HPC is the Mainstay of Competitive Advantage

HPC is the Mainstay of Competitive Advantage

In an era of financial convergence, HPC is the mainstay of faster analytics and quick decisions. Growing regulatory demands also call for speedier insights in trading, risk management, and customer care. Greater operational agility to respond faster to market changes is often the game-changer in Fintech and Regtech, saving billions and ensuring timely regulatory compliance.

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How FinTech Deals with CyberSecurity

How FinTech Deals with CyberSecurity

Make sure you read the part 1 of this article here!

PwC adds that while threats ebb and flow in terms of where they come from, the frequency and sophistication of cyber attacks on the infrastructure on banks and financial firms is increasing constantly. It suggests also that the geographic landscape of cyber attackers is always evolving, with reports that a higher number of cyber attacks are coming from Africa, and that in some cases cyber criminals could be relocating to South Africa from Europe to escape detection.

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The Rise of Fintech Chatbots

The Rise of Fintech Chatbots

With the growth of artificial intelligence in every area of online activity, chatbots have grown in sophistication to fill the role of customer service agents. Transparency Market Research predicts the global chatbot market will be worth $994.5m by the end of 2024 – a huge rise from only $113m in 2015.

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Fintech Startups and Artificial Intelligence

Fintech Startups and Artificial Intelligence

Startups and established financial service firms are targeting these days to provide investors clearer guidance with information collected and captured from multiple sources. Artificial intelligence contributes to providing greater insights and thereby better customer experience by capturing vast amounts of data in real-time as well as helping users in understanding how different data points relate to each other. Financial services are leveraging data-driven technologies in order to overcome the breakdown in brand loyalty.

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Missed Glastonbury? Or your dream job?

The tickets for Glastonbury 2016 have sold out… in under 32 minutes! It means that for every minute during that time period approximately 3,750 tickets were being sold. What makes the whole principle even more unfair is that there are those who have exploited the system or had an (unfair) advantage. Those who bought Glastonbury tickets only to sell them later on for a ridiculous price to genuine music fans, or those who just had a better network service like 4G. This concept is similar to the jobs’ market where inequality and abuse of the recruitment process: liars, cheats or those fortunate to benefit from their background: may prosper. However, though you might not get what you want at first, there are other ways to enjoy the music or to get back on track with your career.

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FinTech: Re-Invigorating Microfinance!

FinTech: Re-Invigorating Microfinance!

FinTech was developed as a gateway for financial inclusion, or the state in which all people have access to quality financial services. The sector is bridging the gap between financial institutions and individuals, and businesses, improving interactions and helping the underserved. One of these areas is in microfinance, which has started to adopt some of the concepts prevalent in retail FinTech. Though mostly used by retail consumers, the concepts of mobile and particularly branchless banking are providing highly useful in the field of microfinance too.

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Paying The Living Wage

Lidl, the popular supermarket chain, will incur additional expenses of over £9million following its announcement to increase the minimum wage of its employees. It represents a 14 per cent salary rise for over 51 per cent of its staff. The firm has chosen to benchmark its pay against the UK Living Wage rather than the national minimum wage of currently £6.50 (for over 21s). The Living Wage as calculated by the Living Wage Foundation takes into account “the basic cost of living in the UK” allowing pay to escape poverty.

Though Lidl pays the highest of the supermarkets, it is not the only supermarket chain following this guide. Tesco, Sainsburys, Aldi and Asda all pay above the national minimum wages with the first three paying their staff above the UK living wage (for outside London). Though agreed to be broadly positive, the living wage must not be blindly accepted. Far from being just an issue of pay, could it be one of employer morals too? And are we focussing too narrowly on pay rates at the expense of other important workplace indicators – such as wellbeing and labour turnover or job satisfaction?

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Data Attacks: Will FinTech Be Next?

Data Attacks: Will FinTech Be Next?

If you have ever printed photos through CVS Photo, you may have recently received a troubling email. Although medical and pharmaceutical data remained safe, it is believed that CVS Photo’s credit card data and potentially actual photographs were stolen on July 17, 2015.

This is just one of many large corporations to recently have the security of their databases compromised. Similarly Yahoo, Citigroup, Bank of America, and MasterCard and most other corporations have either been attacked or declared problems with their data security protocols. CVS blamed their third-party website host, PNI Media, for the incident. However, should it be considered a lack of oversight by CVS as well? So far, FinTech (bar cryptocurrencies) has largely been safe, but it is only a matter of time before the hakers realise there is a lot to be gained from attacking this nascent sector.

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