the banking group Nordea has opened its own equity crowdfunding platform for businesses and investors, told the trade magazine.the risk of companies financing is difficult for banks to face tougher regulation.Equity crowdfunding platform provides therefore nordea for the opportunity to be involved in growth companies in the field.the Service is included in the book-entry system and, according to end up in the companies that pass the Nordea sieve."Companies should be running and they are certain of the approval process through.we Aim, at least initially, to encourage youth entrepreneurship.
Photo: Nora TamHong Kong companies and financial services institutions lag behind the US and Europe in cybersecurity measures as little emphasis is placed on security from a board-level perspective, according to industry experts.He said the banking sector in Hong Kong had lagged in their uptake of cloud technology adoption.Darren Argyle, chief information security officer of UK-based financial technology firm Markit, believes that Hong Kong banks and companies fall behind the US and Europe in beefing up cybersecurity even as the number of cyberattacks have been on the rise globally.He added that companies often view security as a cost of doing business, as cyber criminals increasingly target corporations in their attacks.CEOs of financial companies are now starting to ask what technology is in place which assures that they can respond adequately during a breach, he said.One way to mitigate the skills gap in Hong Kong is for the government to invest heavily in cybersecurity and related security start-ups, thereby encouraging more Hongkongers to pursue a career in security, he said.
Stephen Ingledew, MD, Marketing, Standard Life, UK said: "Today we are truly working towards a segment of one and as a result, our customer communications must be personalized at a depth unimaginable just a few years ago."In addition to the analytics tools, Standard Life is using IBM Campaign and Interact, these help the investment company to turn analytic insights into customer snapshots that help to identify what exactly a person's financial needs are and what their long-term aspirations may be.Employees will have access to these insights and then be able to actively, and more effectively decide on what would be the best course of action.The work with ING Direct sees the bank aiming to deliver more personalised banking services to online and mobile customers as it looks to better engage with younger digital savvy customers.Although there are no exact details on which analytics tools are being used, the deal highlights an increasingly proactive response from FS organisations to meeting customer demands and fending off competition from fintechs.The investment company has around 4.5 million customers across 46 countries and it actively manages over £253bn in investments worldwide.
Encryption, corporates have heard of itEnterprises are routinely storing corporate password files in the cloud through Microsoft s OneDrive backup technology.OneDrive is the most common Office 365 application, with 79.1 per cent of organisations using it, according to a study by cloud control tech vendor Skyhigh Networks.Businesses and employees are still taking a relaxed approach to document security, especially when you consider the high frequency of threats, said Hawthorn.This percentage will only increase as OneDrive becomes more tightly integrated to the rest of the suite.Hawthorn concluded that the need for employee training is particularly acute in heavily regulated industries such as financial services or healthcare, two of the biggest users of Office 365.The study found that the occurrence of Office 365-related threats is common, 71.4 per cent of companies have at least one compromised account each month, 57.1 per cent have at least one insider threat and 45.9 per cent have at least one privileged user threat.
If hackers take down a bank, it could endanger the whole society, says Barclays chairman John McFarlane.The financial sector needs to do more to protect itself against cybercriminals, as the combination of money and personal data that banks possess represents the "perfect target" for hackers, according to a new industry report.Read More"Digital technology has radically changed every aspect of our lives and brought untold benefits.Of course, with these opportunities it's introduced a new threat which is cybercrime; not only are they after our information, they're after our money and can and will steal it from wherever they choose," said John McFarlane, chairman of Barclays and TheCityUK.TheCityUK also calls for the creation of a City-wide cyber forum to "to promote collaboration across all firms" in the sector, in order to encourage best practice sharing and strengthen every organisation's cybersecurity.There is no silver-bullet to manage it, but there are practical steps the industry, and the customers we serve, can take to ensure we're well protected against attack," said Chris Cummings, chief executive of TheCityUK.
