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  • user 12:45 pm on May 7, 2016 Permalink | Reply
    Tags: , , , , , , technology   

    Digital Currency and the Popularity 

    Ever since #Bitcoin and other #digital currencies came to existence, they have made it to the mainstream financial #technology. The way the exchange rate of Bitcoin is going up, it appears, some day it may reach to $ 20,000. Though the value of Bitcoin has fluctuated drastically throughout the years; for instance, it reached to $ 1200 in October 2013.

    According to some experts and observers if you have Bitcoin and see what happens in the coming months and years, you will be able to see that the price has appreciated to great extent as there are limited Bitcoin. Additionally, as there are no central #banks that circulate Bitcoin, these cannot be manipulated, there is no inflation.

    Needless to say with businesses jumping on the bandwagon and investors becoming interested in the digital #currency, it appears the momentum is going to up and up. In fact, Bitcoin as a digital currency has injected itself into a lot of conversations about the future of technology, economics, and the internet.

    Future for Digital Currency

    From the grand design for digital currencies, it appears they have a bright future. However, a lot of experts say that the future of digital currencies remains a controversial topic as they will always be challenged by the fiat issued by the governments around the world. The governments don’t want to recognize digital currency that can challenge their sovereignty.

    The digital currencies like Bitcoin, dogecoin, litecoin, etc. were developed because of trust issues with financial institutions and digital transactions. Not to say that even when digital currency Bitcoin is not considered to be money by everyone, it is independent of traditional banks and could eventually pose competition for them.

    Which Digital Currency Will be the Most Popular One?

    There are several digital currencies that include Bitcoin, dogecoin, litecoin, etc. These are the top three major names that come to mind when speaking of digital currency. These are a form of virtual currency that is electronically created and stored. Some types of digital currencies are cryptocurrencies, but not all of them are.

    Needless to say Bitcoin is expected to lead the group. Bitcoin was created to take power out of the hands of the government and central bankers, and put it back into the hands of the people. According to various estimates there are currently about 12 million Bitcoins in circulation. Interestingly, litecoin is catching Bitcoin in terms of #popularity.

    Find the latest Bitcoin news, price and analysis from reliable sources.

    More Blockchain Articles

     

  • user 7:55 pm on May 4, 2016 Permalink | Reply
    Tags: , technology   

    FinTech? Don’t You Mean FunTech? 

    AAEAAQAAAAAAAAjsAAAAJGY0YTA1MGI0LWE3YjAtNDBhNy1iODU3LWJlMTk1NWRhYTJmMw
    When you think of fun, I’m sure the secure delivery of your financial data isn’t the first thing that comes to mind – but why are the two mutually exclusive? Now that we’ve mastered accessing financial information through #FinTech applications, we need to focus on the next generation of FinTech – Millennials and FinTech Disruptors: a generation focused on the gamification and socialization of data.

    Companies – think Mint, Stripe, Swift, Venmo – are on a social mission. By improving user-engagement, organizational productivity and design, they have created an overall rewarding experience. Users find these apps not only useful, but a pleasurable experience by accomplishing tasks in a quick and fun way. These FinTech apps make it easy to forget that behind the innovative app in your smart phone is a traditional Financial Institution that powers it.

    Think about it – if you owe your friend money for a cab home, would you rather go through the hassle of finding a bank and depositing the $20 or use a mobile app that not only securely accesses your bank account, but allows you to personalize the payment process with pictures, messages and even direct links to your social media accounts? By pressing a button on your smart phone, you can now simultaneously update your Facebook status and pay your friend back, from anywhere in the world. This shows #technology is evolving, that people are evolving. As time and quality of life become higher priorities, these apps will empower users to be more productive, all while managing their finances.

    Of course, it’s not all fun and games. These FinTech apps may act like a Financial Institution, access your most personal information and handle your money, but they are not regulated like a Financial Institution, that actually holds your assets. Security is also a concern, but then again is your Financial Institution providing access to your data in a secure way today? In addition to hackers and security breaches, consumers need to worry as their personal data is constantly subjected to identify theft. FinTech apps mostly pull their data through screen scraping, a costly, unreliable method that puts the Financial Institutions and your information at risk. However, some Financial Institutions are embracing technology and investing in advanced data aggregation and management platforms – think EEI’s Trusted Network™ – a clear indicator they value their client’s demands.

