and profits for makers of connected cars

    If interested, please have a look here


    for financial services i see a big potential in using the time we are being driven by autonomous cars more productively, e.g., engaging with my bank or FS provider around advice, reporting, transactions or just catching up in general and discussing ideas.

    With the right multimedia Interfaces that experience can actually be made quite enjoyful, and people will definitely &8220;have more time&8221; and &8220;be at ease&8221; than at work or right before stepping into the car or when finally arriving at home from a long commute.

    This article first appeared on LinkedIn Pulse

    The post Connected Cars &8211; How To Move From A to B in The Future (And Maybe Do Some Banking in Between) appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.

    Fintech Schweiz Digital Finance News – FintechNewsCH

  • @fintechna 12:19 pm on September 23, 2016 Permalink | Reply
    Tags: “fintechready”, , , , , peers, some, ,   

    Australia more “fintech-ready” than some European peers – TransferWise 

    Often touted as a niche industry, this author is seeing early signs that mass-acceptance of providers by consumers and businesses is creeping closer to a tipping point, of sorts. The call may be slightly premature, however the following recent announcements by various industry players all point towards a growingRead More
    Bank Innovation

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