Prakash Devulapalli

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Cryptocurrency Universe Expands Far Beyond Bitcoin

A sort of “cryptobrawl” broke out last month at the Milken Institute Global Conference between economist Nouriel Roubini and panel participants more optimistic about the future of cryptocurrency technologies. I had the opportunity to participate in a partial rematch at Battle of the Quants, where …

This Singapore Startup Is Betting On Blockchain For The Future Of Data Security

Last year, Accenture reported that large organizations spend an average of $11.7 million on cybersecurity and that data breaches increased by 27.4% in 2017. Between 2015 and 2017, the costs of information loss alone rose from 35% to 43% of expenses. Although companies are increasingly aware of …

Blockchain

Real-time payments land in the US

<i>This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.</i><p>With support from the Mastercard-owned Vocalink, The Clearing House (TCH) launched the first implementation of the "ground-breaking" Real-Time Payments (RTP) system in the US, …

FinTech

How Blockchain Will Accelerate Business Performance and Power the Smart Economy

Political economist Francis Fukuyama predicted a future when social capital would be as important as physical capital, and that only those societies with a high degree of social trust would be able to create large-scale organizations capable of competing in the new economy.Two decades later, an …

Blockchain

Spain’s biggest companies are charging into crypto

The global adoption of blockchain technology is starting to feel like an inevitability.<p>Following on the news that Moscow is launching a cryptocurrency (creatively called the CryptoRuble… because of course it is), a consortium composed of the top technology officers at some of Spain’s largest …

That IBM blockchain? Northern Trust says it works

After six months managing private equity deals with IBM’s blockchain platform, Northern Trust has an encouraging report about the technology’s …

Railsbank, a new fintech startup from founder of Currencycloud, raises $1.2M led by Firestartr

Railsbank, a relatively new fintech startup co-founded by CEO Nigel Verdon, who previously founded money exchange and payments platform Currencycloud, has raised $1.2 million in a funding round led by seed investment firm Firestartr.<p>The company, yet to see its full launch and over a year in the …

Revolut launches personal Euro accounts with your own IBAN

Fintech startup Revolut just raised $66 million and is already launching new features. Starting today, you can generate your own IBAN for Euro transactions. This way, you can receive your salary directly on your Revolut account for instance.<p>While you could already top up your Revolut account with a …

The Financial Industry Needs to Start Planning for the Next 50 Years, Not the Next Five

Despite rapid innovations in data processing and machine learning, many businesses have yet to make the leap from the Industrial Age to the information age, and the gap between technological and organizational progress is widening. Closing this gap requires much more than short-term fixes, like …

China's AliPay, UnionPay & WeChat Pay Join LATAM Fintech's Digital-Payments Platform Revolution

The fintech dLocal that specializes in cross-border payments for emerging markets, has integrated AliPay, UnionPay and WeChat Pay – China’s three major digital payments providers – into its platform. The addition for Uruguay-based dLocal with a US presence is touted as enabling global merchants to …

FinTech

Venmo reportedly made physical debit cards for a trial run

Venmo is reportedly taking a leaf out of other digital payment services' book and making a physical debit card. According to <i>Recode</i>, the PayPal-owned mobile app created to make going Dutch with friends a lot easier has already begun testing a card that would allow users to spend the money in their …

Six Tips For Nailing Your Chatbot Content Strategy As A Competitive Advantage For The Future

Chatbots have received somewhat of a mixed response since they hit the market at scale – both praised for the ease with which they can offer customer service for instance, yet critiqued for their lack of true intelligence.<p>This is something we’re working towards, according to Ben Parr, co-founder of …

This is how financial services chatbots are going to evolve

The first generation of chatbots in financial services has yet to win over the majority of consumers. But as the technology improves, banks and …

Artificial Intelligence

Barclays opens 'biggest fintech center in Europe' as it aims to experiment and spot early trends — CNBC

U.K. lender Barclays has opened a new innovation center in Shoreditch, London for its in-house banking and technology teams, as well as more than 40 …

AI Fintech Startups Offer Loans on New Credit — Nanalyze

Last month we told you about a fintech startup called DemystData that uses reams of information from various sources—big data—to generate a different …

So what exactly is a bot?

Kemal El Moujahid Contributor<p>Kemal El Moujahid is currently a lead product manager for the Messenger team at Facebook, working on AI-powered services such as M and driving the product management of the Messenger platform. Kemal was previously VP of Products at Fuze, a video conferencing and …

How Machine Learning Makes Banking More Personal

Guest blogger James Baston-Pitt from OnFido on the personalization potential of machine learning and artificial intelligence in banking.

How Digital Money Management Keeps Banks Relevant

Money

The Bank as Life Coach: The Quest for 'Everyday Banking'

It sounds prosaic, but "everyday banking" could be a way for retail banks to stay relevant in the digital future.<p>The idea is that rather than …

Financial Services

Blockchain Will Help Us Prove Our Identities in a Digital World

“Who are you?” may well be the world’s most frequently asked question. On a website, in a nightclub, at an airport, or in front of a bank counter, everyone wants us to prove that we are who we say we are.<p>But 2.4 billion poor people worldwide, about 1.5 billion of whom are over the age of 14, can’t …

Here's everything we learned about the future of fintech at Mobile World Congress

Last week, BI Intelligence, Business Insider's premium research service, attended Mobile World Congress, the mobile industry's largest global gathering. Here are some of the key fintech trends we spotted at the event.<p><b>The partnership trend is gathering pace.</b> Now that the majority of incumbents view …

Financial Services

Wells Fargo robo-adviser to target young, first-time investors

NEW YORK (Reuters) - Wells Fargo & Co's wealth management business (WFC.N) said on Tuesday it would launch its new robo-adviser Intuitive Investor later this year in a bid to develop a new revenue stream from existing Millennial customers who may be looking to open their first investment account in …

R3 Appears to Admit Defeat, Stops Blockchain Development | NullTX

<b>R3CEV, the largest blockchain consortium of banks and technology firms includng multi-billion dollar institutions such as Barclays, Credit Suisse,</b> …

Sberbank launches machine learning-based assistant

09 February 2017 | 11002 views | 0<p>Russia's Sberbank has introduced an online personal assistant that uses machine learning to provide customers with …

'Next 5 Years Will See Dramatic Change In Retail Banking'

This is a phase of disruption for India's banking sector and it is both interesting and challenging, according to Rajiv Yadav, chief operating …

Retail Banking

Monzo, a UK digital-only bank, is closing in on new funding led by US-based Thrive Capital

<i>Updated article to clarify the pending round is a Series C</i><p><i>Updated again with info that British pop star Tom Odell may also be investing</i><p>Monzo, one of a number of new digital-only, or so-called “challenger,” banks in the U.K. aiming to re-invent the current account, is closing in on new Series C …

Banking