“TOP READS OF THE WEEK” (for week ending 23 April)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to know

• Cybercrime - Was this the most daring bank theft ever attempted?
• NatWest will not accept corporate customers who deal in cryptocurrencies
• 8 Ways to Leverage the Internet of Things in Utilities
• What Can Smart Tech Be Used For?

Banks & Credit Unions

• UK Bank NatWest Bars Businesses That Accept Crypto
• Banks decide their place on the Citi-Goldman spectrum
• Nigerian banks’ dominance of their home turf is virtually unparalleled

Fintech

• Forget the piggy bank, Till Financial’s kids’ spend management app gets Gates’ backing
• Machine learning, explained
• Embedded Fintech Versus Embedded Finance: Jumpstarting New Product Innovation In Banks
• Internet of Things — Leap towards a hyper-connected world
• Top 8 IoT applications and examples in business

Payments

• Is the Coronavirus Killing Off Cash?
• COVID-19 pushed real-time payments to jump 41% in 2020, study finds

Cybersecurity

• 3 ways CISOs can align cybersecurity to business goals
• Marijuana is becoming more accepted. Will cybersecurity employers play along?
• A botnet named after Prometheus jumps is also exploiting Exchange Server flaws
• Nation-state cyber attacks could lead to cyber conflict
• India wants to block WhatsApp's controversial privacy policy update

 

 

 

“TOP READS OF THE WEEK” (for week ending 16 April)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to Know

• The global system for combatting financial crime is hugely expensive and largely ineffective
• Bernie Madoff - "It was inconceivable that he was a crook"
• Why I hate the term ’embedded’
• Post-Pandemic Lessons for Risk Managers
• What are the most important Mobile Banking features?
• Ireland opens GDPR investigation into Facebook leak 

Banks & Credit Unions

• Why Big Banks Can’t Keep Pace With India’s Mobile Payments Revolution
• The digital trends disrupting the banking industry in 2021

Fintech

• ‘Screen scraping is not evil’: Bankers, fintechs, aggregators face off
• Embedded Fintech Versus Embedded Finance: Jumpstarting New Product Innovation In Banks
• Kenyan fintech tech startup secures funding to regionally expand
• FinTechs Targeting Underserved Communities

Payments

• India’s Mobile Payments Revolution Slowed Down by Tech Glitches at Big Banks
• Consumer credit payment patterns shift during pandemic

Cybersecurity

• IRS is probing the dark web to look for cryptocurrency and NFT tax evasion, says IRS commissioner
• Your Customer’s Bank or Credit Card Details Are Being Sold On the Dark Web. What Can You Do to Stop It?
• Would You Buy a Non-fungible Token? You Should Know Exactly What It Is Your Buying (but You Can’t!)
• How marketing principles can be used to enhance cybersecurity training
• 15 Cybersecurity Pitfalls and Fixes for SMBs

Artificial Intelligence

• How AI and Machine Learning Are Helping In Cybersecurity?
• Why every website wants you to accept its cookies

 

“TOP READS OF THE WEEK” (for week ending 9 April)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to know

• bitcoin is dead, long live bitcoin! 
  
• What are the most important Mobile Banking features?
• Post-Pandemic Lessons for Risk Managers
• What Google's multibillion-dollar Supreme Court victory over Oracle means to developers
• How Much Revenue Big Tech Makes Every Minute

Banks & Credit Unions

• Citi hires FinCEN chief to lead compliance in bank's new unit
• The Most Popular Mobile Banking Trends In 2021
• How Much Does it Cost to Develop a Banking App?

Fintech

• Fintech Investments in Banking
• Fintech Chatbots: How AI Chatbots Play A Role In The Fintech Industry
• Eye on fintech: Why the mobile-first banking industry is hot

Payments

• Five Banks To Test FedNow Instant Payments System
• Buy now, pay later moves into professional services
• 6 Payments trends for 2021

Cybersecurity

• How to fix the top 5 cybersecurity vulnerabilities
• After digital payments rush, time to tighten security
• Evolving Cybercrime and Security Challenges: What are CISOs Thinking About?
• When Cybercrime Went from Fun to Financially Driven
• What Are the Different Types of Malware?

