The Article explores the possibility of Blockchain being the Saviour of the Banks.
The article was republished in Journal of Insitute of Bankers of Pakistan - July 2018
“Over the past two decades, the Internet has
revolutionized many aspects of business and
society... Yet the basic mechanics of how people
and organizations execute transactions… have
not been updated for the 21st century. Blockchain
could bring to those processes the openness and
efficiency we have come to expect
in the Internet Era.”
—Arvind Krishna
Senior VP, IBM Research
Blockchain and trade finance- How does Blockchain work in trade finance?Zabeel Institute
Blockchain and trade finance modern technology allow the recording of purchases on a distributed ledger across a network of individuals. The data from these deals is stored in blocks. Each block consists of a time-stamped document of the purchases.
This article discusses and explains to you Blockchain and trade finance, how does Blockchain work in trade finance?
How Blockchain Can Revitalize Trade Finance (Part 1)Cognizant
As a new way to secure the transfer of value, blockchain technology promises to increase collaboration, automation and oversight in trade finance transactions.
B12: AMLO | FinTech Situation in Thailand and Offshore and Money Laundering R...Kullarat Phongsathaporn
"AMLO Seminar and Workshop regarding new types of financial transactions: FinTech and Financial Inclusion" by AMLO, Panelist for "FinTech Situation in Thailand and Offshore and Money Laundering Risks" (4 Jul 2019)
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
“Over the past two decades, the Internet has
revolutionized many aspects of business and
society... Yet the basic mechanics of how people
and organizations execute transactions… have
not been updated for the 21st century. Blockchain
could bring to those processes the openness and
efficiency we have come to expect
in the Internet Era.”
—Arvind Krishna
Senior VP, IBM Research
Blockchain and trade finance- How does Blockchain work in trade finance?Zabeel Institute
Blockchain and trade finance modern technology allow the recording of purchases on a distributed ledger across a network of individuals. The data from these deals is stored in blocks. Each block consists of a time-stamped document of the purchases.
This article discusses and explains to you Blockchain and trade finance, how does Blockchain work in trade finance?
How Blockchain Can Revitalize Trade Finance (Part 1)Cognizant
As a new way to secure the transfer of value, blockchain technology promises to increase collaboration, automation and oversight in trade finance transactions.
B12: AMLO | FinTech Situation in Thailand and Offshore and Money Laundering R...Kullarat Phongsathaporn
"AMLO Seminar and Workshop regarding new types of financial transactions: FinTech and Financial Inclusion" by AMLO, Panelist for "FinTech Situation in Thailand and Offshore and Money Laundering Risks" (4 Jul 2019)
Our latest quarterly "State of Blockchains" report on developments in the blockchains space, across startups, government and corporate adoption. This information has been provided to help build knowledge and understanding in the emerging blockchain and DLT space.
How can blockchain transform tax? Could distributed ledgers remove the need for invoices? Could governments impose cryptocurrencies to collect and refund value-added tax? Could the role of trusted advisors and tax officers be eliminated? See how blockchain could determine the future of tax, and find out what tax authorities are doing to embrace this transformation.
Blockchain has the potential to transform the supply chain and disrupt the way goods are produced, marketed, purchases and consumed. Learn how blockchain can address multiple retail and supply chain challenges, including counterfeit prevention; stolen merchandise recovery; fraudulent transactions; insurance and theft protection; and intellectual property and rights management.
Regulation & law in the Bitcoin era: analysis and perspectives | Stefano Capa...Codemotion
Bitcoin and cryptocurrencies are innovation permission-less: lawmakers and regulators did not expect this new paradigm. The first experiment to regulate failed (BitLicense), because did not consider the unique characteristics of the new ecosystem, new actors, and new typology of transaction. Starting from common principles and some property of bitcoin, the speech will focus on the effort made by European Union, particularly on European Court of Justice Case C-264/14 and the fifth Anti Money Laundering Directive and made by Italy.
Initio at World Blockchain & Cryptocurrency Summit 2018Initio
We at Initio, went to Moscow to present our vision about How Blockchain can support businesses to be compliant with these regulations? We provided leadership insights and global best market practices to answer to this major question by focusing on the 3 hot topics in EU: GDPR, MiFID and AML. Find out more about this subject in our WBC Summit Moscow slides.
