BizTech

Business and Technology News from NUS

Month: May 2018

How far is the Fintech industry expected to grow in 2018?

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When it comes to fintech, Singapore is undoubtedly a world leader. A recent report suggested that only London is ahead of the Lion City, with Singapore ranking ahead of the likes of New York, Silicon Valley, Hong Kong, Sydney and Zurich.

This standing puts the city state in a great position to capitalize on the benefits to be had from this rapidly growing industry. Global investment in fintech, for example, was $8.2 billion in the third quarter of 2017 alone.

There’s no sense that Singapore is sitting still either. At the end of 2017 it played host to the Festival of Finance – the world’s biggest fintech event – and at that meeting the central bank announced 11 new fintech initiatives to drive growth, including a new industry-wide platform to help with compliance checks. The new measures followed a fortnight on from an announcement of 1,000 new fintech jobs being created.

Singapore has its eyes on the prize, but what is the scale of that prize? To understand the drive to invest in fintech, and the opportunity posed, it pays to look at the many ways in which this is expected to grow in 2018.

Ten ways fintech will grow in 2018

In its ‘Fintech Pulse’ report, KPMG identified ten predictions for the market for 2018. It identified:

  1. That the scale and scope of AI use will grow
  2. Investment in regtech will increase
  3. Providers will come closer together to collaborate
  4. Online mortgage technology will grow
  5. Potential for an increase in blockchain use
  6. Open banking to spread worldwide
  7. New challenger banks will continue to spring up
  8. Bigger investment in insuretech, such as telematics for insurance
  9. Mature companies to broaden their offering
  10. Closer relations to emerge between fintech firms and tech giants

Each of KPMG’s ten points shows why the potential for growth is so large – and how far the fintech industry could push progress this year. It’s certainly no exaggeration to say that we could see progress on each of those ten points – although it’s also worth stressing that this growth won’t just be confined to this calendar year either. Countries such as the UAE are spending the next two years pushing ahead with a technological revolution to embrace cashless payments, for example.

One thing is clear, however, fintech sits at the heart of a whole web of potential changes – each of them with the capacity to capture financial growth. Being a market leader in fintech means more than just being a leader for financial services – although clearly this is important for places such as Singapore – but it also means being able to be a pioneer when it comes to blockchain and AI too.

Given the range of different avenues for growth – and the fact that banks, central banks, governments, financial services firms, tech start-ups and others are all involved in this – we can see that developments in fintech could well be key to unlocking wider economic growth. The results of which will be felt everywhere from the forex market to the pockets of individual consumers. However you choose to measure it – adoption, money, reputation – significant growth is inevitable for fintech in 2018.

Importance Of Media Training

It is always important to establish a good relationship with the media. Everyone in the world needs media as it is an excellent tool used to store and deliver information to specific target audiences. Therefore it does not matter whether one is a spokesperson of a big company, an employee, a small business owner or someone with a message to share with the public; it is always important to understand how the media works. This is where media training comes in handy.

Media training is all about coming up with the best ways of interacting with the media in order to get the best coverage. It all depends with the kind of media a company or an individual is relying on and it may be print, online or electronic media. Media training is an essential tool and should not be seen as a public relations add-on. The core goal of media training is to build confidence and gain control when dealing with media outlets.

Significance of Media Training

When dealing with any form of media, one does not only just gain confidence, but also gets to learn many essential things in life. In essence, there are notable benefits of media training that one should keep in mind all the time. They include:

  • Learn how to speak in a way that an audience easily comprehends

Through media training an individual learns how to use words and in the right manner. The audience will not just listen to a speaker’s words, but also will put into consideration his or her body language and facial expression. Many people fear to speak to the media but with proper training, one gains immense confidence and understands interview skills that are essential in marketing and PR.

  • Learns to clearly define key messages

A good speaker should be able to define his or her key message when being interviewed by media. However, without proper communication training, it is not easy to convey the message to targeted audience. Whenever speaking to the media, the speaker should not have more than five key messages as he or she will water down the impact of the message he or she is trying to put across.

  • Learn how to respond to difficult questions

In the moment of crisis in an organization, people will be asking a lot of questions and the media will be the best place to come out and clear the air regarding the disaster at hand. Through proper media training, one will learn how to maintain composure throughout an interview and create the best outcome. One will also learn how to steer the interview in his or her direction and deliver the right message.

  • Avoid getting misquoted

In many occasions people get misquoted if they go to the media without proper preparation and without having the right understanding of the message they want to pass across. Through media training, one learns specific skills of deliver the message clearly, effectively and concisely so that they are not misquoted.

