Blog by Mirza Ashraf Beg – Fintech, Innovator & Entrepreneur Digital Banking,Shared Post The Great Reset requires FinTechs – and FinTechs require a common approach to cybersecurity

The Great Reset requires FinTechs – and FinTechs require a common approach to cybersecurity

August 24, 2020August 24, 2020 Mirza Ashraf Beg @ DubaiMirza Ashraf Beg @ Dubai 0 Comment 3:52 am
0 0
Read Time:11 Second

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Seán Doyle, Project Lead, …

The Great Reset requires FinTechs – and FinTechs require a common approach to cybersecurity

About Post Author

Mirza Ashraf Beg @ Dubai

Author is Technology Leader and Serial Entrepreneur. Founder and CEO of "Money Protects", an unicorn financial startup company thriving under the kind patronage and partnership of His Highness Zayed bin Saeed bin Zayed al Nahyan, amplifying presence in the arenas of ADGM and DIFC. Money Protects is ingeniously converges Innovation and FinTech with a primary mission to foster sustainability and instill long-term confidence within the financial services ecosystem. Leadership of over 24 years of banking and financial industry in U.A.E, Saudi Arabia and India. Last 3 Years of topnotch Entrepreneurial Leader in Financial Innovation Tech & Climate Tech with sustainable solutions in Futuristic Markets. Major Strengths: • Debt & Asset Management • Treasury, Investment & Funds/Global Markets • IP Innovation & Product Development • Structured products and Restructuring • Hedging and Derivative Markets • FinTech-Open Banking & Reg Tech Advisory • Climate Tech & Sustainable Energy. Expert in Regional/Global Regulatory operational management. Expertise in Global Intelligence, Value Research, Climate Tech & Sustainable Energy, Product Development & Launch, projects related to current global disruptive technological changes & its adaptation through FinTech & web3 Landscape – micro/macro. Tech Writer, Market Researcher, Speaker & Panelist in various International Banking & Technology Forums: Terrapin, Clear stream/Euroclear, Fleming, BII, Allan Lloyds, Trescon, Alpha-one, PWC, Finastra Universe - Misys-Connect etc.
moneyprotects@gmail.com
https://moneyprotects.com
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Tags:

Related Posts

THE DIGITAL BANKINGTHE DIGITAL BANKING

June 13, 2017 June 13, 2017 Mirza Ashraf Beg @ Dubai THE DIGITAL BANKING 0 Comments 11:32 pm
0 0
Read Time:2 Minute, 52 Second

images markets

The current regulatory framework outlines a broad range of requirements and expectations that apply to banking activities more generally, including technological innovation. It is also important to recognize the significant, ongoing progress made by the banking sector following the financial crisis — banks are now safer and sounder, the financial system is more stable and consumers are better protected. Moreover, policymakers and regulators continue to actively monitor developments within the banking sector so that emerging, potential risks are appropriately addressed.

To maintain the progress achieved to date, policymakers and regulators need to confirm that key players within the broader financial services ecosystem operate in a safe and sound fashion and comply with consumer protection, AML/KYC and other applicable requirements — particularly if they engage in bank-like activities (e.g., payments, lending). Additionally, as new technologies continue to emerge and mature, further clarifications to the existing regulatory framework may be warranted to enable implementation of more nascent innovations in a timely, safe and efficient manner.

Further, policymakers, regulators and industry should expand their outreach and enhance coordination with one another both domestically and internationally, not only to keep abreast of technological developments, but also to provide industry with a clear
and consistent message concerning requirements and expectations. This will provide industry with the additional clarity and confidence needed to move forward
on investments in emerging — and potentially much more transformative
and beneficial — technologies that are consistent with regulatory objectives.

Technological innovations driving change

Banks are undergoing a fundamental transformation resulting from a range of technological innovations. Six technologies are currently most prominent in financial innovation: cloud computing, big data and analytics, artificial intelligence (AI)/machine learning (ML), robotic process automation (RPA), distributed ledger technology (DLT) and the Internet of Things. These technologies are at different stages of maturity, and some have the potential to significantly change the industry in the coming years.

Historically, the banking industry has evolved both alongside and as the result of broader political, economic, legal/regulatory, social and technological forces. While the recent financial crisis and resulting regulatory reforms continue to play an important role in reshaping the structure and operating models of banks and markets more broadly, technology-driven innovation will lead to much broader, deeper and more rapid transformations in future years.

Technology-driven innovation is compelling change within the banking industry both internally (i.e., bank-specific) and externally (i.e., industry-specific).