The server outage that caused Salesforce to go down for almost all day last week could cost the company nearly $20 million, according to a note published by the financial services firm D.A."Depending on Salesforce s response and affected customers service level agreements, we estimate this outage could impact current quarter revenue guidance by $20 million," the note said.For a company that's on track to generate over $8 billion in revenue this year, a $20 million hit won't be much of a dent.But it could lead to more long-term problems, such as trust and reliability issues, as it's almost unprecedented for a cloud service platform to suffer a day-long server disruption.On top of that, as we previously reported, some of the smaller customers do not have service level agreements that would have compensated for the service disruption and data loss."While any repercussions arising from this outage remains to be seen e.g., increased customer churn , this outage is clearly a short-term headwind for a company trying to become a standard platform for business-critical enterprise applications that may cause customers to question the reliability of the platform," DiFucci wrote in a note.The estimated $20 million loss won't have any impact on Salesforce's first quarter earnings, as the outage happened during the company's second fiscal quarter.Plus, the company has been placing more focus on improving profitability in recent quarters, a positive sign for investors.Here is what analysts are expecting, according to Yahoo Finance:Q1 non-GAAP earnings per share EPS : $0.23, up from $0.16 in Q1 2015.Q1 Revenue: $1.89 billion, up about 25.3% from $1.51 billion in the year-ago period.We view as the company in our coverage universe most leveraged to this massive technology refresh and expansion cycle across the CRM market," Credit Suisse wrote in a note Wednesday.NOW WATCH: How to see everything Google knows about youLoading video...
This means that these computerized advisors can offer both mass affluent and wealthy investors a variety of benefits, such as lower fees.Respondents to the survey also said that robo-advisors would by far have the greatest effect on the financial services industry both one year from now particularly in the Americas and five years from now.This is all further evidence that we ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts and partnerships will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.As you can see, this very fluid environment is creating winners and losers before your eyes…and it s also creating the potential for new cost savings or growth opportunities for both you and your company.After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies.These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:Retail banking Lending and Financing Payments and Transfers Wealth and Asset Management Markets and Exchanges Insurance Blockchain Transactions If you work in any of these sectors, it s important for you to understand how the fintech revolution will change your business and possibly even your career.And if you re employed in any part of the digital economy, you ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.Among the big picture insights you'll get from The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.The blockchain is a wild card that could completely overhaul financial services.This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.This exclusive report also:Explains the main growth drivers of the exploding fintech ecosystem.Frames the challenges and opportunities faced by incumbents and startups.Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintechExplains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.And much more.The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution.To get your copy of this invaluable guide to the fintech revolution, choose one of these options:Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more.BUY THE REPORTThe choice is yours.But however you decide to acquire this report, you ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.
New software connects the Pavlok wearable to a user's bank account to shock them if they spend too muchIf overspending is one of your greatest vices, this wristband that helps break bad habits could be your saviour.A British company has teamed up with Pavlok, which gives users electric shocks to help them break bad habits, to trigger the device when users are spending too much money."This is all about giving customers the choice to control how they spend money," said David Webber, the chief executive of Intelligent Environments.If a user exceeds their self-imposed spending limit and their bank balance drops below a pre-determined threshold, Interact IoT will drop the heating down to a temperature also pre-determined by the user.Intelligent Environments provides software to banks and financial services companies that underpins their mobile apps.The company's clients include the Bank of Ireland, Sainsbury's Bank, Lloyd's Bank and Toyota's financial services business.
Photograph: PavlokBank customers who overspend could soon get an electric shock to warn them that they have gone into the red, thanks to an invention from a British technology firm.The banking platform has been developed by Intelligent Environments, which said it hoped to see the technology made available to the public in the near future .These include Pavlok, a wearable device that gives users mild electric shocks to help them break bad habits, and which claims to have already helped hundreds of people quit smoking, nail-biting and unhealthy eating.But Intelligent Environments claims: With the Pavlok integration, users have told us they love it.The firm, which specialises in digital financial innovations, said it was responding to demand, pointing out that contactless payment methods had made it more difficult for people to keep track of their spending, thus increasing the risk that some will get into financial trouble.The company has previously worked with a number of UK financial services companies including HSBC, Lloyds Banking Group and Atom Bank.
Samsung Electronics Co. agreed with Alibaba Group Holding Ltd. s financial-services affiliate to cooperate on mobile payments, as the world s largest smartphone-maker looks to expand its presence in China, a market where it has struggled in recent years.In a statement, the companies said Samsung s mobile payment service, dubbed Samsung Pay, will work with Alibaba affiliate Ant Financial Services Group s Alipay, which has more than 450 million active registered users.For Samsung, which is touting Samsung Pay as a selling point for its premium devices, a tie-up with Alipay could give its service wider reach in a market it is desperate to restore its fortunes in.For Alibaba, working with the world s largest smartphone maker could help it expand overseas, a priority for the company.Last month, Alipay launched in Europe, and earlier this year, Alipay signed a deal with Uber Technologies Inc. to allow Chinese users to pay for rides with Alipay while traveling outside mainland China.While Alipay is mostly used for settling online transactions, it is increasingly being accepted by brick-and-mortar retailers and restaurants around China.
