Name: Challenger Banks - where's the challenge?
Start: 2016-12-08T15:00:00Z
End: 2016-12-08T15:58:51.000Z
Location: BrightTALK
Rating: 3.5

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The Nexum AI Platform Adoption Framework: A guiding framework for leaders who want to leverage the power of AI to transform their business. And a tool to assess where you are in your journey and define where you want to be.

Nexum AI as a Service was developed as an engineer’s guide to building AI-enabled platforms and services. The aim of the  our platform is to get you up and running, and able to produce results quickly, without getting stuck in the weeds. AI and  machine learning are big topics, and there is an awful lot to learn if you wish to master these disciplines. We examine these  from a developer’s perspective to provide a practical, hands-on guide. All of the major cloud vendors are engaged in a race to provide relevant AI services, such as  
○ Image recognition  
○ Speech-to-text, text-to-speech  
○ Chatbots Language translation  
○ Natural language processing  
○ Recommendations  

We review the current state of the art, and we categorize the available services on Google into a standard architectural  structure. Following we dive right in and build a serverless image recognition system as our first AI as a Service platform.

NEXUM Cloud’s AI Platform Adoption Framework AI as a Service

Embedded finance is the seamless distribution and integration of financial products into existing services offered by non-financial brands during the most relevant part of the user journey. Over the last 36-months, Buy Now Pay Later (BNPL) has experienced incredible growth and showing little signs of slowing down – it’s valued at over $4billion and growing.

The embedded finance market presents a £7trillion opportunity by 2030, but it will take more than BNPL to reach this milestone. In this webinar, Barry McCarthy, Founder of Assure Hedge, looks at what’s next for embedded finance.

·     Where are the opportunities?

·     How does data influence product creation?

·     How embedded finance keeps business afloat?

·     How embedded finance gives businesses access to global talent

Embedded Finance: Beyond Buy Now and Pay Later

During H1 2021 alone, financial institutions have already been fined over $2 billion.
This has been partly due to failures in risk identification and by not having effective AML and KYC  in place to monitor accounts.
However, customer onboarding is getting tricky as regulations vary across industry and by region; 
Join us to learn about best practices for customer onboarding, and continuous trust.
 
Takeaways

-Learn about the challenges posed by regulation
-Get industry best practice hints and ideas
-Reduce onboarding fraud whilst minimizing friction

Seamless Customer Onboarding: Fact verses Friction

Discover new revenue streams and cost savings for banks as custodians of users' identities and data (without the current liability model). Find out how SSI revolutionises customer experience while reducing costs and improving data.

Self-Sovereign Identity: New Recurring Revenue for Existing Data

Learn about how protecting your data can actually expand your business.

Data-centric zero trust opens up new workflows for KYC and source of wealth validation, broker to customer direct transactions, transaction insights, customer support, and on-prem to hybrid cloud data transfer.

Protect against ransomware extortion while staying compliant with data residency, a chain of custody, and right to forget. Gain an understanding of how a data-centric cyber solution will keep your data safe when your network is hacked and allow you to reduce costs while expanding opportunities.

Frictionless and Secure KYC with Data-Centric Zero Trust

Video: NEXUM Cloud’s AI Platform Adoption Framework AI as a Service

In a rapidly growing FinTech market in the UK companies need innovative approaches to distinguish themselves from competition and to constantly create value for their customers. Collecting and utilising proprietary customer data becomes a key enabler for success. This presentation will focus on how to leverage transaction and customer behaviour data for effective CRM strategies to boost customer loyalty and retention.

Harnessing Data for Effective Customer Relationship Management in a Fintech

Online data is a vast and ever-expanding resource in the battle against financial crime. 

However, the volume of information can be overwhelming, and it can be a struggle to identify what’s relevant. 

In addition, the information explosion has led to more public scrutiny than ever, and reputations that took years to build can be destroyed in one headline.  

How can you ensure you get a full and fair picture?

In this expert discussion you will learn:

1. The latest risks and challenges relating to the use of open source material to fight financial crime
2. Regulatory expectations on using open source data for due diligence and monitoring
3. How technological innovations can harness public information
4. Emerging best practices for reputational risk protection in the digital age


Chair: Laetitia Hoffmann, Global Product Manager - Due Diligence at Dow Jones
Shaun O’Mahony, Co-Founder of Xapien
Daniel Secretan, Co-Founder of Xapien
Tom Lawman, Senior Consultant at FINTRAIL

