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5 Exciting Use Cases Of Blockchain In Financial Services

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BlockchainOne of the most trending topics in the Fintech industry is Blockchain. We touched upon a few points that enable a better understanding of the technology and how to use it in best possible ways?

What is blockchain?

Blockchain, is a digital, distributed transaction ledger with identical copies maintained on each of the network’s members’ computers. All parties can review prior entries and record new entries as well. Transactions are classified and grouped into blocks and recorded one by one in a chain of blocks. Cryptography protects links between blocks and their content, so that prior transactions can neither be destroyed nor forged. This technology is decentralized which means there is no central authority in this transaction network. 

According to PWC’s ‘Global FinTech Report 2017’, 77% of financial companies plan to adopt block chain as part of their production system or process by 2020. By identifying this huge potential in blockchain, technology start-ups are investing in this space.


Total Investment in Blockchain Startups

Top 5 Use Cases of Blockchain:

1. Share Trading

Blockchain will have a great impact on share trading. Implementing this technology helps in increasing greater trade accuracy and a shorter settlement process through automation and decentralisation.

2. Cross-Border Payments

The transfer of value has always been a costly and time consuming process. This is particularly true in case of cross-border payments. Blockchain technology reduces the cost and makes the process efficient in a simple way.

3. Smart Contracts

One of the most important applications of this technology is the smart contract. It automatically executes commercial transactions and agreements. It also fulfils the obligations of all parties in a contract – without increasing the expense for the middleman.

4. Loyalty & Rewards

This technology offers many advantages, like traceability of transactions and transparency. This will help financial institutions and insurers to create a more captivating loyalty and rewards program that provide 24/7 performance management and enhances engagement.

5. Identity Management

When identity management is transferred to blockchain, users will be able to choose how to identify them and who will be informed. They still need to register their identity, but after that, they can re-use that identification for other services.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

About The Author: Krishna Kartheek Palchuri is currently working as a Business Development Executive in Market Simplified India Ltd. He finds his solace on the roads travelling to distant places over his bike. Also a foodie who loves to experiment with the different tastes which new places get to offer him.

Chatbot – A Simpler Way To Communicate With Your Customers

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chatbot

According to the recent study conducted by Facebook more than 70% of users prefer to solve online queries by chat and it is seen that more than 80% users prefer to use mobile to seek information rather than using their laptops or desktops. As a result, brands really have the unique opportunity to develop more personal relationship with their users which helps to increase customer loyalty.

Chatbots deliver immediate solutions to the problems where humans lack, due to timing or budget. It helps to drive sales and also reduce operational and service expenses. It answers general queries of the product which are raised by the users. This boosts customer loyalty and retain the customers.

It sets the first line of communication between the customer and financial institutions. Now the customer doesn’t need to browse for a banking product on its website, they can simply ask a chatbot for the specific product. Search for the product which they are looking for is made easier. This technology will lead to more satisfaction and increase in sales. Advanced chatbot can be used if we want to purchase through it.

Current Chatbot In The Industry

In October 2016, Bank of America introduced the chatbot, Erica, which got available to customers in late 2017. This allows customers to communicate via text or voice message, with the ultimate goal of providing banking and financial advice.

A lot of the FinTech startups have made their chatbot s— and now the traditional banks should also start using this technology. Bot technology and artificial intelligence (AI) give financial organizations the support they need to deliver a good user experience and help them save money as well as time.

Today customers buy experience along with buying products and services. For a better customer experience they are ready to pay a higher price.

chatbot customer service stats

“The over-all point is that new technology will not necessarily replace old technology, but it will date it. By definition, eventually, it will replace it. But it’s like people who had black-and-white TVs when color came out. They eventually decided whether or not the new technology was worth the investment.”
-Steve Jobs

Intelligent Chatbots Are The Future

While making the conversation interactive for the consumers, NLP (Natural Language Processing) makes the chatbot act as an interactive layer which digs into the context of the conversation and translates its objective (positive or negative) thereby enabling the chatbot tool to respond naturally like a human to the users. Interestingly, NLP can find the patterns of opinions from a volume of customer interactions, which businesses can hold to improve their processes or operations.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

About The Author: Khushboo Lahoti is currently working as a Business Development Executive in Market Simplified India Ltd. She is a humble renaissance person. Inventive and creative ideas are her thrust.

