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Tag: Ask the Expert

Innovation Experts Discuss the State of Fintech

On Aug. 18, 2016, Brandeis GPS hosted a webinar led by Ashley Nagle Eknaian, chair of the new Master of Science in Digital Innovation for FinTech, with Jason Zaler, FinTech Partnerships Lead at PwC. This interesting and interactive discussion helped us celebrate the launch of the program, which is welcoming its first students this fall.

Just voted #36 in Onalytica’s list of top 100 FinTech innovators and brands, Zaler offered valuable insight into the evolving world of FinTech and the many industries impacted by this important technology. Zaler began the discussion by pointing out the many ways that most people use FinTech in everyday life through apps such as Venmo, Square, mobile banking apps, and robo-advice services. Because FinTech’s reach is constantly increasing, Zaler stressed the need to continuously reassess the industry.

“Learning so much about what was happening and seeing how fast it changed drove us to reevaluate the way we deliver insight and consulting,” Zaler said. “It propels us to develop a platform to provide that information to clients in real time.”

Zaler and Eknaian also discussed Fintech’s role in financial service institutions, technology companies, pay networks, and of course, FinTech startups. These groups are all trying to figure out how to best interact with one another to understand and maximize the new technologies available — to create the perfect marriage between financial institutions and technological innovation. The dialogue and new questions springing from these groups constantly draw many into this emerging field.

Competition with FinTech startups
Today in FinTech, some of the most important services exist on the backend of operations that consumers don’t often see. For example, FinTech services are used to clean up bank ledgers.

FinTech startups are essentially disrupters in the industry, knocking out other companies who would otherwise control this back-end technology. In order to help customers, big financial institutions are directly acquiring apps and cutting out big companies, making the process more efficient. As there is a lot of competition in this evolving industry, better products are constantly coming out for people to use on a day-to-day basis.

“It’s really an ecosystem where there’s a lot of movement, a lot of competition,” said Zaler. “The thing to be aware of is that as these companies jockey for a position, there is one benefit to the consumers: better products with better interfaces that you can use in your daily lives.”

Keeping customers through FinTech
Today, banks are working toward keeping their customers from the time they open their first account in college to an eventual retirement. To carry customers through their banking journey, banks now offer FinTech services for each stage of a customer’s experience. Zaler noted that customers today use an average of three to five FinTech products, so banks want to make sure their FinTech app stays on their customers’ phones.

FinTech around the world
FinTech is now a global industry, with major hubs in Silicon Valley, New York, London, Singapore, Israel, Dublin and Scandinavia. Regulations imposed on FinTech companies are what shape each country’s approach to FinTech throughout the globe. While Europe has more regulations that prevent FinTech companies from partnering with banks, the regulatory policies in China focus on making it easier for FinTech products to come to market, which causes major fraud issues and mistrust of these products in potential customers. With 30 percent of FinTech companies now under investigation in China, companies need to convince people they’re trustworthy before they can even begin to directly market their products.

Zaler also went on to discuss the benefits of large financial institutions relying on startups for services. He noted that there are three ways to think about how financial institutions can get FinTech services:

  • Buying them from another provider
  • Partnering with another company
  • Building their own

While many companies do opt to build their own or partner with other companies, often startups are cheap and have already developed the technology the large financial institution is looking for, making it more cost effective to just buy the technology.

This webinar, held in conjunction with the announcement of the new MS in Digital Innovation for FinTech at Brandeis GPS concluded with Zaler giving suggestions of how to stay up to date with FinTech news through following key influencers on Twitter and using the Denovo site, built by his company, PwC.

Ask the Expert series recap with Barbara McNamara

On April 19, we hosted Barbara McNamara, former Deputy Director of the National Security Agency, for our Ask the Expert series. Ms. McNamara captivated us not only with her deep knowledge of the information security industry, but also by her life story and the doors she has opened for other women in technology.

barbara-mcnamara-ask-the-expert

A graduate from Regis College, the Armed Forces Staff College, and the National War College, Barbara McNamara was the first woman named Deputy Director of Operations of the National Security Agency in 1994. In 1997, she became the agency’s Deputy Director and was just the second woman to hold that position. Three years later, she received the U.S. Intelligence Community’s highest award, the National Intelligence Distinguished Service Medal. At the time, she was one of the highest-ranked women in the U.S. intelligence community.

“People have been protecting their communications since the War of Independence”

Following an introduction by Michael Corn, the chair of the MS in Information Security Leadership program at GPS, Ms. McNamara discussed the history of information security in the United States. She talked about the critical role information security played during the World Wars, particularly focusing on advances in cryptography and code-breaking that occurred during World War II. She then covered the NSA’s role in protecting national security during the decades that followed — this period was characterized by a struggle to get information security equipment to field-based members of the military. While Ms. McNamara constantly stressed the importance of defending and protecting information as technology continuously evolves, another running theme from her conversation and concluding Q&A session is that those with a background in information security industry are “very wanted” and valued by many industries within the workforce.

“People in information assurance are about to enter the most exciting and challenging times of their lives.”

Our Ask the Expert event ended with a Q&A that addressed questions ranging from the measures current high-level security agents take while traveling abroad to U.S. preparedness for a cyberwar to Ms. McNamara’s career advancement in a male-dominated field. Ms. McNamara quipped that despite no plans to write a book, the title of her memoir would be “In a Man’s World.”

It was a pleasure to host Ms. McNamara at GPS and we look forward to our next Ask the Expert event.

Watch our Ask the Expert recording here

“Ask the Expert” Special Event Webinar

InfoBubblez22

“Ask the Expert: Cyber Security” 

Led by Matthew Rosenquist, Cybersecurity Strategist and Evangelist at Intel Corporation

Wednesday, October 21st at 7pm via Adobe Connect

Matt’s areas of expertise include :
  • Security industry advocacy
  • Security strategy and planning
  • Security operations management
  • Platform security product/service development and sustaining operations
  • Emergency/Crisis response command, control, and communications
  • Security policy development, training, and compliance oversight
  • M&A information security strategy and management
  • Security product strategic planning
  • Technical and behavioral risk assessment and threat analysis
  • Determination of security business value and ROI
  • Threat Agent Risk Assessment (TARA) methodology
  • Internal and external investigations
  • Corporate consulting for risk management and strategic alignment
  • Security industry outreach, evangelism, speaker, and champion

 

RSVP here

 

MatthewRosenquist-Oct.21Webinar

Matthew Rosenquist joined Intel Corp in 1996 and benefits from over 20 years in the field of security. Mr. Rosenquist specializes in security strategy, measuring value, and developing cost effective capabilities and organizations which deliver the optimal level of security. Currently, a cyber-security strategist for the Intel Security Group, he helped in the formation of this industry leading organization which brings together security across hardware, firmware, software and services.

The community can connect with Matthew via Twitter @Matt_Rosenquist, Intel Blog and LinkedIn.

 

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