Media training will never go out of fashion and one should seek professional training before the need arises. One can become a better communication expert by minding his or her gaps in communication. There are institutions that offer media training and it is never late to enroll in one of them and gain the required communications skills.

This article was written by the NUS community. If you would like to contribute your article, please get in touch.

How magnetic card readers are redefining business

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One of the toughest things for a business is to comply with customer requirements. And that’s why it can be a really good idea for a company to buy a magnetic card reader. There’s a reason why this unit works really well.

Most companies find it very hard to offer support for credit cards and stuff similar to that. But customers don’t want to have cash in their pockets. They want more convenience, so they want to pay for their stuff with a credit card. The magnetic card reader successfully manages to achieve such a goal, and it’s really helpful in that regard. While there are always some challenges when it comes to selecting a good

What can a magnetic card reader do for you?

The magnetic card reader is pretty much an indispensable unit that will offer you just about all the features and value you need. It makes it easier for customers to get a good value for their money. And the attention to detail put into this is nothing short of unique in its own right. There’s always a challenge when it comes to integrating new tech in the store. But using such a card reader is really simple.

The best units on the market are all about value and quality, and that does bring in front some really nifty benefits as you go along. It definitely makes a lot of sense to focus on using this approach, as it can work quite well for you. Adapting everything to suit your needs is not that easy at first, but it can do wonders as long as you use this correctly, which shouldn’t be a huge problem to begin with.

Is it expensive to add a magnetic card reader to your business?

It all comes down to the model you choose to use and a variety of other factors. But for the most part that won’t be as hard as you would imagine. It’s a great opportunity to focus on, and one that can bring in front a whole lot of wonders. The idea here is to offer your customers some new ways to achieve their goals. And what can be better than having a dedicated card reading solution to help you with that. This is certainly worth it and it can bring in front some good features that you want to focus on.

It won’t be very easy to integrate any magnetic card reader in your company, but most modern solutions tend to deliver all the features that you would expect from something like this. As long as you adapt everything to suit your needs, the outcome can be a really good one actually. It all comes down to finding the right focus, and once you do that nothing will stand in your way. Rest assured that the magnetic card readers are very good for your company and you can actually earn more within your business. It all comes down from having the right approach and using the best perspective.

This article was written by the NUS community. If you would like to contribute your article, please get in touch.

Tools and technologies: building sharp and efficient corporate managers through online learning

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Online learning can be very efficient and convenient, saving time and money for a variety of people. These can range from high school graduates to working professionals and more.

Many have taken to the vast pool of resources that can be found online in order to expand their horizons through e-learning, opening up previously unknown possibilities for self-development and enrichment.

People across the globe can now learn remotely and at their own time and pace without the need to be tied down to any specific location.

Through the use of the internet, today, a management trainee in Asia can simply plug into his/her course modules hosted on a server all the way in the United States and continue his/her education during downtime at the office.

Now, we also live in a world where previously lesser known concepts such as agile management are beginning to come to the forefront. Agile Estimating And Planning training is now important to businesses worldwide and can be learned online as well.

The internet is a vast ocean of possibilities with resources that cater to dynamic learning as opposed to the traditional methods that much of education has been built upon.

Learners were once bound to their desks and classrooms with only their paper textbooks while the pace and content of lessons continued to be largely determined by teachers/academics.

In contrast, the online learner has access to a whole host of learning methods. Online learners can make use of self-learning, user-generated content and more, enabling the entire learning experience to be customized and tailored to his/her own preferences.

With an abundance of tools and technologies available to enhance and complement the e-learning process, learners today are spoilt for choice.

With an internet connection and an adequate device, education is theirs for the taking.

E-learning modules can take a holistic approach as well.

Through the use of multimedia, it can fuse computer games with text documents, videos and all kinds of other resources.

Interactive elements can also be built into online courses and can be made up of quizzes as well as simulations of real-world scenarios.

With the tools and technologies available today, learners can also become content creators/publishers themselves with software available to help them create high quality, interesting and graphically rich presentations.

Gamification in e-learning offers learners a learning environment built on game mechanics, keeping them engaged while letting them have fun in the process. It can help make learning more enjoyable and also help learners retain the concepts and skills that they learn.

While Virtual reality and augmented reality are mostly known for their entertainment value, they can also play a significant part in training professionals and employees as well as business leaders. A large part of their effectiveness comes from bringing lessons into reality and these tools can help learners become more empathetic.

Mursion, for example, provides a virtual reality environment that engages players through complex, interpersonal challenges.

Many professionals across different sectors use Mursion to practice their interpersonal skills and to simulate interpersonal challenges that they may face.

This article was written by the NUS community. If you would like to contribute your article, please get in touch.

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