Category: Financial Services

Breaking Blockchain Open

Deloitte | September 2018

In Deloitte’s 2018 Global Blockchain Survey, 84% of the executives surveyed believed that blcockhain technology is “broadly scalable and will eventually achieve mainstream adoption” and 75% of respondents see a “compelling business case” for using blockchain. Moreover, 68% say that their competitive advantage is on the line. Deloitte concludes, “blockchain is at an inflection point, with momentum shifting from ‘blockchain tourism’ and exploration to the building of practical business applications.”

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How Machine Learning Helps Prevent E-Commerce Fraud

TransUnion Blog, Glen Goldstein | Aug. 22, 2018
Sometimes it takes a machine-learning computer to detect fraud rather than traditional rule-based algorithms, according to TransUnion’s Glen Goldstein. “Machine learning algorithms are designed to learn from experience and iteratively improve their performance,” according to Goldstein. “Essentially, they adapt as the massive number of factors and conditions evolve within a data set, and can essentially keep up with many of the behaviors that humans — and in the case of e-commerce fraud, criminals — throw at them.”

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How AI Is Transforming the Financial Ecosystem

World Economic Forum and Deloitte | Aug. 15, 2018
Artificial intelligence is fundamentally changing the physics of financial services ecosystem. AI is weakening the bonds that have held together the component parts of legacy institutions, opening the door to entirely new operating models and ushering in a new set of competitive dynamics that will reward institutions focused on the scale and sophistication of data much more than the scale or complexity of capital. This 167-page report, prepared by the World Economic Forum with Deloitte, provides a comprehensive exploration of the impact of AI on financial services.

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Regulators Plan a “Global Sandbox” for Fintech

Daily Fintech, Ilias Louis Hatzis | Aug. 13, 2018
In July, China’s third-largest bank issued the country’s first mortgage loan on the blockchain, using technology issued by the National Agricultural Bank System. Ultimately, the lender, the Agricultural Bank of China (ABC) plans to offer tea farmers e-loans and use land rights and housing property as guarantees. Thus, ABC’s e-loan project requires similar collateral information to the mortgage loans.

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