Hooray !!! CeleritiFinTech Certifies Market Simplified as An Innovation Marketplace Fintech Player

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We are delighted to announce that Market Simplified got certified as an Innovation Marketplace Fintech player by iValley & CeleritiFinTech (CFT).

The Fintech startups for this accelerator & certification program are selected from the CFT Hack the Core hackathon conducted earlier this year at iValley innovation center in San Ramon, SFO. Around 20 Fintechs participated in the hackathon addressing the areas of small business banking, regulatory technology, payment innovation, conversational UI & bot development toolkits and only 5 are selected for this certification program.

The certification process was intense. The Fintech must demonstrate seamless integration of 26 CFT Core Banking and Payment APIs into their respective systems and must pass 16 checkpoints in order to get certified as an Innovation Marketplace Fintech.

“This solution certification process helped us to validate our product idea with the industry leader as well as it facilitated the integration of our Conversational Banking Platform with CFT APIs. Now the product is pre-integrated and ready to be deployed to any bank that uses CFT core banking”, says Raghavan Srinivasan who spearheads this product development at Market Simplified.

The certified fintech companies will be invited to CFT Innovation Summit in Marco Island, Florida on 17th to 19th January 2018 where they will be demonstrating their products to global financial executives.

“This strategic partnership would help Market Simplified to pitch our pre-integrated conversational banking platform to CFT’s 100+ leading banks around the globe”, added Kountinya Sai, CEO-Americas, Market Simplified.

About CeleritiFinTech
CeleritiFinTech, an HCL DXC Technology Company, delivers banking software and services to global banking clients.

About iValley
iValley Innovation Center is a corporate fintech accelerator in the East San Francisco Bay Area. iValley provides agility and direction to financial institutions by allowing them to tap into and co-create with an ecosystem of startups to maintain a continuous focus on innovation. iValley is host of FintechTalk, the Intersection of Silicon Valley and Financial Services conference.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Market Simplified Is Now An Amazon Web Services Standard Consulting Partner

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AWS Partnership

Market Simplified is a thought leader and pioneer in the digital transformation space, especially catering to the needs of financial institutions, announced today that it became an Amazon Web Services (AWS) Standard Consulting Partner.

APN Consulting Partners are professional services firms that help customers of all sizes design, architect, build, migrate, and manage their workloads and applications on AWS. Consulting Partners include System Integrators (SIs), Strategic Consultancies, Agencies, Managed Service Providers (MSPs), and Value-Added Resellers (VARs).

Attaining AWS Standard Consulting Partner status is the acknowledgment of Market Simplified’s knowledge and skills, business practices, and comprehensive management lifecycle capabilities that align with AWS standards.

“We are seeing a global trend of financial institutions migrating from traditional captive IT to cloud and this partnership will help us to drive the benefits of cloud infrastructure to our clients and serve them with more agile and innovative solutions.” Quoted Prashanth Ganapath, Head Operations at Market Simplified.

About AWS (Amazon Web Services) Partner Network (APN)
The AWS Partner Network (APN) is the global partner program for Amazon Web Services (AWS). It is focused on helping APN Partners build successful AWS-based businesses or solutions by providing business, technical, marketing, and go-to-market support. AWS Partner Network (APN) Partners have opportunities to create new businesses or solutions while seeing significant growth with the opportunities provided by the APN Program. APN Partners receive business, technical, sales, and marketing resources to help grow their business and better support their customers.

About Market Simplified
Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Kotak 811 triumphs at India FinTech Awards 2017

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Kotak 811, India Fintech Awards

Best Corporate Innovation Award, India Fintech Awards 2017

We are delighted to announce that Kotak Mahindra Bank’s 811 app has bagged the ‘Best Corporate Innovation Award’ at The India FinTech Awards (IFTA) 2017.

Kotak 811 has proven to be a game changer for Kotak Mahindra Bank as customer onboarding in banks has long been a process-centric approach as opposed a customer-centric one and Kotak 811 has changed the account opening process into a customer-centric one. It has played a huge role in simplifying customer onboarding process, as it requires no physical presence at the bank and is a completely paperless process.

