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Tech Talk: Self-service kiosks, contactless ID, machine learning, and more!

Account opening: Contactless ID verification
An argument against cloud-based applications
Adding mobile banking to a lending platform
Walmart prepares its own fintech start-up
Self-service kiosks and in-house staff
Fintech in the midst of global pandemic
5 reforms needed for a truly cashless society
Banks embrace automation ahead of PPP relaunch
Machine learning during a pandemic
Spam, Scams & Breaches
Updates, Patches & Alerts
and on the lighter side...

Account opening: Contactless ID verification
Emirates NBD became the first bank in the region to allow new customers to have their identity documents verified using contactless NFC technology when opening a bank account via its Mobile Banking App. The bank uses NFC technology to read information from embedded chips in the documents and seamlessly extract data to autofill a digital account application. Finextra has the details.

An argument against cloud-based applications
While there is some personal data that we cannot stem the flow of onto cloud servers around the world, we can at least limit the use of frivolous apps that collect too much data. According to Symantec, 89% of our Android apps and 39% of our iOS apps require access to private information. Should we be rethinking our strategy? TechCrunch has the details.

Adding mobile banking to a lending platform
Upgrade launched its first mobile banking platform Thursday. The fee-free checking account comes with a debit card that allows customers to earn 2% cash back on common expenses such as gas, groceries and recurring payments, and 1% cash back on all other debit charges. Qualifying customers that open bank accounts with Upgrade can also get up to 20% lower rates on the company's loans. Banking Dive has the details.

Walmart prepares its own fintech start-up
Walmart wants to complement its card offerings and is planning the launch of its own fintech start-up with the help of Ribbit Capital. The new venture will "develop and offer modern, innovative and affordable financial solutions" to customers and employees," claims Walmart. Banking Dive has the details.

Self-service kiosks and in-house staff
Consumers are more comfortable with self-service than ever, but when they're making a transaction, they need to know two things: 1) The transaction is reliable and 2) A helpful, competent employee is available if they need help. ATM Marketplace has the details.

Fintech in the midst of global pandemic
As the world is anxiously anticipating the arrival of long-awaited vaccines and people are hoping that 2021 will bring things back to normal, we are asking ourselves what the future of the global fintech industry might look like in the next twelve months. Finextra has the details.

5 reforms needed for a truly cashless society
Cashless life has been widely adopted in Asian countries for quite some time, but it wasn’t universally adopted across the United States until the coronavirus pandemic. For a truly cashless society, consider these five key reforms. TechCrunch has the details.

Banks embrace automation ahead of PPP relaunch
Banks are turning to automation and white-label options ahead of the Monday relaunch of the Small Business Administration’s Paycheck Protection Program (PPP) in an attempt to avoid the delays and hassles that plagued previous versions of the loan platform. Banking Dive has the details.

Machine learning during a pandemic
Scotiabank says that its investment in machine learning is paying off during the Covid-19 pandemic, enabling it to help clients navigate uncertain and challenging times. Sofia uses historical commercial banking data, such as deposits, and trends from the past year combined with machine learning to forecast what clients could expect in the next four weeks. Finextra has the details.

Spams, Scams, and Breaches

Updates, Patches, and Alerts...

See what other current hot cyber and technology topics affecting financial institutions BOL users are discussing in the Technology Forum.

And on the lighter side...

What would the world be like without cybersecurity? It is on the basis of this interrogation that this film produced by Thales demonstrates some of the impacts of cybersecurity on a daily basis. A Long Day (with no cybersecurity)

First published on 01/15/2021

Briefing type:

Tech Talk

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