Connect with us

Covid19

Biden Administration Will Rename ‘Operation Warp Speed,’ Citing Trump ‘Failures’

Avatar

Published

on

Dr. David Kessler (top right during a briefing before the election) has been a top coronavirus adviser to President-elect Joe Biden for months. Drew Angerer/Getty Images hide caption

toggle caption

Drew Angerer/Getty Images

The White House push to vaccinate against the coronavirus will have a new name and new leadership under the Biden administration.

The “Operation Warp Speed” name will be retired, incoming White House press secretary Jen Psaki tweeted on Friday. She said there was an “urgent need to address the failures of the Trump team approach to vaccine distribution.” Psaki did not say what the new name will be.

Psaki added that many of the same civil servants will be involved in the response, but the structure will be changed.

Earlier on Friday, the Biden transition team announced that Dr. David Kessler will be the White House’s chief science officer for the COVID-19 response.

Kessler led the U.S. Food and Drug Administration from 1990 to 1997 and is known for his efforts seeking to prevent transmission of HIV/AIDS. For months, he has been a top coronavirus adviser to President-elect Joe Biden.

The Trump administration has been criticized repeatedly for its response to the pandemic and has recently faced questions about the speed and effectiveness of its vaccine rollout. It fell considerably short of its goal to immunize 20 million people by the end of 2020.

The Biden transition team has said it wants to distribute 100 million vaccine doses during the administration’s first 100 days in office. Psaki said Kessler “will focus on maximizing the current supply of vaccines and work with manufacturers to help get more vaccines online as quickly as possible.”

Source: https://www.npr.org/sections/coronavirus-live-updates/2021/01/15/957261530/biden-administration-will-rename-operation-warp-speed-citing-trump-failures

Covid19

Benefits of eating spinach

Avatar

Published

on

Continue Reading

Covid19

PTSD in patients with severe cases of COVID-19

Avatar

Published

on

PTSD after COVID-19 infection

An observational study was conducted through the Fondazione Policlinico Universitario Agostino Gemelli IRCCS (Rome, Italy) to determine if those who experienced severe COVID-19 infections developed posttraumatic stress disorder (PTSD).

There were 381 participants involved in the study ranging in age from 18 to 89, which took place from April 2020 to October 2020. Approximately 80% of patients were hospitalized due to the severity of their COVD-19 symptoms, all of which recovered from their infection within 30-120 days. The average number of days spent in the hospital by participants was 18.41 days. Both medical and psychiatric assessments were completed for each individual that participated in the study upon after recovering from COVID-19 infections.

Trained psychiatrists were able to diagnose participants based on criteria associated with PTSD and other psychological disorders. Over 30% of individuals were found to have experienced PTSD after COVID-19 infection, which can be attributed in part to experiencing a traumatic event. In addition, other disorders such as generalized anxiety disorder and depressive episodes were observed in participants.

One of the factors that are often associated with PTSD is biological sex, as females are more likely to experience the disorder when compared to men. Of the 381 participants, almost half (43.6%) were female. Those who had a history of mental health issues, such as anxiety and depression, were also more likely to experience PTSD. Lasting symptoms even after recovering from the virus would be another factor that would increase the risk of experiencing PTSD after COVID-19 infection.

It should be noted that only a small number of participants were involved in this study. Additionally, there was no control group involved in the study that examined patients who were admitted to the emergency rooms for cases that were not related to COVID-19. Following recovery, this control group that was not infected with COVID-19 could be monitored to determine if they were experiencing PTSD or other related disorders. This would allow better connections to be made between PTSD and COVID-19 infection, while taking into account potential impacts of just being in the emergency room during a pandemic.

This study is important for a number of reasons. First, the results highlight the importance of understanding the long-term effects of COVID-19 infection. Although an individual may have physically recovered from COVID-19, there is the potential to develop other disorders such as PTSD from the associated trauma. Risk factors like biological sex and a history of mental health issues should also be taken into consideration when providing follow-up care for patients that have recovered from COVID-19.