Samsung Electronics has announced a partnership with the parent company of Alipay called Ant Financial Services Group that will expand Samsung Pay in China.Under this new partnership, users can add an Alipay account on supported Samsung mobile phones via Samsung Pay.After registering the Alipay account in Samsung Pay, users can pay with their mobile phone by swiping up from the lock or home screen or sleep mode, choosing the Alipay QR code, and scanning it on the scanner at the register."The reception of Samsung Pay since its launch has been extremely positive and the service has already seen tremendous success in terms of availability and adoption by consumers.At the same time, it also developed a variety of offline use cases, including restaurants, supermarkets, convenience stores, taxis, hospitals and public services.The technology integration facilitated by this partnership with Samsung Electronics will make the payment process faster and more convenient when users make payments at stores where Alipay is accepted."
At 43 inches, it's quite a space hog, but that's because it can display the equivalent of four 1080p monitors in one single block, without bezels interrupting the seamless view.The Dell P4317Q was conceived particularly with those who work in financial services in mind.These people usually have to deal with viewing different sources of information, usually coming from different computers.You can have all four displayed on the monitor's huge 4K screen, which gives each one up to 1080p Full HD resolution when viewed all together.However, it does have a feature that multi-monitor setups can't do, or at least not easily.The Dell P4317Q's $1,349.99 price tag is rather hefty for a monitor, but the large 43-inch screen and energy savings could probably offset that in the long run.
CMO.comTwitter to Stop Counting Photos and Links in 140-Character LimitSocial media marketers have been abuzz this week with a reported change to the way Twitter will be handling character counts — links and images are rumored to soon be excluded from character counts.Many publishers use captions or other forms of text to tell a story within the video, while others simply create video that doesn t need descriptive cues.With Image Search being part of the Google Display Network, your PLAs will be automatically eligible to be displayed in image search results, provided your shopping campaign is opted in to Search partners.Search Engine JournalTwitter Beta-Testing Way to Attach Ads to Tweets in Third-Party AppsAccording to SocialTimes, Twitter s senior product manager Mollie Vandor announced … that the social network is beta-testing a way for brands to display ads from its MoPub ad-serving solution directly via Twitter Kit timelines for Android and iOS applications.Vandor added that all ad rendering is handled automatically, and ads match the themes and color preferences in Twitter Kit so they will display properly within apps.The tool, which was last updated at the end of 2014, has been updated with a more sleek look, matching what you d typically expect to see from a Google property.
Analysis: Cloud strategies from migration to mitigation and financial services running agile development in the cloudIndustry watchers say numbers show accelerated cloud take up but users continue to express concerns about security, flexibility, control and compliance.Says Bob Welton, senior director NTT Communications, "we've seen the early days of people moving cloud ready workloads into hyper scale data centres and public cloud providers.Though not generally known for its bleeding edge technology adoption, the advantages of containerisation and micro services is generating a lot of activity within Financial Services technology and this is even pushing the cloud agenda within FS organisations.In two or three years we'll see firms saying we've got a massive workload to move to hybrid cloud and that they'll be looking for is to improve risk mitigation from cloud suppliers and for cloud assurance from across the globe.From a data perspective it can appear to be quite a segmented market.Does it ensure the necessary compliance for your industry or market in areas such as security and risk.
View photosMoreChinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, March 30, 2016.REUTERS/Kim Kyung-Hoon/File PhotoBEIJING Reuters - China's government has approved a plan to clean up the country's online financial sector, according to people with direct knowledge of the matter, including rules to limit the activities of P2P lending firms, the source of recent fraud scandals.It outlines stricter rules for peer-to-peer P2P platforms, where lending quadrupled last year to 440 billion yuan $67 billion , according to Citigroup research, forbidding them from holding clients' capital in-house."Good platforms welcome government regulation for a simple reason: without good rules, bad players push out good players," said Wang, adding a lack of regulation forced all platforms into unfair competition.Last month, police arrested 21 executives at Zhongjin Capital Management - a high-profile Shanghai-based platform that promised retail investors double-digit returns for short-term projects - accusing them of "illegal fundraising."The government is also calling for the establishment of a centralized registration system for Internet financial products and a unified platform for Internet bank accounts.
