In 2020, we will see substantial increases in wireless data speeds as well as new applications and business models that will leverage fifth-generation (5G) wireless and Wi-Fi 6 (802.11ax). Both technologies will give enterprise users, consumers, and, yes, attackers the ability to rapidly transfer an enormous amount of data using new devices that will become available in 2020. The potential impact of these wireless technologies should be included in enterprise risk assessments and factored into policies such as bring your own device (BYOD). Coupled with a marked increase in mobile malware attacks in 2019, introduction of new wireless devices supporting 5G and Wi-Fi 6 will necessitate a deeper look at mobile device policies and defenses in 2020.
Individual coverage health reimbursement arrangements (ICHRAs) and their sisters, excepted benefit HRAs (EBHRAs) and qualified small employer HRAs (QSHRAs), are ringing in the new year as the new shiny thing in health benefits. The excise tax for high-cost employer-sponsored health plans looms over health plans, and presidential candidates are betting on entirely different health insurance delivery models that give health plans the shivers, as seen from a range of efforts to discourage or bury the possibility altogether. The question for 2020 then, is which health plans can adapt to change—challenging or not—and survive.
The RIA market is one of the fastest-growing industry segments in the wealth management market in the United States (see Aite Group’s New Realties report). The RIA market growth has outpaced any other full-service business model for over a decade now. The fee-based nature of the RIA space paired with a fiduciary standard of care has made this market segment very attractive for breakaway brokers (i.e., financial advisors leaving large institutions), digital startups, custodians, and asset managers alike.
I recently had the opportunity to take a public tour of an Amazon fulfillment center in Texas. It was an amazing experience and left me with a clear impression that loss of availability can have a colossal and devastating cyber impact on any organization with complex supply chains or time-sensitive customer services. We all focus on confidentiality of data, but in this case, availability took center stage.
Commercial lending is a crazy business right now. There is far too much capital sloshing around the economy, driving down costs to borrowers and making it hard for lenders to get paid for the riskiness of the loans they extend. Pricing is so disconnected from risk, in fact, that it’s common for bankers to refer to commercial lending as “a loss leader.” Really? All that work fielding loans, underwriting them, getting collateral, securing it, and negotiating the underlying terms for a “loss leader”? This scares me, and it should scare you too.