Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, today announced it has entered into a definitive agr

Fiserv to Enhance its Embedded Finance Capability with Acquisition of Payfare Inc. | Business Wire

Across the global landscape, three things are driving payments modernization, <strong>Fiserv</strong>&#x27;s Rossana Thomas told PYMNTS.

Fiserv GM on the Pot of Gold at the End of the ISO Rainbow

Forward, a tech partner that enables SaaS companies to integrate and monetize payments, has successfully raised $16M in seed funding. This round was spearheaded by Commerce Ventures, Elefund, and <strong>Fiserv</strong>. The new capital will help Forward cater to the growing demand from software partners and ...

Forward Secures $16M Seed Funding Led by Commerce Ventures, Elefund, and Fiserv | Financial IT

CBS 58 is your local source for the Milwaukee news, Milwaukee weather, and Milwaukee sports.

CBS 58's Feel Good Fridays: Disney at Fiserv, 'Madame Web' and celebrating owls

FinTech Futures is the leading media and knowledge hub for the worldwide fintech community, providing daily news, in-depth analysis, expert commentary, and intelligence resources across fintech, banking tech, paytech, regtech, wealthtech, lendtech and insurtech.

Sopra Banking Software names ex-Fiserv exec Andrew Steadman as new CPO

Fiserv has teamed up with NCR Atleos to enable consumers to pay utility, phone, cable, and other bills in cash at thousands of ATMs in the US.

Fiserv Integrates NCR Atleos' ATMs

BROOKFIELD, Wis., February 14, 2024--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial technology solutions, is expanding its CheckFreePay® network for in-person bill payment to include the ATM network of NCR Atleos Corporation (NYSE: NATL) ("Atleos"), a leader in ...

Fiserv Expands In-Person Bill Payment Network to NCR Atleos ATMs

Fiserv, Inc. is expanding its CheckFreePay network for in-person bill payment to include the ATM network of NCR Atleos Corporation. Cash-preferred consumers will be able to pay a wide array of...

Fiserv, Inc. Expands In-Person Bill Payment Network to NCR Atleos AtMs -February 14, 2024 at 07:00 am EST | MarketScreener

ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), is pleased to announce the addition of Michael Lindsey as Chief Information and Operations Officer in Birmingham, Alabama. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231101938989/en/

ServisFirst Bank Announces New Chief Information and Operations Officer

Improved user experience. With the release of TOS R23-2, Tufin enhances the end-user experience with several new features and capabilities, making it more efficient for customers to manage their network and cloud security policies. Enhancements include multi-vendor ticket automation and streamlined SecureChange ticket management.

Tufin’s Advanced Visibility and Policy Automation Capabilities Help Enterprises Fully Optimize SASE Approach

