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Blockchain Changing the Face of Security as We Know it in the Banking Industry

Blockchain keeps appearing on headlines as one of the most disruptive technologies and has minimized various security-related loopholes in financial transactions. 

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Apac CIOOutlook | Thursday, January 01, 1970

Blockchain keeps appearing on headlines as one of the most disruptive technologies and has minimized various security-related loopholes in financial transactions. Simply put, blockchain is a series of blocks that records data in hash functions with a timestamp and link to the previous block. These blocks are stored anonymously with other stakeholders in the network, eliminating points of vulnerability which cybercriminals can exploit. Every transactional data is verified with all involved stakeholders and the blockchain does not allow previous data to be overwritten.

The technology aims at increasing security and authenticity and reducing the cost of online transactions. This eliminates the need for custodians and payment processors. Deploying blockchain in the IT infrastructure which is used to process digital transactions will benefit consumers immensely. The technology protects user identity and also sensitive records. Keyless security Infrastructure (KSI) stores data on the blockchain and runs a hash algorithm for verification. Any manipulation of data is easily identified as the original hash is already available on other nodes which are linked to the system. This provides banks ways to proceed further asymmetric encryption and caching public keys.

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Blockchain can also play an essential role in providing security to internal communications which face issues like data leaks and cyber hacking. End-to-end encryption often fails to secure metadata and has led to sensitive data leakage. But in blockchain systems, the metadata, which is used in communication is scattered in the distributed ledger and cannot be collected from one single point. The technology has some challenges like regulations and enforcement which are needed to be looked into, but its growing demand and popularity among enterprises will overcome these very soon.

Check out: Top Blockchain Solution Companies

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Machine learning is all set to be the single defining technology of 2018 that would transform the way we live, work or put simply, essentially how we go about our daily lives. Though it is thought to be the thing of the future, machine learning has already entered our lives—in the phones we use, cars we drive, and in the business programs we use at work. An application of Artificial Intelligence (AI) , machine learning equips systems with the ability to learn and improve based on experiences but notably, without being programmed to do so. However, machine learning is not set to take over human labor entirely, instead, it will only augment human capabilities by reducing time to complete tasks, and significantly buttressing people’s decision-making skills. Today, machine learning is transforming customer service, holding the promise for a much better consumer experience . By offering faster and more efficient service, improving customer analytics, enabling continuous improvement through software, creating more personalized experiences, and by preventing identity theft and fraud, machine learning is setting new benchmarks in the technology sphere.    ...Read more

AI and Cloud to Rule Business Intelligence

Data is indispensable for any organization irrespective of its size. Business Intelligence is Business Intelligence is facing a rapid growth with fresh advancements every day. Enterprises are deploying Business Intelligence (BI) to boost data- driven decisions. It is a must for every organization to plan strategies, business roles and leverage technologies that can improve their Business Intelligence approach. Artificial Intelligence is the next new thing in BI. With the entry of Artificial Intelligence in BI, organizations now are optimizing AI to discover trends and big data insights which enables them to make faster decisions and drive effective results. Machine Learning (ML) has become a valuable supplement for the analyst. It helps the analyst to stick to their data run and automates tasks like basic math which are easy yet requires a large labor force. High demand for data access has paved way to cloud BI. Cloud Bi is extremely scalable, where adding new users to any existing cloud BI solution is easy and quick. It is cost- efficient and comes with better mobile accessibility. Since cloud Bi is an internet- based software, it can be easily installed without the necessity of any IT staff. It is gaining popularity because of its simplicity and user- friendly design. According to Gartner “80 percent of organizations are likely to increase their investment in cloud-based products in the coming years”  ...Read more

Evolving Role of Surveillance in Security

Surveillance cameras are commonly perceived as vigilant observers, aimed at deterring crime. In reality, many of these cameras serve a passive function. They primarily act as a deterrent or offer valuable evidence when incidents occur. For instance, if your vehicle is stolen, you often hear, “Check the CCTV footage.” Although they are not constantly actively monitoring, these cameras play a crucial role in promoting safety and providing insights after an event has taken place. This scenario is however changing, and fast. Artificial intelligence is aiding surveillance cameras with the appropriate acumen to help the ‘watchful eyes’ to analyze live video footages, without requiring any human to govern it. This can be highly beneficial for public safety as it would help police and first responders to spot crimes and accidents easily. On the other hand, biometrics, which has remained a part of the security narrative for years now, is maturing evermore rapidly; allowing for retinal scanning, facial recognition, and even sitting posture, heartbeat, and body scent to recognize a human being. The age of privacy may have fallen behind, but security is still something everyone has to consider. Turning at the corner of a new reality, where abundantly available personal information makes it possible for criminals to target practically anyone, one would need to do more than just ‘employ’ the latest in security technology. Alongside, drones, which have been in use in the consumer market for quite some time now, have only recently started to become more common as a method of surveillance and security. Security drones can do everything from snapping pictures of suspicious or illegal activities, to actually chase down and follow potentially dangerous suspects. Some surveillance drones can hit speeds as fast as 50 miles per hour, and may also have the advantage of LED or infrared lights to better capture pictures and video. These new advances suggest public life can still be secure in an increasingly exposed world.  Check out:  Top Drone Technology Companies ...Read more

Strategized SEO for Profit

Online retail businesses need to maintain a lot of pages, making their SEO more complicated and time-consuming. Moreover, these online retailers need to adopt cutting-edge SEO solution for better results as search engines are incessantly regulation their algorithms. It not only optimizing the actual content of a company's website but also external factors such as the quality of the links that are pointing to the website and the company's social media presence. Visitors need to search for products based on a variety of different factors, and every product should come up when searched. Thus retail businesses have pages dedicated to every product that they sell. Companies should always try to obtain one of the top spots in the search engines to increase traffic, gain instant trust and decrease advertising costs. They should include the right keywords in their content, keeping in mind the types of words that people often type in. Companies can take the help of different keyword tools that help figure out which keywords and search phrases people use when they look for the items available in the store. To make it more beneficial, images can be added to the website which helps people get a better idea of what they are buying. Moreover, mages can come with a description and relevant keywords. Creating a more extensive site helps it rank better since search engines tend to favor larger sites over smaller ones. Additional content such as blog posts, interesting articles, or testimonials from past customers can also be included. Product reviews can also be beneficial for helping people find the products that they need. And last but not the least, the website should be mobile friendly and should be shared on as many social media platforms as possible. ...Read more

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