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...Codemotion
Blockchain is the one technology that has the real power of innovating in law: it digitalizes the entire value and life-cycle of assets, but it’s also the layer in which contracts can be executed and coded. Which are the impacts of Blockchain in the practice of Law? and in Academia? During the presentation we will try to answer to this and other questions, bringing use cases and best practices from all over the world.
In this presentation I talk about the state of the digital currency economy in mid 2020, including my unique perspective as CEO of Gilded, a B2B payment solution using digital currency.
I also discuss what it will take to get the flywheel moving and grow the digital currency economy in 2021 and beyond.
EY Ops Chain is a unique offering that helps organizations simplify how they apply blockchain technology across the enterprise. With EY Ops Chain, blockchains expand beyond the finance function to rewrite the world of industrial collaboration by converging finance, IT and operations — creating new business and operating models.
BlockToken - How to Launch an ICO or STOGenson Glier
BlockToken describes to the Australian Crypto community how to launch a token offering within today's current climate. This presentation discusses the various methods used in the marketing and distribution of ICO and STO campaigns.
Grow VC Group digital finance insight and visionGrow VC Group
Digital Finance ecosystem is emerging. It is changing all finance services. Resource sharing, partner networks and APIs have very important role in the ecosystem. Grow VC Group companies offer solutions and services to enable digital finance.
B11: Central IP & IT Court | FinTech: Legal and Regulatory Challenges (7 Aug ...Kullarat Phongsathaporn
"Special seminar on Memorial Day for Thailand's Father of Law" by Central IP & IT Court, Panelist for "FinTech: Legal and Regulatory Challenges" (7 Aug 2019)
Hoy traemos a este espacio esta infografía de Capgemini Consulting , titulada Smart Contracts in Financial Services: Getting from Hype to Reality , y que nos presentan así:
The potential of smart contracts – programmable contracts that automatically execute when pre-defined conditions are met – is the subject of much debate and discussion in the financial services industry. Smart contracts, enabled by blockchain or distributed ledgers, have been held up as a cure for many of the problems associated with traditional fi nancial contracts, which are simply not geared up for the digital age. Reliance on physical documents leads to delays, inefficiencies and increases exposure to errors and fraud. Financial intermediaries, while providing interoperability for the finance system and reducing risk, create overhead costs for and increase compliance requirements.
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Blockchain would be the most likely and viable solution of Anti Money Laundering problems. Banking, financial as well as non financial industries along with regulators can benefit from this tecchnology
How can blockchain transform tax? Could distributed ledgers remove the need for invoices? Could governments impose cryptocurrencies to collect and refund value-added tax? Could the role of trusted advisors and tax officers be eliminated? See how blockchain could determine the future of tax, and find out what tax authorities are doing to embrace this transformation.
Blockchain has the potential to transform the supply chain and disrupt the way goods are produced, marketed, purchases and consumed. Learn how blockchain can address multiple retail and supply chain challenges, including counterfeit prevention; stolen merchandise recovery; fraudulent transactions; insurance and theft protection; and intellectual property and rights management.
Regulation & law in the Bitcoin era: analysis and perspectives | Stefano Capa...Codemotion
Bitcoin and cryptocurrencies are innovation permission-less: lawmakers and regulators did not expect this new paradigm. The first experiment to regulate failed (BitLicense), because did not consider the unique characteristics of the new ecosystem, new actors, and new typology of transaction. Starting from common principles and some property of bitcoin, the speech will focus on the effort made by European Union, particularly on European Court of Justice Case C-264/14 and the fifth Anti Money Laundering Directive and made by Italy.
Initio at World Blockchain & Cryptocurrency Summit 2018Initio
We at Initio, went to Moscow to present our vision about How Blockchain can support businesses to be compliant with these regulations? We provided leadership insights and global best market practices to answer to this major question by focusing on the 3 hot topics in EU: GDPR, MiFID and AML. Find out more about this subject in our WBC Summit Moscow slides.