Fiserv

fiserv

As the world becomes increasingly digital, businesses across industries—from retail to finance and automotive—must handle massive volumes of data. Whether managing product catalogs, processing telemetry data, or handling financial transactions, the ability to manage and scale real-time data across multiple regions is critical for global operations. One expert leading the way in solving these data management challenges is Amey Banarse, a solutions engineer with over a decade of experience in distributed database technologies. Amey uses his expertise to solve complex data challenges, reduce costs, and improve performance. His work has led to successful collaborations with Fortune 500 enterprises, including global financial institutions like Wells Fargo and Fiserv, large retailers like Kroger, and automotive companies including General Motors, making him a prominent figure in the field. The Challenges of Data Management in the Digital Age Coordinating large amounts of information presents a unique challenge in the modern world. Technological breakthroughs like real-time analytics and machine learning have provided immense benefits, but these advancements also introduce new obstacles, such as the need for low-latency access and maintaining consistent data availability across regions. Amey Banarse shares his insights into overcoming these challenges and the journey that led him to become an expert in the field. Q: Amey, what inspired you to pursue a career in technical solutions engineering? A: My journey began with a Master’s degree from the University of Pennsylvania in 2010. I started my career as a Senior Data Analytics Consultant at Gemini Systems, New York, where I focused on data analytics platforms in the financial services sector. Collaborating with high-profile clients like the New York Stock Exchange (NYSE) to develop solutions and working on high-impact projects sparked my passion for data management. It was during my collaboration with the Financial Industry Regulatory Authority (FINRA) that I truly recognized the critical importance of robust data architecture. Today, as a recognized thought leader in the data industry, I combine deep expertise in distributed systems and cloud-native transactional applications with a commitment to advancing enterprise data innovation. I am honored to contribute to the leading forums like Forbes Technology Council sharing insights through writing, presentations, and thought leadership. My speaking engagements at premier conferences like AWS ReInvent, VMWare Explore, and SpringOne reflect my dedication to shaping industry discourse, from modern data architectures to enterprise data strategies, helping organizations unlock the full potential of their data assets. Q: As industries face the increasing demand for real-time data processing, what challenges are they encountering? A: Today’s businesses, especially in sectors and developing industries like retail, automotive and finance, must manage massive volumes of real-time data while ensuring security and scalability. Challenges include handling traffic surges during peak periods, maintaining data integrity across geographically distributed systems, and providing consistent performance. Failure to address these issues can lead to bottlenecks, data inconsistencies, and operational inefficiencies that significantly impact customer experience and revenue. Q: Can you share your approach to solving these challenges using distributed database technologies? A: Absolutely. I leverage technologies like YugabyteDB, which provides the capability to handle high-throughput transactions, maintain strong consistency, and support multi-region deployments. My focus is on designing data architecture that integrates distributed databases with cloud-native platforms, ensuring real-time data is accessible and reliable across different locations. Collaborating with engineering teams, I implement rigorous testing under simulated high-traffic conditions and fine-tune systems for optimal performance. Q: Could you elaborate on a specific project where you implemented these solutions? A: One notable project was with a global retailer managing over 300 million products. They needed a scalable system to ensure real-time data access during peak shopping periods and ensure there was no downtime during the deals and product launch days. I led the team and implemented a scalable architecture solution using YugabyteDB, which not only reduced their total cost of ownership by over $10 million but also ensured consistent high-performance operations during critical shopping seasons. This solution provides a seamless end-customer experience during the peak holiday season, which increases customer loyalty and the retailer’s brand recognition. Q: Could you elaborate on a specific project where you implemented these solutions? A: One notable project was with a global retailer managing over 300 million products. They needed a scalable system to ensure real-time data access during peak shopping periods and ensure there was no downtime during the deals and product launch days. I led the team and implemented a scalable architecture solution using YugabyteDB, which not only reduced their total cost of ownership by over $10 million but also ensured consistent high-performance operations during critical shopping seasons. This solution provides a seamless end-customer experience during the peak holiday season, which increases customer loyalty and the retailer’s brand recognition. Q: You also worked with General Motors. What challenges did they face, and how did you help them? A: General Motors’ connected car platform plays a critical role in supporting its new services by collecting and leveraging data from over 20 million connected vehicles. The platform powers features such as vehicle health tracking, remote starts, and road condition reporting through GM mobile apps and OnStar. However, the existing database powering this platform, Apache Cassandra, was becoming a bottleneck. It resulted in high operational costs, limited scalability, and performance issues, especially during peak demand. I worked closely with their technical leadership to redesign the system architecture, which can process vast amounts of telemetry data in real-time, maintain consistency, and scale efficiently. I also led the migration from Apache Cassandra to YugabyteDB. This migration resulted in a tenfold improvement in scalability and performance, enabling the system to handle up to three million writes per second while significantly reducing hardware footprint and operational costs. This transformation allowed GM to enhance its connected vehicle services and deliver a superior customer experience. Q: Can you provide an example of how you helped a financial services customer modernize their data systems? A: A significant case was when I collaborated with senior technical leadership of a large financial services company in migrating from a legacy IBM DB2 mainframe to a modern, scalable system to support a retail portfolio dashboard. By leading the transition to YugabyteDB, I established a resilient architecture that not only reduced the total cost of ownership but also improved the end customer experience. The successful migration allowed live user onboarding, creating a flexible and reliable system supporting future growth. This enabled the company to meet its primary goals of migrating away from the mainframe and leveraging cloud-native databases, which can be deployed on cloud and hybrid commodity architectures. It also helped with improved productivity—rather than being slowed down by waiting for provisioning and maintenance of DB2 on the mainframe, the application team can quickly deploy YugabyteDB anywhere, and it automatically scales as needed. Q: Your achievements in this field are impressive. What drives you to continue pushing boundaries? A: I’m motivated by the impact that scalable data platform solutions can have on mission-critical applications that power businesses and society. Leading high-profile projects on behalf of YugabyteDB, like designing a scalable platform for the Super Bowl 2024 streaming event, has been incredibly rewarding. The ability to deliver a high-quality streaming experience to over 125 million viewers underscores the importance of scalable, resilient systems in today’s interconnected world. Q: What is your vision for the future of data management? A: I believe the ingenuity of technical solutions engineers like myself is crucial for a better-connected world. As industries evolve and the demand for real-time data continues to surge, developing innovative solutions that enable organizations to scale effectively is essential. I aim to lead this charge, ensuring businesses can meet their data challenges head-on and drive success through intelligent data management strategies. Amey Banarse’s ability to architect scalable, resilient systems has allowed these businesses to modernize and handle real-time data at unprecedented scales. His expertise in distributed database technologies is shaping the future of data management and paving the way for organizations to thrive in an increasingly data-driven landscape. As the world becomes increasingly digital, businesses across industries—from retail to finance and automotive—must handle massive volumes of data. Whether managing product catalogs, processing telemetry data, or handling financial transactions, the ability to manage and scale real-time data across multiple regions is critical for global operations. One expert leading the way in solving these data management challenges is Amey Banarse, a solutions engineer with over a decade of experience in distributed database technologies. Amey uses his expertise to solve complex data challenges, reduce costs, and improve performance. His work has led to successful collaborations with Fortune 500 enterprises, including global financial institutions like Wells Fargo and Fiserv, large retailers like Kroger, and automotive companies including General Motors, making him a prominent figure in the field. The Challenges of Data Management in the Digital Age The Challenges of Data Management in the Digital Age Coordinating large amounts of information presents a unique challenge in the modern world. Technological breakthroughs like real-time analytics and machine learning have provided immense benefits, but these advancements also introduce new obstacles, such as the need for low-latency access and maintaining consistent data availability across regions. Amey Banarse shares his insights into overcoming these challenges and the journey that led him to become an expert in the field. Q: Amey, what inspired you to pursue a career in technical solutions engineering? Q: Amey, what inspired you to pursue a career in technical solutions engineering? A : My journey began with a Master’s degree from the University of Pennsylvania in 2010. I started my career as a Senior Data Analytics Consultant at Gemini Systems, New York, where I focused on data analytics platforms in the financial services sector. Collaborating with high-profile clients like the New York Stock Exchange (NYSE) to develop solutions and working on high-impact projects sparked my passion for data management. It was during my collaboration with the Financial Industry Regulatory Authority (FINRA) that I truly recognized the critical importance of robust data architecture. Today, as a recognized thought leader in the data industry, I combine deep expertise in distributed systems and cloud-native transactional applications with a commitment to advancing enterprise data innovation. I am honored to contribute to the leading forums like Forbes Technology Council sharing insights through writing, presentations, and thought leadership. My speaking engagements at premier conferences like AWS ReInvent, VMWare Explore, and SpringOne reflect my dedication to shaping industry discourse, from modern data architectures to enterprise data strategies, helping organizations unlock the full potential of their data assets. A Q: As industries face the increasing demand for real-time data processing, what challenges are they encountering? Q: As industries face the increasing demand for real-time data processing, what challenges are they encountering? A : Today’s businesses, especially in sectors and developing industries like retail, automotive and finance, must manage massive volumes of real-time data while ensuring security and scalability. Challenges include handling traffic surges during peak periods, maintaining data integrity across geographically distributed systems, and providing consistent performance. Failure to address these issues can lead to bottlenecks, data inconsistencies, and operational inefficiencies that significantly impact customer experience and revenue. A Q: Can you share your approach to solving these challenges using distributed database technologies? Q: Can you share your approach to solving these challenges using distributed database technologies? A : Absolutely. I leverage technologies like YugabyteDB , which provides the capability to handle high-throughput transactions, maintain strong consistency, and support multi-region deployments. My focus is on designing data architecture that integrates distributed databases with cloud-native platforms, ensuring real-time data is accessible and reliable across different locations. Collaborating with engineering teams, I implement rigorous testing under simulated high-traffic conditions and fine-tune systems for optimal performance. A YugabyteDB YugabyteDB Q: Could you elaborate on a specific project where you implemented these solutions? Q: Could you elaborate on a specific project where you implemented these solutions? A : One notable project was with a global retailer managing over 300 million products. They needed a scalable system to ensure real-time data access during peak shopping periods and ensure there was no downtime during the deals and product launch days. I led the team and implemented a scalable architecture solution using YugabyteDB, which not only reduced their total cost of ownership by over $10 million but also ensured consistent high-performance operations during critical shopping seasons. This solution provides a seamless end-customer experience during the peak holiday season, which increases customer loyalty and the retailer’s brand recognition. A Q: Could you elaborate on a specific project where you implemented these solutions? Q: Could you elaborate on a specific project where you implemented these solutions? A : One notable project was with a global retailer managing over 300 million products. They needed a scalable system to ensure real-time data access during peak shopping periods and ensure there was no downtime during the deals and product launch days. I led the team and implemented a scalable architecture solution using YugabyteDB, which not only reduced their total cost of ownership by over $10 million but also ensured consistent high-performance operations during critical shopping seasons. This solution provides a seamless end-customer experience during the peak holiday season, which increases customer loyalty and the retailer’s brand recognition. A Q: You also worked with General Motors. What challenges did they face, and how did you help them? Q: You also worked with General Motors. What challenges did they face, and how did you help them? A: General Motors’ connected car platform plays a critical role in supporting its new services by collecting and leveraging data from over 20 million connected vehicles . The platform powers features such as vehicle health tracking, remote starts, and road condition reporting through GM mobile apps and OnStar. However, the existing database powering this platform, Apache Cassandra, was becoming a bottleneck. It resulted in high operational costs, limited scalability, and performance issues, especially during peak demand. I worked closely with their technical leadership to redesign the system architecture, which can process vast amounts of telemetry data in real-time, maintain consistency, and scale efficiently. I also led the migration from Apache Cassandra to YugabyteDB. This migration resulted in a tenfold improvement in scalability and performance, enabling the system to handle up to three million writes per second while significantly reducing hardware footprint and operational costs. This transformation allowed GM to enhance its connected vehicle services and deliver a superior customer experience. A: 20 million connected vehicles 20 million connected vehicles Q: Can you provide an example of how you helped a financial services customer modernize their data systems? Q: Can you provide an example of how you helped a financial services customer modernize their data systems? A : A significant case was when I collaborated with senior technical leadership of a large financial services company in migrating from a legacy IBM DB2 mainframe to a modern, scalable system to support a retail portfolio dashboard. By leading the transition to YugabyteDB, I established a resilient architecture that not only reduced the total cost of ownership but also improved the end customer experience. The successful migration allowed live user onboarding, creating a flexible and reliable system supporting future growth. This enabled the company to meet its primary goals of migrating away from the mainframe and leveraging cloud-native databases, which can be deployed on cloud and hybrid commodity architectures. It also helped with improved productivity—rather than being slowed down by waiting for provisioning and maintenance of DB2 on the mainframe, the application team can quickly deploy YugabyteDB anywhere, and it automatically scales as needed. A Q: Your achievements in this field are impressive. What drives you to continue pushing boundaries? Q: Your achievements in this field are impressive. What drives you to continue pushing boundaries? A : I’m motivated by the impact that scalable data platform solutions can have on mission-critical applications that power businesses and society. Leading high-profile projects on behalf of YugabyteDB, like designing a scalable platform for the Super Bowl 2024 streaming event, has been incredibly rewarding. The ability to deliver a high-quality streaming experience to over 125 million viewers underscores the importance of scalable, resilient systems in today’s interconnected world. A Q: What is your vision for the future of data management? Q: What is your vision for the future of data management? A : I believe the ingenuity of technical solutions engineers like myself is crucial for a better-connected world. As industries evolve and the demand for real-time data continues to surge, developing innovative solutions that enable organizations to scale effectively is essential. I aim to lead this charge, ensuring businesses can meet their data challenges head-on and drive success through intelligent data management strategies. A Amey Banarse’s ability to architect scalable, resilient systems has allowed these businesses to modernize and handle real-time data at unprecedented scales. His expertise in distributed database technologies is shaping the future of data management and paving the way for organizations to thrive in an increasingly data-driven landscape.

