Understanding the advantages and challenges of digital contracts
With the event of eIDAS which repeals the old EU e-Signature Regulation from July 2016, a new type of electronic signature is introduced – the “Electronic Seal”. These are signatures applied by a Legal Person rather than a Natural Person.
This presentation will take a look at the differences between eSeals and eSignatures, and introduce some benefits your organization can achieve by using these.
RecordedDec 5 201636 mins
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Arushi Chawla, Research Associate, Blockchain & Digital Payment, Counterpoint Research
In today’s financial ecosystem, the focus is on finance and not the physical infrastructure that comes along. This brings us to fintech, which helps economies work on their financial industry without working about historical records. The ecosystem is focusing on banking and not banks. But it is important to understand the reason and logic behind adopting and absorbing cryptocurrency as the new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.
Money is more than just a medium of exchange for people. They have an emotional connection with money. This makes them more risk-averse about it and hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.
- Blockchain, which serves as a building block for a decentralized economy, is the next and newest form of currency via cryptocurrency. With Change in the form of money, it is now important to understand the change in the payment system.
- Among different types to cryptocurrency, when blockchain is used for the operability of cryptocurrency, it is crucial to understand how it will be a perfect piece of the puzzle for it to be used in tomorrow's decentralized economy. Therefore, it is important to understand the evolving technology and how crucial it is to adopt it in a more scalable way.
- Understand the reason and logic behind adopting and absorbing cryptocurrency as a new form of money. Else, in this race for getting hands on the newest technology, the whole purpose of it might get lost.
- Money is more than just a medium of exchange for people. Hence this translates into a high degree of inertia for the newest technology to be adopted at the pace we expect it to.
Benjamin Tin, Business Development Consultant, Vl Asset Management
China is leading the way among large economies in trialing Central Bank Digital Currency (CBDC). Its official name is Digital Currency Electronic Payment (DCEP). The digital Yuan, unlike Bitcoin and other private currencies, will be legal tender.
DCEP is intended to bring about another era of a digitized economy in the face of advancing blockchain or distributed ledger technology (DLT). China has not welcomed cryptocurrencies but subscribed to Blockchain technology. When plans were put in place to begin development of the digital yuan, the country planned to overhaul the digital payment ecosystem in the country. This was to strengthen the Yuan both locally and internationally.
1. PBOC and Digital Yuan
2. China Digital Penetration
3. RMB Internationalization
4. Impact on the Global Market
Karnika E. Yashwant (Mr. KEY), Founder & CEO, KEY Difference Media
Blockchain Tech has numerous applications in the fintech space, but comes with unavoidable challenges and difficulties like in any area of life and business. We will review the top difficulties and explore potential solutions during this webinar to help you make a decision for your own business.
Lakshan Abeyawardena, Head of Strategic Business, Hitachi Digital Payment Solutions
Central Banks in SAARC and ASEAN countries are being more and more receptive to the idea of using blockchain and cryptocurrency. There is an increased interest shown by Central Banks in the region to implement some form of blockchain related solution and we have seen multiple initiatives and pilot projects starting in 2019 and 2020.
- Why are Central Banks in Asia focusing on enabling blockchain-based services and cryptocurrencies?
- Interesting uses cases for blockchain-based applications for Central Banks
- Some of the completed and on-going Central Bank blockchain projects
- What to expect in 2021 relating to Central Banks and Blockchain?
Karl J. Weaver, Global Biz Dev Director - (BoAT - Blockchain of AI Things), aitos.io
aitos.io is a stealth embedded software security startup for the integration of IoT and Blockchain ecosystems to offer trusted identity authentication and data privacy preserving computational protection for the integrity of data originating and refined at the edge.
All trust starts with securing the data at the source of collection, from the sensor to the module to the gateway and then to the cloud. aitos.io has partnered with 9 major cellular IoT module manufacturers and two global mobile network operators to promote the concept of a "Blockchain Module" with our "BoAT" or Blockchain of AI Things SDK middleware framework for the protection of data from the collection source. aitos.io plans to make our "BoAT" SDK the defector standard for protection of data at the source and actively partnering with virtual use cases, global MNOs, Cloud service providers and many IoT device manufacturers to realize the importance of protecting data and integrating IoT with the Blockchain for the integrity of trusted data.
