Innovation & Tools
Anti-counterfeiting: Oberthur Fiduciaire opts for technological artillery barrage - 05/09/2018
Watermarking is one of the most widely used identifying techniques in banknote printing industry, so as to discourage counterfeiting with the help of highly complex printing processes. Appearing under the form of cleverly-integrated patterns visible through various shades of lightness, watermarks are the result of decades of intensive R&D, shedding light on how the secure printing industry turn banknotes into symbols of national sovereignty and public power.
The ECB to check European banking system for vulnerability to cyber attacks - 05/03/2018
The European Central Bank (ECB) announced launch of a cyber security audit program for the banking system. In addition to full-time employees, the system will also be tested by hackers who will try to detect flaws by simulating real hacking attempts. Yesterday, the ECB announced commencement of the first pan-European program, during which participants in the financial market will be tested for...
Moody's: A digital revolution in the banking industry is coming - 04/25/2018
Moody `s rating agency published a study in which it says that development of modern banking technologies already has a revolutionary impact on the world banking industry. The agency's experts believe that those banks that introduce new technologies into their work attract more customers and get more growth prospects. On the other hand, those that hold onto traditional ways of doing business have...
Banco Santander introduced blockchain-based payments. What does it mean for the banking industry? - 04/23/2018
Recently, Banco Santander announced launch of a blockchain service based on Ripple technology to speed up processing of international money transfers. What does it mean for Santander, the banking sector, Ripple, investors and the future of the blockchain? Blockchain appeared largely as a result of inefficiency of the existing banking system. Financial institutions act as intermediaries and take...
Apple introduces new red iPhone 8 and 8 Plus - 04/10/2018
Apple introduced Red Special Edition for the iPhone 8 and the iPhone 8 Plus. Apple traditionally sends part of the funds earned by the Red program directly to the Global Fund to Fight HIV and AIDS. Apple introduced the red iPhone 8 and iPhone 8 Plus, the company says in an official announcement. Both models have a glass case with a tinted aluminum frame and a black front panel. From a technical...
Are blockchain and cryptocurrencies a danger to banks? - 04/03/2018
Blockchain and cryptocurrencies are changing the global financial system, making it more international and less centralized. Nobody knows how this will affect such traditional economic institutions as banks, pension funds, exchanges, public financial authorities. Some of them will take advantage of new opportunities and will succeed, but some may find themselves out of the job. If we talk about...
Japan opens a sustainable smart town of the future - 03/28/2018
The "smart" city of Tsunashima has been officially opened not far from Yokohama, Japan. A group of eight large Japanese companies, led by the technological giant Panasonic and the developer Nomura Real Estate and supported by local authorities, have been building the city for several years. Tsunashima is a smart metropolis of the future. Its territory consists of are a multifunctional office...
IBM: Quantum computing sets to become mainstream in financial services - 03/26/2018
Researchers from IBM believe that quantum computers will be able to compete with conventional bit computers in the next two to three years. The researchers believe that one of the areas of practical application is a financial market where quantum computers can be used to more quickly calculate risk models, optimize asset pricing and hedge. IBM, which actively participates in the development of...
OECD: Taxation in digital economy is a big problem - 03/20/2018
The international community cannot agree on how taxation should look in the digital economy, the Organization for Economic Cooperation and Development (OECD) interim report states. Although more than 110 countries joined the initiative on combating the erosion of the tax base and profit shifting (BEPS), they are unlikely to reach a consensus by the appointed time (the year of 2020). Meanwhile,...
Pentagon hires Google to use its AI developments - 03/12/2018
Google and the US Department of Defense actively cooperate in the field of artificial intelligence within the framework of the joint project codenamed Maven. The project was commenced almost a year ago, but the information became public became only now. The Guardian and Gizmodo say that the project itself raises questions and disagreements both within the company itself and outside it. Last...
