While we’re eagerly anticipating the Thanksgiving holiday, here are a few hot topics in finance and fintech to whet your appetite!
Bitcoin, bitcoin, bitcoin is all we’ve heard in the news lately, but one company is taking us back to currency’s roots in a convenient, modern way. A new app named Glint allows you to buy and use gold for mobile payments.
PayPal is moving into robo investing, as the company advances beyond the payments space.
The ETF inflow surge shows no sign of stopping, especially with new regulation coming from Washington.
Glint’s founders started the company to reintroduce gold as currency, because “money is prone to depreciate in ways we have no control over.” Gold is used as an alternative investment to safeguard wealth in times of geopolitical turmoil. Some people have turned to bitcoin to avoid currency backed by government and big banks. It appears Glint is hoping to persuade them to do the same when it comes to gold – which offers a more stable value – by providing an easy way for consumers to use the metal for payments.
So what is robo investing? Robo-advisors take the human element out of the investing equation by utilizing mathematical rules or algorithms to manage your money. It typically begins by collecting information on your financial situation and goals, then identifies investment opportunities based on your risk tolerance.
Robo investing is just one of several new technologies that play into a much larger trend – providing a population who has historically been underserved and underbanked with greater access to financial tools.
Fiduciary Rule: designed to improve the quality of investment advice in the U.S. this rule has been bandied round for a number of years but this summer parts of it were taken into effect. It requires financial advisors to disclose fees and reject commission based business models. The effect could account for U.S. ETFs assets tripling to more than $10 trillion over the next five years, according to Bank of New York Mellon Corp.
NAIC Guidelines:The National Association of Insurance Commissioners used to hold ETFs to pretty strict standards (akin to equities). Starting in 2018 the new guidelines will help insurers account for ETFs in the same way they account for bonds. Once implemented this will allow insurers to measure ETFs based on underlying cash flows of the securities, meaning insurers will be jumping right into them.
MiFID II:Outside of the U.S. the European Union’s new Markets in Financial Instruments Directive II (MiFID II) is expected to increase flows from retail investors. Similar to the U.S. fiduciary rule, MiFID II requires greater transparency in the commission-based advisory model. By exposing the true cost of actively managed funds, the rule could drive up to 15-20 percent of retail investors to lower cost ETFs.
» BOTTOM LINE: Stay Safe on Cyber Monday: Cybersecurity for Holiday Shopping
Americans have many things to be thankful for this holiday season, but the unprecedented rate of data breaches and rising rate of credit card fraud are not among them. Online transactions are at the center of data breaches and credit card theft – and the most popular day of the year for online shopping is upon us. Cyber Monday 2016 went down as the biggestday fore-commerce in U.S. history – topping $3 billion in purchases. In the first half of 2017 alone, our country faced nearly 800 data breaches, setting a new half-year record. To make matters worse, credit card fraud cost U.S. consumers a staggering $16 billion in 2016, according to Javelin Strategy & Research, and this number doesn’t even account for the billions of dollars lost by merchants and banks.
Before embarking on peak shopping season, consumers, retailers and banks should brace for hackers and take note of the guide below.
Pavia Systems, a Seattle-based transportation technology company, challenged KCD PR to develop and execute a mass media campaign involving strategic outreach and public relations that would result in significant exposure in a crowded marketplace. To develop our strategy, we conducted expansive research on the use of technology in the transportation industry. We then developed key company messages, a strategic plan, and identified target audiences and media.