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.
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.