Regulation in the Digital Era? Some thoughts on the Blockchain | Marta Ghigli...Codemotion
Blockchain is the one technology that has the real power of innovating in law: it digitalizes the entire value and life-cycle of assets, but it’s also the layer in which contracts can be executed and coded. Which are the impacts of Blockchain in the practice of Law? and in Academia? During the presentation we will try to answer to this and other questions, bringing use cases and best practices from all over the world.
In this presentation I talk about the state of the digital currency economy in mid 2020, including my unique perspective as CEO of Gilded, a B2B payment solution using digital currency.
I also discuss what it will take to get the flywheel moving and grow the digital currency economy in 2021 and beyond.
EY Ops Chain is a unique offering that helps organizations simplify how they apply blockchain technology across the enterprise. With EY Ops Chain, blockchains expand beyond the finance function to rewrite the world of industrial collaboration by converging finance, IT and operations — creating new business and operating models.
BlockToken - How to Launch an ICO or STOGenson Glier
BlockToken describes to the Australian Crypto community how to launch a token offering within today's current climate. This presentation discusses the various methods used in the marketing and distribution of ICO and STO campaigns.
Grow VC Group digital finance insight and visionGrow VC Group
Digital Finance ecosystem is emerging. It is changing all finance services. Resource sharing, partner networks and APIs have very important role in the ecosystem. Grow VC Group companies offer solutions and services to enable digital finance.
B11: Central IP & IT Court | FinTech: Legal and Regulatory Challenges (7 Aug ...Kullarat Phongsathaporn
"Special seminar on Memorial Day for Thailand's Father of Law" by Central IP & IT Court, Panelist for "FinTech: Legal and Regulatory Challenges" (7 Aug 2019)
Hoy traemos a este espacio esta infografía de Capgemini Consulting , titulada Smart Contracts in Financial Services: Getting from Hype to Reality , y que nos presentan así:
The potential of smart contracts – programmable contracts that automatically execute when pre-defined conditions are met – is the subject of much debate and discussion in the financial services industry. Smart contracts, enabled by blockchain or distributed ledgers, have been held up as a cure for many of the problems associated with traditional fi nancial contracts, which are simply not geared up for the digital age. Reliance on physical documents leads to delays, inefficiencies and increases exposure to errors and fraud. Financial intermediaries, while providing interoperability for the finance system and reducing risk, create overhead costs for and increase compliance requirements.
Leading blockchain and Web 3.0 venture capital firm Outlier Ventures published the Q3 report in its State of Blockchains series, which provides an overview into blockchain investment and market trends worldwide. The report reveals a range of insights into the market
Crafting Decentralized Finance (DeFi) based Capital Market infrastructureFloyd DCosta
Despite digitization and progress in the last decade, Capital Markets continue to be plagued by a set of long-standing challenges. Meanwhile, Blockchain technology has gone mainstream and now Decentralized Finance (DeFi) offers a next-generation platform to transform Capital Markets.
Based on open protocols and DApps, DeFi can help transform the global financial infrastructure and lead Capital Markets into the post Covid-19 ‘Digital’ era
Blockchain would be the most likely and viable solution of Anti Money Laundering problems. Banking, financial as well as non financial industries along with regulators can benefit from this tecchnology
Global trade of goods has been growing at double-digit rates since the early 2000s. Digitzation had its time; but still we have manual paper based work exsisitng in most of the Trade finance activities. Now is the time to see value addition from Blockchain based platforms and how they can make this process faster, reliable and paperless.
How Blockchain App Development is Paving the Way for the FutureDamco Solutions
Blockchain applications can serve as a trading and financing instrument to ensure distributed ledger-backed payments. Finance and Banking services have taken a lead in Blockchain app development. For more in detail, please visit - https://www.damcogroup.com/blogs/how-blockchain-app-development-is-paving-the-way-for-the-future/
Extract from the presentation of Max Lyadvinsky, Bloomio CEO, at the Financial Innovation Summit in Doha, Qatar.
The deck offers an insightful analysis on real blockchain opportunities with a focus on Middle East.
Extract from the presentation of Max Lyadvinsky, Bloomio CEO, at the Financial Innovation Summit in Doha, Qatar.
