How Liveness Detection prevents identity fraud. 2

Weekly analysis & opinion highlights 31 July 2020

According to Haohan Xu, CEO at Apifiny (a global liquidity and financial value transfer network), digital asset exchanges must overcome diverse obstacles to attract institutional traders who will generate the sector’s next growth wave. With the rise of market fragmentation, operating globally has had an impact on digital asset trading. Crypto exchanges need to pair up with local fiat currencies for their trading, which leads to acting in isolation on the trading market and having limited liquidity. Read more

Regulatory and market pressures have increased the workload and also created a competitive environment where speed and flexibility are increasingly necessary operating traits. According to Fintech Futures, insurers find that a large sum is going towards fund expenses, and only solutions such as automation and technology investments can help. Automation used in a targeted and thoughtful way can be one approach to make a real difference to how insurers manage their business. Read more

It has become a standard for businesses to carry now an insurance to protect themselves against income losses. Joseph Galanti, senior managing director at BDO USA LLP, and Peter Halprin, partner at Pasich LLP, discuss recommendations and advice to monitor developments and take steps to protect the businesses’ rights to recover under their insurance policies and to maximize those recoveries. As such, identifying and reviewing policies and tallying your losses can be key elements to consider. Read more

Chris Skinner, best known independent blog commentator on the financial markets, discusses the rising trend of banks adopting the cloud system, with examples such as  National Australia Bank (NAB) switching to Microsoft’s Azure, and Deutsche Bank moving to the Google Cloud. Although using the cloud before was considered by traditional banks as risky, Covid-19 has pushed them to adopt this technology due to the high numbers of employees working from home. Read more

For insurers, the success of remote work varies across the C-suite, as Jim Bramblet, Managing Director – Insurance Lead, North America and Jeana Muñoz, Managing Director – Insurance Consulting state. While the general opinion on the executive level regarding remote working stays positive, differences still arise, with 82%t of CIOs thinking that their firm was prepared when the crisis began and 74% of COOs agreeing their employees had the necessary tools and technology to work remotely and only 64% of chief human resources officers (CHROs) believing that their firm was prepared to deploy a remote workforce. Read more

Microsoft is collaborating with Mastercard to accelerate innovation across digital commerce and startup ecosystems. The new partnership has three goals in mind from both sides: 1) to build new commerce experiences; 2) to expand financial participation in the digital ecosystem globally; and 3) to drive startup innovation to push those goals forward worldwide. With Mastercard’s recent aim of extending financial inclusion to 1 billion consumers and 50 million small and micro businesses worldwide, Microsoft technology can help them achieve that. Read more

Matthew Blake, Head of Financial Services, Member of the Executive Committee, World Economic Forum (WEF) speaks to FinextraTV following CCAF and World Bank’s commentary on their collaborative study together, into the impact of Covid-19 on Global Fintech. Read more

The Paypers explores the key drivers of innovation for B2B payments. Around the world, B2B payments growth is driven by technological innovations within the industry, changes in customer behaviour, new market participants, new technologies and changed market infrastructure. One popular trend now for companies is to take advantage of the card schemes network, which has the capabilities to meet the requirements of B2B payments. Read more

Prema Varadhan, Chief Product Architect and Head of AI at Temenos, tells FinextraTV about the recently launched Economist Unit report on AI and the thinking behind the research. AI Innovation is a differentiator in banking and it has been impacted during Covid-19. AI helps banks support their customers. Read more

The No More Ransom decryption tool repository, an initiative launched by Europol to combat ransomware attacks, has saved individuals $632 million in ransom demands since 2016. Over the past four years, the repo has gathered over 4.2 million visitors from 188 countries thanks to a compilation of tools from 163 partners. Read more

Since its launch in 2009, there has been increasing interest in Bitcoin and other cryptocurrencies. Initially mostly discussed in popular media, more recently a growing body of academic research has emerged on the topic, spanning many fields such as macroeconomics, law and economics, and computer science. Read more

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