How to safeguard your banking transactions

| July 8, 2019

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Advanced banking technology helps us access our money at the click of a button. However, it is important to ensure such facilities are used wisely, so that we do not fall victim to fraud or misuse of our money. Here are some checks that one can put in place to prevent frauds. Online banking checks One must memorise the Net banking password and not divulge it to anyone or even write it down anywhere. One should access Net banking from a known computer with a secu re network. It is not wise to carry out Internet banking from a public computer or an unsecure network. Use the hovering digital keyboard to key in login details instead of the computer keyboard. One should always remember to log out of the website after use.

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OTHER ARTICLES

4 Things that Automatically Disqualify You for a PPP Loan

Article | April 9, 2020

As millions of small business owners are applying for low-interest loans associated with the Paycheck Protection Plan, I can’t help but think of all the small business owners I personally spoke with over Facebook last weekend as the PPP got off to a rather bumpy start as lenders tried to absorb the new regulations associated with the SBA’s disaster relief loans. With that in mind, it seemed like a good time to share 4 things that automatically disqualify you for a PPP loan and talk about an option or two for next steps.

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How Fintechs Expanding in Latin America Can Build Trust with SMEs

Article | February 10, 2020

Small businesses in emerging economies are notoriously underfinanced. Despite making up over 99.5% of the economy in Latin America, SMEs face a financing gap in the trillions of dollars. For example, up to 78% of small businesses in Argentina and 45% in Peru struggle to grow because of financial constraints. Numerous articles and institutional white papers point to the lack of trust between banks and SMEs as a major cause of this financing gap. Banks simply do not know how to accurately calculate small business risk, especially in volatile economies in Latin America, so they offer high interest rates or pass on providing credit altogether.

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The Asian Financial Services Industry Needs a Customer Data Platform

Article | December 10, 2020

Customers in the financial services industry want personalized experiences. They, in fact, expect and demand them from their service providers. They prefer to stay loyal to a company as long as they receive this special treatment. As a result, personalization has become the number one priority for marketers in the industry today. They are waking up to the realization that delivering personalized experiences highly depend on understanding customer data.marke Very few companies have the means to understand this data and use it to enrich the customer experience. The technology that has been recently making waves in every industry is known as the Customer Data Platform (CDP). A CDP is a packaged SaaS (software-as-a-service) product that is designed to build a unified customer database for an organization. Implementing a CDP can help achieve consistent customer engagement, increased loyalty, and higher sales. David Raab, CDP evangelist and Founder of the CDP Institute, was invited as a chief guest at the Customer Data Summit 2018 event organized by Lemnisk. David is a widely recognized thought leader in marketing technology and analytics. He was one of the first people to recognize that digital marketing systems were not just proliferating but also the data that these systems were throwing up were getting grouped into silos, making it really hard for marketers to understand customers holistically. David also realized that there was a tremendous opportunity if he could bring these disparate systems together. Around this insight, David coined the term CDP and founded his institute in 2016. The CDP Institute’s work has been seminal in helping marketers understand the need for a CDP and the ways that they can derive value from it. David’s thought-leadership session imparted the following key insights: The most challenging barrier to Marketing Automation success is data integration between the various marketing systems of an organization. Financial marketers in Asia face the same challenges as their peers elsewhere, which include unifying customer data, providing superior customer experience, working within compliance constraints, and finding the budget to pay for solutions. The CDP industry has seen a good growth rate of around 73% over the last 12 months. Two-thirds of the growth is attributed to new vendors and the remaining to existing vendors. The adoption rate has been high for B2C marketers as their businesses depend highly on user engagement and digital conversions. Companies that opt for a CDP prefer to have a complete packaged solution that includes the core CDP functionality along with analytics and engagement. A CDP works well when all marketing systems are interconnected. One interesting observation is that one-third of CDP users lack an integrated technology stack. Companies that claim to have a CDP do not have this system integration and, therefore, do not fall under the CDP-classified vendors. Things such as churn prediction and predictive modeling are a set of classic algorithms that thrive on good data. Artificial Intelligence (AI) is totally data-driven and works well with data that is highly detailed. A CDP can play a major role in developing custom algorithms and advanced intelligent systems such as AI. One of the things that it can do is create a standardized variable or model score and make that shareable to all systems that it connects to. Of its various capabilities, a CDP also enables cross-device personalization by associating each device with the customer’s master ID when they log in. The master ID is used to build a unified customer profile with all device data. The right message for each master ID is selected and shared with all devices. The unified and complete customer profiles help financial marketers in selecting the right message and deliver a consistent experience across all devices. It is still early days for a CDP in Asia. Many organizations are still at the stage of learning for themselves why options such as DMP (Data Management Platforms), Enterprise Data Warehouses, and marketing clouds won’t solve the problem that a CDP addresses. The core technologies used in Asian financial institutions can support any level of marketing sophistication that their users are ready to deploy. The early CDP adopters are touted to have an advantage over others in the industry.

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AI in Banking – An Analysis of America’s 7 Top Banks

Article | February 13, 2020

While tech giants tend to hog the limelight on the cutting-edge of technology, AI in banking and other facets of the financial sector is showing signs of interest and adoption even among the banking incumbents. Discussions in the media around the emergence of AI in the banking industry range from the topic of automation and its potential to cut countless jobs to startup acquisitions.

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Spotlight

Seedrs

Seedrs is the world’s leading equity crowdfunding platform. We make it simple for anyone from angels and venture capitalists, to friends and family to become investors in ambitious, growth-focused European businesses. You can invest as little or as much as you like, and we handle all of the legal documentation and due diligence to ensure that businesses are set up for success and investors get their fair share.

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