    Financial Institutions have begun to notice that keeping up with this on-demand lifestyle is no easy feat. These Digital Natives, the epitome of the instant gratification culture, must be able to access and move their money while waiting on line at Starbucks. Financial Institutions have been ill-equipped to handle these expectations, allowing FinTech “disruptors” to swoop in and cater to the world’s largest generation: Millennials. The financial sector is now at an inflection point and as competition increases and demand grows, we will see Financial Institutions either invest and adopt the modern FinTech culture or fall by the wayside. Regardless of your preference, one thing is for sure, “traditional banking” will never be the same again.

    This is the first in a series of blogs I’ll be writing exploring the shift in technology and culture in the financial services industry.

    To read past blog posts click here: https://www.linkedin.com/pulse/data-king-jaimie-anzelone

    Contact:

    Jaimie Anzelone

    115 Broadway Suite 1705

    New York, NY 10006

    [email protected] | 212-344-2000

    Original post at: https://www.linkedin.com/pulse/fintech-dont-you-mean-funtech-jaimie-anzelone

     

  • user 12:14 pm on May 4, 2016 Permalink | Reply
    Tags: , , technology, ,   

    Understanding How Bitcoin Works 

    More and more businesses are now expanding their operations into the digital world. And there has always been a need for virtual currencies and online transaction systems like Paypal. To answer this demand, #bitcoin a type of digital currency that is accessible on the Internet, and can be used wherever you are. Bitcoin is a crypto-currency which uses peer-to-peer (P2P) #technology. This allows it to operate without the need of a central authority. The maximum amount of bitcoins in the market at a single time is 21 million units and new bitcoins are produced at a diminishing rate. This ensures that existing bitcoins have value in today’s market.

    By using peer-to-peer (P2P) systems, bitcoin eliminates the requirement for a third party to enable transactions between a buyer and a seller. Therefore, bitcoins will allow you to save in terms of transaction expenses. A majority of online transaction systems like Paypal charge a certain fee for each transaction. For individuals and businesses that carry out huge amounts of online transactions, bitcoins is a good way to help you reduce total costs. Besides that, the bitcoin currency is decentralized. This essentially means that the currency is not controlled by any oversight body or authorities. This means that bitcoins are not suppressed and controlled unlike the printing and distribution of real currencies which are controlled by the Government.

    To use bitcoins, the first thing you need is an online bitcoin wallet. You will need an e-wallet to store your bitcoins as it is a virtual currency. There are many websites that provide users with free bitcoin wallets – like My Wallet from http://#blockchain.info. To get started with the bitcoin system, all you need to do is visit one of these websites and sign up for a bitcoin wallet with the website. After that, you are all set to go. Bitcoin wallets can also be accessible using your smartphone through various mobile applications. This allows you to make online transactions, even when you are away from your computer.

    To enhance the security of your bitcoin wallet, you might want to download and use a reliable desktop client. These clients help you to store bitcoin transactions onto your computer. Always remember to back up and save your transactions onto your client from time to time. This ensures that your money is safe, even if your smartphone gets stolen or your computer breaks down. Most users download the Satoshi Client for this purpose as it is a reliable and reputable software.

    Once you have your wallet set up, you can begin to transacting with bitcoins. There are many ways for you to earn bitcoins. Firstly, you can purchase bitcoins from different online sellers. You can also receive it from carrying out business transactions. And if you have the time, you can gain free bitcoins by completing simple tasks like surveys, or you can do bitcoin mining to ‘dig out’ unfound bitcoins. Despite being relatively new to the market, many companies and individuals are now accepting bitcoins as a form of payment. If you think that bitcoin is able to help you grow your business, you should get started right away by creating an e-wallet.

    Are you looking for more information regarding Bitcoin? Visit http://blockchain.info/wallet today!

