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Snapshot of biometrics across the world

Biometric identification has finally advanced to the point where it is starting to radically change the way we interact with the world, making life more convenient for users and helping businesses reduce costs, shorten customer service time, increase security, optimize business processes and, ultimately, increase profits. Here’s a quick look …

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A brave new world of biometrics

The use of biometric solutions is becoming increasingly popular with retailers, financial institutions and consumers due to the convenience and security they offer. Given the biometric world that appears to be in our not-too-distant future, the editors of BFC’s FinTech Bulletin and the telegram channel FinTech Wave put together this …

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5 key takeaways from Money20/20

Money20/20 was held earlier this year in Las Vegas. Here are 5 key takeaways from the event: The distinguishing lines between merchants and FinTechs continue to blur –  Uber created a team called Uber Money that will be responsible for its various FinTech offerings. And now Amazon is enabling utilities …

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Video: Big Data challenges and opportunities

Sui-Jon Ho discusses how data is being used in financial institutions and why Big Data is presenting them with unique challenges and, more importantly, opportunities.    Digitalization levels in Kazakhstani financial institutions extremely low Russian banks’ tentative start with open APIs Top 10 data breaches to impact the financial services …

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3 Big Data trends in finance

Global investments in Big Data and business analytics is projected to grow from USD 130.1 billion in 2016 to over USD 203 billion in 2020. Here are 3 of the biggest Big Data trends, each represented by an innovative new solution: Business intelligence (Qlik Analytics Platform) – Qlik has developed …

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How to survive a data breach crisis: the Monzo case study

Monzo, a disruptive neo-bank working to expand into the U.S., recently experienced a hiccup in its data security that resulting in nearly 500,000 U.K. account holders being urged to change their PIN numbers. It is important to note that the vulnerability was discovered by internal engineers and quick and decisive …

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Banco Santander launches data science apprenticeship program

Banco Santander in the UK is offering a first-of-its-kind data science apprenticeship to non-graduates. The program, being operated in conjunction with WhiteHat, will allow the bank to build a pipeline of data savvy employees, something in line with its EUR 20 billion digital transformation effort. The program also highlights the …

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Shocking amount of unstructured and unused data in the U.K.

According to research conducted by Crown Records Management, as many as 59% of data across U.K. organizations is unstructured. Moreover, 40% of it is dark (unused). This is not surprising given that data is commonly stored in over 20 types of locations, including email account, the cloud, hard drives and …

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6 ways financial institutions in Singapore are using Big Data

Singaporean financial institutions have been at the forefront of taking advantage of Big Data with innovative initiatives that have resulted in positive results for both operational efficiency and customer satisfaction. Here are 6 ways in which they are using Big Data today: Automating client processes – machine learning helping automate …

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HSBC opens data innovation labs in London and Toronto

HSBC has opened two data and innovation labs, one in London and the other in Toronto. The labs will engage in activities aimed at improving HSBC’s products and services through the use of analytics and robotics. The labs will also cooperate with firms specialized in other important areas such as …

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Balancing data privacy rights

Data is quickly becoming a point of contention between companies working to collect, process and secure it and governments seeking to force companies to provide them the data they possess. The debate between the two sides revolves around an age-old debate: freedom vs. security. While governments argue that they should …

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European Commission launches antitrust investigation against Amazon

The European Commission has launched an antitrust investigation against Amazon that could result in USD 23 billion in fines. The investigation stems from the fact that Amazon is itself a seller and also serves as a platform for others to sell. Authorities are concerned that Amazon collects information on the …

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6 startups that will reshape wealth management

FinTech startups are reshaping the financial world, including wealth and asset management. Here are 6 WealthTech startups that are promising to change the way we manage our wealth: Cred – Cred uses artificial intelligence to help financial institutions deliver highly-personalized investment portfolios to digital clients. Responsive.ai – not just another …

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Revolut launches stock trading platform

British FinTech firm Revolut is jumping into the online brokerage space with its own commission-free stock trading platform, which is being run in partnership with U.S. broker DriveWealth. The company launched the service, which lets users buy or sell popular stocks with the tap of a button, as a way …

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