Blockchain Will Make Financial Services More Available, Secure, And Fair

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One of the hallmarks of 2020 is that global economies are seeing lots of instability, and this is true at every level of society. For individuals, there may be more options available, but this hasn’t necessarily translated into more people being able to access banking services. In some regions, great ideas like micro-lending have taken off, and this has helped. But globally, as we move away from standard Monday-Friday, 9-5 jobs, millions of people are turning to non-traditional forms of work. For many of these independent workers, the result has been that personal finance is getting even further away. 

At a global level, we’re still seeing huge numbers of underserved people. Even in developed nations, the gulf between banked vs. unbanked can be deep: in the US, as many as one quarter of all households are unbanked or underbanked, without easy access to savings, credit, or loans. There are also

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Abaka launches Chatbot as a Service solution for financial firms

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  • baka debuted a conversational chatbot product for financial firms to integrate into their digital channels, complementing its existing AI applications.
  • The move will be especially useful for smaller players’ digital transformations.

The off-the-shelf offering enables financial advisors, wealth managers, retail banks, insurers, and retirement providers to integrate an AI chatbot, Finextra reports. Launched in 2015, Abaka is a technology platform that provides AI solutions to financial firms of all sizes, and it has offices in the UK, France, Singapore, and the US.

Reported benefits of using AI interactions for global banking and insurance customers

Abaka launches Chatbot as a Service solution for financial firms.

Business Insider Intelligence


Abaka’s chatbot promises to boost financial firms’ client engagement and satisfaction, and complements its existing products.

  • Financial firms are keen to use chatbots to improve customer interactions, but they face implementation challenges. Forty-nine percent of global consumers say that AI interactions in insurance and banking provide better security and privacy around personal data than humans
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SS&C Launches Accredited Financial Services Education Library

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WINDSOR, Conn., Sept. 16, 2020 /PRNewswire/ — SS&C Technologies Inc. (NASDAQ: SSNC) today announced it has released a new online education product for financial professionals. SS&C’s GAMMA is a digital library of online courses optimized for remote learning by financial industry professionals. The product provides seamless access to hundreds of online courses across more than 30 financial topics, from accounting and finance basics to portfolio management and software skills.

The library of innovative, interactive online courses is accredited with various industry associations and organizations to support key industry certifications and designations, including:

  • CPA®: National Association of State Boards of Accountancy (NASBA) CPE credits for Certified Professional Accountants®
  • CIMA®, CIMC®, CPWA®, RMA®: Investment and Wealth Institute (IWI) CPE credits for Certified Investment Management Analysts®, Certified Investment Management Consultants®, Certified Private Wealth Advisors® and Retirement
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ServiceNow launches latest Now Platform, telecom and financial services workflows

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ServiceNow launched a new version of its Now Platform, code-named Paris, with editions for telecommunications and financial services as well as workflows for business continuity, hardware asset management and legal services delivery.

The company, which is gunning to be the “platform of platforms” to automate enterprise workflows, has seen strong growth due to digital transformation as well as management of COVID-19 back-to-work plans. Also: ServiceNow launches four-app suite to manage the move back to the office

“The 21st century enterprise is different. It has to be nimble, intelligent and drive employer and customer loyalty,” said ServiceNow CEO Bill McDermott. “And it has to be self-funding with time to value in weeks to months.”

McDermott’s argument is that the COVID-19 pandemic has exposed weak links and silos in enterprise value chains. For instance, companies can’t be agile when they have a bunch of systems that specialize in one task, say sales,

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Financial services sector increases digital ad spending amid pandemic

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  • Insider Intelligence publishes thousands of research reports, charts, and forecasts on the Media, Advertising, and Marketing industry. You can learn more about becoming a client here.
  • The following is a preview of the US Financial Services Digital Ad Spending 2020 report.

Despite this year’s decline in total ad spending in the US, the financial services industry will increase its digital ad outlays.