Uday Kotak, Executive Vice Chairman & Managing Director, Kotak Mahindra Bank said, “We aim to double our customer base in 18 months. 8/11 changed India. 811 aims to take our Prime Minister’s vision forward. It offers access to over 100 features on mobile including completing financial transactions, managing investments, fund transfer, and is an ideal lifestyle app for e-commerce on Flipkart, PVR, Goibibo, etc. 811 is fully integrated with Bharat QR Code, India’s new digital payment system, developed by the Government of India. The app is also Unified Payment Interface (UPI) enabled, for instantly sending and receiving money. Further, 811 customers will enjoy all digital transactions at zero cost, and get a free virtual debit card.”

The History

We, at Market Simplified, have a long-standing relationship with Kotak Mahindra Bank as their technology partner, we have developed their Mobile Banking application. Kotak Mahindra Bank approached us with a specific objective to double their customer base within 18 months. This was just about the time of demonetization when the whole nation was struggling to change their 500s and 1000 rupee notes, we were brainstorming on a solution that could turn around things for Kotak.

The challenge for Market Simplified was to execute the project within a short span of time as Kotak Mahindra Bank was committed to bringing the Digital Onboarding quickly to the market soon after Demonetization.

Giving an insight into the project Samuel Rajkumar, Project Manager, Market Simplified said “Kotak wanted the consumers to have a downloadable bank account, the initiative was very innovative and a complex one as it involved technology Integration from multiple third parties, and  in spite of the challenging conditions the project was executed in less than 45 days, and it has exceeded the expectations of Kotak and its customers. ”

One might also be wondering about the rationale behind the name of this innovative app which has taken the banking industry by a storm. The name Kotak 811 was inspired by the date (November 8) on which demonetization was announced by Prime Minister Narendra Modi.  After Kotak 811, Kotak’s customer base has increased to 17 million with close to 500,000 installs and the app also has a 4.5 star rating.

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with a cutting-edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Aloha, we’re all set for FinTechTalk event. Are you?

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 FinTechTalk 2017 San Ramon, CA.

Fintech Talk 2017 San Ramon, CA.

We’re delighted to be a part of FinTechTalk 2017 happening on September 26th at San Ramon, CA.

Leaders in financial services and technology startups will be bringing in an immersive experience around emerging trends in fintech. The event mainly revolves around Artificial Intelligence, APIs, Credit and Wealth Management, Payments, Cryptocurrency and Blockchain. Thought leaders from banking industry and Fintech startups are going to provide invaluable insights. Venture Capitalists are going to be a part of the event as well. Looking forward to saying hello to people with innovative ideas that could grab their attention.

FinTechTalk Conference 2017 topics:

  1. Artificial Intelligence and its role in modernizing channels
  2. Blockchain based capabilities are changing processing and data storage
  3. Fintech proven models of how FSIs can collaborate with startups
  4. Real Estate lending technology is the new cronut of lending space
  5. Advice to startups from serial entrepreneurs on how to go to market with their innovations

The event will witness a plethora of AI/Early-Stage/Growth-Stage/promising/revolutionary startups and venture capitalists, matching their vision thus making it the breeding ground for some of the most powerful fintechs of the future.

We’re happy to say that we’re taking part in the panel discussion there about Core Modernization. And we will be at the Market Simplified booth greeting the participants with our innovative ideas. Let’s catch up there and exchange some ideas.

About iValley:

iValley connects enterprise demand of innovation with a supply of innovation from startups and innovators along with value added services. It’s unique offering of innovation as a service augments enterprises’ innovation and R&D efforts.

Post Event Details

Mr Vasant Jayaraman has been an integral part of the iValley FinTech Talk from Market Simplified. His presentation in front of the esteemed audience, who were from revolutionary startups and top Venture capital firms in the FinTech space had received many accolades.

vasant

The presentation was focused on Market Simplified’s cloud-based Conversational Platform, powered by Artificial Intelligence & Machine Learning. The platform helps financial institutions increase productivity, improve gain on sale percentage, by reducing the net cost of origination and optimizing personnel expenses.

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users, with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning, and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Customer Engagement via Facebook Messenger Bots

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Facebook Messenger Bot

Facebook Messenger Bot

The Mobile and the internet penetration have disrupted the consumer behavior and companies have made mobile as the prime focus of Business and Digital strategy, especially in banks and brokerages where Real-Time information is of prime importance to make quick decisions. The mobile apps are a great way to provide information and allow consumers to transact with a seamless experience, but if you look at driving consumer engagement it has to be done where the customers are, and its the Facebook messenger bot which will you do that.