    Find More Blockchain Articles

     

  • user 11:02 pm on May 3, 2016 Permalink | Reply
    Tags: , , , , , Shaking, technology   

    Fintech: Shaking up the financial industry 

    #Fintech: #Shaking up the #financial #industry
    The following is a script from "Fintech" which aired on May 1, 2016. Lesley Stahl is the correspondent. Shachar Bar-On, producer. One sector of our economy after the next is being disrupted by new apps and websites, like bookstores, travel agents …
    Read more on CBS News

    Malaysia #banks told to embrace challenges posed by fintech firms
    KUALA LUMPUR (May 3): Malaysia's banking industry has been urged to embrace challenges put forward by financial #technology (fintech) companies to stay relevant in the evolving world economy. "With fintech, people don&39;t go to the banks anymore and …
    Read more on The Edge Markets MY

     

  • user 10:22 pm on May 3, 2016 Permalink | Reply
    Tags: , , , , Ease, , technology   

    Ease of Payment With Bitcoins 

    #Bitcoin is a new and innovative digital currency that can be accessible online, regardless of where you are. The bitcoin system is based on crypto-currency and it is acceptable all around the globe. Bitcoin works using a peer-to-peer (p2p) #technology and operates without the need of a central authority or a oversight body. Bitcoin is a valuable form of virtual currency, as there is only a maximum of 21 million units in the market at a certain time. Besides that, new #bitcoins are generated at a diminishing rate.

    Compared to other online transaction systems like Paypal, bitcoin uses p2p which eliminates the need for a third party to complete the transaction. Using bitcoins will help you to save in terms of transaction costs. Especially for people and online businesses that make a large amount of virtual transactions, bitcoins can help you to reduce cost. Besides that, the currency is decentralized. What this means is that the currency is free from control of central authorities. Regular bank notes and coins are suppressed and controlled by statutory bodies which oversee the printing and distribution of real currencies to the public.

    So how do you use bitcoins? First of all, you will need to create a bitcoin wallet. Bitcoin is a virtual currency, so you will have to keep it in an e-wallet. E-wallets are secure and easy to access and use. To get you started, you can start by signing up for a bitcoin wallet on the Internet. There are many service providers like My Wallet from http://blockchain.info which provides you with free e-wallet services.

    To make bitcoins even more accessible, many companies are providing users with bitcoin wallet applications for smartphones. Selling and buying of bitcoins can now be completed with a tap on your smartphone. If you are an Android user, you will be able to find many mobile apps to sell and buy bitcoins on your Google Play Store.

    To improve the security of your bitcoin wallet, most people download and install desktop clients to store their bitcoin transactions into their computers. After you start your bitcoin wallet, always remember to save the file and back it up from time to time onto your desktop. Unlike #banks, you are in-charge of the safety of your currency and money. The Satoshi Client is widely used by bitcoin users as it has been in the market since 2009.

    You can sell and but bitcoins after you have your wallet. There are a variety of methods that can help you obtain this virtual currency. You can purchase bitcoins from various sellers, receive it from business transactions, doing simple task and work to gain free bitcoins and you can carry out bitcoin mining. Bitcoin has been growing in demand over the years and the demand is expected to grow even stronger with the depreciation of real currencies. If you want to understand more about the concept of bitcoin and how it can benefit you and your business, feel free to search the Internet for more information.

    Are you looking for more information regarding bitcoins? Visit http://blockchain.info/wallet today!

    Find More Blockchain Articles

     

  • user 5:36 pm on May 3, 2016 Permalink | Reply
    Tags: , , CFAs, Fear, , , , , , technology,   

    CFAs Warn That Asset Management Firms Should Fear Fintech Most 

    #CFAs #Warn That #Asset #Management #Firms #Should #Fear #Fintech #Most
    The respondents didn't view the fintech threat as a flash in the pan. They viewed robos as having a continued, large impact on the industry in five years, while they were more skeptical about the ability of crowdfunding and marketplace lending to last …
    Read more on Bloomberg

    European fintech funding deals have tripled, but the Brexit threat poses a …
    Thanks to helpful regulations, Europe has become a hotbed of fintech activity, and deals in this region have tripled in the last year. But the looming threat of the "Brexit" could shake up the way investors pour their money into the region. European …
    Read more on Business Insider

