How to “Vet” Your Travel Insurance Policy

| October 21, 2016

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Critics of travel insurance often argue that claim denials are too frequent, unfair to the customer, and might be avoided if issuers vetted policy applications at the time of distribution instead of when a claim is made. The rationale for that argument is that applicants could then be certain that their policy would pay off in case of medical emergency abroad.

Spotlight

NMN Advisors, Inc.

Founded in 2001, NMN Advisors is a strategic investor relations firm based in the Bay Area with broad experience working with public and private companies. Our firm is comprised of senior-level professionals with in-depth expertise in all facets of financial communications, including pre-IPO programs, transaction communications and crisis communications management. NMN Advisors offers expert counsel to our clients, ensuring credible and consistent communications to Wall Street. By combining senior consultants with deep and broad experience, a high-level of service and strong Wall Street relationships, we create an unmatched value for our clients and their shareholders. Investor Relations, strategic messaging and positioning, global institutional shareholder targeting, M&A strategy, pre-IPO support, crisis communications, corporate governance, board communication issues, disclosure and counsel, temporary IR staffing

OTHER ARTICLES

Coronavirus — How Fintech Helps

Article | March 30, 2020

The effects of Coronavirus on humanity, and what it is doing to the health and well-being of those around us, is very clear. We see the devastating effect it is having on people’s lives, and the level of fear is growing each day. I do not wish to add to this with another article based on the risks posed to people if they go outside. For me, it is important to discuss ways in which life can be improved during this moment, and I hope to do just that. However, before I do, I would like to extend wishes of health, peace of mind, and give my thoughts and prayers to those who are dealing with the difficulties we are all facing together as human beings.

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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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How Blockchain is Changing the Banking Industry