Globally on an average 14% percent of time spent on mobile by a user is on Social media and only 2% spent on Financial/Banking apps. Hence companies are moving towards a better engagement model via the Facebook Messenger bot.

TD Ameritrade recently launched their messenger Chabot, the bot can answer the basic queries such as Market news, stock prices, and account related information without the consumer leaving the messenger app.

FB_Messenger_ChatBot_1

User’s Mobile Screenshot – TD Ameritrade chatbot

FB_Messenger_ChatBot_2

User’s Mobile Screenshot – TD Ameritrade chatbot

The Messenger bots have become an easy way for consumers to get their queries answered rather than waiting for long hours on consumer care calls or finding the information themselves. The Chabot uses artificial intelligence and machine learning to respond to natural language messages from users on Facebook messenger and when it’s unable to understand the query it prompts the human customer support team at the back end. The bot is not restricted only for Ameritrade customers it is accessible by other Facebook users as well; hence it can act as a very good acquisition channel.

The first generation of the chat bots have already hit the markets and according to a recent survey, more than 75% of the Financial institutions globally see Chabot’s’ as a viable commercial solution and almost half of them have active chatbot projects. Gartner predicts that by 2020 customers will manage over 85% of their relationship with the company without interacting with a human.

The bots can significantly improve the customer satisfaction levels as live chat leads to 70% more customer satisfaction levels than email and phone conversations. Furthermore, it gives an opportunity to the consumer to directly talk about his problem with the company on a one-to-one basis rather than posting it on the public forum.

Facebook Messenger Bot solution from Market Simplified

Market Simplified offers Facebook messenger bots for brokerages which can help improve consumer engagement and be a prime channel for customer acquisition as well. Below are the features that we have to offer for the Chatbot.

Facebook Messenger bot Essential Features

  • Real-time share quotes
  • Market News
  • Portfolio related Information
  • General Customer care queries
  • Research Recommendations

Facebook Messenger Bot Advanced Features

  • Quarterly Earnings report of Stocks
  • Technical Indicators such as MACD, Stochastic oscillator etc
  • Real-Time stock specific news and events.
  • Buy, Sell and Hold recommendations on current portfolio.
  • Premium calculator for options

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Indeed, a Day Well Spent! – Amazon AWS Startup Day

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Amazon AWSWe, at Market Simplified, are delighted to have attended the Amazon AWS start up event on the 21st of July 2017. The Chennai event had over 200 start-ups and fin-tech companies.

“Launching a successful startup takes more than building on the most flexible, reliable, and scalable infrastructure available today. “

The event was mainly for startup founders and technical staff, which aimed at delivering education and networking opportunities to enable and accelerate start-up innovation and growth, to provide education on emerging trends and inspire action through the personal experiences of startup founders.

AWS is comprised of many former entrepreneurs and engineers that helped build some of the most recognizable startup brands in the world. At AWS Startup Day, new companies learn from these former startup experts about best practices that go beyond designing their infrastructure.

The event served as an opportunity for new startups looking to launch themselves in the market or the existing start-ups trying ways to grow their business.

Market Simplified has already partnered with Amazon Web Services (AWS) and used their cloud services to develop and deploy our platform on the cloud. We were also quoted as a case study in their website.

Market Simplified at AWS

Market Simplified Team at Amazon AWS

About AWSAmazon Web Services (AWS) is a secure cloud services platform, offering compute power, database storage, content delivery and other functionality to help businesses scale and grow. It is a subsidiary of Amazon.com and provides on demand cloud computing platforms to individuals, companies and governments. The AWS technology is implemented at server farms throughout the world, and maintained by the Amazon subsidiary.  They operate from many global geographical regions including 6 in North America. 

 About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

Apple’s Worldwide Developers Conference 2017 – WWDC’17

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wwdc

WWDC is a yearly affair for Apple and this year, it kicked off in San Jose. Apple unveiled its new versions of iOS, macOS, watchOS platforms; a connected home speaker device called the HomePod that will be shipping in December and a new iPad Pro Tablet.