    Brexit good for UK FinTech
    From my perspective and given my role as a top global FinTech influencer, I&39;ve been asked many times recently about the impact on the blossoming UK FinTech (Financial #Technology) industry should the UK vote to leave the EU. So let&39;s look specifically …
    Read more on Finextra (blog)

     

  • user 10:02 pm on May 2, 2016 Permalink | Reply
    Tags: , , Fortune, , , Magazine, technology, ultimate   

    Fortune Magazine – The ultimate guide to financial growth 

    #Fortune, one of the most prestigious American business magazines, was founded by Henry Luce in 1929. The #magazine is published globally by Time Inc. Fortune covers the entire field of business, including specific companies and business trends, tech innovation prominent business leaders, and new ideas shaping the global marketplace. Fortune is best known for its exceptionally reliable annual rankings of companies. Fortune furthers understanding of the economy, provides implementable business strategy, and gives you the practical knowledge you need to maximize your own success.

    In the latest issue of Fortune magazine, know how to make a profit in the new Hollywood. The article reveals that hit sequels like Jurassic World and Star Wars: The Force Awakens helped push Hollywood’s global box office to a record $ 38 billion in 2015. But the industry faces troubling trends: It’s struggling to produce human-scale movies that break the action-sequel mold — and when it does make them, they often don’t make money. Studio heads know they eventually need to lead in digital or risk losing out to another screen-based center of gravity, the one in Silicon Valley.

    Also, get to know about the billionaire behind Walgreens’ quest for global dominance. Stefano Pessina took control of the drugstore chain using its own money. Now he’s squaring off with CVS. Can a brilliant dealmaker become a killer retailer? Read the article in this issue of Fortune to know more.

    The cover story ‘Silicon Valley’s $ 585 Billion Problem’ reveals that VCs have pumped up the value of the “unicorn” startups. Now tech IPOs are in trouble. Of all the Silicon Valley IPOs in the past couple of years, Lending Club’s might have been the surest bet of all. The San Francisco peer-to-peer lender is a star in the world of “#fintech,” a growing sector made up of #financial #technology companies bent on disrupting the traditional banking sector. Lending Club’s stock peaked about a week after its IPO, at nearly $ 26 a share, and has been retreating ever since. Time and time again during the current IPO cycle, Wall Street underwriters–egged on by ambitious CEOs, hungry venture capitalists, and favored institutional investors–have hyped one technology IPO after another. The bankers price the offerings for perfection, watch them soar on the first day of trading to deliver the coveted first-day spike, and don’t stick around to offer an explanation after the shares plunge below the first-day price.

    Fortune digital magazine is available on all digital newsstands like Apple, Magzter, Google, Amazon, etc. Digital magazines have gained immense popularity as people have migrated towards smart devices for all their needs. Digital magazines can be read on iPad, iPhone, Android devices devices and on the web. Fortune digital magazine’s annual subscription is available at a huge discounted price on digital newsstands like Magzter.

    Fortune is the #ultimate #guide to financial #growth. Visit the Fortune magazine subscription at http://www.magzter.com, and Subscribe and read Fortune magazine on your Smart Devices and Web!

    Find More Fintech Articles

     

  • user 7:23 pm on May 2, 2016 Permalink | Reply
    Tags: , , , , , technology,   

    Top 5 trends in payment technology industry in 2015 

    #2015 has been the year which saw some path breaking innovations, rapid adoption and steady growth of the Mobile Payments Ecosystem in India. With wider adoption of smartphones and Internet penetration, people in the country have finally started realizing the benefits of #technology in online payments space. We take a look at 5 #trends that have made a huge impact on #payment technology #industry in the recent time.

    1. Mobile wallets & Checkout
    There was an increased acceptability of the most recent online payment innovation ‘mobile wallet’. Words such as ‘wallet’, ‘cashbacks’, ‘wallet offers’ etc. have become a part of our daily life. All thanks to the millions of dollars which have been burnt at a breakneck speed in advertising and praising the merits of new age online payment system. Especially the advertisements around the mobile wallets are way too luring for anybody to fall for it due to the benefits that are being offered.