The deck offers an insightful analysis on real blockchain opportunities with a focus on Middle East.
Financial Technologies Innovations: A Roadmap to Social Well BeingVinod Kashyap
What is Financial Technology ?
Some facts about FinTech
Most active areas of FinTech Innovation
How financial technologies (FinTech) can help in providing financial services and financial products to unbanked and underbanked ?
Crypto currencies usage is growing in a more connected world. The traditional banking industry is being disrupted by a decentralized network, rich in computing resources and connectivity.
Full quality version here -> https://www.scribd.com/document/333257162/Crypto-Currency-Mining-Science
The article explores possibilities of using the blockchain as a replacement for a KYC Registry , as a Digital Signature / Digital Identity solution and for UBO (ultimate beneficial owner ) tracking.
MindWorks Ventures presents 'Blockchain Report 2017' which includes an introduction to blockchain, industry trends, relevant blockchain startups, and potential risks and regulations.
The Blockchain is a technology created with the bitcoin, which has become the world's 8th currency in terms of amounts exchanged. The Blockchain brings with it new promises of innovation in all sectors, but also of disruption of dominant economic models. By taking an interest now in its potential applications, we can be one step ahead of the next stage of the digital revolution and the advent of a "horizontal" society,
without intermediaries or centralized authority...
The Blockchain is probably set to revolutionize transactions and exchanges; in the same way that Internet enabled peer-to-peer communication, in the years to come the Blockchain will provide the means for peer-to-peer transactions under a decentralized and autonomous rationale.
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024Neo4j
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
Enchancing adoption of Open Source Libraries. A case study on Albumentations.AIVladimir Iglovikov, Ph.D.
Presented by Vladimir Iglovikov:
- https://www.linkedin.com/in/iglovikov/
- https://x.com/viglovikov
- https://www.instagram.com/ternaus/
This presentation delves into the journey of Albumentations.ai, a highly successful open-source library for data augmentation.
Created out of a necessity for superior performance in Kaggle competitions, Albumentations has grown to become a widely used tool among data scientists and machine learning practitioners.
This case study covers various aspects, including:
People: The contributors and community that have supported Albumentations.
Metrics: The success indicators such as downloads, daily active users, GitHub stars, and financial contributions.
Challenges: The hurdles in monetizing open-source projects and measuring user engagement.
Development Practices: Best practices for creating, maintaining, and scaling open-source libraries, including code hygiene, CI/CD, and fast iteration.
Community Building: Strategies for making adoption easy, iterating quickly, and fostering a vibrant, engaged community.
Marketing: Both online and offline marketing tactics, focusing on real, impactful interactions and collaborations.
Mental Health: Maintaining balance and not feeling pressured by user demands.
Key insights include the importance of automation, making the adoption process seamless, and leveraging offline interactions for marketing. The presentation also emphasizes the need for continuous small improvements and building a friendly, inclusive community that contributes to the project's growth.
Vladimir Iglovikov brings his extensive experience as a Kaggle Grandmaster, ex-Staff ML Engineer at Lyft, sharing valuable lessons and practical advice for anyone looking to enhance the adoption of their open-source projects.
Explore more about Albumentations and join the community at:
GitHub: https://github.com/albumentations-team/albumentations
Website: https://albumentations.ai/
LinkedIn: https://www.linkedin.com/company/100504475
Twitter: https://x.com/albumentations
Communications Mining Series - Zero to Hero - Session 1DianaGray10
This session provides introduction to UiPath Communication Mining, importance and platform overview. You will acquire a good understand of the phases in Communication Mining as we go over the platform with you. Topics covered:
• Communication Mining Overview
• Why is it important?
• How can it help today’s business and the benefits
• Phases in Communication Mining
• Demo on Platform overview
• Q/A
GraphSummit Singapore | The Future of Agility: Supercharging Digital Transfor...Neo4j
Leonard Jayamohan, Partner & Generative AI Lead, Deloitte
This keynote will reveal how Deloitte leverages Neo4j’s graph power for groundbreaking digital twin solutions, achieving a staggering 100x performance boost. Discover the essential role knowledge graphs play in successful generative AI implementations. Plus, get an exclusive look at an innovative Neo4j + Generative AI solution Deloitte is developing in-house.