Artificial Intelligence

• Here's What AI Will Never Be Able to Do
• A Scientist Taught AI to Generate Pickup Lines. The Results are Chaotic.
• Sorry, Cannot Understand the Language. Wait Chatbots can
• This avocado armchair could be the future of AI

 

Post-Pandemic Lessons for Risk Managers

In the aftermath of COVID-19, what trends will shape the future of the risk management industry? To better identify and address emerging risks, financial institutions will be leaning more and more toward diversity, hybrid modeling, AI, alternative data and tail-risk hunting.

Read the full GARP article HERE

“TOP READS OF THE WEEK” (for week ending 1 April)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to know

• How to Regulate Big Tech? Ideas from the BIS
• Digital Payments - US still in the Dark Ages

Banks & Credit Unions

• How the Best in Banking Are Marketing Their Mobile Apps
• 2021 Is the Year Banks Must Take Digital Challengers Seriously
• Marcus: A Digital Bank That Should Keep Rivals Up At Night
• How Open APIs Revolutionize Banking Services

Fintech

• Death by Fintech
• The disruptive trends & companies transforming digital banking services in 2021
• How Gen Z is Reinventing FinTech and Banking
• Nigeria's booming fintech space, and its top 13 players
• Banks or FinTech: who will get the “Ring of Power”?
• Fintech Chatbots: How AI Chatbots Play A Role In The Fintech Industry
• Fintech warning: Banking industry sees light at end of tunnel – an express train headed right at it

Payments

• PayPal launches crypto payment platform
• PayPal Sees No Letup for Online Shopping Even With Reopenings

Cybersecurity

• To Stop Future Hacks, Look to the Past
• CBA slapped with a court-enforceable undertaking after loss of data on 20m customers
• US Misses Two Cyber 'Pearl Harbor' Attacks
• Insurance Giant CNA Hit with Novel Ransomware Attack

Artificial Intelligence

• Using artificial intelligence (AI) in cybersecurity
• Can AI be hypnotized?

“TOP READS OF THE WEEK” (for week ending 26 March)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to know

• Digital Payments - US still in the Dark Ages
• Decentralized Finance - What it is and what it means
• Non-Fungible Tokens - Asset or Scam?
• Google Faces New Class Action Lawsuit for Privacy Violations

Banks & Credit Unions

• Bank of America sees DeFi as potentially more disruptive than bitcoin. The bank breaks down why DeFi is fundamental
• How Digital Banking Can Help Credit Unions Succeed In 2021
• Mobile banking in GCC surges due to Covid-19

Fintech

• Fintech companies must balance the pursuit of profit against ethical data usage
• Facebook Finally Explains Its Mysterious Wrist Wearable

Payments

• 7 Steps For Mobile Banking App Development
• UX Case Study: How to Create a Mobile Banking Super App
• The disruptive trends & companies transforming digital banking services in 2021 

Cybersecurity

• Cybersecurity, skills concerns hamper Singapore SMB digitalisation efforts
• What exactly does Truecaller do with your data? A hacker’s deep dive
• Building an Embedded Finance strategy: dos and don'ts
• 3 tips for mitigating cloud-related cybersecurity risks
• Why America will never be safe from cyberattacks

Artificial Intelligence

• The Spectacular Growth of Artificial Intelligence Today
• Top 100 Artificial Intelligence Companies in the World
• 5 Common Pain Points With Machine Learning And How To Solve Them

 

 

“TOP READS OF THE WEEK” (for week ending 19 March)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

Interesting to know

• Facebook Offers Content Creators New Ways To Earn Income
• The Microsoft Exchange hacks: How they started and where we are
• Dancing on the edge of your comfort zone
• Top 10 cybersecurity lessons learned one year into the pandemic
• Emerging Markets Driving the payments transformation

Banks & Credit Unions

• What We’ve Learned About Digital Banking in 2020
• Top Four Digital Trends for the Next Five Years
• Security Most Important To Retaining Mobile Banking Customers
• Bank branches will be extinct by 2034, fintech study finds
• How fintechs are working with banks to make them more green

