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4 of the Biggest Data Breaches in Banking

Smart Data Collective

Sadly, they often affect banks. Banking is an important sector of the world. This article discusses four of the most significant data breaches in banking…. We put a considerable amount of trust in our banks. We expect banks to fulfil their duty and provide protection. Tesco Bank. Tesco Bank was fined £16.4

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How Artificial Intelligence (AI) Is Changing Banking

Smart Data Collective

There are tons of applications for artificial intelligence available, especially when it comes to banking. The banking industry has been able to utilize a variety of AI technology to streamline processes, enhance security, and improve the customer experience. AI may also be reshaping how banking is done in the not so distant future. “In

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How Financial Institutions Are Becoming Champions Of Big Data

Smart Data Collective

The success of both Fintech companies and traditional banks will hinge on their ability to leverage big data to its fullest potential. According to Forbes, the five largest US banks have a combined loan portfolio of $3.8 Banks are driving the investment in big data more than most other companies within the financial sector.

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Developments in AI and IMF Positions Can Make Bitcoin Legally Tender

Smart Data Collective

We have discussed some of the benefits of AI technology in mainstream financial sectors like banking. The IMF’s stance on Bitcoin is significant because it could help sway central banks and other financial institutions to recognize cryptocurrency as a legitimate form of money. IMF’s Stance for Bitcoin.

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Pros and Cons of Buying Cryptocurrency with Blockchain ATMs

Smart Data Collective

Blockchain even transformed the traditional financial industry, as around 15% of banks started using it in 2017. Also called Bitcoin ATMs, BTMs resemble the standard bank ATM. This situation is similar to when we go to a bank’s ATM and see a message that says that the ATM is broken or not working.

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The Incredible Impact of Blockchain Technology on the Economy

Smart Data Collective

It provided us with the first decentralized digital payment system, independent from banks and governments. This evolution of the blockchain allowed us to create our own cryptocurrencies, jumpstarting the ICO craze of 2017, and driving the prices of cryptocurrencies through the roof.

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Here’s How Blockchain Can Change Bancassurance

Smart Data Collective

move within the insurance and banking chain through documents and forms. Currently, there is no linking system between these the two parties involved (banks and insurance companies) that allows for quick and smooth information exchange. Say, a banking agent tries to change information regarding a customer. Unlike the U.S.,