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2020 Emerging Trends In The Financial Services Industry

The year 2020 marks the beginning of a significant phase in the financial services industry, founded on a slew of disruptive innovations of the previous decade. A majority of industry players are continuing to digitize and automate their processes, leverage data and analytics to steer strategic business decisions and develop new service delivery cultures to tune up their customer experiences. Thus, the financial services industry is opening up to the idea of ecosystems and partnerships between challengers and traditional banks.

For financial service providers and other connected businesses, staying primed about the road ahead will be instrumental in pivoting their next moves. Here’s a quick roundup of the most popular emerging trends on the financial services horizon:

Emergence of the sharing economy

Peer-to-peer payment platforms such as PayPal, Venmo, and Zelle have inspired consumers to route for money without approaching traditional institutions. The popularity of these platforms has encouraged not only big legacy banks to develop their own versions of a similar offering, but also drive non-traditional players such as Google, Amazon, and Facebook to improve their e-wallet offerings.

Fintech start-ups often need resources geared with specific domain and technical skill sets. Thanks to the sharing economy they can access on-demand professionals that match their eligibility criteria, ready to take up ad-hoc engagements at a relatively affordable budget. Thus, the sharing economy has made procuring ideal resources cheaper and more efficient, compared to hiring part-time or permanent employees.

Role of blockchain in innovation and cross-border payments

Blockchain is undoing outdated business models. According to Accenture and Spain’s Santander, this technology is expected to save as much as USD 20 billion in annual operating costs for the Banking and Financial Services (BFS) industry.

Adoption of blockchain technologies will become critical for SMEs globally, as it will enable improved liquidity and reduce operational costs, freeing up valuable resources for reinvestment. Apart from this, blockchain has been instrumental in driving safe and effortless cross border payments.

In 2017, SWIFT GPI was launched by the Society of Worldwide Interbank Financial Telecommunication. It strives to develop existing messaging and processing systems that connect over 10,000 banks. Recently, JPMorgan Chase had announced its individual cryptocurrency, JPMCoin, meant to undertake issues faced by the bank conglomerates in the cross-border payment arena.

Role of cognitive intelligence in the financial services industry

Artificial Intelligence (AI) and robotics are going beyond customer service and are expected to broaden their industry prospects. Risk assessments, analytics, logistics, investments, and supply chain management can all be automated using these technologies to provide a steadier and more dynamic process.

These technologies will help to realize the benefits of optimizing costs while enhancing operations. For instance, Canada based TD Bank set up an Innovation Centre of Excellence (CoE). It provides a platform for bank-wide experimentation to diminish operational complexity and enrich consumer experience.

Other latest innovations in the industry built on AI include robo advisors like Pepper, Nao, and Lakshmi, biometric-based authentications, and voice commerce.

Rise in dependence on cloud providers to reduce IT costs

Financial institutions use Software-as-a-service (SaaS) cloud services for data storage, consumer relationship management (CRM) platforms, and human resources. But 2020 will see an evolution in its usage to cover billings, loan management, and cross border exchanges offering a smoother end-user experience. However, financial services providers should also stay geared to deal with its impending cybersecurity threats.

Banks are adopting new standards of cloud solutions like 10X and Thought Machine, and more players will follow in 2020 and ahead. For instance, Deutsche Bank Luxembourg adopted the Avaloq Banking Suite, which enabled them to provide their customers their entire suite of services through a single cash ledger while reducing complexity, risks, and expenses especially related to wealth management.

Demand for in-app, real-time micropayments and digital wallet payments

Previously, micropayments had been restricted to messaging applications like Telegram, but big technology firms are introducing payment services of their own. 2020 might witness a rush of developers crowding to blockchain and digital assets to develop solutions to satisfy the swelling demand for in-app, real-time micropayments.

There is a rising consumer demographic trend towards a preference for digital wallets. This had led some top banks to offer comprehensive mobile banking applications. While a handful of banks have grown into the digital wallet domain, this vertical is seeing a slow but steady adoption growth.

Cybersecurity will be the topmost priority

The convenience of digital banking is advantageous; however, it also can be misused by hackers leading to cyber thefts. In fact, 70% of breaches take advantage of the end-user as opposed to the bank’s gap in cybersecurity.

Centralization of the data collected through cloud computing and decentralizing its access may help to build more data security layers. Localizing data and avoiding third-party intermediaries will ensure that financial organizations have greater authority over how the data is reported and distributed.

2018 saw cryptocurrencies like bitcoin and ethereum convert from a margin interest to mainstream investment. It was noticed that in a year, the rate of a single bitcoin went from under USD 1,000 to approximately USD 18,000. Some analysts believed that cryptocurrency would substitute the global financial system soon. However, in 2019, the biggest crypto hack occurred when Japanese crypto exchange Coincheck got exhausted of NEM coins worth about USD 534 million.