Article | June 28, 2021

How Blockchain is Changing Banking and Finance Industry We all have basic knowledge about Cryptocurrency and Blockchain technology, and many peoples understand its complex structures and its valuable benefits for the future. That's why many peoples believed that it's the future of currency exchange. Apart from Cryptocurrencies like Bitcoin, Dogecoin, Etherium, etc., Blockchain has the potential to use the existing technology up to its peak to exchange transaction information and data. With more security and easy to trace back previous transactions benefit, we can say it is the new age of Electronic currency to avoid human errors and frauds. Blockchain technology in Banking Around the many conspiracies and fake theories about Blockchain and Cryptocurrency, many organizations and even countries like Australia, China, Japan, and other developed nations embraced this Blockchain in Banking as a future of seamless exchange of transactions. Apart from that, its decentralized transactions are easy and more secure than we have today. Blockchain could change the current banking technology used by its admins to trace and track the record of every exchange of digital money to lessen the frauds and reduce the time and human efforts. Prominent players of the Bank and Finance Industry like the Bank Of America, JP Morgan Chase, Citi Bank, and other renowned players of finance sectors using Blockchain in banking to improve funds transfer between banking institutions globally and maintain every record of their history of transactions effectively. How Blockchain is helpful in Banking Blockchain technology is a decentralized ledger of transaction which enables the bank to keep track of all the transactions publicly and transparently. It provides a direct connection between the sender and receiver of payments. No intermediary and complete control of the transaction exists in between them. Because of this reason, it provides a way for financial services to work more specifically and without errors to make payments securitization more precisely. This makes Bitcoins that uses Blockchain technology a better option of investment. Benefits of Blockchain in Banking As you continue to read this article, you might have an idea about this new age technology's immense benefits in the finance sector. Let's take a look at how it can be more helpful in the upcoming future. Security: The primary concern of 21st century’s banks is their security. No one knows who will hack their systems and scatter with the money of people who trust the financial system. With Blockchain technology, security issues such as suspicious activities are easily tracked. It is hard to decode the encryption of the Blockchain and takes too much time because the data is not stored on one server but across a huge network of computers. These computers constantly check and verify the records and data. This feature allows a noteworthy use for Blockchain in banking. For a hacker, it is hard to breach many servers. Every transaction that gets recorded in a Blockchain ledger undergoes complicated sets of encryption interconnected with the next block, which results in an unaltered series of coded data "blocks," each dependent on a ledger series. That's why it is one of the best cyber-protection against hacks in this internet world. Fast transaction: If you want to transfer money to someone living in another country, you go to the bank and might have to stand in the long queue for your turn. Once you forward your request, it takes 5 to 10 days to credit the amount in the bank of the recipient. Blockchain can easily reduce such a long time-consuming process. It has the potential to complete the transaction within minutes, not in a day. It saves your valuable time, though. Easy to track and transparency: No doubt that it is a highly transparent and traceable system as compared to the traditional finance system. Every record of amount can be easily tracked with a digital recording system. It reduces the need for time-consuming and costly third-party verification tools. Also, it undoubtedly offers visibility into the transaction history within the banks' operations. Reduce fraud: It can reduce hacking, DDOS attacks, and other scams. Blockchain helps banks to identify their user's IDs and confirm their detail with digital Blockchain ID. It automatically reduces future frauds, which is the biggest concern of the banking system. How bank can use Blockchain: With Blockchain in banking, financial institutions would not need to depend on the network of custodial services and regulatory bodies like SWIFT. They can easily settle transactions directly on a public Blockchain. Here are few benefits of using the new-age technology. Verifying Digital Identity: Banks can't process online transactions without the verification of a person. This process can be done via face-to-face verification, logging in with passwords, or sending OTP on registered mobile numbers. Although, after the application of Blockchain technology, this process becomes more seamless and more secure due to its accurate data reading capability. Smart Contracts: It might be possible to automate the process of transaction, which costs time, added complexity, and delays the transactions using smart contracts. It is a contract with terms and agreements between the buyers and sellers' business. This computerized contract permits the trustworthy transaction completely free from any central authority or external enforcement mechanism. The new way to do business is here. Faster lending: Loan processing takes too much of the user’s valuable time. It can be reduced with Blockchain. This use of the technology is called Blockchain lending. Blockchain lending can give direct benefit to customers by reducing the growing costs. It provides lenders with a competitive offer and helps them do the transaction faster and without any security defect. Blockchain-based Smart Contracts ensure that loan seeker and lender agree viable and fair terms regarding proof of funds and payment planning for future installments. Blockchain technology has lots of advantages and revolutionary benefits to finance and banking institutions. Though, still, people are generally unaware of this technology and fear of adapting to it. This might cost us time to unify our currency and have a better future. Frequently Asked Questions: How is Blockchain used in finance? Blockchain technology can improve finance and lending services by lowering counterparty risk and shortening issuance and settlement periods. It enables: authenticated paperwork and KYC/AML data, reducing risk exposures and facilitating real-time financial document verification. What is an example of Blockchain? Bitcoin is a well-known example of Blockchain in operation. This is a type of digital money (commonly called a cryptocurrency). This electronic form of funds may be transmitted safely from user to user without the need for intermediaries. In other words, there is no requirement for a central bank or administration. Bitcoin isn't the only currency that uses Blockchain technology. Where can Blockchain be used? Blockchain uses extend well beyond cryptocurrencies such as Bitcoin. With its capacity to increase openness and fairness while also reducing businesses' time & expense, the technology influences a wide range of areas, from contract enforcement to making government run more effectively. What software is used for Blockchain? There is multiple software available in the market for Blockchain technology; some of them are: Solidity is one of the most widely utilized programming languages among Blockchain developers. Geth is a Go-based Ethereum node implementation. Mist is the authorized Ethereum wallet created by Ethereum's makers. Is Blockchain the future? Blockchain technology has several uses in a variety of sectors. Blockchain is already being utilized to help with identity management, smart contracts, supply chain analysis, and many other things. The full potential of Blockchain technology is unlikely to be realized. Till then, it is safe to assume that Blockchain is the future of the Fintech industry. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How is Blockchain used in finance?", "acceptedAnswer": { "@type": "Answer", "text": "Blockchain technology can improve finance and lending services by lowering counterparty risk and shortening issuance and settlement periods. It enables: authenticated paperwork and KYC/AML data, reducing risk exposures and facilitating real-time financial document verification." } },{ "@type": "Question", "name": "What is an example of Blockchain?", "acceptedAnswer": { "@type": "Answer", "text": "Bitcoin is a well-known example of Blockchain in operation. This is a type of digital money (commonly called a cryptocurrency). This electronic form of funds may be transmitted safely from user to user without the need for intermediaries. In other words, there is no requirement for a central bank or administration. Bitcoin isn't the only currency that uses Blockchain technology." } },{ "@type": "Question", "name": "Where can Blockchain be used?", "acceptedAnswer": { "@type": "Answer", "text": "Blockchain uses extend well beyond cryptocurrencies such as Bitcoin. With its capacity to increase openness and fairness while also reducing businesses' time & expense, the technology influences a wide range of areas, from contract enforcement to making government run more effectively." } },{ "@type": "Question", "name": "What software is used for Blockchain?", "acceptedAnswer": { "@type": "Answer", "text": "There is multiple software available in the market for Blockchain technology; some of them are: Solidity is one of the most widely utilized programming languages among Blockchain developers. Geth is a Go-based Ethereum node implementation. Mist is the authorized Ethereum wallet created by Ethereum's makers." } },{ "@type": "Question", "name": "Is Blockchain the future?", "acceptedAnswer": { "@type": "Answer", "text": "Blockchain technology has several uses in a variety of sectors. Blockchain is already being utilized to help with identity management, smart contracts, supply chain analysis, and many other things. The full potential of Blockchain technology is unlikely to be realized. Till then, it is safe to assume that Blockchain is the future of the Fintech industry." } }] }

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5 FinTech Companies Disrupting Banking And Finance

Article | February 19, 2020

You may think of ATM workings as a revolutionary experience but since the advent of Fintech, the entire financial services domain has entered a new era. Whether you purchase a cup of coffee or manage your finances, fintech is everywhere. From payments via apps such as Payoneer or Paypal to getting reports, or even using cryptocurrency, fintech is everywhere. This decade — 2020 — is bringing along loads of useful technological developments and therefore, you need to implement these updates to stay ahead in the industry and offer better services.

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Spotlight

NMN Advisors, Inc.

Founded in 2001, NMN Advisors is a strategic investor relations firm based in the Bay Area with broad experience working with public and private companies. Our firm is comprised of senior-level professionals with in-depth expertise in all facets of financial communications, including pre-IPO programs, transaction communications and crisis communications management. NMN Advisors offers expert counsel to our clients, ensuring credible and consistent communications to Wall Street. By combining senior consultants with deep and broad experience, a high-level of service and strong Wall Street relationships, we create an unmatched value for our clients and their shareholders. Investor Relations, strategic messaging and positioning, global institutional shareholder targeting, M&A strategy, pre-IPO support, crisis communications, corporate governance, board communication issues, disclosure and counsel, temporary IR staffing

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