Mobilising online data to fight financial crime

• Tokenization of everything – Assets, Money, Cryptocurrencies
• Digital Identities & payments – phase one : Centralized identity, phase two: Federated Identity, Phase three: User-centric Identity, Phase Four : Self-sovereign Identity, from personal data controlled/owned and centrally stored by business to owned/controlled and de-centrally stored by User
• Increasing A2A Payments and open banking support – open finanance API network, Account Entry Push Notifications, Reservation of funds, Deferred and recurring payments, Request to Pay, Initiation of a consumer loan = BNPL, SEPA Direct DebitImproving conversion and UX
• Value Added Services around payments e.g. - BNPL will further grow, Credit card-based BNPL as fight back for banks, Digital Receipts will get more momentum, Next Generation Loyalty Offers - the age of data blindness & simple transaction-rewarding is over
• Improving the PSD2 SCA with better use of newer 3DS protocols (EMVCo 3DS 2.3) - eCOM Tokenization, Click To Pay, Delegated Authentication, split SDK and device binding
• Increasing Interest in Crypto Assets - Crypto trading apps as part of their digital offering
• Green & Sustainable Payments – Carbon free - For the Financial Services Industry, Green Payment is going from niche to mainstream through the following development drivers: technology, consumers, data and coming soon

Digital ID, Open Banking, BNPL, Tokenization, PSD2 SCA, Crypto Assets, Payments

Coinfirm AML Oracle was the first smart contract-based solution for AML compliance of the burgeoning decentralized finance (DeFi) scene. The Oracle unlocks a key barrier that DeFi presented to previously developed blockchain compliance technology on the market.

Because DeFi protocols run on-chain smart contracts – meaning that any compliance layer needs the same format of technology required to interact with a DeFi provider such as a decentralised exchange (DEX) through client smart contracts – a specifically tailored solution is necessary.

Currently operated with Ethereum and RSK protocol, the Coinfirm AML Oracle is that solution – enabling decentralized entities to continue their lending, staking and general DeFi activities without fear of falling afoul of nefarious actors in their system – with an added emphasis on security and cost-effective gas usage.

The Financial Action Task Force's updated draft guidance from 09.03.2021 massively expands the types of entities falling under the FATF’s purview. The updated guidance requests member states to ensure DeFi platforms are covered by AML laws, even if there is no single party responsible for live networks. The Coinfirm AML Oracle offers both a partial and fully decentralized solution to proactively manage compliance risks and comply with regulations.

When users interact with a decentralized finance provider, their wallet address is queried for risk through the Coinfirm AML Oracle, which in turn passes data from Coinfirm’s API to generate a report ID C-Score based on 330+ risk evaluation scenarios that relays the information to the DEX.

The Future of Regulatory Compliance in Defi Space

In today’s complex environment organizations are embarking on Digital Transformation journey.  Compared to existing systems, blockchains are faster, cheaper, more reliable, and much more secure.  For example, in healthcare, patients often have medical history scattered among various medical records maintained in several health-care establishments.  The data is available only in the scope of those specific systems.  Having a Blockchain Medical Profile to store an individual’s medical profile that is accessible from anywhere at the time of need.  This omnipresence of the medical data will be a boon for the field of medical informatics.  

Similarly, in financial institutions, transactions that happens within and among financial institutions can be delivered, provided immediately, shared, and completely transparent stored on an immutable ledger via Blockchain technology.  

The faster the information is received and the more accurate it is, the better.  Blockchain is ideal for delivering that information because it provides immediate, shared and completely transparent information stored on an immutable ledger that can be accessed only by permissioned network members.  Blockchain technology and its infrastructure (hardware, software, and facilities, connectivity, mobility, performance, and security and such can be easily deployed and managed using ITIL best practices.

Speakers: 
Waseem Ahmed, VP IT Production Operations, Citibank NA
Atif Farid Mohammad PhD, Adjunct Professor, Artificial Intelligence, Machine Learning, Blockchain, UNC Charlotte

Blockchain Adoption, Management, and Application

We need to know who writes the Open Source code that is used to build critical applications. Today, engineers use pre-built components of software to accelerate software development. Every day, 20 million developers share and re-use open source software code. Open Source npm packages for Javascript code are used in all websites and most mobile apps. Open Source PyPI packages for Python code are used in almost all AI and Data Analysis system. Every day, continuous integration systems pull in the latest updates to this code. In mid March 2022, malicious code was added to a popular open-source package that is installed 3,292,333 times a week. The malicious code wiped files on computers located in Russia and Belarus. That's one for the good-guys. But the same line of attack can and will be directed at the West. We have to stop this. We need to know who writes the Open Source code. The Software Build of Materials(SBOM) needs to become a Verified Identity Software Build of Materials (VISBOM).