    Consumers appreciate mobile wallets that enable faster checkouts. In recent times, it has been observed and established that businesses offering a seamless payment experience have a tendency of picking up faster in the market. Buyers tend to lose interest in the purchase if the payment process is too complicated. Accepting payments from customers isn’t as easy as clicking a switch and watching the money flow in, however it is not necessary that it be complicated either.

    In this regard, PayUmoney made some noise with its checkout feature.

    2. Faster mobile payments with focus on reducing transaction time
    With massive shift to mobile that has happened in such a short time frame, opportunities in m-commerce as well as in other areas have multiplied. This is a time when online payment companies would be taking e-commerce companies to the next level.
    Few online payment companies have already started working in this direction by thinking about what problems they can solve for m-commerce by providing best online payment experience on mobile screens.
    The launch of ‘one tap payment’ by PayUbiz is one such technological breakthrough which sent ripples across the booming online payments industry. The patent pending and first of its kind tech innovation in the payments world is another step which will ensure a robust online payment system. The PCI-DSS complaint and patent pending ‘one tap payment’ is a combination of 4 different tech innovations that together provide a seamless online payments experience to the users.
    Store Card Vault: This feature is the first of seamless payment journey, ensures that the consumers don’t have to go through the pain of putting in the 16 digit card number repeatedly.
    No CVV: The heart of creating a seamless one tap payment solution was doing away with the process of repeatedly entering the CVV. The innovative patent pending and PCI-DSS certified technology developed by payubiz provided a solution to it.
    Auto OTP read and submit: Furthermore the second factor authentication of OTP, gets auto read and submitted leading to the completion of a seamless one tap payment experience.
    Magic Retry: the magic continues even when there is a network issue and the magic retry feature picks up the transaction from the point where it stopped.

    3. Focus on improving mobile transaction success rates (impacted due to poor network)
    In India, network congestion, signal error, slower internet speeds on 2G, 3G, and internet fluctuations are prime reasons for a transaction failures on mobile. A transaction can drop anywhere while it is hopping across acquiring gateways, processors, issuers or Master/Visa network. As a result of this, merchants encounter increased cart abandonment rates which impacts their revenue stream negatively.
    For this Magic Retry feature was introduced by PayUbiz which solves this issue very effectively. Magic Retry gives customer an option to retry by a click of a Retry icon, without the customer to go through the hassles of re-doing everything again. Magic Retry captures the current status of a customer’s transaction and creates various checkpoints during the transaction. It helps him/her recover the transaction if anything goes wrong during a payment process. In other words, upon Retry, it resumes the transaction from the last successful checkpoint by re-using the existing captured parameters.
    Statistics suggests that the mobile based payment transactions suffers approximately 20% drop rates due to network issues. As low as 50% customers retry transaction due to failures at first attempt. With this feature, this the success rates can go up to 90-100%. .

    4. Emerging Biometric payments
    Security is the topmost concern of the financial services industry today. Passwords have been the most common and the oldest way to keep accounts and personal data secure. But for how long? It’s difficult to keep a track of all the passwords and payments organizations have already started bringing innovations in this space.

    Very rapidly, biometric authentication is replacing the term “password,” especially in #FinTech. This is true not just for the US but globally as well.

    In the FinTech industry, Apple has done a brilliant job of taking people away from passwords by introducing TouchID. Apple’s TouchID has been a huge success as #banks and financial institutions are incorporating the feature in their banking mobile apps. Like Apple Pay, Samsung Pay also has biometric authentication techniques where a user will be able to authorize payments by holding their finger on the inbuilt biometric scanner.

    5. Online to Offline
    O2O is defined as anything digital such as a mobile app which brings people to shop in offline stores. Mobile payments are an enabler for O2O wherein customers can shop from offline stores and use a service such as mobile wallet to make the payment for the service or product.
    Recently Paytm decided to enter into O2O with the acquisition of local services marketplace Near.in. It also invested in deliveries start-up Jugnoo and Little, an app that helps people find deals at stores in their neighbourhoods.