Here is what Apple announced.

tvOS

The Apple TV is getting a big new content source, as Amazon Prime Video is coming soon to Apple TV and Apple’s newish TV app. Apple CEO Tim Cook promised more updates around tvOS later this year.

watchOS 4

Apple also announced a new version of watchOS, the software that powers the Apple Watch. It’s not nearly as big of a change as last year’s watchOS 3, but there are a few interesting new features.

  • A new Siri-powered watch face uses machine learning to customize its content in real time throughout the day, including reminders, traffic information, upcoming meetings, news, smart home controls, etc., when they’re supposed to be most relevant.
  • New fitness features include smarter workout controls, more prompts to set goals and two-way workout data exchange with certain gym equipment, via partnerships with major manufacturers. You’ll also be able to use the watch face as a flashlight or blinking light during runs — a neat safety touch.
  • The Apple Watch will also be able to better connect with other hardware gadgets, such as continuous glucose monitors, via Bluetooth.

macOS High Sierra

Apple isn’t doing a major macOS update this year — instead, the company has spent the year “perfecting it,” Apple SVP Craig Federighi said. This includes updates to Safari, including autoplay video blocking and “intelligent tracking prevention” to cut back at ad trackers; better Photos editing and organization; a faster new behind-the-scenes file system; a stronger updated graphics engine that supports VR development; and support for the Unity and Unreal gaming engines (which drew a round of applause from the developer audience).

New Macs, including the iMac Pro

Apple’s iMac is getting a nicer display, faster processors and graphics performance — suitable for VR content creation — more memory capacity and some new ports. The MacBook and MacBook Pro are getting faster chips and drives. The MacBook Air is getting a faster chip. And the 13-inch MacBook Pro is getting a lower entry-level price.

Apple also showed off a sneak peek at a new, high-performance version of the iMac — a 27-inch, darker grey iMac Pro, with up to 18 processor cores — that’s shipping in December. Starting at $4,999, this is designed for Pro users, including those waiting while Apple resuscitates its Mac Pro desktop.

iOS 11 including AR Kit and iPad-specific features

  • iMessages will now synchronize better between devices, and will free up storage space by offloading things like old photo messages to the cloud.
  • Apple Pay will now support person-to-person payments via iMessage, using a new “Apple Pay Cash” card.
  • Siri will translate queries into other languages, including French, Spanish and Chinese; will support more third-party apps via the SiriKit developers kit that Apple released last year; and will have more context for proactive suggestions. It will also start “reading” the text on your screen so you can do things like spell complicated words you’ve just looked at — like Reykjavik — more easily.
  • The camera will use more efficient algorithms and file formats for photos and videos, which means they’ll take up less space than before. (Apple seems to be moving beyond JPEG as the default for photos, which could raise some compatibility questions — more research to be done here.) Slick new tricks are on the way for Live Photos.
  • The lock screen and Notifications window — the two places you interact with notifications — are merging into one. The Apple Maps app will have more detailed airport maps for a selection of airports.
  • There’s a smart new “do not disturb while driving” safety mode, which will silence notifications, show a blank screen on your phone and auto-reply with an “I’m driving!” message while you’re driving.
  • Apple’s HomeKit service will now support multi-room home speakers from several major manufacturers, and a new AirPlay 2 feature will make it easier to play music and audio to other devices.
  • Apple Music is getting more social — Apple must really miss Ping! — and Apple is making it easier for developers to embed Apple Music into other apps and services.
  • Apple is redesigning the App Store for the first time, and it looks a lot like Apple Music — big promo art, a tab for games and more visibility into in-app purchases. App developers will also get some new features, including “phased releases” that will make it easier to launch major new updates.
  • IPad-specific features in iOS 11 — include a new dock for apps, a new multi-app view for multitasking, drag-and-drop support and a new Files app. It’s also easier to mark up screenshots and documents with the Apple Pencil stylus. And iOS will try to understand your handwriting in the Notes app so you can search the text.

Apple also has new tools for developers, including AR Kit for augmented-reality apps, which Apple is calling the “largest AR platform in the world.” (Facebook and Google have also recently touted AR platforms.) It will also offer new machine learning and natural language capabilities, including things like face tracking and photo recognition.

Highlight: While Apple is launching AR Kit this year, it’s not announcing AR features built directly into its own camera app yet.