Karl J. Weaver 魏卡爾
Global Biz Dev Director - (BoAT - Blockchain of AI Things)
Karl J. Weaver is a bilingual-Mandarin speaking, senior wireless industry, mobile payments & device security executive in the smart card/semiconductor sectors. He joined aitos.io in February, 2020 as Global Business Development Director, based in Shanghai. Aitos.io supplies an SDK embedded into cellular IoT modules to allow Apps & services to directly run on the Blockchain with trusted identity and data privacy.
The speaker will discuss the evolving legal framework for digital assets in the Philippines, including discussions on:
E-money vs cash. The Philippine central bank has issued the regulatory framework for e-money transactions more than a decade ago. But before the covid-19 pandemic, cash is still king in most commercial and government transactions. The speaker is going to discuss how the pandemic is forcing the government and the public to embrace e-money transactions and discuss some notable initiatives that are taking place in that direction in the Philippines.
Virtual currencies, virtual assets and digital assets. Virtual currencies officially got Philippine central bank recognition in 2017. From them on, the Philippine central bank together with the Philippine securities regulator, among other agencies, have been very actively involved in creating or attempting to create legal frameworks that would govern activities and transactions involving or surrounding virtual currencies, virtual assets and digital assets. The speaker is going to discuss these legal developments and how the Philippine government attempts to spur a favorable investment climate for activities relating to virtual currencies, virtual assets and digital assets.
Blockchain: a solution in search of a problem? From the beginning, there has been a lot of hype about blockchain technology and how it is supposed to be the answer to a lot of problems; but more often than not, the hype has failed to deliver. But that might be about to change. The speaker will share some of the most notable financial use-case of blockchain in the Philippines and how these financial use cases provides more than a glimmer of hope to the future of blockchain the Philippines.
You can pay for groceries and get money out of an ATM with your face. As fintech is enabling a more customer-friendly experience on mobile devices, security hangs in the balance. It is easy to make a transaction, but what are the real steps involved? This webinar will showcase the complex technology and will help financial services companies understand the work that goes on behind the scenes to make some simple and easy processes actually happen.
Join this panel to learn about:
- Why biometrics are becoming easier to employ in identity verification
- The challenges that fintechs face in creating a seamless user experience - even if you're wearing a face mask
- the nuts and bolts behind complex technology that solves identity fraud
Reinhard Hochrieser, VP, Global Product Management, Jumio
Sujata Dasgupta, Global Practice Head – Financial Crimes Compliance, Tata Consultancy Services
Rachel McLaughlin, FinTech/RegTech Industry Consultant
Dr. Balwant A. Sonkamble, Professor in Computer Engineering, Pune Institute Of Computer Technology
FinTech are adopted world wide in Financial organizations for the growth of businesses and customer satisfaction.
The advanced machine learning techniques are reshaping the financial services due to its high computing power and ability to analyze the Big Data.
The Financial Companies are deploying Artificial Intelligence and Machine Learning technologies to streamline the processes, optimize portfolios, decrease risks and reduce the human errors.
• You'll learn:-
- The concept of Artificial Intelligence and Machine Learning
- Need of Artificial Intelligence and Machine Learning in FinTech - Machine learning Process for FinTech
- Case Study
Judith Ratcliffe, Information Manager and Data Protection Officer, UK Shared Business Services (UK SBS)
This presentation will be reviewing the following topic areas:
1) What the Data Protection Legislation and ICO Guidance says about AI.
2) A little bit of Myth Busting.
3) What I would like to see in terms of AI developments/AI as a Data Protection Compliance enabler.
4) My Top Tips for making sure your AI is Data Protection Compliant by Design and by Default.
(Please note that any views expressed in the talk/presentation/ Q and A, and any handouts/takeaways, other materials, are my own and do not necessarily represent those of my current, employer (or, any past employers). I am not a fully qualified lawyer and my talk/presentation, responses to questions, and any associated materials do not give legal advice.)