Top strategic initiatives for US financial services executives once the coronavirus pandemic is over

Digital ad spending in the US financial services industry will increase in 2020.

eMarketer


The pandemic has prompted many consumers to reassess their personal finances and change how they bank, leading the industry to continue spending on digital ads. We expect digital ad spending in the US financial services industry will increase 9.7% in 2020, to reach $19.62 billion.

Consumer banks have closed a significant number of branches, temporarily or even permanently, because of the pandemic. Without a physical location to visit, many consumers have shifted to online

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Johnson Service Group PLC’s (LON:JSG) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?

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It is hard to get excited after looking at Johnson Service Group’s (LON:JSG) recent performance, when its stock has declined 6.1% over the past three months. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Johnson Service Group’s ROE in this article.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company’s shareholders.

View our latest analysis for Johnson Service Group

How To Calculate Return On Equity?

Return on equity can be calculated by using the formula:

Return on

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Council Post: 5G In Financial Services: Evolution, Not Revolution

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CTO and SVP of NetScout, Service Provider – Leads technology strategy for product and service solutions.

With proper implementation, 5G will accelerate the evolution of modern financial services, permuting tasks as routine as obtaining credit information to next-generation edge- and cloud-computing operations, AI, and much more. It is the bridge to the mobile-centric business model that is the banking industry’s future.

“Evolution” is the operative word as 5G builds on existing progress in both telecommunications and banking. Regarding the former, 5G is backward compatible, meaning 5G phones “are capable of functioning on earlier-generation networks outside of 5G coverage areas,” according to the FCC. This means that mobile providers can “maintain their 4G networks as they invest in 5G deployment.”

As to the latter, many financial innovations are already deemphasizing “brick and mortar” banking. The need has only increased during the coronavirus pandemic. A more significant number of financial

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Orrstown Financial Services (NASDAQ:ORRF) Share Prices Have Dropped 45% In The Last Three Years

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In order to justify the effort of selecting individual stocks, it’s worth striving to beat the returns from a market index fund. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. We regret to report that long term Orrstown Financial Services, Inc. (NASDAQ:ORRF) shareholders have had that experience, with the share price dropping 45% in three years, versus a market return of about 42%. And more recent buyers are having a tough time too, with a drop of 42% in the last year. Unfortunately the share price momentum is still quite negative, with prices down 11% in thirty days.

See our latest analysis for Orrstown Financial Services

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time

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How The Financial Services Industry Can Cater To The Next Generation Of Wealth

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David Allison is a bestselling author, international speaker and the Founder of the Valuegraphics Database.

Within the next 25 years, we will see the largest wealth transfer in history as baby boomers pass an estimated $68 trillion down to the next generation. Anyone interested in reaching these next-generation high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) must learn to deliver on their values, wants, needs and expectations, which could be different from their parents. But are they? 

The financial services industry looks at this group — which I’ve dubbed The Inheritors — and sees nothing but questions. Thankfully, we can reach them.

My company surveyed 1,850 HNWI and UHNWI who will inherit from $10 million to over $100 million. We wanted to learn what these individuals truly cared about, and as we dug into the results, four distinct groups emerged:

1. The Masters Of The Universe

2. The Loyal

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Capital Plus Financial Engages BrightFi Services To Provide High-Quality, Ultra Low-Cost, Accessible Banking To Underserved Communities

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TipRanks

Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 40%

Is the market’s recent run of record high levels another bubble? And is the recent retreat the beginning of a burst, or just a correction? Will investors take heart from the strong August jobs report? And what about the election – how will the nation’s unstable political scene impact the financial markets? These are just a few of the questions that investors must answer as September heats up.Two strategists from investment giant Goldman Sachs have weighed in on market prospects in recent days, and have published diverging opinions. For the bulls, Jan Hatzius sees the employment numbers as the key data point, saying that even if growth has slowed from its breakneck pace in the immediate aftermath of the economic reopenings, it should remain strong in the coming months.Equity strategist Christian Mueller-Glissman, however, sees the current

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