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Dubai’s startup and tech scene has come a long way in the past three decades — the city is now a major business center in the Middle East, attracting investors and entrepreneurs from around the world. In this week’s Tech Center tracker, we take a look at how Dubai is giving FinTech hubs around the world a run for their money. Before we jump into the post, here are a few quick facts about Dubai and its tech scene: Dubai has an estimated population of 2,701,977.
Tim Cook, CEO of KSM Location Advisors, joined Lara Beck of Beck Communications Group and Aaron Reitz, market president of KeyBank, on Gerry Dick’s recent Inside INdiana Business INsiders panel.
The U.S. is no longer the world’s largest market for FinTech investment, according to the latest report from Citigroup, released this week. Analysts found that, in the first nine months of 2016, China held the top spot for FinTech investment, with funding raised for that period doubling compared to the same period in 2015. This week, however, venture capitalists in the B2B FinTech space went global, hitting Australia, the U.S., France and India.
Enterprise tech conglomerate Oracle is growing thanks to the acquisition of an API management firm, Apiary. Reports last week said the takeover will help Oracle offer more robust API building and monitoring services through integrating Apiary’s APIFlow solution, which helps businesses create and manage their APIs. “Oracle’s API Integration Cloud enables companies to secure, consume, monetize and analyze APIs,” said Oracle Senior Vice President of Integration Cloud Amit Za
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
There are times when cyberthreats can come in places where you least expect them. That could mean a selfie app, an email inbox or even within health care and medical services. Eric Chiu, cofounder and president of HyTrust , joined this week’s Hacker Tracker to share insights on the SEC examining the Yahoo breaches, why a selfie app may cause more harm than good and how the U.S. is handling its ever-growing number of reported cyberattacks.
eBay has spent much of the last year rethinking its market position and reworking its platform to help it compete more consistently and strongly against Amazon.com (and the rest of retail). And, as of Q4 2017, it looks like those efforts are paying off — literally. The holiday period saw a 3.1 percent rise in quarterly revenue for eBay — some good news that pushed up the price of shares in the online marketplace by 7.5 percent in after hours trading.
Industries around the world have caught AI fever. Developers around the world have made more ways than ever for the technology to automate, optimize and enable different services. Facebook, Alphabet, IBM, Microsoft, Amazon and other major companies are all working on AI projects, along with numerous tech startups. One such upstart, which leverages artificial intelligence and image recognition in part to enable commerce, is Clarifai.
Industries around the world have caught AI fever. Developers around the world have made more ways than ever for the technology to automate, optimize and enable different services. Facebook, Alphabet, IBM, Microsoft, Amazon and other major companies are all working on AI projects, along with numerous tech startups. One such upstart, which leverages artificial intelligence and image recognition in part to enable commerce, is Clarifai.
Apple has surely managed to deliver a lot of hype with the launch of its mobile payments platform, but according to the numbers so far, it hasn’t really managed to deliver a hit. Which isn’t to say it’s been a wholesale miss, which, in the world of mobile payments, is actually something of a success in and of itself — just ask the former teams from CurrentC or Softcard (we miss you Tappy , you were our favorite muppet).
“The real ‘move the needle’ opportunity in banking is to build a bank from scratch.”. That’s according to financial services vet and Varo Money CEO and Cofounder Colin Walsh, who told Karen Webster recently that the future of banking, for millennials in particular, lies not in branches but in bots who become money coaches. Millennials, Walsh went on to say, get very, very little, if any, advice at all from their bank about what to do with their money.
In your wallet is a driver’s license and possibly a Social Security card. Maybe a credit card or two. Perhaps you keep a passport in a side pocket. All told, bits of paper and plastic that help definitively state that you are who you say you are. Those tangible items can also be gateways to fraud. In an age where bits and bytes are continually encroaching on the things we carry, the question becomes: How are our digital identities shaped, and just who (or what) should hold the key to managing th
Cross-border payments, trade finance, smart contracts — blockchain has the potential to disrupt B2B processes, but FinTech players are only beginning to take these concepts onto a real-world stage. For one firm, Finlync , the key to unlocking the potential of blockchain in B2B processes is unlocking the underlying data of that activity. The company announced earlier this month that it has developed what it claims to be the world’s first technology to integrate blockchain into ERP systems like SA
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
Cash usage in the Americas is at an inflection point. With strong economic growth, the overall cash usage is expected to hit $3.5 trillion by 2020 — up from $3.06 trillion in 2015. And while that’s a sign of positive growth, proliferation of new payment products is chipping away at the growth, according to the brand new Global Cash Index™ Americas Analysis.
In the past few years, payments-powered platforms have become a critical part of the American economy. . Crowdfunding platforms like Kickstarter and GoFundMe raised $34 billion in 2015 , according to industry research, and as much as $60 million may have been raised last year, according to projections. But it isn’t just entrepreneurs, startups and charities benefitting from the rise of payments-powered platforms.
One of blockchain technology’s earliest corporate supporters just recently completed testing for its blockchain-based proxy voting system. This week, American stock exchange Nasdaq announced that it has completed testing of its blockchain-based technology to facilitate, optimize and lower the cost of online proxy voting on its Estonian exchange. “Annual General Meetings (AGM) tend to be necessary high-cost events with, on average, fairly low shareholder participation,” the Nasdaq wrote its repor
The Electronic Payments Association (NACHA), steward and rule maker of the ACH Network, recently provided the Same Day ACH transaction volume data for September 23 to December 30, 2016. Same Day ACH was responsible for more than 13 million credit transactions in the period — a total combined value of nearly $17 billion, with the average transaction worth $1,283.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
B2B payments have a reputation for being slow to innovate , though the last couple years has challenged that notoriety. Faster payments initiatives, blockchain and other disruptions all show promise to make major changes in the B2B payments space. Still, according to the latest Mercator Advisory Group report on FinTech disruption, B2B payments will have to wait a bit longer to see true change from these innovations.