     

  • user 7:10 pm on May 2, 2016 Permalink | Reply
    Tags: , , , , , Promising, , , , technology   

    Top 20 Most Promising Banking Technology Solution Providers 2016 

    Nexright driving #Banking & #Fintech innovation leveraging API Economy

    The millennials will soon constitute up to half the global workforce by 2020 and it is only natural for public serving organizations like #banks to pay heed to their concerns. Banking–according to a study by Viacom, a media network–faces the highest risk of disruption.

    Leaders of banking managements are often weighed down by the gravity of having to serve their customers, with mass transactions, at the same time, offering personalized content to their banking needs.

    Unlike banks that are born digital, traditional banks cannot afford the luxury of starting with a clean slate, and they must build the newfangled architecture on top of the legacy foundation. In an effort to ease down the process of transformation, Nexright bids a continuous-delivery approach of new functionalities.

    “We have developed an API management #solution for banks that allows digital innovation running alongside the slow-speed, transaction focused legacy systems,” explains Dilip Mohapatra, Director, Nexright.

    Nexright’s solution provides for a digital customer ecosystem with digital customers–complementing and enhancing existing capabilities to collect, analyze, and utilize financial data. The Melbourne, Australia headquartered banking solution provider allows CIOs of banks to redefine banking and drive innovation, leveraging digital data and API as core foundation.

    “Application Programming Interface (API) is the secret sauce of the digital economy that allows banks to open up banking services and data via APIs,
    and offer a broader range of products and services to their customers,” Mohapatra adds. Holding their steadfast campaigns towards unravelling the concept of contextual banking via data analytics, Nexright channels harmless, but prospective banking information to invoke potential banking businesses through secure pluggable interfaces–APIs.

    For instance, a mortgage API holds relevant mortgage data as assets and the points of interest and impact for banks.

    Nexright’s banking product, which is essentially a set of simplified service and API models, allows transformation of banks in core banking and
    digital banking in parallel. Some of these solutions leverage banking industry standards like IBM IFW (Information FrameWork). Mohapatra cites an example of Nexright assisting one of Australia’s topmost banks in establishing an API center of Excellence to fuel the API economy and drive digital disruption. Through IBM IFW and BIAN, the provider created a modern platform based on open architecture with integration and straight-through processing capabilities.

    “Application Programming Interface (API) is the secret sauce of the digital economy that allows banks to open up banking services and data via APIs”

    On top of that, Nexright also has a dedicated wealth management practice, providing Fintech (financial #technology) strategy and solutions to banks. For example, it includes client engagement platform and adviser support tools addressing cashflow management, long-term financial support services, and scalable advisory solutions to simplify existing complex advisory process.

    “The Fintech strategy essentially allows banks to expand their existing banking products into various fintech areas e.g. financial advisory services into #robo-advisory,” states Mohapatra.

    With a consulting team that comprises of both banking and technology domain experts, Nexright stays ahead of peers in the banking arena, by thrusting itself forward in the direction of business strategy and outcomes rather than just getting the technical infrastructure in place.

    By entrusting their success on their customer’s success, Mohapatra points out, “Nexright assigns a Customer Program Success Manager (CPSM), which once the program is live, assesses the customer’s achievement against expected levels.”

    Nexright’s innovation lab functions as an idea incubator and accelerator, where there is a constant endeavor to develop newer products and better services and solutions, collaborating with customers, partners, and industry experts.

    With his rich experience in product development and consulting services across several multinational IT and consulting firms, Mohapatra drives Nexright’s growth globally and is very passionate and committed in making a substantial difference in customer’s business. “Considering banking and Fintech demand for API, integration and cloud services, Nexright is investing further in open banking and Fintech initiatives,” assures Mohapatra.

    Author john steward is the Senior Technical Consultant of Nexright, Australia

    Find More Fintech Articles

     

  • user 8:33 pm on April 30, 2016 Permalink | Reply
    Tags: , technology   

    Fintech Investment Financial Internet Technology Person Holding A Smartphone On Blurred … 

    #FINTECH Investment Financial Internet #Technology person holding a smartphone on blurred cityscape background – Stock Photo from the largest …
     

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