How Distributed Databases Power Mission-Critical Business Apps: A Case Study with Amey Banarse

Hoe verspreide databasisse missie-kritiese besigheidsprogramme bemagtig: 'n gevallestudie met Amey Banarse

Hvordan distribuerede databaser driver Mission-Critical Business Apps: A Case Study med Amey Banarse

Cómo las bases de datos distribuidas potencian las aplicaciones empresariales de misión crítica: un estudio de caso con Amey Banarse

分散データベースがミッションクリティカルなビジネスアプリを強化する方法: Amey Banarse のケーススタディ

Како се дистрибуирани базите на податоци моќни мисија-критични деловни апликации: студија на случај со Ејми Банарсе

Bagaimana Pangkalan Data Teragih Menguasakan Aplikasi Perniagaan Misi-Kritis: Kajian Kes dengan Amey Banarse

Jak rozproszone bazy danych zasilają aplikacje biznesowe o znaczeniu krytycznym: studium przypadku z Amey Banarse

Как распределенные базы данных поддерживают критически важные бизнес-приложения: пример с Эми Банарсе

Mafambisirwo Akaitwa Databases Power Mission-Critical Business Apps: Nyaya Yekudzidza naAmey Banarse

எப்படி விநியோகிக்கப்படும் தரவுத்தளங்கள் பவர் மிஷன்-கிரிட்டிகல் பிசினஸ் ஆப்ஸ்: அமே பனார்ஸுடன் ஒரு வழக்கு ஆய்வு

Чӣ гуна пойгоҳи додаҳои тақсимшуда Барномаҳои миссияи муҳими тиҷоратӣ: Омӯзиши мисол бо Ами Банарсе

ከመይ ጌሮም ዝተዘርግሑ ዳታቤዛት ንተልእኾ-ወሳኒ ንግዳዊ ኣፕስ ሓይሊ ይህቡ: መጽናዕቲ ፍጻመ ምስ ኣመይ ባናርሰ

ATLANTA, Georgia, October 30th, 2024/CyberNewsWire/--White House National Cyber Director, CEOs, Key Financial Services Companies, Congressional and Executive Branch Experts will discuss industry priorities for 2025 and beyond The American Transaction Processors Coalition (ATPC) Cyber Council will convene “The Tie that Binds: A 21st Century Cybersecurity Dialogue,” on October 31, 2024, at the Bank of America Financial Center Tower’s Convention Hall in Atlanta. This event will feature leading cyber experts from the financial services sector, Federal agencies, the White House, and Congress to focus on pressing cybersecurity issues and ways the financial services sector is addressing these issues. It will include discussions on evolving technologies that will influence the path forward, the role of AI, supply chain security needs, and more. “Cybersecurity is the backbone of the payment processing industry,” said H. West Richards, ATPC executive director. “The work of the ATPC Cyber Council is a testament to our commitment to safeguarding our financial ecosystem and fostering a collaborative approach to tackling the cybersecurity challenges of tomorrow.” Key Speakers and Highlights: The Honorable Harry Coker, Jr., White House National Cyber Director, will deliver the luncheon keynote.
The Honorable Rich McCormick (R-GA-06) will deliver a keynote address.
Moira Bergin, Subcommittee on Cybersecurity Staff Director, House Committee on Homeland Security, will discuss legislative priorities and global cybersecurity risks.
The Honorable Andre Dickens, Mayor of Atlanta, will provide a video address.
Barry McCarthy, CEO of Deluxe and Chair of the ATPC Board of Directors, will also deliver a keynote.
Bridgette Walsh, Executive Director of the Financial Services Sector Coordinating Council, and Josh Magri, Founder & CEO of Cyber Risk Institute, will participate in a fireside discussion on private sector best practices.
A panel on AI in financial services will feature Clarissa Banks (Deluxe), David Excell (Featurespace), David King (Mastercard), and Donna Teevens (ACI Worldwide), moderated by Rick Van Luvender.
A panel on cyber education will include Dr. Tony Coulson (CSUSB), Dr. Albena Asenova-Belal (Gwinnett Technical College), Dr. Humayun Zafar (Kennesaw State University), and Dr. Michael Nowatkowski (Augusta University).
H. West Richards, ATPC Executive Director, will open the event with a welcome address.
Rick Van Luvender, ATPC Cyber Council Chair & SVP, Head of Cybersecurity Client Trust & International Cybersecurity Service at Fiserv, will deliver the opening remarks.
Norma Krayem, ATPC Cyber Council Director & Vice President, Chair of the Cybersecurity, Privacy & Digital Innovation Practice Group at Van Scoyoc Associates, will provide insights on future cybersecurity trends. The forum will conclude with a fireside chat focused on “A Look to the Future: 2025: Top Cybersecurity and Critical Technology Priorities for the ATPC Cyber Council,” featuring Rick Van Luvender from Fiserv and Norma Krayem, the ATPC Cyber Council director, focusing on future cybersecurity and critical technology priorities. Conference details are available at https://atpcoalition.com/atpc-cyber-forum/. ATPC is a leading voice for America’s payments processors, consisting of the world’s largest, global payment processors, banks, credit card companies and financial services companies. ATPC member companies are uniquely positioned to ensure global payments move seamlessly across the world, while empowering broader and more diverse participation within the financial services system. In the race for a better tomorrow, technology solutions can advance faster than companies can keep up with cybersecurity risks. As a result, the ATPC is one of the few coalitions that created a standalone Cybersecurity Council to prioritize these key cybersecurity issues across its member companies. The ATPC Cyber Council is a unique group made up of only CISOs, CSOs, CIOs and CTOs who are on the front lines every day dealing with the operational impacts of cybersecurity. These U.S. based companies serve hundreds of millions of customer businesses across the globe daily and process hundreds of billions of transactions per year. About the ATPC The ATPC is a leading voice for America’s payments processors, driving awareness of the industry and its value to consumers, businesses, and the economy with legislators and regulators at federal, state, and international levels. The ATPC is rooted in Georgia’s Transaction Alley where electronic payments and the fintech industry began. Yet, our members enable payments in states across the nation and in every corner of the globe. The ATPC has a rich history of economic development, thought leadership, and engagement on legislative and regulatory topics like cybersecurity, privacy, financial inclusion, fraud, as well as emerging themes like open banking, AI, and stable coins. About the ATPC Cyber Council The American Transaction Processors Coalition (ATPC) established a dedicated Cyber Council to galvanize the efforts of the ATPC member companies in addressing cybersecurity risks. The Cyber Council’s mission is to identify best practices and areas of shared risk to help ATPC members address the evolving cyber threat across America’s payments processing system to strengthen industry’s ability to identify, protect, detect, respond to and recover from cyberattacks. Contact Alison Watson Golin awatson@golin.com This story was distributed as a release by Cybernewswire under HackerNoon’s Business Blogging Program. Learn more about the program here ATLANTA, Georgia, October 30th, 2024/CyberNewsWire/--White House National Cyber Director, CEOs, Key Financial Services Companies, Congressional and Executive Branch Experts will discuss industry priorities for 2025 and beyond The American Transaction Processors Coalition (ATPC) Cyber Council will convene “The Tie that Binds: A 21st Century Cybersecurity Dialogue,” on October 31, 2024, at the Bank of America Financial Center Tower’s Convention Hall in Atlanta. This event will feature leading cyber experts from the financial services sector, Federal agencies, the White House, and Congress to focus on pressing cybersecurity issues and ways the financial services sector is addressing these issues. It will include discussions on evolving technologies that will influence the path forward, the role of AI, supply chain security needs, and more. “Cybersecurity is the backbone of the payment processing industry,” said H. West Richards, ATPC executive director. “The work of the ATPC Cyber Council is a testament to our commitment to safeguarding our financial ecosystem and fostering a collaborative approach to tackling the cybersecurity challenges of tomorrow.” “Cybersecurity is the backbone of the payment processing industry,” said H. West Richards, ATPC executive director. “The work of the ATPC Cyber Council is a testament to our commitment to safeguarding our financial ecosystem and fostering a collaborative approach to tackling the cybersecurity challenges of tomorrow.” Key Speakers and Highlights: The Honorable Harry Coker, Jr., White House National Cyber Director, will deliver the luncheon keynote. The Honorable Rich McCormick (R-GA-06) will deliver a keynote address. Moira Bergin, Subcommittee on Cybersecurity Staff Director, House Committee on Homeland Security, will discuss legislative priorities and global cybersecurity risks. The Honorable Andre Dickens, Mayor of Atlanta, will provide a video address. Barry McCarthy, CEO of Deluxe and Chair of the ATPC Board of Directors, will also deliver a keynote. Bridgette Walsh, Executive Director of the Financial Services Sector Coordinating Council, and Josh Magri, Founder & CEO of Cyber Risk Institute, will participate in a fireside discussion on private sector best practices. A panel on AI in financial services will feature Clarissa Banks (Deluxe), David Excell (Featurespace), David King (Mastercard), and Donna Teevens (ACI Worldwide), moderated by Rick Van Luvender. A panel on cyber education will include Dr. Tony Coulson (CSUSB), Dr. Albena Asenova-Belal (Gwinnett Technical College), Dr. Humayun Zafar (Kennesaw State University), and Dr. Michael Nowatkowski (Augusta University). H. West Richards, ATPC Executive Director, will open the event with a welcome address. Rick Van Luvender, ATPC Cyber Council Chair & SVP, Head of Cybersecurity Client Trust & International Cybersecurity Service at Fiserv, will deliver the opening remarks. Norma Krayem, ATPC Cyber Council Director & Vice President, Chair of the Cybersecurity, Privacy & Digital Innovation Practice Group at Van Scoyoc Associates, will provide insights on future cybersecurity trends. The Honorable Harry Coker, Jr., White House National Cyber Director, will deliver the luncheon keynote. The Honorable Rich McCormick (R-GA-06) will deliver a keynote address. Moira Bergin, Subcommittee on Cybersecurity Staff Director, House Committee on Homeland Security, will discuss legislative priorities and global cybersecurity risks. The Honorable Andre Dickens, Mayor of Atlanta, will provide a video address. Barry McCarthy, CEO of Deluxe and Chair of the ATPC Board of Directors, will also deliver a keynote. Bridgette Walsh, Executive Director of the Financial Services Sector Coordinating Council, and Josh Magri, Founder & CEO of Cyber Risk Institute, will participate in a fireside discussion on private sector best practices. A panel on AI in financial services will feature Clarissa Banks (Deluxe), David Excell (Featurespace), David King (Mastercard), and Donna Teevens (ACI Worldwide), moderated by Rick Van Luvender. A panel on cyber education will include Dr. Tony Coulson (CSUSB), Dr. Albena Asenova-Belal (Gwinnett Technical College), Dr. Humayun Zafar (Kennesaw State University), and Dr. Michael Nowatkowski (Augusta University). H. West Richards, ATPC Executive Director, will open the event with a welcome address. Rick Van Luvender, ATPC Cyber Council Chair & SVP, Head of Cybersecurity Client Trust & International Cybersecurity Service at Fiserv, will deliver the opening remarks. Norma Krayem, ATPC Cyber Council Director & Vice President, Chair of the Cybersecurity, Privacy & Digital Innovation Practice Group at Van Scoyoc Associates, will provide insights on future cybersecurity trends. The forum will conclude with a fireside chat focused on “A Look to the Future: 2025: Top Cybersecurity and Critical Technology Priorities for the ATPC Cyber Council,” featuring Rick Van Luvender from Fiserv and Norma Krayem, the ATPC Cyber Council director, focusing on future cybersecurity and critical technology priorities. Conference details are available at https://atpcoalition.com/atpc-cyber-forum/. https://atpcoalition.com/atpc-cyber-forum/. https://atpcoalition.com/atpc-cyber-forum/. ATPC is a leading voice for America’s payments processors, consisting of the world’s largest, global payment processors, banks, credit card companies and financial services companies. ATPC member companies are uniquely positioned to ensure global payments move seamlessly across the world, while empowering broader and more diverse participation within the financial services system. In the race for a better tomorrow, technology solutions can advance faster than companies can keep up with cybersecurity risks. As a result, the ATPC is one of the few coalitions that created a standalone Cybersecurity Council to prioritize these key cybersecurity issues across its member companies. The ATPC Cyber Council is a unique group made up of only CISOs, CSOs, CIOs and CTOs who are on the front lines every day dealing with the operational impacts of cybersecurity. These U.S. based companies serve hundreds of millions of customer businesses across the globe daily and process hundreds of billions of transactions per year. About the ATPC The ATPC is a leading voice for America’s payments processors, driving awareness of the industry and its value to consumers, businesses, and the economy with legislators and regulators at federal, state, and international levels. ATPC ATPC The ATPC is rooted in Georgia’s Transaction Alley where electronic payments and the fintech industry began. Yet, our members enable payments in states across the nation and in every corner of the globe. The ATPC has a rich history of economic development, thought leadership, and engagement on legislative and regulatory topics like cybersecurity, privacy, financial inclusion, fraud, as well as emerging themes like open banking, AI, and stable coins. About the ATPC Cyber Council The American Transaction Processors Coalition (ATPC) established a dedicated Cyber Council to galvanize the efforts of the ATPC member companies in addressing cybersecurity risks. American Transaction Processors Coalition (ATPC) American Transaction Processors Coalition (ATPC) The Cyber Council’s mission is to identify best practices and areas of shared risk to help ATPC members address the evolving cyber threat across America’s payments processing system to strengthen industry’s ability to identify, protect, detect, respond to and recover from cyberattacks. Contact Alison Watson Golin awatson@golin.com This story was distributed as a release by Cybernewswire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Cybernewswire under HackerNoon’s Business Blogging Program. Learn more about the program here here

