embedded wealth management
Embedded finance allows to pay for a purchase online without entering bank details or instantly take out a consumer loan on digital platforms outside banks, among many other options. This Bank-as-a-Service model, which allows the integration of financial services via APIs, moved $22.5 billion in 2020, a figure that will increase tenfold in the next four years.
To meet the rising demand for embedded finance, financial institutions are increasingly offering banking as a service (BaaS)—bundled offerings, often white-labeled or cobranded services, that nonbanks can use to serve their customers. Making it work will require new technologies and capabilities, because BaaS is usually distributed to clients via APIs and requires strong risk and compliance management of the embedded finance partner. (Fintechs offering to intermediate BaaS relationships also have emerged; examples include Treasury Prime, Synctera, Unit, and Bond.) Banks will also need new business models, such as pay-for-use monetization, B2B2C and B2B2B distribution capabilities, and a careful consideration of branding.
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Headless e-commerce – what is it?
The market for services related to sales via the Internet is constantly growing. During the pandemic and the related to it restrictions, the demand for remote sale of goods increased significantly. This also necessitated the rapid creation and development of online shops. Traditional Content Management Systems (CMS) tie all layers of the programme together. Headless e-commerce technology separates the layer visible to the user (front-end of the application) from the code dealing with logic and integration of server-side functions (back-end of the application) and the database containing information about the prices of the products offered in the shop, their images and descriptions. These layers are separated from each other, but have contact with each other through the Application Programming Interface (API). In this way, although externally the application looks homogeneous, it actually consists of three parts that interact with each other. This structure allows independence from the solution provider, as the vendor deals only with the front-end layer, visible to the customer, and does not have to interfere with the entire code.
Advantages and disadvantages of headless e-commerce
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On 23 March and 24 March 2022 KIELTYKA GLADKOWSKI KG LEGAL will take part in a virtual summit Code to Cloud organized by Palo Alto Networks.
Code to Cloud is dedicated to covering security best practices across cloud native tech stacks and the development lifecycle—from IaC and open source packages to containers and workloads.
The speakers in a number of sessions will cover some key tips for integrating DevOps and security practices, as well as some of the latest research on the state of software security, showing why it is so important to make security efficient and collaborative. The speakers will talk about patterns, technologies, and approaches to evolve systems while minimizing the erosion of security practices. There will be explored the solution with HashiCorp Terraform, Consul, Vault, and Boundary, and patterns how to broadly apply them to one’s system architecture. This talk will be useful to platform, infrastructure, or security architects, and anyone designing or engineering infrastructure systems.
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On Wednesday, March 9, U.S. President signed an executive order – a directive through which he manages the federal government’s activities. The decree was dedicated to the problem of digital asset development. The government administration was required to develop a strategy to better understand the risks and opportunities posed by digital assets. With this executive order, the White House directed the Departments of Treasury, Commerce, State and Justice, among others, to examine elements of the rapidly growing cryptocurrency market. The government agencies will review the market over the next six months and prepare a public report with recommendations for the federal government’s approach to digital currencies.
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The number of financial frauds consisting in phishing login details in electronic banking services is growing worldwide, including Poland. Fraudsters use the Internet and telephone, impersonating, inter alia, the Polish Financial Supervision Authority, the Credit Information Bureau or banks. As the Bank Cyber Security Center of the Polish Bank Association points out, the methods used by criminals include, inter alia, telephones in which undetermined people call potential victims and pretend to be commonly recognized financial institutions, try to obtain sensitive data used, for example, to log in to electronic banking. Fraudsters can also persuade the people they call to install software on the computer or phone that will allow them to take control of the victim’s device and obtain further data – such as logins and passwords for banking services, as well as SMS codes authorizing transactions financial.
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