To respond to changing customer expectations and new technological innovations, banks began with a focus on digital experience capabilities, including web, mobile and social. As digital capabilities mature, new technologies emerge and customer expectations continue to evolve, banks are extending their transformation efforts from digitizing narrowly targeted functions to the broader digitization of the enterprise. These changes are resulting in expanded financial inclusion, improved internal operations and transformations to the banking value chain.

As noted, banks initially focused on adopting individual technologies to drive change within narrow and specifically targeted functions (e.g., implementing RPA to automate documentation processes to improve the speed and accuracy of regulatory reporting). However, as technologies continue to evolve and become increasingly interoperable, banks are integrating multiple innovations to precipitate enterprise-wide transformation or digitization. This includes overhauling some of the banking industries most challenging and resource-intensive processes. For example, RPA and analytics are being used to streamline anti-money laundering/know your customer (AML/KYC) functions and to integrate them more effectively within the broader risk management framework.

About Post Author


Mirza Ashraf Beg @ Dubai

Author is Technology Leader and Serial Entrepreneur.

Founder and CEO of "Money Protects", an unicorn financial startup company thriving under the kind patronage and partnership of His Highness Zayed bin Saeed bin Zayed al Nahyan, amplifying presence in the arenas of ADGM and DIFC.

Money Protects is ingeniously converges Innovation and FinTech with a primary mission to foster sustainability and instill long-term confidence within the financial services ecosystem.

Leadership of over 24 years of banking and financial industry in U.A.E, Saudi Arabia and India. Last 3 Years of topnotch Entrepreneurial Leader in Financial Innovation Tech & Climate Tech with sustainable solutions in Futuristic Markets.

Major Strengths:
• Debt & Asset Management
• Treasury, Investment & Funds/Global Markets
• IP Innovation & Product Development
• Structured products and Restructuring
• Hedging and Derivative Markets
• FinTech-Open Banking & Reg Tech Advisory
• Climate Tech & Sustainable Energy.

Expert in Regional/Global Regulatory operational management. Expertise in Global Intelligence, Value Research, Climate Tech & Sustainable Energy, Product Development & Launch, projects related to current global disruptive technological changes & its adaptation through FinTech & web3 Landscape – micro/macro.
Tech Writer, Market Researcher, Speaker & Panelist in various International Banking & Technology Forums: Terrapin, Clear stream/Euroclear, Fleming, BII, Allan Lloyds, Trescon, Alpha-one, PWC, Finastra Universe - Misys-Connect etc.


moneyprotects@gmail.com

https://moneyprotects.com


Happy

Happy

0 %


Sad

Sad

0 %


Excited

Excited

0 %


Sleepy

Sleepy

0 %


Angry

Angry

0 %


Surprise

Surprise

0 %

READ MOREREAD MORE

How does Double Rental – Equity release product affect the UAE market? How does Double Rental – Equity release product affect the UAE market? 

August 3, 2023 August 3, 2023 Mirza Ashraf Beg @ Dubai How does Double Rental – Equity release product affect the UAE market?  0 Comments 11:28 am
0 0
Read Time:1 Minute, 58 Second

Our Product ‘Double Rental – Equity Release’ not only financially supports property owners and corporates but also boosts different markets within the UAE. The impact of ‘Double rental – Equity release’ on the overall UAE market is analyzed from several perspectives: 

Real Estate Market 

  • Increased Demand: This product can potentially increase demand for properties, as it allows older homeowners to access funds without selling their homes. This could lead to a higher level of demand in certain regions, particularly in areas with a higher concentration of retirees. 
  • Supply and Downsizing: On the other hand, some individuals might choose to downsize their homes after accessing equity release, which could increase the supply of smaller properties in the market. 

Economic Impact 

  • Increased Consumer Spending: This product can provide older homeowners with additional funds to supplement their retirement income. This increased spending can have a positive impact on the economy, as it boosts consumer spending and supports various industries. 
  • Reduced Inheritance: By using equity release, homeowners essentially decrease the value of their estate, which may lead to reduced inheritance for their beneficiaries. This could potentially impact wealth transfer and future spending patterns of beneficiaries. 

Financial Services Industry 

  • Growth of Equity Release Providers: As equity release is becoming more popular, there might be a rise in specialized financial institutions or lenders offering these products. This growth could increase competition within the financial services sector and create new business opportunities. 