ATPC Cyber Forum To Focus On Next Generation Cybersecurity And Artificial Intelligence Issues

ATPC Kiberforumu növbəti nəsil kibertəhlükəsizlik və süni intellekt məsələlərinə diqqət yetirəcək

Το ATPC Cyber Forum θα επικεντρωθεί σε ζητήματα κυβερνοασφάλειας και τεχνητής νοημοσύνης επόμενης γενιάς

El Foro Cibernético ATPC se centrará en cuestiones de ciberseguridad e inteligencia artificial de próxima generación

ATPC Cyber Forum para centrarse en cuestións de ciberseguridade e intelixencia artificial de próxima xeración

ATPC Cyber Forum fokusirat će se na kibernetičku sigurnost sljedeće generacije i pitanja umjetne inteligencije

ATPC Cyber Forum Pou Konsantre sou Pwochen Jenerasyon Sibèsekirite ak Pwoblèm Entèlijans Atifisyèl

ATPC サイバーフォーラム、次世代サイバーセキュリティと人工知能の問題に焦点を当てる

វេទិកា ATPC Cyber Forum ដើម្បីផ្តោតលើបញ្ហាសុវត្ថិភាពតាមអ៊ីនធឺណិតជំនាន់ក្រោយ និងបញ្ហាបញ្ញាសិប្បនិម្មិត

ATPC kibernetinis forumas, skirtas naujos kartos kibernetinio saugumo ir dirbtinio intelekto problemoms

د ATPC سایبر فورم به د راتلونکي نسل سایبر امنیت او مصنوعي استخباراتو مسلو باندې تمرکز وکړي

ATPC Cyber Foramu Yekutarisa Pane Inotevera Generation Cybersecurity Uye Artificial Intelligence Nyaya

