Investment

AI and blockchain technology are going to change the financial services business. How much? Steve Brown, aka "The Bald Futurist" suspects you're underestimating.

While nearly all banks, financial institutions and other organizations have a disaster recovery strategy in place, it’s clear that these plans are not enough to ensure these organizations remain online, regardless of what happens, according to Gijsbert Jassen van Doorn, technology evangelist at Zerto.

Singapore-based money transfer platform TransferTo is working with Stellar.org to facilitate low-cost blockchain-based cross-border remittances for underbanked and unbanked consumers in emerging markets.

An AI-powered virtual assistant could be used in a variety of ways, including helping customers to prequalify for mortgages, easing compliance and detecting problems.

A recent bill to update data breach notification requirements has pitted state and federal credit union trade groups in opposing camps.

The U.K.'s Serious Fraud Office employs software that can read discovery documents about 2,000 times faster than human lawyers and can find previously unknown patterns between people, enabling quicker investigations and penalties.

South Korean cellular carrier LG Uplus, a unit of LG, says early next year it will launch a test of a blockchain-based overseas payment system.

To bridge the skill gap in this area, universities all over the world are working with private companies to provide blockchain-related training programs, according to Donika Kraeva, strategic communications manager at Dentacoin.

Organizations that lack security controls and have experienced a breach can expect auditors, regulators and standards bodies to knock on their doors demanding information, writes Fouad Khalil, head of compliance and SecurityScorecard.

SynapseFI is engineering banking to work as digital parts that connect so easily an amateur developer could potentially build a functioning bank.