Dror Shapira, Inviou | David Fleck, Veritable Data | Adam Martin, Progeny | Ian Mitchell, PwC
Financial services data is being created at a breakneck pace. Because this data is sensitive information on customer and operations, identifying, minimizing and preventing fraud is top of mind. Indeed, regulations & compliance procedures are aimed at ensuring customer data is treated properly. Data & analytics can help ensure compliance with banking regulations. Join this panel to learn about:
- The new tools are being used to help secure financial services data
- The strategies involved in safeguarding PII
- Staying compliant with financial services regulations
How to use machine learning techniques to improve your approval rate while minimizing fraud
With increased focus on using machine learning as a key pillar in the fraud detection process, it is important for merchants to stay focused on the end-goal of increasing approvals and not leave money on the table. Vesta Data Science team will share some key insights to stay ahead on maximizing revenue and how Vesta makes their customers more and more successful. We will go in depth into the following
o Machine learning pipeline and automated model refresh and why that is key
o Ensemble model techniques – getting the best performance from your models
o Integrating with unsupervised machine learning
Dr Estelle Brack, KiraliT | Michael Robinson, Genpact | Labhesh Patel, Jumio | Clive Elleforde, Sovran
The banking & payments industry relies heavily on data. From marketing and CRM to internal processes and regulatory compliance, working with data properly can mean the difference between success in failure. But with so much data to work with, and limited time to work to deliver value, human error can result in massive fines, and a loss of customers. AI and Machine Learning are becoming increasingly valuable in keeping financial services operating smoothly and protecting their customers. Join this panel to learn about:
- How AI can help banks learn about & implement new regulations.
- How to ensure regulatory filings are correct and done on time.
- How Machine Learning can help reduce fraud and personalize marketing.
- And more!
Panel moderated by:
Dr Estelle Brack, Founder & Chairman, KiraliT
Michael Robinson, Vice President, Insurance UK & EU, Genpact
Labhesh Patel, Chief Technology Officer and Chief Scientist, Jumio
Clive Elleforde, Chief Revenue Officer, Sovran
Keeping customers at the heart of its decisions is the mantra to success for businesses who aspire to sustain and grow. Well planned and carefully selected use cases, powered by AI are helping financial services organisations serve customers in far more efficient and creative ways than ever before by bringing the best of Human and machine together.
In this talk we will explore:
1. What are some of the real world use cases from banking
2. What are some of the challenges in adopting AI in banking
3. What is the way forward for the industry
Chris Tew VP Sales - Asia Pacific & Alexander Hoffmann Presales Engineer, Artificial Solutions
Chatbots in Financial Services haven't delivered what we expected. So, what’s next?
The world’s media is littered with articles stating that Covid-19, and the sudden emptying of call centres, has driven organizations to implement AI to cope with the increased burden of customer contact. All this, whilst in tandem reducing the cost of doing so.
Additionally, business continuity has become a board room imperative. AI is now seen as a potential opportunity to create future stability and the financial services sector is not immune to this pressure.
However, by 2020 most financial services organisations had already made significant investments in AI technology with the expectation of increased customer service, dramatically lower costs and a much-reduced reliance on large and expensive call centres. But it didn’t work to plan.
In this enlightening presentation Chris Tew and Alex Hoffman will discuss why most of today’s AI technology isn’t up to the current industry requirements and what financial services organisation need to think about, now and tomorrow.
Topics covered include:
• What’s the root cause of such an AI failure to date?
• How to address the current issues presented by Covid-19
• What are the opportunities for AI future innovation?
Traditionally, risk management professionals had to choose between the full picture and interactive analytics. Banks deal with many types of risks every day including market risk, credit risk, operational risk, business risk, etc. Millions of data points are collected daily around the world and are made available for risk-related decision-making. How can businesses enable their users to fully leverage all the data assets when they make these critical decisions?
In this session, we will talk about how a global investment bank built a risk analytics platform on Kyligence Intelligent Data Cloud. Kyligence analyzes users historical data, identifies the questions that are relevant to risk analysts, prepares the most up-to-date answers, and places these answers at the fingertips of all their analysts around the world. By adopting Kyligence technology, the risk management team is able to get insight from all of its historical data instantaneously, at a fraction of the cost of a traditional data warehouse.