Government and Regulation 

  • Social and Welfare Implications: The increasing use of equity release may have implications for government welfare programs and social care, as individuals may have more financial resources available to them during retirement. 
  • Regulatory Considerations: Governments may need to monitor and regulate the equity release market to protect consumers from potential risks and ensure transparency and fairness in the industry. 

It’s essential to note that the impact of our product ‘double rental – equity release’ on the overall market can vary depending on the prevalence and popularity of these schemes, economic conditions, and the demographic characteristics of the population. While this product can offer financial flexibility to some homeowners, it is crucial for individuals considering such schemes to seek professional financial advice and carefully evaluate the potential long-term consequences for themselves and their beneficiaries which will be evaluated by the finance professionals within Money Protects. 

About Post Author

Mirza Ashraf Beg @ Dubai

Author is Technology Leader and Serial Entrepreneur. Founder and CEO of "Money Protects", an unicorn financial startup company thriving under the kind patronage and partnership of His Highness Zayed bin Saeed bin Zayed al Nahyan, amplifying presence in the arenas of ADGM and DIFC. Money Protects is ingeniously converges Innovation and FinTech with a primary mission to foster sustainability and instill long-term confidence within the financial services ecosystem. Leadership of over 24 years of banking and financial industry in U.A.E, Saudi Arabia and India. Last 3 Years of topnotch Entrepreneurial Leader in Financial Innovation Tech & Climate Tech with sustainable solutions in Futuristic Markets. Major Strengths: • Debt & Asset Management • Treasury, Investment & Funds/Global Markets • IP Innovation & Product Development • Structured products and Restructuring • Hedging and Derivative Markets • FinTech-Open Banking & Reg Tech Advisory • Climate Tech & Sustainable Energy. Expert in Regional/Global Regulatory operational management. Expertise in Global Intelligence, Value Research, Climate Tech & Sustainable Energy, Product Development & Launch, projects related to current global disruptive technological changes & its adaptation through FinTech & web3 Landscape – micro/macro. Tech Writer, Market Researcher, Speaker & Panelist in various International Banking & Technology Forums: Terrapin, Clear stream/Euroclear, Fleming, BII, Allan Lloyds, Trescon, Alpha-one, PWC, Finastra Universe - Misys-Connect etc.
moneyprotects@gmail.com
https://moneyprotects.com
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
READ MOREREAD MORE

https://www.linkedin.com/feed/update/urn:li:activity:6318444433603956736https://www.linkedin.com/feed/update/urn:li:activity:6318444433603956736

September 26, 2017 September 26, 2017 Mirza Ashraf Beg @ Dubai https://www.linkedin.com/feed/update/urn:li:activity:6318444433603956736 0 Comments 10:25 pm
0 0
Read Time:0 Second

About Post Author


Mirza Ashraf Beg @ Dubai

Author is Technology Leader and Serial Entrepreneur.

Founder and CEO of "Money Protects", an unicorn financial startup company thriving under the kind patronage and partnership of His Highness Zayed bin Saeed bin Zayed al Nahyan, amplifying presence in the arenas of ADGM and DIFC.

Money Protects is ingeniously converges Innovation and FinTech with a primary mission to foster sustainability and instill long-term confidence within the financial services ecosystem.

Leadership of over 24 years of banking and financial industry in U.A.E, Saudi Arabia and India. Last 3 Years of topnotch Entrepreneurial Leader in Financial Innovation Tech & Climate Tech with sustainable solutions in Futuristic Markets.

Major Strengths:
• Debt & Asset Management
• Treasury, Investment & Funds/Global Markets
• IP Innovation & Product Development
• Structured products and Restructuring
• Hedging and Derivative Markets
• FinTech-Open Banking & Reg Tech Advisory
• Climate Tech & Sustainable Energy.

Expert in Regional/Global Regulatory operational management. Expertise in Global Intelligence, Value Research, Climate Tech & Sustainable Energy, Product Development & Launch, projects related to current global disruptive technological changes & its adaptation through FinTech & web3 Landscape – micro/macro.
Tech Writer, Market Researcher, Speaker & Panelist in various International Banking & Technology Forums: Terrapin, Clear stream/Euroclear, Fleming, BII, Allan Lloyds, Trescon, Alpha-one, PWC, Finastra Universe - Misys-Connect etc.


moneyprotects@gmail.com

https://moneyprotects.com


Happy

Happy

0 %


Sad

Sad

0 %


Excited

Excited

0 %


Sleepy

Sleepy

0 %


Angry

Angry

0 %


Surprise

Surprise

0 %

READ MOREREAD MORE