Tagged: digital technology

October 26, 2020 @ 12:39 pm By Omar Faridi  |  

Technological innovation is not a new development or concept. During the past decade, however, a “powerful wave” of innovation based on digital platforms and applications has emerged and has now become synonymous with the tech industry, according to a report from the Boston Consulting Group… Read More

October 26, 2020 @ 9:57 am By Omar Faridi  |  

The data economy of the Internet has led to most interactions becoming a transaction, according to a report from InnoPay, a consultancy firm specializing in digital transactions. The report notes that “future relevance” for traditional banking institutions is “no longer based on payments alone.” The… Read More

October 25, 2020 @ 8:35 pm By Omar Faridi  |  

Digital commerce platforms with experience-centric models are attractive to investors because of their focus on “long-term value creation,” according to a report from KPMG. Other businesses are also taking advantage of the benefits of experience-centric models, including ridesharing apps, media channels, Edtech companies, healthcare service… Read More

October 25, 2020 @ 5:02 pm By Omar Faridi  |  

The COVID-19 pandemic has accelerated the shift to digital with financial services, according to a recent report from TransUnion (NYSE:TRU), a financial services data platform and credit report provider. The report notes that the Coronavirus outbreak sent “shockwaves” through the financial services sector and has… Read More

October 20, 2020 @ 11:13 pm By Omar Faridi  |  

Triyono Gani, the head of digital finance innovation at Indonesia’s Financial Services Authority (OJK), notes that it may have taken a long time for people to understand one of Bill Gates’ quotes, “Banking is necessary, but banks are not.”  Gani points out that Gates actually… Read More

October 19, 2020 @ 10:02 pm By Omar Faridi  |  

  Dubai Economy recently brought together the main stakeholders in the country’s cashless economy ecosystem at the Future Economy Lab event (workshop). The event was conducted as part of the UAE’s ongoing efforts to address COVID-19 related challenges. The Middle Eastern country is focused on… Read More

October 19, 2020 @ 8:02 am By Omar Faridi  |  

The COVID-19 crisis has led to major changes in how financial services professionals prefer to do their jobs in the future. Around 50% of workers in the financial sector say they would like to keep working from the comfort of their home for at least… Read More

October 17, 2020 @ 6:30 pm By Omar Faridi  |  

Latin American (LatAm) economies are growing rapidly and the region presents “a unique set of circumstances that is unlike any other region in the world,” according to a report from Atlantico, titled “Latin American Digital Transformation 2020.” The report notes that this uniqueness has helped… Read More

October 14, 2020 @ 8:22 pm By Omar Faridi  |  

The global digital banking market demand is expected to reach $12 trillion by 2026, according to a new report. The digital banking market from corporate banking is now on track to expand at an 8% CAGR from 2020 to 2026. This growth may be attributed… Read More

October 12, 2020 @ 8:55 pm By Omar Faridi  |  

Artificial intelligence (AI) and machine learning (ML) algorithms are increasingly being used by Fintech platform developers to make more intelligent or informed decisions regarding key processes. This may include using AI to identify potentially fraudulent transactions, determining the creditworthiness of a borrower applying for a… Read More

October 12, 2020 @ 8:00 am By Omar Faridi  |  

The COVID-19 outbreak has accelerated the shift towards the increased use of all-digital platforms and services by consumers across the globe. Ajay Bhalla, president of Cyber and Intelligence for Mastercard, says that the “new normal” is not a new development anymore and that we need… Read More

October 11, 2020 @ 6:30 pm By Omar Faridi  |  

Mendix, a Siemens business and a major low-code application development platform for large enterprises, has formed a strategic alliance with Deloitte Canada, a member company of one of the largest professional services firms, in order to use the Mendix low-code software development solution “on behalf… Read More

October 9, 2020 @ 12:00 pm By Omar Faridi  |  

We recently connected with Michael Rennie, a U.K.-based product manager for Mendix, a Siemens business and the global leader in enterprise low-code. Mendix pioneered the low-code product category 15 years ago. The low-code approach addresses the coder crunch, the growing demand for software applications, and… Read More

October 7, 2020 @ 11:00 am By Omar Faridi  |  

Bank of America or BoA (NYSE: BAC) has introduced a digital tool, called Life Plan, which aims to help clients with setting and keeping track of their financial goals. The new tool is now available through the BofA’s digital banking app and official website. Life… Read More

September 28, 2020 @ 2:58 pm By Omar Faridi  |  

Claire Gillespie, Digital Technology Skills Manager at Skills Development Scotland, recently explained that apprenticeships or training programs can really help the Fintech sector with making a recovery and also substantial progress after the pandemic has passed (even though it’s still not clear if/when this will… Read More

September 28, 2020 @ 9:16 am By Omar Faridi  |  

Sridhar Iyer, the Executive Vice President and Head of Mashreq Neo (the digital banking division launched in 2017), recently noted that the United Arab Emirates (UAE) has one of the highest smartphone or mobile Internet penetrations rates in the world. Iyer claims that the UAE’s… Read More

September 27, 2020 @ 6:16 pm By Omar Faridi  |  

Mo Ali Yusuf, the VP at Checkout.com for the MENA and Asia Pacific Region, says he’s looking forward to teaming up with NiFT and the Fintech ecosystem in Pakistan in order to support the growth of digital commerce and virtual payments in the country. Pakistan’s… Read More

September 26, 2020 @ 8:54 am By Omar Faridi  |  

AI and machine learning network Fetch.ai has unveiled an outcome of its developer engagement project, which aims to make it easier to develop applications and related services on top of the Fetch.ai network. The Fetch.ai team noted that they’ve built what they call an “Autonomous… Read More

September 25, 2020 @ 3:59 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has released a new report, titled “Technology Vision for Cybersecurity for Urban Co-operative Banks – 2020-2023.” The RBI notes that the document makes recommendations or suggestions on how to improve the nation’s cybersecurity infrastructure of its urban co-operative banking… Read More

September 24, 2020 @ 7:56 pm By Omar Faridi  |  

Markus Jun, founder and CEO of ICON’s Accelerator Partner and Seoul Launchpad of ICXStation, HyperConnector (online accelerator for the ICON ecosystem), recently confirmed that ICONLOOP‘s VisitMe has surpassed 100,000 users and more than 1,000 sites are now using the service. Jun noted that these sites… Read More