Fintech

• Fintech companies must balance the pursuit of profit against ethical data usage
• Fintech Spotlight: JPMorgan Chase Looks To Digital Banking Innovation
• Top tech trends that will define fintech this year
• Cost to Develop Banking App and Crucial Features

Payments

• Amadeus, Mastercard Extend Collaboration For Virtual Card Travel Payments
• Flutterwave and PayPal collaborate to allow African merchants to accept and make payments

Cybersecurity

• Cyber Attacks: Is the ‘Big One’ Coming Soon?
• Hackers Rushed in as Microsoft Raced to Avert Mass Cyber-Attack
• Fifth-generation cyberattacks are here. How can the IT industry adapt?
• “Hacker Games” launched to challenge and improve cybersecurity skills
• Why Manufacturers Should Keep Cybersecurity Top of Mind

Artificial Intelligence

• AI in Cybersecurity: Six Considerations for 2021
• AI Behavioural Analysis in Banking: How Behavioral Signals is Changing Customer Interaction
• 5 Emerging AI And Machine Learning Trends To Watch In 2021

“TOP READS OF THE WEEK” (for week ending 12 March)

The latest top reads in banking, fintech, payments, cybersecurity, AI, IoT and risk management

In this weeks selection;

The Pandemic

• The COVID-19 pandemic - one year in

Banks & Credit Unions

• Arizona group aims to jump-start European-style open banking in U.S.
• Wells Fargo Ditches Abbot Downing Name for Ultra-Rich Clients

Fintech

• Mood swing – China’s government is cracking down on fintech. What does it want?
• What to expect from the fintech industry in 2021

Payments

• BNP Paribas rolls out A2A instant payments for e-commerce merchants
• New car tipping app arrives for Sonic carhops
• US, UK Firms Prioritize Innovation To Speed X-Border Payment Flows

Cybersecurity

• Fintech Cybersecurity Threats You Should Know About
• It may be worth paying, but online privacy comes at a price
• Top 10 types of information security threats for IT teams
• Watch Out! New Android Banking Trojan Steals From 112 Financial Apps

Artificial Intelligence

• Top 10 predictions of how AI is going to improve cybersecurity In 2021
• Top 10 Artificial Intelligence Technologies Making a Breakthrough in 2021
• Deep Learning vs Machine Learning: What Your Firm Needs to Know

Resistance to Peer to Peer Payments is Waning

Resistance to Peer to Peer Payments is Waning:

• Resistance to P2P services is waning, as many of the reasons for not using these services appear to be losing popularity.
• The largest overall reason in 2018, “I don’t have a reason to use P2P”, has declined from 47% to 36% in 2020.
• In 2019, 42% of consumers “prefer to use cash” than P2P services. Not surprisingly in a pandemic environment, that sentiment dipped to 30% in 2020.
• From 2018 to 2020, 8% of consumers reported they “don’t know how to use these services.”
• P2P services are increasingly being used to share costs with others, pay bills and pay for things in-stores.
• In 2020, 23% of consumers used P2P to split a bill, up from 17% in 2018 and 2019.
• For the last 3 years, one in five P2P consumers used the service to buy a gift.

How covid-19 is boosting innovation - The Economist

Covid-19 has accelerated the adoption of technologies and pushed the world faster into the future. As businesses and organisations look towards the post-pandemic era, what lessons can be learned about innovation?

“Must Reads” for 2 March

Today’s “Must reads” in banking, fintech, payments, cybersecurity, AI, IoT and risk management include:

• The Evolution of Planet Fintech
• The Move toward digital banking & transitioning traditionalists
• Types of Malware - Best Malware Protection Practices for 2021
• People file lawsuits to test boundaries of California's privacy law
• The disruptive trends & companies transforming digital banking services in 2021
• How IoT will change everyday life by 2030?
• Digitalisation, COVID-19 and the future of banking

How will covid-19 change travel? - The Economist

The covid-19 pandemic has devastated the travel industry. But as vaccines are rolled out and global travel slowly picks up, how will the industry evolve, and will holidays ever be the same again? 