Did Your Adversary Write Your Open Source Code?

The aftermath of economic collapse a decade ago and the current pandemic of COVID-19 have brought in increasing corporate laws, business regulations, stringent guidelines and intransigent restrictions in the financial services sector in the U.S. and worldwide to maintain control over organizational governance, structure and standard practices. These calls for higher degree of corporate governance, operational transparency, higher performance, enhanced security, data privacy and increased capital requirements to thwart any major systemic risk and crisis of the future. This led to the renewed focus on the so-called ‘Governance, Risk Management and Compliance’ practice, also known as GRC. 

Therefore, organizations are under intense pressure one more time to transform their weak and fragmented GRC approach and controls to address a wide array of diverse and complex risks, build strong security, particularly cybersecurity posture, respond to the proliferation of regulatory obligations and demonstrate compliance excellence.

Therefore, in this webinar, we closely examine and discuss the transformation of GRC in the financial services sector. You’ll learn:

Drivers of GRC transformation
Next-gen GRC framework
Transformed GRC with 3 Lines of Defense
How to reach the ideal GRC state? GRC maturity model
Technology as enabler of GRC transformation

GRC Transformation in Financial Services in a Post-Crisis Digital Age

While financial institutions started to automate and digitize more than a decade ago, end customer preferences for digitization of services and communication changed faster than offers.  This created an opportunity that FinTechs embraced and pressure for traditional banks to remain relevant.

The automation of mission critical business transactions is critical for the digital transformation of financial institutions and mandatory for meeting requirements for security and compliance.

Tune in to hear:

How Intelligent Information Capture evolved in parallel with the automation of payment processes
How market requirements for Financial Institutions will change in 2022
Which Information Capture solutions are critical to meet the changing needs  
What Financial Institutions need to prioritize on their Digital Transformation journey

Intelligent Information Capture between Fintechs & Traditional Banks

With an unprecedented growth in the past few years of companies and applications around the fintech, crypto, insurtech, regtech, proptech spaces, users are now more exposed than ever to having their assets, identities and digital personas to become targets of a new breed of sophisticated global criminals. While the fast pace of innovation around all these digital platforms rejects or openly avoids any notion of centralized regulation, the urge to take new services and solutions to the digital users may be posing a threat to the overall sustainability and credibility of alternate ways of conducting online purchases and financial transactions.

Instead of subjecting innovative companies to a closed set of regulations, companies may opt for a set of industry best practices which will allow a self-regulated approach to what is safe for consumers and for an ever-growing digital environment.

This presentation will cover the following points to understand how digital services companies can collaborate on cybersecurity best-practices:

The incredible growth in fintech and digital services in the world
The competing approaches to a safe identity management in the market
The state of cyber-crime in 2021
Six basic cybersecurity domains for digital platforms
A roadmap for adoption and implementation

Back to Basics: Fintech Cybersecurity 101

New technologies, new ways of handling funds and new ways how consumers are interacting with money. Financial institutions are at a crossroads of what direction to take.

Crypto currencies, mobile devices, cloud and an increasingly difficult to manage supply chain is forcing a lot of complexity onto the foundations that FinTech has based its successes on. The solid foundation of what is now considered legacy IT has proven its worth but at the same time the status quo is becoming harder to support, manage and secure against today's ever growing threats. Cyber criminals find new and inventive ways of compromising systems, hijacking data and extorting its owners. So where does that leave us in trying to secure the financial world?

This talk will go over a number of topics and challenges that FinTech is dealing with from the perspective of an ethical hacker's view and experience of breaking into FinTech companies for the last decade. What works and what doesn't and what the future might bring.

From legacy to zero trust: the crossroads of today's FinTech

Steering FinTech towards Sustainable Development & Green Economies

Digital Transformation in Financial Services

Emerging Trends in FinTech: What's next for 2017?

Predictive APIs: What about Banking?

Open Banking: A Perfect Storm

InsurTech: Opportunities and Disruption Potential

Next Generation Banking: Changes in the industry & where are we going

Open Banking - The New Face of Fintech

Emerging Trends and Technologies in Fintech

There is a proliferation of challenger banks in the UK - with 40 in the market, and more coming. They run the full gamut from digital first to branch first; from single product to full service; and from brand new to distinctly vintage. 

Join this panel where leading experts will:
Explain the challenger bank landscape
Discuss the drivers behind the 'Challenger' (r)evolution
Argue about what's challenging and what's just PR
Predict where genuine market changing challenge will come from

Challenger Banks - where's the challenge?

challenger banks

fintech

banking

finance

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Challenger Banks - where's the challenge?

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