Li Kang serves as the head of Kyligence's operations for the Americas. Bringing with him a deep technical background in analytics from his time as an engineer and solutions architect, Li drives both the technical and business strategy for all of Kyligence's major efforts in the West.
Elena Kozhemyakina, Fintech4Funds | Rajeev Pai, HSBC | Pat Bates, Privitar | Carlos Gutierrez Arguello, DemTech
Data is more valuable than oil, and the ability of the financial services industry to gather, process, analyze, and sell data is creates opportunities and challenges. Proper data management systems that are primed for compliance can help reduce risks, propelling the industry forward.
Join this panel to:
- Hear about the newest tools & strategies available to help fintechs and financial services firms manage their data effectively
- Learn best practices in data gathering & aggregation
- Discover retroactive data cleansing tools and procedures for financial services institutions
Panel moderated by:
Elena Kozhemyakina, CEO and Founder, Fintech4Funds
Rajeev Pai, Senior Business Consultant - Design and Initiation – Data & Analytics, HSBC Global Services
Pat Bates, Principal Sales Engineer, Privitar
Carlos Gutierrez Arguello, Open Innovation and Partnerships Director, DemTech
Nida Naeem, Senior Manager (Analytics & Modelling) & Team Leader (Data Science), Deloitte (North and South Europe)
Technology is driving organisational change at a breath-taking pace and those charged with governance and management need to ensure that risk management and compliance evolves in step to provide efficient and effective control in the age of disruption.
The good news is that sophisticated data and technology tools can enhance or replace previously tedious and judgement-based activities with efficient, evidence-based, real-time and predictive compliance and risk management.
In this session Nida will focus on how analytics, machine learning and AI is and can be used by organisations to optimise areas such as governance, risk management, fraud prevention, compliance, audit and assurance.
With regulations around data processing becoming ever more stringent, and the huge risk of reputational damage from leaked data, join Privitar to better understand how managing data privacy isn’t easy, what you should consider when implementing it and then how you can make it work in your organisation.
In this webinar you will learn about:
- How organizations can balance the risk of speedy access to data with privacy
- The best strategies for implementing data privacy
- How data privacy can be adopted enterprise-wide
Nkelé Dee Esoh, Consultant, AdvanceMyCompliance Consulting
Financial Services and Banking institutions are in a race to adopt and deploy Artificial Intelligence, its subset Machine Learning, and other advanced analytics. Why? Finance is a field which uses a huge amount of data. It is not possible anymore to analyse that volume of information without powerful machines. The disruption is now, and it is only the beginning.
These technologies have become instrumental for financial institutions to dive into users’ data as much as possible so that the organisation is able to deliver a product as tailored as possible to client’s needs. At the same time the public concern is growing about the use of AI technologies and their potential to harm individuals.
Whether your organisation is already capitalising on AI initiatives and you are helping the business managing its financial data, or your organisation is starting its AI journey, you will need to keep your eyes on the prize: record, collect, process, share, transfer data in an effective compliant manner and ultimately in an ethical fashion. In this highly regulated industry, fulfilling your multiple compliance mandates and your – sometimes – overlapping obligations is the foundation. You want to add the ethical dimension to your foundation building programme.
This talk will explore 3 key topics highlighting what authorities have put in place to strike the balance between privacy and AI innovation:
- Guidelines and initiatives at EU level; within UK, and France jurisdictions
- The existing GDPR regulation and some of its provisions whether they are general or specific to AI (article 5, article 22, consent, breaches)
- How considering financial data protection through an ethical lens can help in reducing risk
Jaime Bolivar | Begoña Rubio | Javier Carrallo | TechRules
This session will address the following areas:
- Digital Wealth Management and customer centric solutions
- Analysis in wealth Management. Personalised experience
- Artificial Intelligence: new combination of science and human based advisory models are emerging
- How to cover regulation with Wealth Management Solutions
Jaime Bolivar, Managing Director, TechRules
Begoña Rubio, Business Development & Marketing Director, TechRules
Javier Carrallo, Business Development Manager, TechRules
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