ATPC Cyber Forum ኣብ ቀፃሊ ወለዶ ሳይበር ሴኩሪቲን ኣርቲፊሻል ኢንተለጀንስን ጉዳያት ትኹረት ክገብር እዩ።

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The growing popularity of online banking as well as modern payment systems such as Revolut, N26, and Monzo suggests that traditional banking may be moving towards its demise. On the one hand, more than 50% of consumers still performed monthly visits to physical bank offices with 80% of them making at least one such visit within the 6 months preceding the . Fiserv survey However, this trend may be partially supported by older baby boomer audiences who do not feel at ease with smartphone applications and other remote banking instruments. On the other hand, major practitioners including Citibank are reducing their physical presence at an alarming rate moving away from brick-and-mortar branches. This article considers a number of trends in the financial industry to identify if we are getting close to the death of traditional banking. Perceived Trustworthiness The most widespread sphere of criticism for modern fintech companies is their lack of ‘tangibility’ making them appear than brick-and-mortar banks and more prone to ‘disappear into thin air’. Several stories on Reddit and other resources describe this problem citing the inability to reach the outsourced customer support, quickly react to the emerging issue to stop the fraudulent transfer of money, and the slow response of these organizations to both customer and police requests. less reliable Considering the fact that a smartphone app may be the only contact you have with the bank, this further exposes you to the risk of losing access to all your money in the case of any technical problems, the loss or theft of your smartphone, or the inability to log into your account. This is a highly concerning sign considering the fact that many mobile payment providers do not have internal call centers and may not be available via voice calls on a 24/7 basis. Technological Aptitude The above-mentioned problems may seem insignificant considering the rates of operational and shown by major physical banks. Large brick-and-mortar organizations including the Bank of Scotland, Lloyds, and Barclays have all reported 30+ significant breaches across their internal systems per month. security issues While born-digital mobile systems were originally created in the age of blockchain technologies, full anonymity, and cashless transactions, their traditional counterparts had to teach themselves these skills to survive the competition. In many cases, their old systems fail to learn new tricks and may be seen as clumsy and outdated by younger digital-native audiences. Many of them also lack the transparency of their modern counterparts that update you about any issues via multiple social media profiles and make it a rule to respond to your questions on Instagram or Twitter within one hour. Costs of Use Most proponents of modern technologies cite lower costs of use as one of the main benefits of modern solutions for mobile payments. N26, TransferWise, and Revolut charge you £0 for issuing and using their cards and 2% on the average for transferring money to anywhere in the world. All transfers occur instantly and you do not have to pay any fees when you are not using their services. On the contrary, most physical banks charge substantially higher payment processing fees for inter-bank transactions while processing periods may amount to 2-3 days in some cases. This also disrupts the retail industry since many organizations in it do not want to pay the ever-increasing charges for all check-out operations performed with banking cards. Lifestyle Integration An avid iPhone user is generally more willing to buy the ‘Created by Apple, not a bank’ Apple Card rather than the actual Goldman Sachs product being sold under this name. The Web 3.0 environment we all live in implies that our social media profiles may be more trustworthy and traceable than the documents provided by us to a bank branch. This is well understood by major brands including Facebook that add the capability to send and receive money directly to their instant messaging chats. When a friend in need is asking you for a $100 pre-salary loan, it is more logical to make this transfer from the same app rather than switch to a third-party interface or make a live visit to your bank. Even in the case of fraudulent scam attempts, digital payment methods such as PayPal generally offer better customer protection than traditional banks that may spend months considering your chargeback request. Ease of Use Most people agree that opening a digital app or a website live chat has become substantially more convenient than driving to your bank office during its working hours on a rainy day. However, this obvious factor is trickier than it looks. On the one hand, small mobile payments are easier to perform via the online systems created by . Moreover, you only need your phone to use them and they do not prohibit transactions if you forgot your passport or your driving license at home earlier this morning. modern fintech companies On the other hand, traditional thinking still suggests that brick-and-mortar storefronts may be more suitable for making ‘more serious’ transactions. Complex life choices such as opening a long-term deposit or making a mortgage payment of several thousand dollars to your real estate developer are usually associated with the need for physical contact and confirmation from the bank. Modern financial institutions are well aware of these preconceptions, which explains the transformation of their brick-and-mortar storefront facilities into open-space zones with coffee shops, coworking spaces aimed at small businesses, and regularly organized entrepreneurial fairs. The interesting part of the competition between modern services and traditional banks is its almost Hegelian dialectic. The new competitors highlight the disadvantages of their predecessors that criticize their own flaws and develop synthetic solutions combining the strong points of physical and online-based banking. At the moment, the death of traditional services may not be in sight since most people prefer to experiment with new technologies as a ‘second card’ for convenient mobile payments and international money transfers rather than a ‘core’ all-purpose solution. However, the advancement of fintech start-ups and their acquisition of specialized bank licenses will inevitably allow them to offer a wider range of offerings including deposits and consumer credits. This extra step may give them the leverage to fully disrupt the financial industry and bring an end to physical banking services.

Mobile Payments Systems: How Close Is the Death of Physical Banking?  

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Fintech represents the collision of two worlds — Financial services and technology, and with this union comes, both disruption and synergies. Fintech came of age in the aftermath of the 2008 financial crisis. New regulations and changing consumer demands began to emerge as the world tried to pick up the pieces of the “great recession”. 2008–18 constituted the formative decade for FinTech ‘Wave-1’, which irreversibly set the foundation for Wave-2 (2019 >onwards). . More innovation will happen in the next 10 years than the previous 100 years Asia is the epicenter of all fintech innovation, and within Asia, Singapore, and India, in particular, have taken big and bold moves towards the development of its FinTech landscape. There are three key takeaways from FinTech Wave-1 and what it means for India and Southeast Asia. China is the real fintech story, and that success story is divided between WeChat and Alipay. China has shown the world what is , and the world can’t go back. 1. possible There are also some hiccups in this journey, during 2018, the in China’s $192 B peer-to-peer (P2P) lending industry accelerated at a rapid clip. In many ways, this is a step in the right direction towards industry standardization/clean-up. shakeout regulatory crackdown Chinese fintech ecosystems have scaled and innovated faster and are structurally different from their counterparts in the US and Europe. Outside China, the most successful fin-techs are typically attackers that have focused on one vertical, such as payments, lending, or wealth management, deepening their core offering and then expanding geographically. The payment-wallets in Asia (*ex-china) continue to face ‘the moment of truth. The opportunity is HUGE. In India & Indonesia, 90%+ microtransactions are still ‘CASH’ based. is an extraordinary success in India. 2. The challenge remains. UPI ASEAN countries are a very and heterogeneous ecosystem. Situational awareness is critical to “win the game.” unique Lending is/was a ‘hot favorite’ for India and SE-Asia. The opportunity is MASSIVE, but some apparent mistakes are being made. The size/scale of alt-lenders is minuscule (%TAM) right now. 3. Startups trying to copy the China model will be disappointed. The marketplace/aggregators in the lending business face an uphill task. Debt Collections will get a big focus in the coming months. Alt-lenders should “read the tea leaves” and understand some unique factors, For e.g. the in India. [ ] banking crisis 1 A CLOSER LOOK AT THE SIX SECTORS IN WAVE-1 Fintechs have seized the initiative — defining the direction, shape, and pace of innovation across almost every subsector of financial services — and have succeeded as both stand‐alone businesses and crucial parts of financial value chains. They have reshaped customer expectations, setting new and higher bars for user experience. Let’s take a closer look: 1) Alt-lending The transactional and commodity nature of lending is making it hard, therefore, the investment community re-rated some startups from technology companies to lending companies. Moving forward, only the companies that can build profitable and scalable business-ecosystem models, and can withstand the test of a will lead the new wave. credit-cycle 2) Payments The original disruptors have gotten to scale and their playbook is changing. Rapid e-commerce growth, the digitization of payments, enabling regulations, are causing rapid growth of payment companies in Asia. that has seen Asia-Pacific accounting for nearly more than half of global payments revenue growth in the world at more than $900 billion. A growth Also, the market is in a consolidation phase, signaled by Fiserv Inc.’s planned $22 billion of First Data Corp and Fidelity National’s $43 billion of WorldPay Inc. purchase acquisition 3) Insurance Insurance startups are really at a pivot right now. Fast growth is leading to full-stack solutions. Historically, insurance startups were simply brokers or managing general agents. There’s a compelling case that insurance-tech startups need to become carriers. However, the ROE for carriers tends to be low(~9%). Insurance-tech players will need to figure this out. 4) P2P Lending Many peer-to-peer (P2P) lending companies — among the earliest to list in the US — saw valuations drop drastically in the public market. A number of Chinese lending fintechs, listed on the NYSE and Nasdaq in 2017, are trading much lower than their IPO prices, driven by . reports of bad loans and stringent regulations in China Accountability and better governance are critical for P2P lending to potential. truly hit its Understated risks, maturity mismatches, and illegal practices have to be addressed to restore faith and prove the viability of the business. 5) Wealth Tech One of the more interesting trends right now is that all the Wealth and investment companies that have achieved scale are adding a checking account and trying to become banks. Not necessarily licensed banks, but rather, a consumer’s primary financial partner. Chinese wealth-tech companies have proven that the — is winning operating model “a platform for your whole financial life”. Asia-Pacific is the world’s largest wealth management market, with >US$61 trillion in assets — bigger than the US or Europe — and growing at 3x the rate of the rest of the world. However, for markets like India and Indonesia, The key challenge (opportunity) is to transition existing users- “from part-time savers to longer-term investors.” 6) Decentralisation We are still in the very early days. In 2017, blockchain tech was a revolution In 2018, it was a disappointment. In 2019, it is becoming mundane. But with a greater focus on the “fairness” of Bitcoin and other Cryptocurrencies, it’s inevitable that we will see new distribution-focused . The previous two years were about the infrastructure needed to build these products, the next two will be about and attracting users. experiments scaling “Find a market that thrives on its lack of transparency and make it transparent.” NEAR-TERM: 2019–2020 The global fintech ecosystem will continue to mature at an accelerated pace. With big developments ranging from Fintech enabled marketplaces, increasing regulatory clarity, and maturation of AI and blockchain phase, Wave-2 promises to be big for fintech. Challenger banks will continue to grow their service offerings and expand across international borders. Supportive governments and regulators will become the foundation and bridge that enables a collaborative model between fintechs and banks. Collaboration between fintechs and banks in Asia is expected to continue to grow, particularly in areas like KYC, AML, and digital identity management — including facial recognition and voice recognition. Companies that work in isolation will lose relevance and fade away. A shortage of digital and tech talent will be the biggest trigger to facilitate this joining. Traditional banks and corporates will increasingly expand into digital banking, introducing nimble, standalone digital banks that operate independently and do not rely on their existing legacy systems. Collaboration is key to the next wave of fintech. As the fintech ecosystem matures, it’ll become increasingly clear that the best path forward for the industry lies in collaboration among all stakeholders. WAVE-2: NEW HORIZONS- WHAT’S NEXT? (2019- ) In Wave-2, the financial services sector will look beyond the current open banking ‘phase’ and towards a future of and , where traditional banking model is turned on its head and requires a dramatic rethink, emphasizing: fintech enabled marketplaces complete financial automation 1) over Products; Experience 2) over Assets; Data 3) over the build or buy; Partnering 4) over ownership. Shared access FinTechs are now increasingly global, and threatening traditional banks by ushering in product-stack changes- from ‘ , from . Incumbent Banks will recognize the value of the financial-cloud and speed up their digital transformation efforts to meet customer expectations derived from un-bundling to re-bundling’ ‘mono-line to multi-line’ fintechs with new operating and business models. In the medium term, (i.e. manufacture white-label versions of specific products and services) will gain traction. Distributed Ledger, API banking, and AI (Artificial Intelligence) will for both banks and financial services providers — — . However, consumer-ready AI remains much more limited. We will witness the emergence of “ ”; They will dominate a segment by offering a small number of world-class products that are hyper-focused on the segment’s needs. transactional banking become critical building blocks triggering ‘ the age of Invisible Banking’ and unleash a new paradigm where fintechs are the infrastructure providers vertical banks The onset of makes it possible to synergize financial services, where the line between deposits and lending will be blurred, and will be a reality. Collaborative AI Cash-flow-as-a-service In the next few years, some large will scale. Automation will increase and data security will become paramount. Big tech companies will continue to slowly move into finance, and some large Fintech firms will be acquired. fintech enabled marketplaces- curated with thousands of apps and APIs- The “move fast and break things” approach that disrupted the ad-tech industry is unlikely to work in financial services. , and a high level of regional variation in fintech disruption shall continue. More challengers and incumbents will partner . It is customers who are driving the disruption. New Fintech startups will enter markets not by stealing customers from incumbents, but by desidesign solusoluti around a select few customer activities. The focus will shift back to sound business and operating model innovation. As market landscapes get increasingly complex, choosing the right abstraction layers the company sits at becomes more important. Disruption starts with unhappy customers, not technology. In Wave-2, Human+Technology is the underlying theme Good execution and solid business models will trump exotic technology. Extraordinary transformations are happening in the finance world. We’ve only scratched the surface of this revolution. FinTech in ASEAN is only 1% done. It’s a very long game, but ultimately worth it. The coming “second wave” will be the one that drives lasting change. FinTech Wave-2 isn’t Digital. It’s Hybrid. and currently building a “ for India and South-East Asia. Gaurav Sharma is a FinTech entrepreneur, product and business builder with operating experience across Asia in Online-Credit, Payments, Internet, Consumer Banking , Bank of the Future” Other posts by Gaurav: Autonomous Finance Credit is older than Money (and Fintech) “Blood and Sand”: The Moment of -Truth for Mobile Wallets in Asia ChatB ots, API, Voice, Zero UI, and the future of Mobile Apps. Artificial Intelligence (AI) and FinTech — Part 1 Wal-Mart Moment for the banks Of Suits, Hoodies, and Ripped Jeans- Transcending the “Expectation Chasm” in Banking

