Interesting news on banking and articles which deserve 20 minutes of your time on a Friday evening.
From Tapzo team
Chat Sucks! But bankers get seduced by it. Here’s why.
Back in early 2015, we thought that chat would become a universal UI because people were really using chat like crazy on their mobiles for P2P messaging…Finally somewhere in Sept 2015, it became obvious to us that the problem was chat.
In the news
Paytm sets up investment and wealth management unit – Paytm Money
It is already in discussions with leading asset management companies (AMCs) to offer mutual fund investments in direct mode for users. The company plans to initially not charge any fee or commission from users who invest in mutual funds via Paytm Money.
Source: Business Standard
PhonePe to widen number of in-app stores on its platform
PhonePe will offer a range of services, including bus ticket bookings, food ordering etc. through tie-ups with service providers. “The experience for customers is seamless and their payments history and preferences will be integrated in the in-app stores. Apart from the experience, customers will also be getting multiple apps in the same app” said Rahul Chari (CTO PhonePe).
This week’s Bitcoin crash was all about fraud and regulation
Cryptocurrencies have had a rough week: the value of bitcoin plunged to a mere 50% of its 2017 peak, and other currencies, such as Ethereum, Ripple, and Litecoin have seen double-digit losses compared to their heights from last year. This week also witnessed the collapse of BitConnect, an anonymously operated crypto exchange that had been repeatedly accused of running a Ponzi scheme via its proprietary BCC currency.
Source: The Verge
Andrew Ng – The State of Artificial Intelligence
In this short video Andrew Ng (VP & Chief Scientist of Baidu; Co-Chairman and Co-Founder of Coursera; and an Adjunct Professor at Stanford University) beautifully describes the current capabilities of AI and gives a real path for organizations that truly want leverage big data and AI.