Technologies such as cloud computing, data analytics, artificial intelligence, the internet of things, and APIs have significantly underscored data and data availability at the desired time and location. However, increased digitization has led to barriers such as data localization regulations, which are hampering the growth of technology.

Data localization laws place restrictions on where and how data can be stored or transferred.

Data localization laws require all or specific data held by companies to be stored and/or processed locally in a particular country or a local computing environment, rather than on the cloud. The scope and stringency of these laws…

What Causes Application Abandonment?

Digital onboarding abandonment is a serious hurdle faced by banks in registering new customers through online channels. According to a recent study by Signicat, the percentage of European consumers who abandoned a digital banking application surged from 38% in 2019 to 63% in 2020.

As digital onboarding is the first step in establishing a relationship with a new customer, banks cannot afford a sub-optimal customer experience. One of the major reasons for application abandonment is the time taken to complete an online application. According to a study on online account opening in banks in the UK conducted by Built for…

Digital lending platforms offer consumer and business loans, and the global digital lending platform market is projected to reach $20.31 billion by 2027. Consumer lending is often sliced into alternative lending, P2P lending, online lending, marketplace lending, PoS lending, and Buy Now, Pay Later (BNPL).

The global BNPL platforms market was valued at $7.32 billion in 2019, and it is expected to reach $33.63 billion by 2027. BNPL platforms have become quite popular in recent years owing to the ‘no interest’ feature. …

E-commerce and Digital Lending are the two segments of global markets that have responded to the pandemic in unprecedented ways, given there’s no playbook for handling such a global crisis. While E-commerce has registered double-digit growth and an influx of online customers, Lending has quickly reinvented and restructured the product and service segments.

Agility, strong financial standing, and innovation have set some companies apart from the rest. However, the three characteristics have been part of the strategy of one company that has a steady growth path.

Amazon — From an Online Marketplace for Books to an E-commerce Giant

Amazon has…

The much-debated PSD2 Strong Customer Authentication (SCA) in the European Union fully came into effect on January 1, 2021*. This implementation comes under extraordinary circumstances caused by the pandemic. Much of Europe has moved into another phase of lockdowns, causing a shift in shopping behavior, i.e., from brick-and-mortar to digital. The change in purchasing habits has also led to the emergence of first-time online shoppers.

Phone-Centric Identity, also known as Mobile Identity, Device Intelligence, or Phone Intelligence, refers to technology that optimizes and analyzes mobile, telecom, and other signals for fraud prevention and identity verification and authentication.

Correlation between Phone-Centric Identity Signals and Digital Trust

Phone-Centric Identity relies on billions of real-time signals pulled from authoritative sources, making it a powerful proxy for digital identity and trust. Phone-Centric Identity signals are highly correlated with identity and trustworthiness as mobile phones are ubiquitous (many people have them) and frequently used devices.

What is Islamic Banking?

Islamic banking covers financing or banking activities that strictly adhere to Sharia (Islamic law). Broadly speaking, there are two fundamental tenets of Islamic banking — strict prohibition on the payment and collection of interest and prohibition on investments in activities or substances forbidden by Sharia, such as alcohol, pork, and gambling.

Instead of charging an interest rate, Islamic banks enter an equity participation agreement with a borrower. The borrower shares their profit with the bank until the debt is paid in full.

Islamic banking is steeped in tradition; it adheres to the tenets of Islam so…

The post-pandemic world requires new and different technologies to help us safely resume doing the things we love. Digital health passports (sometimes called vaccine passports or COVID-19 immunity passports) are a new type of technology that does just that.

Digital Health Passports: An Overview

Digital health passports are apps that consumers can download and use to present proof of vaccination status or COVID-19 negative test status in order to access air travel, sporting events, office buildings, concert venues, restaurants, and other events and locations.

Health passports seem like a no-brainer and a smart way to resume some of the activities…