"FinTech Wave-2 isn't Digital, It’s Hybrid." Lessons from Wave-1 and What’s Next?

Brian Rankin’s background is not unlike others. Successful business man moves into blockchain and leaves to explore the traditional business world yet again. Unlike his peers, Brian saw something interesting during a time when most retail investors are exiting. Brian saw opportunity and massive growth coming. Inspired and motivated to re-enter the blockchain space, Brian found an unlikely suitor. A project that seemingly is unknown to many, yet poised to disrupt the payment industry. And with Brian’ s experience, this is exactly what he contends will happen. PLEASE TELL US ABOUT YOUR BACKGROUND AND A LITTLE BIT ABOUT YOUR EXPERIENCE AT RIPPLE? I’ve been working in the Fintech world since 2008, back when mobile banking was new to the world. At ClairMail (acquired by Monitise, then by Fiserv) I managed mobile banking deployments into 50+ banks and credit unions. At Ripple I led the team that deployed RCL (Ripple Consensus Ledger) and cross-border payments solutions into international banks throughout Europe and APAC. In both companies I was privileged to lead teams of absolutely outstanding engineers and managers, truly some of the best people I’ve ever worked with [ teams, hats off to you! ] And I’m a leadership coach. I believe that everybody is naturally creative, resourceful and whole (unless they prove otherwise) and the best part of my day is when I’m coaching & mentoring my team. WHAT MADE YOU DECIDE TO JOIN MODERN FINANCE CHAIN AFTER LEAVING THE BLOCKCHAIN SPACE? Quite simply I’ve a big believer in the potential of the blockchain and digital currencies. And the big vision of Modern Finance Chain: to expand cryptocurrency utility to the point of ubiquity. With Modern Finance Chain’s multi-blockchain solution based on flexible and powerful smart contacts, I find it personally compelling because it hearkens back to the root of what digital currencies are all about: truly decentralized, instantaneous, transparent, that’s in the best interest of both merchants and consumers. There are so many ICOs out there that are based purely on fluff and “make money fast” — in fact, if you want to see the U.S. Securities and Exchange Commission’s take on ICOs then google HoweyCoins, which is the complete opposite of Modern Finance Chain. ELEVATOR PITCH. HOW WOULD YOU DESCRIBE WHAT MODERN FINANCE CHAIN IS AND WHAT IT’S TRYING TO DO IN A FEW SENTENCES? is a smart contract platform providing the ability for multiple digital currencies to be transacted across multiple blockchains — which is huge and very compelling because MFChain can embrace almost any use case that will enhance consumer and merchant’s experience. With multi-blockchain integration, it’s truly a decentralized network with no single dominant coin. And both merchants and consumers are rewarded for using the platform. Modern Finance Chain CAN YOU EXPLAIN YOUR EXACT ROLE WITH MODERN FINANCE CHAIN? I’m advising Modern Finance Chain on enterprise integrations. Many small technology startups, especially those that are consumer-facing, find it challenging to integrate with financial institutions and payments gateways. Banks — financial institutions in general — are large enterprises with a serious responsibility: they are custodians of financial asset used by millions of people (checking, savings, investments). This places huge regulatory, legal, compliance, and infoSec burdens on everything they do, highlighting the absolutely critical importance of quality product delivered to exacting specifications. I’m here to help MFChain navigate those waters — they can take advantage of my scars and deliver enterprise quality right out of the gate. REGULATIONS AND CRYPTOCURRENCY IS A HOT TOPIC. WHAT DO YOU THINK MODERN FINANCE CHAIN NEEDS TO DO TO ENSURE LONG TERM SUCCESS DURING THESE UNCERTAIN TIMES? So beyond ICOs and talk of digital currencies as securities: the big driver of regulation is that the institutional investors want in. Digital currency investments have a total AUM of about 5% of traditional venture capital. That’s a lot of room for investing in coin. What’s stopping things is lack of institutional-grade investor protection, which won’t change until the regulatory landscape around digital currencies matures. And Modern Finance Chain’s part? Keep abreast of what’s going on around regulations, but don’t let uncertainty and rumors drive the ship — stay the course and keep executing against the vision. At the same time work with the regulators, not against the regulators, as what they really want is to do what’s best for the security and well-being of the people and institutions who will use digital currencies (yes I’m giving regulators the benefit of the doubt). Finally, listen to the MFChain team members, often they already have the answer to — or at least an informed opinion about — the problem of the day. WHAT DO YOU THINK MAKES MODERN FINANCE CHAIN UNIQUE VERSUS ITS COMPETITORS? Several things. Let’s break it down. MFChain has their own Mainnet which enables multi-blockchain integration and a multi-currency digital payments system. And (I like this) it uses the BFT/POS consensus model, which scales horizontally very well. Merchants have choices: accept multiple digital currencies; convert some or all to fiat currencies as desired; control the surcharges on their systems so they can do what’s right for their individual businesses. Consumers can use whatever wallet they have today to transact on Mainnet — no need to go through an exchange. Privacy is king — and consumers control their own privacy settings. And consumers are rewarded — 1% of every purchase using MFX tokens. About those rewards — what I didn’t mention is that 16% of the entire token allocation will be set aside as a rewards pool. And the rewards merchants receive can be passed on — in part or whole — to their customers as they see fit. It’s an awesome innovation platform and incubator. The Mainnet gives the ability for other ICO projects to accept other digital currencies when generating tokens — today most ICOs accept only BTC and ETH. With MFChain we also accept NEO, LTC, XRP, etc — just about any of Altcoin on any blockchain. PLEASE EXPLAIN WHAT THE MF2X PROTOCOL IS? IS THIS FULLY COMPLIANT OR ARE LICENCES AND REGISTRATION STILL REQUIRED? The MF2X protocol enables direct crypto-to-fiat and crypto-to-crypto swaps without the need for dealing with a centralized crypto exchange. This allows any digital currency to participate & transact on the MFChain mainnnet, and opens up the MfChain products and services to millions of users. It’s exciting! Still lots of work to do, however we’re already collaborating with Credits to accept their tokens on our Mainnt. And yes, with our AML/KYC capabilities we will be fully compliant and will register as required within any applicable jurisdiction. Our legal team is managing those important details. PLEASE EXPLAIN THE MFX REWARDS POOL. HOW DOES THAT WORK FOR BOTH CONSUMERS AND MERCHANTS? The MFX reward pool comprises 16% of the entire initial MFX token allocation; additional allocations to the pool will happen as new blockchain partnerships join the Mainnet. The pool is used to incent both consumers and merchants to transact: consumers are rewarded for every transaction (a percentage of their purchase similar to a cash-back credit card program); for merchants the pool covers fees typically bundled by traditional payments systems: chargebacks, interchanges, assessments, payment gateways — these all go away with the MFX Rewards Pool. I like that it’s totally transparent to both the consumers and the merchants, and the merchants can choose to pass their savings onto their customers. It’s an important component of an entire merchant/consumer ecosystem, which is what MFChain is all about. ARE THERE ANY PARTNERSHIPS FORMED OR ANY POTENTIAL PARTNERSHIPS COMING UP? Absolutely! We’re partnered with Ingot Coin and Loopring, which provides us transparent access to their liquidity pools and cryptocurrency partners, and with DDEX as our first exchange listing partner. We’ve also joined the Komorebi Alliance, which I find especially interesting as it’a cross-blockchain group of partners that hedges risk by providing redundancy in the event there’s a performance issue with a partner’s platform, and, converges the industry-specific functions of each partner’s utility token — Token Augmenting Partnerships, to quote Hirander Misra. And we’re announcing two new partners: Zagg, a leader in Gift Cards, Benefits, Rewards and Loyalty industry, who will use the MF2X protocol for payments through MFChain’s payments gateway and will integrate their awards program with the MFX rewards pool. We’ve just partnered with Credits, a Singapore-based blockchain platform for developing dApps, who will use the M2FX protocol to enable the Credits token in the MFChain mainnet. What’s fascinating to see is that we are reaching out to potential partners — not just any blockchain company but the best and the brightest — and they get the vision, they see the value. They understand that by moving beyond the power of one to the power of team, all of us can be immeasurably more successful & impactful. And at the end of the day that’s what it’s all about: having positive impact in the world.

