Changes in ASC 606 and Their Effect on Subscription-Based Businesses

05-12-2018 by Dmitri Koteshov

First of all, a bit of history if you’re unfamiliar with the notion itself. Back in 2014, the Federal Accounting Standards Board (aka FASB) in partnership with the International Accounting Standards Board (or IASB) came up with new rules on regulating revenues from contracts known as ASC 606. Initially, it...

AI-Driven ATM Fights Cybercriminals

20-11-2018 by Dmitri Koteshov

Despite the development of various security systems for bank transfers and plastic cards, the fraud via good old ATMs still brings a lot of tangible income to various dishonest individuals or - I should have said -  cybercriminals. To address this problem, industry professionals across the globe come up with...

How Can AI Change The State of Cybersecurity

07-03-2018 by Dmitri Koteshov

According to Wikipedia, financial crimes are “crimes against property, involving the unlawful conversion of the ownership of property (belonging to one person) to one's own personal use and benefit”. In the Internet age, financial crimes are often associated with cybercrime. Globally, this type of criminal activity is regarded as a...

Insurance And Innovation: How Technology Disrupts Traditional Business

27-02-2018 by Svetlana Yurkevich

“The threat that inspires” – here’s how insurtech is referred to in media. Indeed, the innovation that comes to the industry has the disruptive nature. Well, it’s very early days for insurtech startups to transform the market but high customer expectations and rough competition encourage industry leaders to weigh the...

Smart vs. Ricardian Contracts: What’s the Difference?

28-02-2018 by Dmitri Koteshov

We continue to explore the world of the blockchain, and one of the conspicuous notions in this field is called “a smart contract”. In this article, we’re going to find out what the difference between a smart and a Ricardian contract is. However, before diving into the details, let’s answer...

Chatbots: the Future of Digital Banking

19-02-2018 by Dmitri Koteshov

Let’s start with myth-busting, shall we? AI-powered chatbots aren’t solely used for communication purposes. It would be fair to begin with this statement as, contrary to popular belief, bots are bigger than they may seem to the general public. In fact, more and more financial institutions are starting to consider...

Central Banking and Fintech: Points of Contact

06-02-2018 by Dmitri Koteshov

Last year saw new technologies and innovations taking the mainstream stage globally. Just remember what was on TV, social media or set the topic of your small talk at the office - the rise of technology served as the main headline and outcome of 2017. Its impact on society and...

Blockchain for Business: 2017 Overview

10-01-2018 by Dmitri Koteshov

My colleague skyped me yesterday saying: “Just decided to watch TV for the first time in 2 months. Guess what was the first thing I’ve seen right away?” I replied: “Something about blockchain?” and received a laughing out loud smile as her consent sign. However, it wasn’t a hard guess...

What makes a good cryptocurrency wallet?

08-01-2018 by Svetlana Yurkevich

Today, cryptocurrency wallets are the only way to manage, sell, buy or keep track on cryptocoins. The idea of digital money is senseless without them. Whenever you buy bitcoins, ethers, or any other cryptocurrency or tokens, you’ll need to store them in a single-use or multi currency wallet app. According...

The app for token sale and ICO: what will attract investors?

21-11-2017 by Svetlana Yurkevich

New business ideas emerge every day, and ever more people compete in tenders to raise funds to finance their startups and give these a push. However, investors are led by their personal preferences and put up their capital in the business ideas which are the most perspective and the most...

Fraud Management: Detection and Prevention in Banking Industry

29-12-2017 by Dmitri Koteshov

Nowadays, the banking industry is facing an acute problem of fraud. The problem is global, and no country is fully protected. Fraudsters have become experts in hijacking online sessions: they steal client credentials and use malware to swindle funds from unaware account holders. In his book “Future Crimes” Marc Goodman...

8 Characteristics Of The Next-Generation Financial Services Websites

31-01-2018 by Svetlana Yurkevich

When it comes to the face of business, it is important to change it over the time to keep up with the pace of innovation. Digital revolution sets its own rules on the way business is transformed. Brick-and-mortar shops are empowered with online versions, face-to-face payments – with one-click purchases,...