Digital Unplugged: Focus on the Payments Landscape

| December 10, 2018

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Until now major banks, credit card companies and financial giants have controlled the $100 trillion  payments industry. But with new technologies emerging, fintech companies starting up and regulation evolving, all involved now need to re-assess the way that they do business.Learn more about the trends that are disrupting the financial service industry as well as their impact.

Spotlight

Flagship Financial Services, LLC

Home Flagship Financiail is a small, locally owned and operated mortgage banking firm licensed in the state of Florida and is uniquely positioned to offer the professional, personalized service you just can’t get from a large national bank or mortgage company. We underwrite, close, and fund the loans we originate, just like the larger national companies while delivering the lowest possible rate and closing costs.

OTHER ARTICLES

Machine Learning for Financial Services: Hype or Reality?

Article | March 8, 2020

There’s an ongoing debate as to whether new trends in machine learning are mere hype or are actually providing tangible business value and helping shape financial services pricing and offering strategies. A survey of about 200 global insurance professionals conducted by Earnix in 2017 showed that more than half of the respondents are using machine learning technologies in their business. At the same time, only 14% view machine learning as a core strategy that all areas of the company are encouraged to use.

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HOW OPEN BANKING IS CATALYZING PAYMENTS CHANGE

Article | March 30, 2020

Since the adoption of PSD2 by the European Parliament in 2015, there’s been growing momentum behind Open Banking. This is set to reach new levels in 2020, as Open Banking catalyzes innovation and efficiency across the world of payments. That makes it one of the most important trends in the industry right now. Open Banking regulations require banks to open up their systems and data to third-party providers. This is causing banks to reinvent their payments business models and build ecosystems of services

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WHY FINANCIAL INSTITUTIONS ARE ON CLOUD NINE POST-PANDEMIC

Article | June 4, 2021

Financial institutions have, for a while now, been operating in a highly cost challenged environment. These firms will continue walking the tight rope of executing on efficiency, digital transformation and supporting the business. Post-COVID when our dear planet begins to get back to some form of normality in the months ahead, it does not necessarily assume that wallets will be loser and further budget constraints are expected to be with us for some time. As we know the Genie is out of the bottle on the whole “agile” working theory and the Cloud providers have responded in kind such as providing virtual desktops and VPN solutions. Of course not forgetting the Video calling enablement which has coined a phrase never to leave our vocabulary “sorry I was on mute”. Cost pressures aside businesses are already reassessing the effectiveness of their technology stacks. I believe we will see an acceleration of an already giddy pace by firms to move parts of their estate and applications to the public cloud. It is not only essential from a practical basis covering the usual themes of cost, storage planning on demand compute etc but if you want to retain the best talent in technology you need to be exposing them to the likes of AWS, GCP and Azure in some form. Data is the new oil As to my world in data various analogies “data is the new oil” etc, but getting beyond the taglines the public cloud is shaking up the status quo. From off-the-shelf Amazon style access to data products via a web store or to throw in another term “supermarket”. Fundamentally the barrier to entry for clients to access data, storage and enormous compute resource is really down to what you can afford. Efficiencies on compute, serverless technologies pay for what you use not pay for standby is changing the paradigm in architecture. Thereby pushing boundaries in innovation, experimentation and exposing teams to AI/ML as a utility as opposed to things you read about in journals or online. No two businesses are the same which is why certain firms are further in the journey than others. But regardless of the path financial institutions decide to go down, it does not change the fact that data needs to be delivered to the right place, at the right time, and in a preferred format. Some firms will simply want their channel partners to ship data into the cloud as an end point. From Satellites to the Cloud This leads me into my next comparison. I was lucky enough (or unlucky) to be there when the internet created another paradigm shift as a delivery end point for data. Prior to that I spent many years plugging firms into Satellites or Leased lines for the delivery of Market Data. As a younger man I thought those days would never end! If the internet became the end point that people used to get data into their own network, then the cloud to a certain extent is the modern day equivalent. After all, if firms want to use cloud as an end point into a physical data centre or on-premise, they can do that. Alternatively, if the firm wants to use the data exclusively within the cloud, then that is also achievable in this day and age.

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How has Fintech helped with battling Covid-19?

Article | March 30, 2020

As the pandemic known as Covid-19 is changing the way we live our lives, there are a couple of innovative technologies that have made this transition period much easier. We don’t know much about this virus but so far it has completely turned the world upside down. Not only are we running a risk of overwhelming our healthcare systems and possibly losing thousands of lives to this virus, the effect that COVID-19 has had on the economy could easily be compared to the 2008 crisis.

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Spotlight

Flagship Financial Services, LLC

Home Flagship Financiail is a small, locally owned and operated mortgage banking firm licensed in the state of Florida and is uniquely positioned to offer the professional, personalized service you just can’t get from a large national bank or mortgage company. We underwrite, close, and fund the loans we originate, just like the larger national companies while delivering the lowest possible rate and closing costs.

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