Deutsche Bank May Punish Staff for Personal Trade With Firm Bloomberg -- Deutsche Bank AG halted bonus payments to a group of employees while examining whether they improperly traded with the firm.2.U.S. Stocks Rise Amid Buffett s Apple Bet, Oil Rally; Bonds Slip Bloomberg -- U.S. equities climbed as Warren Buffett s bet on Apple Inc. sent the iPhone maker s shares rallying, while crude oil s surge to a six-month high amid speculation a supply glut has eased boosted commodity-producer shares around the world.5.Dollar Jumps as Fed Minutes Boost June Hike Odds; Bonds Retreat Bloomberg -- The dollar rallied and Treasuries plunged after minutes of the Federal Reserve s last meeting showed officials discussed raising rates as early as June.The Commodity That No One Knows About But Everybody Wants to Buy Bloomberg -- The world s mines and steel plants got so devalued during the commodity slump that some were just given away by owners struggling to cut losses or debt.Bonuses for Traders, Hedge Fund Managers Seen Falling in 16 Bloomberg -- Bonus pools could decline by as much as 20 percent for some Wall Street workers this year, with incentive pay falling at almost every type of financial-services firm, according to compensation consultant Johnson Associates Inc.9.I Hate My IPhone, and I m Not Alone: Brooke Sample & Shira Ovide Bloomberg View -- I have an iConfession: I hate my iPhone.2.
The battle is especially intense because hundreds of millions of smartphone users and businesses have embraced payment via phone in China, where credit-card use is limited.Tencent—whose WeChat app has 762 million monthly active users—is spending heavily on discounts and distinct features, as well as making alliances to allow it to offer more on-demand services.The aim: win over hundreds of millions of Alipay users like Wang Wei.Payment platforms enable them to collect more data on transactions, which can help them tailor financial services from wealth management to consumer lending.Since February, Tencent has also been trying to get more overseas stores to accept WeChat Pay.Alipay already offers a wide range of overseas payment services for Chinese travelers.
REUTERS/Kacper Pempel/FilesBy Huw Jones and Tom BerginLONDON Reuters - The SWIFT secure messaging service that underpins international banking said it plans to launch a new security program as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist.The Society for Worldwide Interbank Financial Telecommunication SWIFT s chief executive, Gottfried Leibbrandt will tell a financial services conference in Brussels that SWIFT will launch a five-point plan later this week.SWIFT wants banks to drastically improve information sharing, to toughen up security procedures around SWIFT and to increase their use of software that could spot fraudulent payments.Leibbrandt will again defend SWIFT s role, saying the hacks happened primarily because of failures at users.Users frequently do not inform SWIFT of breaches of their SWIFT systems and even now, the co-operative has not proposed any sanctions for clients who fail to pass on information, which SWIFT itself says is key to stopping future attacks.Some critics say SWIFT should also be more active in auditing clients and be ready to cut off members whose security is not up to scratch.
Blockchain, a vast global platform based on a distributed ledger, establishes the rules — in the form of computations and heavy duty encryption — that enable two or more parties to transact or do business without needing a third party to establish trust.Rather than relying on a bank, government or other intermediary to create trust, the blockchain ensures it through mass collaboration and clever code.Trust is built into the system, which is why we call blockchain the Trust Protocol.Blockchain good, bitcoin badMany people, especially those in the financial services industry, are excited about the potential of blockchain technology, but believe that digital currencies like bitcoin are unfeasible, undesirable or even dangerous.This streamlining could reduce electricity usage too, which is good for the environment.Craig Wright is Satoshi NakamotoEarly this month, Australian entrepreneur Craig Wright claimed to be the pseudonymous creator of bitcoin, Satoshi Nakamoto.
The new Dell 43 Multi-Client Monitor P4317Q is able to include up to four separate Full HD display inputs at the same time, allowing workers that need multiple displays to do more at once.The monitor is designed mainly for the financial services market but the company claims the unit can be used in other industries too.The Ultra HD 4K display is able to show four different 1080p inputs without any bezels blocking between.There is a range of connection options available, including four USB 3.0, two HDMI, one DisplayPort, one Mini DisplayPort, and one VGA port.The monitor also offers improved energy savings of up to 30 percent compared to multiple devices, Dell claims, and even comes with some powerful 8W speakers.As the top monitor brand in the world for three years and in North America for 16 years running, we want to show our commitment to our customers by teaming directly with those who would benefit most from this monitor, specifically financial traders and software developers, said Bert Park, general manager, Dell global software and peripherals.