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Kazakhstan to create Personal Data Agency

The government of Kazakhstan is planning to create the Personal Data Agency under the Security Committee of the Ministry of Digital Development. This new agency will be responsible for coordinating and improving the storage and security of personal data. This includes work to prevent and respond to personal data leaks. …

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Russia debates the personal nature of Big Data

Amendments to Russia’s Law on Information, Information Technologies and Information Protection are currently being discussed and could have major implications for how Big Data is used in the country. The discussion centers around whether Big Data (which does not contain personal data per say but could potentially be further processed …

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Biometric identification still far off for Kazakhstan’s financial sector

In Kazakhstan, biometrics as an identification tool is still a far-away dream. Currently, the existing state database of citizens is being used for biometrics in the country. Although 11 financial institutions have connected the database, only 3 are actively testing the system’s biometric identification capabilities. And even within those 3 …

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Russia’s Central Bank outlines information security strategy

Russia’s Central Bank has published its Main Directions for the Development of Information Security in the Credit and Financial Sphere for 2019–2021. The document outlines a plan to combat cyber threats, including proposed regulations regarding the use of Big Data, artificial intelligence, robotics and the internet of things in the …

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Ethics in Big Data is becoming a big deal in Russia

Participants in Russia’s emerging Big Data market, including the Internet Development Institute (IRI) and the Big Data Association (ABD) (which includes Yandex, the Mail.ru Group, Sberbank, Gazprombank, MegaFon and Rostelecom), have developed a self-regulatory ethics code that, in their opinion, will allow the industry to move forward and avoid any …

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Where to find Big Data in Russia

The data market is starting to come to greater prominence around the world. Perhaps nowhere is this truer than in Russia, where the data market is still largely in its infancy. In fact, the government of Russia is still trying to figure out rules for balancing data use and privacy …

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How Alfa Bank is turning Big Data into big profits

Understanding the importance of Big Data and other digital technologies in the modern world, Alfa Bank has developed a strong digital strategy and become a leader in Big Data. To accomplish its digital- and data-related goals, Alfa Bank created its own data management and monetization center. The center, whose primary …

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Going digital increases financial service accessibility

One of the most pressing issues for financial institutions in Russia is how to make financial services available to those living in small towns and remote settlements. For much of history, financial institutions had to make efforts to develop physical infrastructure to reach these consumers; however, such investments were typically …

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QIWI Group launches Big Data analytics platform

QIWI Group has created its own platform for solving problems related to in-depth analytics and data monetization. QIWI Data is the result of more than 5 years of research into Big Data and offers the group of companies the ability to process data faster as well as increase data security. …

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Datathon organized to connect Belarusian companies with startups

Imaguru Startup Hub organized a Datathon to help Belarusian companies understand the importance of Big Data as well as connect them with startups that can help them achieve truly effective and innovative Big Data solutions. During the Datathon, teams were presented with tasks to be solved using Big Data solutions. …

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The state of Big Data in Armenia

Big Data is one of the biggest buzz words in the tech world right now. In Armenia, however, most companies have yet to adopt Big Data technologies. In fact, experts estimate that the level of Big Data tech and use in Armenia is on par with the world average 4–5 …

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Big Data’s big budgets

A recent survey has shown that more than half (55.4%) of Russian companies have a dedicated budget for implementing Big Data analytic solutions. These budgets account from anywhere between 5–10% (and sometimes more) of a company’s annual budget and can amount to as much as RUB 10 million. Moreover, some …

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Where to make money with your money

For those looking to invest funds as a way to make money with money, there are 7 main ways to consider in the Russian market: Bank deposits – this low-risk, low-profitability investment is the safest way to invest money. It also allows depositors to have instant access to their funds …

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Attracting migrant remittances for investments into the Kyrgyz economy

According to economist Kubat Rakhimov, Kyrgyzstan has work to do if it is to ensure that laborers working abroad will make investments into the Kyrgyz economy. Specifically, he notes that the government needs to engage with the real economy and create attractive investment conditions. In this way, investments will happen …

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Bakai Bank launches anonymized precious metal accounts

Bakai Bank has launched a new service – depersonalized metal accounts. The service allows consumers to conveniently invest in grams of gold, silver and platinum. The depersonalized nature of the service means that consumers do not have to worry about transporting and storing metals. It also allows for easy and …

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Banks reviewing how consumers get perks from income cards

Income cards have become popular around the world due to their convenience and the benefits they provide. For example, some income cards not only serve as a bank account, they also offer reward programs and generate interest on existing balances. For banks, income cards have become a key way to …

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Survey of Kazakhstani choices in savings accounts

A recent survey of 1,600 Kazakhstanis from 45 locales around the country indicates that a majority (55%) pay attention to the financial information of financial institutions, including credit rating and amount of equity. At the same time, more than half also indicated that they are still not ready to give …

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Online foreign currency deposit options in Uzbekistan

With Uzbekistan’s national currency depreciating for 15 consecutive weeks and the United States dollar setting new records almost every 2 weeks, here is an overview of the 7 financial institutions in Uzbekistan that offer online foreign currency deposits: Learnbank – the Comfort Deposit can be opened remotely and requires a …

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Yandex Money, Phinex Plus launch trust management service

Yandex Money and Phinex Plus have launched Yammi, a trust management service to help investors invest in Phinex ETFs. Yammi is a roboadvisor that offers investment recommendations based on a computer algorithm that defines user profiles. Despite the promise of the new system, there are still issues with it. For …

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