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The Way We Live Now by Anthony Trollope is part of the HackerNoon Books Series. You can jump to any chapter in this book . THE GREAT RAILWAY TO VERA CRUZ here THE GREAT RAILWAY TO VERA CRUZ. "You have been a guest in his house. Then, I guess, the thing's about as good as done." These words were spoken with a fine, sharp, nasal twang by a brilliantly-dressed American gentleman in one of the smartest private rooms of the great railway hotel at Liverpool, and they were addressed to a young Englishman who was sitting opposite to him. Between them there was a table covered with maps, schedules, and printed programmes. The American was smoking a very large cigar, which he kept constantly turning in his mouth, and half of which was inside his teeth. The Englishman had a short pipe. Mr. Hamilton K. Fisker, of the firm of Fisker, Montague, and Montague, was the American, and the Englishman was our friend Paul, the junior member of that firm. "But I didn't even speak to him," said Paul. "In commercial affairs that matters nothing. It quite justifies you in introducing me. We are not going to ask your friend to do us a favour. We don't want to borrow money." "I thought you did." "If he'll go in for the thing he'd be one of us, and there would be no borrowing then. He'll join us if he's as clever as they say, because he'll see his way to making a couple of million of dollars out of it. If he'd take the trouble to run over and show himself in San Francisco, he'd make double that. The moneyed men would go in with him at once, because they know that he understands the game and has got the pluck. A man who has done what he has by financing in Europe,—by George! there's no limit to what he might do with us. We're a bigger people than any of you and have more room. We go after bigger things, and don't stand shilly-shally on the brink as you do. But Melmotte pretty nigh beats the best among us. Anyway he should come and try his luck, and he couldn't have a bigger thing or a safer thing than this. He'd see it immediately if I could talk to him for half an hour." "Mr. Fisker," said Paul mysteriously, "as we are partners, I think I ought to let you know that many people speak very badly of Mr. Melmotte's honesty." Mr. Fisker smiled gently, turned his cigar twice round in his mouth, and then closed one eye. "There is always a want of charity," he said, "when a man is successful." The scheme in question was the grand proposal for a South Central Pacific and Mexican railway, which was to run from the Salt Lake City, thus branching off from the San Francisco and Chicago line,—and pass down through the fertile lands of New Mexico and Arizona, into the territory of the Mexican Republic, run by the city of Mexico, and come out on the gulf at the port of Vera Cruz. Mr. Fisker admitted at once that it was a great undertaking, acknowledged that the distance might be perhaps something over 2,000 miles, acknowledged that no computation had or perhaps could be made as to the probable cost of the railway; but seemed to think that questions such as these were beside the mark and childish. Melmotte, if he would go into the matter at all, would ask no such questions. But we must go back a little. Paul Montague had received a telegram from his partner, Hamilton K. Fisker, sent on shore at Queenstown from one of the New York liners, requesting him to meet Fisker at Liverpool immediately. With this request he had felt himself bound to comply. Personally he had disliked Fisker,—and perhaps not the less so because when in California he had never found himself able to resist the man's good humour, audacity, and cleverness combined. He had found himself talked into agreeing with any project which Mr. Fisker might have in hand. It was altogether against the grain with him, and yet by his own consent, that the flour-mill had been opened at Fiskerville. He trembled for his money and never wished to see Fisker again; but still, when Fisker came to England, he was proud to remember that Fisker was his partner, and he obeyed the order and went down to Liverpool. If the flour-mill had frightened him, what must the present project have done! Fisker explained that he had come with two objects,—first to ask the consent of the English partner to the proposed change in their business, and secondly to obtain the co-operation of English capitalists. The proposed change in the business meant simply the entire sale of the establishment at Fiskerville, and the absorption of the whole capital in the work of getting up the railway. "If you could realise all the money it wouldn't make a mile of the railway," said Paul. Mr. Fisker laughed at him. The object of Fisker, Montague, and Montague was not to make a railway to Vera Cruz, but to float a company. Paul thought that Mr. Fisker seemed to be indifferent whether the railway should ever be constructed or not. It was clearly his idea that fortunes were to be made out of the concern before a spadeful of earth had been moved. If brilliantly printed programmes might avail anything, with gorgeous maps, and beautiful little pictures of trains running into tunnels beneath snowy mountains and coming out of them on the margin of sunlit lakes, Mr. Fisker had certainly done much. But Paul, when he saw all these pretty things, could not keep his mind from thinking whence had come the money to pay for them. Mr. Fisker had declared that he had come over to obtain his partner's consent, but it seemed to that partner that a great deal had been done without any consent. And Paul's fears on this hand were not allayed by finding that on all these beautiful papers he himself was described as one of the agents and general managers of the company. Each document was signed Fisker, Montague, and Montague. References on all matters were to be made to Fisker, Montague, and Montague,—and in one of the documents it was stated that a member of the firm had proceeded to London with the view of attending to British interests in the matter. Fisker had seemed to think that his young partner would express unbounded satisfaction at the greatness which was thus falling upon him. A certain feeling of importance, not altogether unpleasant, was produced, but at the same time there was another conviction forced upon Montague's mind, not altogether pleasant, that his money was being made to disappear without any consent given by him, and that it behoved him to be cautious lest such consent should be extracted from him unawares. "What has become of the mill?" he asked. "We have put an agent into it." "Is not that dangerous? What check have you on him?" "He pays us a fixed sum, sir. But, my word! when there is such a thing as this on hand a trumpery mill like that is not worth speaking of." "You haven't sold it?" "Well;—no. But we've arranged a price for a sale." "You haven't taken the money for it?" "Well;—yes; we have. We've raised money on it, you know. You see you weren't there, and so the two resident partners acted for the firm. But Mr. Montague, you'd better go with us. You had indeed." "And about my own income?" "That's a flea-bite. When we've got a little ahead with this it won't matter, sir, whether you spend twenty thousand or forty thousand dollars a year. We've got the concession from the United States Government through the territories, and we're in correspondence with the President of the Mexican Republic. I've no doubt we've an office open already in Mexico and another at Vera Cruz." "Where's the money to come from?" "Money to come from, sir? Where do you suppose the money comes from in all these undertakings? If we can float the shares, the money'll come in quick enough. We hold three million dollars of the stock ourselves." "Six hundred thousand pounds!" said Montague. "We take them at par, of course,—and as we sell we shall pay for them. But of course we shall only sell at a premium. If we can run them up even to 110, there would be three hundred thousand dollars. But we'll do better than that. I must try and see Melmotte at once. You had better write a letter now." "I don't know the man." "Never mind. Look here—I'll write it, and you can sign it." Whereupon Mr. Fisker did write the following letter:— Langham Hotel, London. March 4, 18—. Dear Sir,—I have the pleasure of informing you that my partner, Mr. Fisker,—of Fisker, Montague, and Montague, of San Francisco,—is now in London with the view of allowing British capitalists to assist in carrying out perhaps the greatest work of the age,—namely, the South Central Pacific and Mexican Railway, which is to give direct communication between San Francisco and the Gulf of Mexico. He is very anxious to see you upon his arrival, as he is aware that your co-operation would be desirable. We feel assured that with your matured judgment in such matters you would see at once the magnificence of the enterprise. If you will name a day and an hour, Mr. Fisker