UiPath Test Automation using UiPath Test Suite series, part 6DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
Sudheer Mechineni, Head of Application Frameworks, Standard Chartered Bank
Discover how Standard Chartered Bank harnessed the power of Neo4j to transform complex data access challenges into a dynamic, scalable graph database solution. This keynote will cover their journey from initial adoption to deploying a fully automated, enterprise-grade causal cluster, highlighting key strategies for modelling organisational changes and ensuring robust disaster recovery. Learn how these innovations have not only enhanced Standard Chartered Bank’s data infrastructure but also positioned them as pioneers in the banking sector’s adoption of graph technology.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
Generative AI Deep Dive: Advancing from Proof of Concept to Production
Blockchain & AML - The Yin & Yang
1. he increasing focus on the latter,
especially, is due to the enactment of
similar regulations in Western (US,
UK, and EU) as well as emerging Asian
economies .
However, implementing such measures
tend to be highly cost-intensive. Banks
and other financial institutions have to
invest significantly in technological
infrastructure in order to ensure security
and compliance. Alongside that, the
institutions also incur indirect costs
arisingfromtheimpactof AMLcompliance
on productivity, customer acquisition and
business growth.
Global spending on AML processes
were expected to grow beyond $8 billion
in 2017. The areas of high AML budget
investmentsince2014includeenhancement
of transaction monitoring systems;
reviewing, updating, and maintaining
KYC; and implementation of FATCA,
among others. Moreover, according to a
survey conducted by LexisNexis in Asian
Markets, 14% of the AML compliance
costs comprised of KYC/CDD processes,
Despite such heavy investment in personnel,
technology and processes; the regulators
do not seem satisfied as finesandmonetary
settlementsforbanksarenot in compliance
with such regulations surpassed $13.4
billion in 2014.
This is mainly due to fundamental
problems of non-standardization of
KYC/CDD processes and non-availability
of a comprehensive and verifiable customer
information base (CNIC, Social Security,
Taxation No. etc.). Banks do not share the
customer’s data with each other due to
regulatory or business constraints; hence,
different data on KYC/CDD forms of a
customer at different banks is a normal
observation. Furthermore, banks do not
rely upon such documentary verification
only; they routinely have to go beyond
the paperwork to meet the expectations
of the regulator as well as to comply with
AML/CFT regulations & guidelines.
However, reality check enquires about
the necessary tools and technology
provided to the banker to ensure effective
compliance. Moreover, collection and
maintenance of customers’ data at such a
level requires substantial investment,
maintenance, security costs along with
risk management protocols to deal with
failure, attacks, and downtimes, etc.
When Bitcoin’s white paper was
released in Oct 31, 2008, it explained the
working prototype of a technology for
peer-to-peer electronic cash system. The
technology claimed to enable smooth P2P
(person-to-person) payment operations
without the need of a third party
intermediary. The technology further
boasted of ‘triple entry’ accounting system
presented by Wei Dai in 1998. The
technology in discussion was termed as
‘Blockchain’, with Bitcoin becoming its
first application.
Blockchain is a decentralized ledger
that is secured by highly sophisticated
cryptographic algorithms, which keeps
records of all transactions/updates. The
decentralized nature of Blockchain
enables it to be theoretically hack-proof,
tamper-proof, and cost effective. The
whole concept of Blockchain is to
circumvent the banks, central banks, and
financial intermediaries such as the PSOs
and PSPs (Payment System Operators and
Payment System Providers) when carrying
out transactions. There are good reasons
to believe that Blockchain may become
the most likely solution to the
AML/CFT compliance conundrum.
In Chinese philosophy, the concept of
‘yin and yang’ describes how opposite
or contrary forces may actually be
complementary, interconnected and
interdependent in the natural world.
Blockchain and AML are the perfect
example of Yin & Yang: the technology
will likely be the stepping-stone in the
historical innovation application for the
very banking sector it aspires to replace.
