TECHNOLOGY: Blockchain will raise standards and improve security

With the regulators taking a much closer look into blockchain technology, the trend will probably be less hype, fewer scams, and a lot more substance with carefully planned and executed projects in this space. The convergence between blockchain and the internet of things (IoT) is likely to continue as organizations start realizing and understanding the security features offered by this technology. Continuation of the period of relative stability is thus expected.

Robo-advisors: the next phase of fintech evolution

Compared to financial advisors, robo-advisors are inexpensive and more accurate in allocating assets, estate planning, and overall financial advice. Robo-advisors help private investors in wealth management with the help of predefined algorithms and trends in the financial market. The utilization of robo-advisors in fintech is not a new phenomenon. Wealth managers have been using robo-advisors behind-the-scenes to gain additional information before offering their final recommendation to clients. As robo-advisors became more advanced, wealth managers were able to focus more on building client relationships and save time spent on data entry and investment management.

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Blockchain Reshaping & Redefining The Banking Industry

Blockchain can solve a lot of issues continually faced by banks and financial organizations nowadays. It could bring changes to everything from payments to online appointment scheduling software. It provides a high level of security in storing and transforming data at low costs through an open and transparent network infrastructure. The traditionally centralized, conservative, and restricted banking sector has now started using blockchain technology more than any other institutions. The change of the bank’s clearinghouse or centralized ledger to blockchain’s distributed ledger could redefine the banking industry.

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  • Blockchain  - The Radical Metamorphosis Shaping Our Financial Future

    To refurbish what we’ve already accomplished, and to go beyond it is going to take a great effort. However, there is one kind of technology that can do all this and more, especially in the financial sector. Surprisingly, though, it isn’t AI nor Robotics, neither big data nor quantum computers. Not even, thank goodness, social media. It is called the blockchain, and it’s coming for you, it’s coming for all of us. Blockchain, which if it promises to do what the specialists in the field are telling us, will change the financial landscape of the world for all time.

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    The impact of blockchain in data management and data security

    Data being the latest trend for achieving digital transformation, companies are striving to gather more and more data and also to make the most out of it. But for everything to fall in place, it is important that companies manage, organize, and also secure the data that is collected. While storing and managing a voluminous amount of data is difficult, securing the same is even more arduous. Besides, the proliferating cyberattacks and data breaches have created a sense of anxiety in companies today. Considering the promise of authenticity, integrity, and immutable storage, the disruptive and revolutionary technology, blockchain, will very well fill the gaps in traditional data management.

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    Blockchain and AI: A Perfect Match?

    The combination of blockchain technology and Artificial Intelligence is still a largely undiscovered area. Even though the convergence of the two technologies has received its fair share of scholarly attention, projects devoted to this groundbreaking combination are still scarce. Putting the two technologies together has the potential to use data in ways never before thought possible. Data is the key ingredient for the development and enhancement of AI algorithms, and blockchain secures this data, allows us to audit all intermediary steps AI takes to draw conclusions from the data and allows individuals to monetize their produced data.

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    How to build blockchain competency in corporations: What is the right way?

    Interested in how to incorporate blockchain technology with the help of a dedicated blockchain unit or simply want to get to know more? To promote your knowledge of blockchain technologies or digitization in general, regardless whether it is directly for your company or your personal development, you should gather further information and deepen the understanding of how to incorporate blockchain competencies inside a corporation.The importance of investing into qualified manpower as well as a strategic foresight is going to be illustrated in the following article.

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    How is Automation Enabling the Banking Sector

    The financial service sector has undergone radical changes over the last few years. Given the prevalence of several labour-intensive processes in the banking industry, it is unsurprising that the sector has been leading in welcoming automation solutions. Banks are increasingly moving towards adopting the digital blocks of what we call as “ABCD of Digital Technologies”, A for Artificial Intelligence and Robotic Process Automation, B for Big-data and Advanced Analytics, C for Cloud computing and D for Devices in several processes including KYC procedure, cross-border payments, trade finance and smart contracts.

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    Blockchain-as-a-Service: the accelerator for blockchain adoption

    A large scale adoption of blockchain by corporates and others has long time been hindered by the lack of options. But that is changing. When interacting with the blockchain they have now two options. They can either set up their node directly, thereby removing the “invisibility cloak” of blockchain. Or they can decide to let someone else do that for them. And here comes BaaS or Blockchain-as-a-Service in scope. BaaS or Blockchain-as-a-Service is comparatively a new blockchain technology, that can be easily integrated in existing corporate infrastructures.

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    Four ways artificial intelligence is transforming compliance for banks

    Artificial intelligence (AI) and automation are becoming the go-to options for addressing the troubles of modern-day AML and KYC. The biggest draw is AI’s ability to interpret, synthesize and correlate vast amounts of data, a game-changing contribution to the ongoing battle against financial crime. When building an AI strategy, it’s important to identify expected outcomes and evaluate how AI can be applied to achieve specific goals. Here are the four pieces of lowest hanging fruit in AI for KYC that will bring the ROI.

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    This is how blockchain technology will refuel automotive applications

    Assuring compliance and achieving consensus with all parties involved is easier with blockchain. This ensures that all and any operation take place smoothly without any obstructions and hassle free. Blockchain brings out of the box solutions to the traditional challenges faced by automotive industry. With the right integration, the possibilities to achieve maximum potential are high for the automotive sector. Let’s get an idea of how blockchain will help automotive sector that is involved with multiple operations and parties.

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    How blockchain and big data can work together to enable data monetization

    Every organization has realized that data is an asset and utilizes crucial data in multiple applications. In data monetization, blockchain can be a major contributor due to its advanced applications and decentralized nature. With the help of blockchain, data monetization will be accessible to consumers soon. Using blockchain-based data monetization, consumers can monetize and negotiate the value of their data. Also, consumers can control which data can be collected by organizations to ensure data security and privacy.

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