The race to offer deposit, savings, or “cash” accounts adjunct to existing financial services solutions and nonbank brands continues at full swing, with Credit Karma announcing a high-yield savings account feature on October 3, 2019. On the same day, Samsung—in partnership with Netspend—announced Samsung Pay Cash, an addition to the Samsung Pay digital wallet that allows users to store cash and conduct transactions anywhere Mastercard is accepted, all through the existing Samsung Pay environment.
The butterfly effect, a concept originating in chaos theory, describes how small changes can have a nonlinear impact on a complex system, such as the flap of a butterfly's wings causing a typhoon thousands of miles away.
The idea here is that small changes—the burgeoning amount of unstructured data being generated in the enterprise, the interminable event fatigue problem created by false positives in security information and event management (SIEM) solutions, and the global talent shortage in cybersecurity that makes finding affordable security operations center (SOC) analysts difficult—are ushering in a big change as the sun begins to set on SIEM technology.
The third-party debt collection industry—comprising collection agencies, business process outsourcers, debt buyers, and law firms collecting debt—is at a critical crossroads. Some collection firms are innovating to meet rising challenges while others are languishing and allowing their clients to view their services as a commodity.
From my first days as a private in the Army so many years ago, it was drummed into me that I needed to “know the enemy.” At that time, my platoon was regularly shown photographs and movies that depicted Soviet and Warsaw Pact soldiers in various states of fierceness. I have memories of the visions of hordes of burly soldiers in Soviet uniforms bounding through the snow and doing aggressive maneuvers. Our unit spent countless hours studying Soviet equipment, identifying tanks and aircraft, and delving into minutiae like a Soviet solder’s daily routine and diet. Yes—we knew our enemy.
For decades, sovereign wealth funds (SWFs) have preferred to remain in the shadows. Little was known about them and their nature as long-term passive investors helped keep it this way. In recent years, however, the nature of SWFs has begun to evolve. Alongside accumulating a large and growing pool of capital, the profile of sovereign wealth has been boosted by high-profile investments in disruptive technology giants, such as Uber and WeWork; a growing appetite to develop their own internal operations; and the close relationship between SWFs and national governments. In this post, I will outline three ways in which SWFs are becoming increasingly serious and influential players in the asset management space.