Software providers will attempt to offer flexible cybersecurity solutions by integrating advanced technologies such as AI and cloud computing, to facilitate swift and reliable threat exposure and alleviation.

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SEO Advantages and Disadvantages

With the advent of internet many things have changed so do the internet marketing. With the growing number of netizens, the marketing world has to invent and discover many new trends of internet marketing. For marketing our products and selling them online, we are supposed to have a website. In order to make it visible for search engines, we need meaningful and quality content, search engines rate a website on the organic links and the content they provide.

First of all we should understand what Search Engine Optimization is and what are SEO benefits?

Search engine optimization means to do certain things for your website to draw more traffic, there are a few things that could be done for increasing the traffic but we will talk about the SEO article writing. This writing is considered as one of the organic means of generating traffic to your website. In this kind of writing, a writer writes his articles around keywords based on search engine results locally or globally. This is the ability and the duty of a content writer to collect information from different authentic sources of the web and streamline it before being dished out. A writer is supposed to make sure that the information is 100% genuine and useful for the visitor in that niche. The content must be free from any kind of plagiarism.

These SEO articles can be published on different article directories with a link to the main website. There are many article directories who charge you for publishing your articles, whereas there are hundreds of the articles directories who don’t charge for using their services of article posting. You can use the free article directories and get SEO benefits. When netizens search for specific keywords, search engine displays a list of websites which are having the related keyword content. After reading the precisely written content, if a visitor is satisfied and he clicks on the link provided with in that article. By this way you will get a visitor, who can be a prospective customer to your online store. So as much traffic these articles will draw towards your website, the higher ranking it will get. Getting traffic is directly proportional to the rating.

To research and analyze further the SEO advantages, a survey was conducted on internet and it shows that a visitor is nearly three times more attracted to the SEO links as compared with the paid advertisements. Other SEO advantages are that SEO is an organic and most profitable means of generating traffic with a low cost of investment. Search Engine Optimization is affordable, it can enhance your online visibility and you will find a noticeable change in your website traffic.

The power of internet is to reach people’s bedroom and on the other side they can visit our online store by sitting in the coziness of their homes. So it would be useless to have an online store, if we don’t get enough traffic. SEO article posting can be the best option to generate right kind of meaningful traffic for your online store.

MM Soft Solution is a small business seo company. Company offers SEO Services at lowest rate.

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How To Control And Lower High Blood Pressure Problem?

High blood pressure, which is medically termed as hypertension, happens when the pressure of blood that flows through the arteries become too high. An estimate states that more than 74 million adults in the United States suffer from this condition. But, the problem here is that many of them do not know that they have this health issue. The reason is the lack of symptoms or failure to get regular blood pressure check up. When this condition remains untreated, it can lead to different issues like stroke, aneurysms, kidney damage, heart disease and many other life-threatening conditions.

Causes: When analyzing the causes, it is found that stress and insomnia are main causes behind this condition. However, there can be other reasons like long-term smoking, alcoholism, inappropriate and unhealthy diet with more salt content as well leading to high blood pressure. Apart from these common reasons, it is found that even healthy individuals, who have donated one of their kidneys, are known to get hypertension after 5 to 10 years.

Symptoms: Many people with this condition will not experience any prominent symptoms and this is why it is recommended that men and women should get their blood pressure level checked at least once in 6 months after 35 years. As it never shows up any symptoms, it is called as silent killer. Even though, some might experience symptoms, they will generally have vague experiences that mimic other illnesses like blurred vision, dizziness and headaches.

Herbal remedy: Like other chemical-based remedies for hypertension, many herbal remedies are also claiming to provide long-term and permanent relief for this condition. So, patients should be highly careful about the selection of the safe herbal supplements effective in controlling hypertension with the help of the best combination of safe herbal ingredients. Here, Stresx capsules can help to control and lower high blood pressure. The effective and ideal thing about this herbal remedy is that it rightly addresses the underlying issues in an effective manner, thereby helping the patients to get safe and long-term relief for their problem.

Natural is ideal: To control and lower high blood pressure, it can be better and safe to rely on natural remedies like Stresx capsules. The reason is that these capsules, apart from addressing the main issue of high BP, will also take care of the effective functioning of many other organs in the body like heart, liver, kidneys and blood vessels to ensure long-lasting effectiveness in keeping blood pressure under check.

What does Stresx capsule includes?

As mentioned earlier, these capsules will help to control and lower high blood pressure naturally and this is due to the effective ingredients like Kesar, Moti Bhasma, Ajwain Khurasani, Gul Chandni, Kahu, Champa, Elaychi Choti, Tuj, Safed Musli, Vacha, Jadwar, Jyothishmati, Chotachand, Aam, Shudh Shilajit, Ganjwan, Ashwagandha, Shankpushpi, Brahmi and Arjun.

All these herbs work towards addressing different underlying causes behind hypertension to control and lower high blood pressure.

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