APAC CIO Outlook
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Agile

    Artificial Intelligence

    Aviation

    Bi and Analytics

    Big Data

    Blockchain

    Cloud

    Cyber Security

    Digital Infrastructure

    Digital Marketing

    Digital Transformation

    Digital Twin

    Drone

    Internet of Things

    Low Code No Code

    Networking

    Remote Work

    Singapore Startups

    Smart City

    Software Testing

    Startup

  • E-Commerce

    Education

    FinTech

    Healthcare

    Manufacturing

    Retail

    Travel and Hospitality

  • Dell

    Microsoft

    Salesforce

    SAP

  • Cognitive

    Compliance

    Contact Center

    Corporate Finance

    Data Center

    Data Integration

    Digital Asset Management

    Gamification

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    RegTech

    Travel Retail

Menu
    • Startup
    • Managed Services
    • Blockchain
    • CRM
    • Software Testing
    • E-Commerce
    • Cyber Security
    • Gamification
    • Microsoft
    • Data Integration
    • Low Code No Code
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Startup
    Editor's Pick (1 - 4 of 8)
    left
    Need and Importance of IT in the Shipping Industry

    Anjan Deb, GM-IT (CIO), The Great Eastern Shipping

    Big Data & Insights: Oil for the Digital Age

    Radhika Venkatraman, SVP & CIO, Network & Technology, Verizon

    How Radio and Broadband are Evolving to Bring New Benefits to Australia's First Responders

    Con Balaskas, Managing Director and Vice President, Motorola Solutions Inc.

    The Surge in Enterprise Tech Advancements in Israel

    Mor Assia, Founding Partner and CEO, iAngels

    VR + Corporate Training

    Josh Chapman, Managing Partner, Konvoy Ventures

    How enterprise tech startups and corporates can collaborate for innovation

    Paul Santos, Managing Partner, Wavemaker Partners

    How to Rebuild Better with Impact: A Hybrid Financial and Social Inclusion and Well-Being Approach

    Kenneth Kwok, Founder and CEO, Global Citizen Capital

    How Integrated Fintech Innovations Across Asia Changed the User Experiences And Business Processes?

    Carman Chan, Founder & Managing Partner, Click Ventures

    right

    Partnering in a New Data Era - How Startups Can Help Financial Institution

    Wei Hopeman, Co-Founder and Managing Partner, Arbor Ventures

    Tweet
    content-image

    Wei Hopeman, Co-Founder and Managing Partner, Arbor Ventures

    We live in interesting times: the largest single community is Facebook with two billion daily active users; the largest consumer bank is WeChat, with nearly 800 million customers, and where over 1 billion shoppers will be responsible for over $1 trillion in cross border e-commerce transactions by 2020.

    This change in the way communities are created and transactions are made means that businesses now have access to unprecedented amount of data from a plethora of sources, presenting both an enormous strategic opportunity as well as new challenges. Simply put - the information is abundant, but sorting through and harnessing that data is a business all on its own.

    The difficulty is increased when considering the complex financial industry. Everyone, from established financial institutions to fintech startups, must manage, handle, make use of, and protect an ever growing dataset. The ever increasing complexity slows processes and creates friction resulting in cumbersome customer experiences - not what today's users are expecting in an evermore connected and increasingly personalised environment.

    Requirements and concerns of the different stakeholders, including ecosystem partners, regulators and, ultimately, customers, are often contradictory, yet must all be taken seriously in order for the financial industry to continue thriving and for end users to increasingly trust that their data is being used appropriately.

    Some of these issues which are becoming increasingly important within the financial and services industries are:

    ● Locking down data to protect customers while making it more user friendly.

    Everyone, from established financial institutions to fintech startups, must manage, handle, make use of, and protect an ever growing dataset

    ● Easy access to insights gleamed from the data for different stakeholders, without having to be an engineer/ mathematician/data scientist.

    ● Compliance with country and regional laws with regards to data privacy, storage, and usage

    ● Merging of data stored in disparate sources, ensuring right alignments to maximize accuracy and applicability of knowledge.

    It has become increasing difficult, if not, impossible, for a single institution to manage all these issues in a way that truly answers the overarching industry need. There is an increasing willingness on the part of incumbents to partner with startups to address and solve these core challenges. Some of these startups, for example, come from the cyber intelligence, compliance, and fraud detection sectors, showcasing a hint of the future technologies the world can expect.

    Cyber Intelligence

    A pioneer in the space of online transaction laundering prevention, EverCompliant uses advanced cyber intelligence techniques to give acquirers, PSPs, ISOs, hosting providers and online marketplaces insights into their merchant customers and protects them from association with illicit or otherwise illegal and brand damaging activities.

    Another interesting startup leveraging data to combat financial crimes is ComplyAdvantage, which is building a proprietary AML database to provide real time monitoring and insights into behaviors of individuals and organizations.

    Compliance

    As data becomes more abundant, accessing and integrating it in an efficient and cost effective manner require the ability to overcome technical and compliance bottlenecks, as well as a highly fragmented and obscure data market. One example is DemystData, which focuses on enabling financial institutions to derive customer insights in real time through a single platform that accesses, matches, and structures a myriad of data.

    Fraud detection

    Companies like Forter, Riskified, and NS8 - providing solutions to combat e-commerce fraud, removing friction in the shopping process, increasing revenue for merchants while reducing or eliminating chargeback risks.

    The emergence of these new tools to understand and connect the plethora of interconnected data, creates a core opportunity spanning all stakeholders - the possibility of clearer and more effective business and customer relationships, understanding, and management, moving towards more technology enabled consumer experiences.

    Check this out: Top Healthcare Startups
    tag

    Financial

    Startups

    Weekly Brief

    loading
    Top 20 Enterprise Tech Startups - 2021

    Featured Vendors

    agile talent

    Kim McCarthy and Jim Ellis, Founders

    Timely

    Ryan Baker, CEO & Director

    ON THE DECK

    Startup 2021

    Top Vendors

    Startup 2020

    Top Vendors

    Startup 2019

    Top Vendors

    Startup 2018

    Top Vendors

    Startup 2017

    Top Vendors

    Startup 2016

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    A dose of our own medicine

    A dose of our own medicine

    SABINA JANSTROM, IT DIRECTOR, DYNO NOBEL
    Insider Threat

    Insider Threat

    AI is America's best weapon for disrupting health inequities

    AI is America's best weapon for disrupting health inequities

    Michael Dowling, President & Ceo, Northwell Health and Tom Manning, Chairman, Ascertain
    Combating IoT Challenges with Smart Choices

    Combating IoT Challenges with Smart Choices

    Sandeep Babbar, Head Of Technology Innovation, Gwa Group Limited
    Artificial Intelligence regulations and its impact on medical devices

    Artificial Intelligence regulations and its impact on medical devices

    Leo Hovestadt, Director Quality Assurance Elekta
    Blockchain: promises to revolutionise superapps and the trust factor in insurance

    Blockchain: promises to revolutionise superapps and the trust factor in insurance

    Sue Coulter, Head of Group Digital, AIA Group Julian Lo, Director of Digital Engineering, AIA Group
    Data as a Business

    Data as a Business

    Ricardo Leite Raposo, Director of Data & Analytics at B3
    How Digital Transformation Impacts Big Data Analytics

    How Digital Transformation Impacts Big Data Analytics

    Davide Di Blasi, Global Quality and Lean Director , Hilding Anders International
    Loading...

    Copyright © 2023 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    |  Sitemap |  Subscribe |   About us

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://startup.apacciooutlook.com/cxoinsights/partnering-in-a-new-data-era-how-startups-can-help-financial-institution-nwid-4778.html