IOS 11 will ship this fall, with a public beta starting this month.

iPad Pro 10.5-inch

Apple unveiled a new 10.5-inch version of the iPad Pro, its tablet for professional users. It has thinner borders around its edges, but still has a home button, and will support a full-width keyboard cover.

It features a better display with richer color and a new feature called ProMotion, which updates its content up to 120 times per second — making it feel smoother and more responsive. (This is particularly helpful when using the Pencil.) It’s also faster and will come with twice the standard amount of memory — 64 gigabytes.

The 10.5-inch iPad Pro will start at $649 and will start shipping next week.

HomePod: Apple’s new Siri speaker

Apple is taking aim at Sonos and the Amazon Echo with HomePod, a new “breakthrough home speaker” that it will start selling in December in white and space grey for $349.

Small but supposedly powerful, the speaker will sense the shape of your room and customize audio for its surroundings (and can be paired with a second HomePod for greater effect).

A “Musicologist” feature will respond to “Hey, Siri,” play from your Apple Music account and answer questions about the music it’s playing. It will also handle other Siri queries, such as weather, news, messages, podcasts, stocks, controlling smart home devices via HomeKit, etc.

Source – WWDC 2017: Everything important Apple announced at its big event, recode

New machine learning API to make mobile AI faster

Apple has also introduced a new Machine Learning framework API for developers named Core ML.

“The key benefit of Core ML will be speeding up how quickly AI tasks execute on the iPhone, iPad, and Apple Watch. This could cover everything from text analysis to face recognition, and should have an effect on a broad category of apps. It means, says Apple, that image recognition on the iPhone will be six times faster than on Google’s Pixel.”

The Core ML will support a number of a variety of Machine Learning tools including neural networks (deep, recurrent, and convolutional), as well as linear models and tree ensembles. Core ML is for on-device processing, meaning the data that developers use to improve user experience won’t leave customers’ phones and tablets – thus embracing privacy and security.

World without apps – Apocalypse

This year Apple also released a video on Apple’s idea of Apocalypse when our world is without apps. Here is the video.

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.

About the author: Girijashankar is a Classical Carnatic Vocalist and teacher who loves to perform. He is also a voracious reader and prefers to read books on crime and mystery. He is currently working as a Business Development Executive in Market Simplified.

See you all at BankTech Asia 2017!

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banktech asia

We are so excited to participate in this year’s BankTech Asia!

BankTech Asia is a yearly congregation of Fintechs and other financial institutions in the SEA region. This will be the 9th time in Kuala Lumpur. The event consists of a 2-day conference featuring over 20 experts and 3 concurrent streams that will look at various key developments in payments & transaction, retail banking technology and technology risk management.

These are the array of interesting conferences and contests that are part of BankTech Asia 2017.

  • Conference and panel discussions featuring industry experts would exclusively cover key topics such as
    • Artificial Intelligence
    • Open Banking 2017
    • Beacon Tech
    • Digital Wallets
    • Innovation Labs
    • Cyber Security
    • Data Driven Audit
  • FINMATCH: This session is designed to connect fintech start-ups with banks, VCs and regulators. It’ll be an intimate closed-door panel where leading banks and VCs will share what they’re looking for and regulators will share their views followed by a business matching session.
  • FINFIVE: BankTech Asia is scanning the globe for 5 leading fintech solutions to showcase to an audience of 200+ bankers at the 9th annual BankTech Asia event in Kuala Lumpur from 5-6 July 2017. The companies can apply for any of the following 6 categories.
    • Mobile/ Channel Solutions
    • Payments / Transactions / Remittances
    • Process Automation
    • Financial Inclusion
    • Security/ Identification/ Biometrics

About Market Simplified: Market Simplified is a thought leader in revolutionizing and digitizing products for financial institutions by continuously innovating and simplifying finance. We empower our customers with cutting edge digital experience that is highly personalized and enhanced for the end users with our ‘Experience Engineering’ platform driven by Analytics, AI, Machine Learning and Blockchain technologies. Our clientele includes industry leaders like OptionsXpress (Charles Schwab), Currenex (State Street), ThinkMarkets, MB Trading, Maybank Kim Eng, Kotak Mahindra Bank, National Stock Exchange of India and many others across the globe.