IBM Security announced Monday (Jan. 23) it is acquiring Agile 3 Solutions, a developer of software used by the C-suite and senior executives to better visualize, understand and manage risks associated with the protection of sensitive data. In a press release , IBM said the addition of Agile 3 Solutions’ capabilities to IBM Security’s portfolio adds a tool to improve C-suite decision-making as businesses prepare to defend themselves against cybercrime.
Blockchain has come a long way over that last few years. Since bursting onto the scene as the rails guiding the fast-growing and mysterious cryptocurrency known as bitcoin, blockchain has become an accepted and important part of the financial infrastructure. Projections show that, while the blockchain technology market is already worth more than $210 million as of 2016, it could see exponential growth, becoming worth over $1 billion by the end of the decade, as more uses for the technology are d
As more Americans reach for their mobile devices when making purchases, providers are looking for new ways to secure smartphones. According to industry research, mobile commerce now accounts for nearly a third of the U.S. economy, with sales via mobile devices contributing more than $104 billion to the economy. But all those digital dollars are attracting the attention of fraudsters, who are increasingly setting their sights on mobile targets.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
As IoT connectivity expands, the distance between the inside of a home and a vehicle parked inside the garage is getting much shorter. Vehicles are not the only consumer products that are getting IoT connectivity upgrades. Companies are finding new ways to introduce connectivity to various household items, from large devices like kitchen appliances to smaller goods such as hair brushes.
On Wednesday (Jan. 25), Zoho, which offers cloud-based business operating systems, unveiled Zoho Checkout, a payments system geared toward businesses that want to set up the ability to be paid online, rather than via cash, and do so without the use of a website or processing equipment. Zoho Checkout is being offered through the Zoho Finance Suite, the company said.
As the world entered 2017, we reached a major technological milestone: The first decade for mobile apps had passed. Numbers from Flurry Analytics indicate that, across 940,000 applications, 2.1 billion devices and 3.2 trillion mobile sessions, the year 2016 saw an average of 11 percent year-over-year (YoY) growth in mobile app usage and 69 percent year-over-year growth in terms of average time spent on apps.
The French E-Commerce Federation announced Thursday (Jan. 26) that online sales for retailers in France may rise as much as 11 percent in 2017 to $85.85 billion. In a report , the French E-Commerce Federation said that compares to a 14.6 percent jump in 2016. During 2016, French shoppers spent €72 billion making purchases online. The performance for 2016 included the holiday shopping season, which contributed €14 billion.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
The loyal customer is increasingly the holy grail of retail — everyone wants to create them, but in an environment littered with discounts, digital offers and competing influence, holding a customer’s attention is not exactly easy work. Communication is key, but getting the signal through all the digital noise is often easier said than done. Which is where Bridg enters the picture.
Neopost is launching a new suite of services aimed at helping SMEs ease friction in their communication needs. The company rolled out Neopost Business Solutions on Tuesday (Jan. 24), aimed at helping SMEs streamline communication, via mail and documents, and business relationships with suppliers and customers. The services target what Neopost described in its announcement as “disconnected, manual processes” to communicate with their clients and business partners.
France-based Spendesk, which offers corporate card and employee spend management solutions, has raised $2.2 million, according to reports Tuesday (Jan. 24). Reports by TechCrunch said Spendesk secured the funding from Kima Ventures, Funders Club and angel investors Edward Lando, Nicolas Steegmann and Frédéric Montagnon. In perhaps an even greater show of support, Spendesk also secured backing from some of its existing corporate users, which include Birchbox and AB Tasty.
The largest supermarket chain in the U.S., Kroger Co., is looking to keep up with the ever-quickening technology arms race that has infected the world of grocery over the last few years. Currently sensors and analytics technology to let shelves and products interact with shoppers are being tested in various locations nationwide. The systems are designed to reach out and ping customers on their mobile devices — and clearly built to focus on personalizing and optimizing the grocery experience for
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Earlier this month, the latest tech advancements — from phones to appliances to vehicles — took center stage at the 2017 Consumer Electronics Show (CES) in Las Vegas. For several automakers, the show offered an opportunity to showcase their latest vehicle designs that now include a helpful passenger connected to the vehicle’s operating system. Among the stars of the show was Amazon ’s virtual assistant, Alexa, which is making the jump from Amazon’s cylindrical Echo speaker into the operating sys
Investment activity picked up the pace into the third week of the month, expanding off of already accelerating levels. The $634 million logged in the latest week shows that the initial low volume of deals marking the start of 2017 may, in fact, yield to investors putting capital to work. The B2B space held sway, with $550 million in activity. Topping the list was a deal in China, where a series of private investors put $500 million into Youxin Houlian.
Like so many other industries, banking sure isn’t what it used to be. Modern technology has revamped everything from retail to shipping, and financial services has been transformed from a brick-and-mortar business, with most transactions being conducted in person at bank branches and other physical locations, to a digital endeavor. These days, digital transactions rule, as consumers have become more comfortable making purchases and sending money across digital channels, thanks in large part to t
While India’s economy is still largely dominated by cash, the tide is beginning to turn toward modern payments. Recent PYMNTS research found that card use grew 20 percent in the country over the past three years, and new payment methods, like digital and mobile transactions, are quickly gaining steam, with several new payment interfaces being rolled out over the past month.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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