Banking today isn’t what it was a few years ago. Thanks to the increased, fast-paced digitalization, bank statements can be viewed on your laptop or smart screen and even cash can be transferred via the same process. But here’s the glitch in this scenario; hacking into any database is a simple process for any person with the concerned background. And the number of hacks is slowly but steadily increasing since all banking systems went online. In fact, according to a recent survey by an internet security firm, more than 160,000 types of virus are being programmed each day. Holes in your online security How do these bugs work? They are programmed in such a way where they can find holes in your online security and identify crucial
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Due to the collapsed economy, the President of Venezuela, Nicolas Maduro declared the initiation of “Petro”, a digital form of currency backed by oil reserves. Looking into the domain of digitalized currency, this was announced to get around the US led economic transactions to boost up the struggling economy. A leftist leader, the President put forward only a small number of particulars about the currency launch or how the struggling OPEC (Organisation of the Petroleum Exporting Countries) member would pull off such an accomplishment, but he affirmed to applause that “the 21st century has arrived!” According to the President’s regular Sunday televised broadcast, he announced that the country will generate a cryptocurrency supported by the natural reserves of oil, gas, gold, and diamond. Rise above the fiscal obstruction This
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The world is rapidly changing and becoming more digitalized each and every day. Everything is online and nothing is pen and paper anymore. So how is digitalization changing the financial services sector industry? Banks and other financial institutions recommend financial planning and trading applications through smartphones and social media; cloud technologies are now commonly accepted, and in many cases, robotics are already dipping cost and escalating quality. Against the traditional financial services Since the fiscal year 2011, the number of start-up companies in the fintech industry has grown to more than 50 percent. Fintech industry comprises of those companies that are technology-based and compete against the traditional financial services. More and more consumers are moving towards the digital currency, as in the case of Paytm, digital deposits and even investing.
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The world is evolving. Slowly but surely. The value of money had changed, is changing and will change in the future. When the value of money changes, it affects businesses as well as organizations and corporations, both national and multinational. In order to be rich and make the most of it, it is imperative to keep a close track of the stock market as well as the trends of investment. The policy of demonetization was put into effect in India in the past year and changed the Indian economy drastically. Small business owners, as well as local shops, were affected and long queues were there in almost every bank. The entire nation struggled to get a grip on this policy and almost every business stock slumped. And this
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