Several companies are currently
working on Blockchain technology for
commercial banks to develop an efficient
KYC/CDD system. The system would
include an exhaustive customer database,
incorporating details from citizenship to
education, employment related records to
credit history and financial records, etc.
The data on the Blockchain would not be
accessible except by the authorized
In today’s world, the leading concerns of financial
institutions revolve around strengthening of
regulations pertaining to Anti-Money Laundering
(AML) and Combating the Financing of Terrorism
(CFT); and improving compliance of existing
Know-Your-Customer (KYC) and Customer
Due Diligence (CDD) protocols.
Blockchain & AML
The Yin & Yang
By: Syed Hassan Talal
Blockchain is a
decentralized ledger
that is secured by
highly sophisticated
cryptographic
algorithms, which
keeps records of all
transactions/updates.
The decentralized
nature of Blockchain
enables it to be
theoretically
hack-proof,
tamper-proof, and
cost effective.
There are good reasons to
believe that Blockchain may
become the most likely
solution to the AML/CFT
compliance conundrum.
OPINION
Journal of The Institute of Bankers Pakistan40 Journal of The Institute of Bankers Pakistan 41
2. financial institutions. Such institutions
wouldbeabletoaccessrealtimeinformation
of its clients with minimum costs.
Furthermore, instead of filling out a
whole set of documents with plethora of
formalities, the customer would simply
enteritsuniqueIDandalloftheinformation
would be made accessible to the bank.
Lastly, the smaller financial institutions
would be able to achieve a level-playing
field, courtesy of low upfront and variable
costs of maintaining and accessing such a
database. Resultantly, effective compliance
of AML/CFT regulations would serve as
a stepping stone for the institutions to
expand their operations locally and globally
by introducing a range of innovative
products and services. The standardization
and reliability of the customer information
would allow regulators to implement an
effective AML regulatory infrastructure.
Now, some would argue that Pakistan
has eCIB, which can be upgraded to such
purposes theoretically. Nevertheless,
eCIB is only limited to credit scoring and
updating it would require substantial
investment – not to mention the hardware
upgradation and high maintenance costs
duetoincreasedtrafficonservers.Moreover,
the risk of ‘single point of failure’ still
persists in this scenario. In the long run, a
more cost effective solution is required to
address the current as well as anticipated
challenges in the future. In this regard,
Blockchain presents itself as a viable
contender.
This article first appeared in State Bank
News (February 2018).
Blockchain
and AML
are the
perfect
examples
ofYin &
Yang: the
technology
will likely
be the
stepping
-stone in the
historical
innovation
application
for the very
banking
sector it
aspires to
replace.”
K FinTech firms saw record
venture-capital investment last year,
attracting a total of £1.34 bn in
funding in 2017. This impressive figure
was more than four times the amount
invested in Germany’s FinTech sector, and
more than the combined total for Ireland,
France and Sweden.
Some of the biggest beneficiaries
included peer-to-peer lender Funding
Circle (£81.9 mn) and digital bank
Monzo (£71 mn). With 90% of investment
raised going to FinTech firms in London,
the capital has established itself as a
leading global hub for all things related to
financial technology.
The Mayor of London, Sadiq Khan,
said: “Today’s record investment figures
are further proof that London is the
undisputed tech capital of Europe, and I
am committed to ensuring we take over
from Silicon Valley as the world’s leading
tech hub.
“Technology entrepreneurs and
businesses are attracted to our great city
for its diverse talent pool and unique
business ecosystem, and I am determined
that London remains open to investment
and the best tech talent from all over the
world.”
Courtesy: Chartered Banker magazine (February/
March 2018).
FinTech Funding
COMPENSATION
& BENEFITS
STRATEGYBy: Syed Yasir Hussain
Employee attrition cost organizations dearly, not just the hiring and training itself, but the productivity,
team dynamics, continuity, institutional knowledge and most importantly opportunities that could not
be seized. Efficient compensation and benefits strategy coupled with conducive company culture and
employee engagement play a vital role in receding employee turnover and creating a proud workforce.
Rs
Rs
Rs
Rs
MANAGEMENT
Journal of The Institute of Bankers Pakistan42 Journal of The Institute of Bankers Pakistan 43