How Will Payments Acceleration Affect The Payments Industry

A recorded Webinar from the Payments Journal; "How digital acceleration will affect the payments industry?" The Webinar includes guest speakers from Mercator, Capgemini and HPS

“Must Reads” for 4 February 2021

Today’s “Must reads” in banking, fintech, payments, cybersecurity and risk management include:

• The Importance of Cybersecurity in Fintech
• German laptop retailer fined $12.7M under GDPR for employee surveillance
• How the pandemic will change banking in 2021
• Maintaining Connections to Bank Customers Through the Pandemic and Beyond
• Krebs, Curry and Cyber Security
• SolarWinds hack turning into Pandora's box of cyber-risk
• Blockchain 50 2021

“Must Reads” for 3 February 2021

Today’s “Must reads” in banking, fintech, payments, cybersecurity and risk management include:

• Artificial Intelligence in Asia: Security Will be a Priority
• Here’s where AI will advance in 2021
• Two banks explain how they’re using biometrics
• The irrepressible rise of FinTech
• Is Your Financial Institution Ready for Tough COVID Vaccine Questions?
• Banks Now Closing Customer Accounts for Violating Mask Mandates
• Banking Must Commit to Increased Tech Spending in 2021

As the COVID-19 pandemic rolls on, banks must prepare for a long winter

Ten months into the COVID-19 crisis, hopes are growing for vaccines and new treatments. But victory over the novel coronavirus still lies some nine to 12 months in the future. In the meantime, second and third waves of infection have arrived in many countries, and as people begin to crowd indoors in the months ahead, the infection rate may get worse. As a result, the potential for near-term economic recovery is uncertain. The question of the day is, “When will the economy return to its 2019 level and trajectory of growth?”

McKinsey’s Global Banking Annual Review, provides a range of possible answers to that question for the global banking industry—some of which are perhaps surprisingly hopeful. Unlike many past shocks, the COVID-19 crisis is not a banking crisis; it is a crisis of the real economy. Banks will surely be affected, as credit losses cascade through the economy and as demand for banking services drops. But the problems are not self-made. Global banking entered the crisis well capitalized and is far more resilient than it was 12 years ago.

Read McKinsey’s review HERE

PYMNTS study on the digital shopping experience

An overview of the recently released PYMNTS study on the digital shopping experience as told by a census-balanced panel of 2,170 consumers and 500 merchants in the U.S.

Covid-19: How to fix the economy -The Economist

Governments will have to deal with the economic fallout from the pandemic for decades to come. If they get their response wrong, countries risk economic stagnation and political division. Read more on this at  https://econ.st/3ojORKY

 

International banking supervisory community meets virtually - Focus on the future of banking supervision in a changing world

The 21st International Conference of Banking Supervisors (ICBS), hosted virtually by the Office of the Superintendent of Financial Institutions (OSFI) and the Bank of Canada, was held on 19-22 October 2020. Approximately 450 senior banking supervisors and central bankers representing close to 100 countries took part.

Delegates discussed a wide range of issues related to the future of banking supervision in a changing world. The discussions covered the digitization of finance and the evolution of banking models, operational resilience, climate-related financial risks and remote working arrangements. Participants also exchanged views on the challenges for central banks and bank supervisors in advanced and emerging market economies during the Covid-19 pandemic, as well as adapting to the changing operating environment for central banks and supervisors.

The event included several panel discussions and keynote speeches by Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, and Prithwiraj Choudhury, Associate Professor at Harvard Business School.

This successful event marks the first time that the Basel Committee has worked with a host country to offer a completely virtual conference.

The ICBS, which has been held every two years since 1979, brings together bank supervisors and central bankers from around the world as well as representatives of international financial institutions. The conference promotes the discussion of key supervisory issues and fosters the continuing cooperation in the oversight of international banking. With its wide membership of senior supervisors and policymakers, the ICBS presents a unique opportunity for a broad-based discussion on issues that are timely and relevant to supervisors in both advanced and emerging market economies.

World Payments Report for 2020 just published by Capgemini

Capgemimi has just announced the publication of its “World Payments Report 2020”. The report is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives, and today’s dynamic payments environment especially in the light of the COVID-19 pandemic.

The new edition analyzes how the payments industry can respond to evolving retail and B2B customer expectations and highlights the need for payment firms to rapidly prioritize technology transformation in order to become digital masters and stay competitive.

You can download it directly from Capgemini. Click HERE.