will call upon you. I have to thank you and Madame Melmotte for a very pleasant evening spent at your house last week. Mr. Fisker proposes returning to New York. I shall remain here, superintending the British interests which may be involved. I have the honour to be, Dear Sir, Most faithfully yours. —— ——. "But I have never said that I would superintend the interests," said Montague. "You can say so now. It binds you to nothing. You regular John Bull Englishmen are so full of scruples that you lose as much of life as should serve to make an additional fortune." After some further conversation Paul Montague recopied the letter and signed it. He did it with doubt,—almost with dismay. But he told himself that he could do no good by refusing. If this wretched American, with his hat on one side and rings on his fingers, had so far got the upper hand of Paul's uncle as to have been allowed to do what he liked with the funds of the partnership, Paul could not stop it. On the following morning they went up to London together, and in the course of the afternoon Mr. Fisker presented himself in Abchurch Lane. The letter written at Liverpool, but dated from the Langham Hotel, had been posted at the Euston Square Railway Station at the moment of Fisker's arrival. Fisker sent in his card, and was asked to wait. In the course of twenty minutes he was ushered into the great man's presence by no less a person than Miles Grendall. It has been already said that Mr. Melmotte was a big man with large whiskers, rough hair, and with an expression of mental power on a harsh vulgar face. He was certainly a man to repel you by his presence unless attracted to him by some internal consideration. He was magnificent in his expenditure, powerful in his doings, successful in his business, and the world around him therefore was not repelled. Fisker, on the other hand, was a shining little man,—perhaps about forty years of age, with a well-twisted moustache, greasy brown hair, which was becoming bald at the top, good-looking if his features were analysed, but insignificant in appearance. He was gorgeously dressed, with a silk waistcoat and chains, and he carried a little stick. One would at first be inclined to say that Fisker was not much of a man; but after a little conversation most men would own that there was something in Fisker. He was troubled by no shyness, by no scruples, and by no fears. His mind was not capacious, but such as it was it was his own, and he knew how to use it. Abchurch Lane is not a grand site for the offices of a merchant prince. Here, at a small corner house, there was a small brass plate on a swing door, bearing the words "Melmotte & Co." Of whom the Co. was composed no one knew. In one sense Mr. Melmotte might be said to be in company with all the commercial world, for there was no business to which he would refuse his co-operation on certain terms. But he had never burthened himself with a partner in the usual sense of the term. Here Fisker found three or four clerks seated at desks, and was desired to walk up-stairs. The steps were narrow and crooked, and the rooms were small and irregular. Here he stayed for a while in a small dark apartment in which "The Daily Telegraph" was left for the amusement of its occupant till Miles Grendall announced to him that Mr. Melmotte would see him. The millionaire looked at him for a moment or two, just condescending to touch with his fingers the hand which Fisker had projected. "I don't seem to remember," he said, "the gentleman who has done me the honour of writing to me about you." "I dare say not, Mr. Melmotte. When I'm at home in San Francisco, I make acquaintance with a great many gents whom I don't remember afterwards. My partner I think told me that he went to your house with his friend, Sir Felix Carbury." "I know a young man called Sir Felix Carbury." "That's it. I could have got any amount of introductions to you if I had thought this would not have sufficed." Mr. Melmotte bowed. "Our account here in London is kept with the City and West End Joint Stock. But I have only just arrived, and as my chief object in coming to London is to see you, and as I met my partner, Mr. Montague, in Liverpool, I took a note from him and came on straight." "And what can I do for you, Mr. Fisker?" Then Mr. Fisker began his account of the Great South Central Pacific and Mexican Railway, and exhibited considerable skill by telling it all in comparatively few words. And yet he was gorgeous and florid. In two minutes he had displayed his programme, his maps, and his pictures before Mr. Melmotte's eyes, taking care that Mr. Melmotte should see how often the names of Fisker, Montague, and Montague, reappeared upon them. As Mr. Melmotte read the documents, Fisker from time to time put in a word. But the words had no reference at all to the future profits of the railway, or to the benefit which such means of communication would confer upon the world at large; but applied solely to the appetite for such stock as theirs, which might certainly be produced in the speculating world by a proper manipulation of the affairs. "You seem to think you couldn't get it taken up in your own country," said Melmotte. "There's not a doubt about getting it all taken up there. Our folk, sir, are quick enough at the game; but you don't want me to teach you, Mr. Melmotte, that nothing encourages this kind of thing like competition. When they hear at St. Louis and Chicago that the thing is alive in London, they'll be alive there. And it's the same here, sir. When they know that the stock is running like wildfire in America, they'll make it run here too." "How far have you got?" "What we've gone to work upon is a concession for making the line from the United States Congress. We're to have the land for nothing, of course, and a grant of one thousand acres round every station, the stations to be twenty-five miles apart." "And the land is to be made over to you,—when?" "When we have made the line up to the station." Fisker understood perfectly that Mr. Melmotte did not ask the question in reference to any value that he might attach to the possession of such lands, but to the attractiveness of such a prospectus in the eyes of the outside world of speculators. "And what do you want me to do, Mr. Fisker?" "I want to have your name there," he said. And he placed his finger down on a spot on which it was indicated that there was, or was to be, a chairman of an English Board of Directors, but with a space for the name, hitherto blank. "Who are to be your directors here, Mr. Fisker?" "We should ask you to choose them, sir. Mr. Paul Montague should be one, and perhaps his friend Sir Felix Carbury might be another. We could get probably one of the Directors of the City and West End. But we would leave it all to you,—as also the amount of stock you would like to take yourself. If you gave yourself to it, heart and soul, Mr. Melmotte, it would be the finest thing that there has been out for a long time. There would be such a mass of stock!" "You have to back that with a certain amount of paid-up capital?" "We take care, sir, in the West not to cripple commerce too closely by old-fashioned bandages. Look at what we've done already, sir, by having our limbs pretty free. Look at our line, sir, right across the continent, from San Francisco to New York. Look at—" "Never mind that, Mr. Fisker. People wanted to go from New York to San Francisco, and I don't know that they do want to go to Vera Cruz. But I will look at it, and you shall hear from me." The interview was over, and Mr. Fisker was contented with it. Had Mr. Melmotte not intended at least to think of it he would not have given ten minutes to the subject. After all, what was wanted from Mr. Melmotte was little more than his name, for the use of which Mr. Fisker proposed that he should receive from the speculative public two or three hundred thousand pounds. At the end of a fortnight from the date of Mr. Fisker's arrival in London, the company was fully launched in England, with a body of London directors, of whom Mr. Melmotte was the chairman. Among the directors were Lord Alfred Grendall, Sir Felix Carbury, Samuel Cohenlupe, Esq., Member of Parliament for Staines, a gentleman of the Jewish persuasion, Lord Nidderdale, who was also in Parliament, and Mr. Paul Montague. It may be thought that the directory was not strong, and that but little help could be given to any commercial enterprise by the assistance of Lord Alfred or Sir Felix;—but it was felt that Mr. Melmotte was himself so great a tower of strength that the fortune of the company,—as a company,—was made. About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Anthony Trollope (2004). The Way We Live Now. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/cache/epub/5231/pg5231-images.html This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

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