Jan 23, 2018 Nvoicepay Staff Writer
Top Stories in Accounting and Finance
The banking sector is finally posting a “Help Wanted” sign since the housing market crash of 2008. Banks are navigating new waters in hopes they can onboard candidates with a knack for fintech. The pool of hopeful hires in their sights are cybersecurity experts, fintech talent, and digital strategists. If you’re one on that list, chances are a bank is looking for you.
Calculating the perfect risk tolerance profile is fintech Riskalyze’s goal to help investors step out of their comfort zone, but not too far. CEO Aaron Klein shares what’s behind the technology that’s currently serving over 20,000 financial advisors: “I felt that for the average person, investing was broken. Our psychology tends to sabotage us when we invest.” Klein’s scientific approach to building a “Risk Number Model” identifies an individual’s risk tolerance based on how they value specific dollar amounts. This is wrapped into a larger algorithm that advises the best investment strategies based on an investor’s tolerance for risk. Risalyze hopes to provide a curated investment experience that focuses most of all on the client-advisor relationship.
Companies seeking reinvention by pivoting to blockchain are making a splash economically speaking, and intrepid day-traders are making money riding those waves. When share prices spike, day-traders are there to binge as much crypto as possible before selling it off. While it’s not for the faint of heart or fiscally responsible, it has some investors questioning whether there really is something to making a quick buck, that is, if you can stomach the wild fluctuations.
It sounds like something out of an dystopian futuristic novel: the discovery of two major flaws in microprocessors of almost every computer in the world. Except it’s true. The New York Times reports on the virtual hangover of cybersecurity attacks the United States experienced in 2017. And while the need for a fresh start in the New Year is an understatement, new, more stringent consequences are being demanded for companies who are wan to protect the security of consumer information. If it’s sounding like early alarm bells, it’s meant to, as the article cleverly parallels the Wild West of Enron before the Sarbanes-Oxley act crack down. The hope is this: digital natives will expect more of their institutions surrounding cybersecurity, and will demand appropriate consequences when data is compromised.
—New York Times
Fintechs are working around the clock to solve the problem of the underbanked, and it’s a big problem. According to the Consumer Financial Protection Bureau, one in five of the adult population lack a credit history significant enough to obtain a credit card. But fintech startup Petal is changing all of that, led in a Series A round of funding by Peter Thiel’s Valar Ventures, no less. With 40,000 applicants in line, those interested will have to join a waitlist.