Source:

Janiri D, Carfì A, Kotzalidis GD, et al. Posttraumatic Stress Disorder in Patients After Severe COVID-19 Infection. JAMA Psychiatry. Published online February 18, 2021. doi:10.1001/jamapsychiatry.2021.0109

Image by Gerd Altmann from Pixabay 

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://medicalnewsbulletin.com/ptsd-after-severe-covid-19-infection/

Continue Reading

Covid19

APAC Banks Race to Revitalise Their Digital Transformation Programmes

Avatar

Published

on

The second edition of the Fintech and Digital Banking 2025 in Asia Pacific report by IDC commissioned by Backbase, reveals that APAC banks are going back to the drawing board on their digital transformation programs.

Digital banking fitness has been the key factor, with digital banks enjoying three times the growth in customer bases compared to traditional banks.

In response, incumbent banks are reinvigorating digital transformation initiatives, having had to accommodate at least a 50% growth in the quantity of digital customer transactions and interactions.

It is expected that organisations will undertake a comprehensive realignment of customer engagement projects, with the report having highlighted that digital capabilities are the key to resilience and winning the race to recover from pandemic-related setbacks.backbase IDC

New competition in an evolving banking landscape

While the APAC banking landscape saw the departure of some neobanks and fintechs due to COVID-19 challenges, the report predicts that we will still see 100 new challengers across the region by 2025.

With new challengers presenting stronger post-pandemic propositions, there will be at least two digital banks in every APAC market that will pose a significant challenge to incumbents.

The remaining neobanks and second-round players are expected to compete on being digital-first.

Some fintechs that had gained sufficient size by 2019 found success, gaining more market share than expected. Fintech categories that have typically shown success include payments, wealth advisory, alternative data, lending platforms, and account origination.

Traditional banks double down on digital

Meanwhile, traditional banks are increasingly focused on being digital-first. Innovation initiatives are expected to re-accelerate in 2021, and will most likely have a higher chance of
success as banks restructure their agile and DevOps teams. 50% of Tier 1 banks already have agile frameworks in place.

The report also found that digital banks have seen three times the growth in their customer bases compared to traditional banks in 2019 and 2020.

Investments in digital channels have paid off as banks have been growing strength to acquire new customers, expand share of wallet, and push more products.

44% of the top 250 banks in APAC will leverage platforms with componentised modernisation and API-enablement.

backbase IDC

Strategic investments and growth priorities for 2025

Technology spending on governance, risk, and compliance saw double-digit growth in 2019 and 2020, while other areas of investment lagged behind.

The report found that 60% of banks in Asia Pacific will leverage artificial intelligence (AI) or machine learning (ML) technologies for data-driven decisions, compared to 48% from the previous year. One result of this is a more humanistic type of customer centricity, as the economic downturn required banks to communicate with customers in an empathetic, trustworthy and reliable way.

This has been complemented by the increased integration of human agents into customer engagement strategies, as contact centers saw surges in usage.

A back-to-basics trend has also overtaken the need for new revenue sources. Banks will be focusing on digitalising their core business of lending with some focus, subsequently, on deposits.

New capabilities will be acquired from fintech partners by the middle of 2021, 50% of lending decisions in retail banking will be supported by fintech propositions, underscoring the accelerating bank-fintech collaboration.

CEO for Backbase, Jouk Pleiter

Jouk Pleiter

Jouk Pleiter, CEO of Backbase said,

“This report highlights the COVID-19 challenges faced by the various players in the banking and fintech landscape, as well as the need to accelerate digital transformation initiatives to thrive in a post-pandemic world.

At Backbase, we are committed to future-proofing the banking industry for a digital-first world. We will continue to focus our efforts on helping our customers in Asia Pacific adapt and innovate at the speed of digital.”

Michael Araneta, Associate Vice-President of IDC Financial Insights, Asia Pacific

Michael Araneta

Michael Araneta, Associate Vice-President of IDC Financial Insights, Asia Pacific added,

“The events of 2020 have shown the resilience of the financial services industry, and that organisations must refocus their efforts on becoming even more customer-driven and platform-oriented.

The insights from this report will help banks, neobanks and fintechs identify key areas of investment in preparation for 2025 and beyond.”

Print Friendly, PDF & Email

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://fintechnews.sg/49345/covid19/apac-banks-race-to-revitalise-their-digital-transformation-programmes/

Continue Reading

Covid19

MAS and ABS Urges Financial Institutions to Manage Emerging Risks of Remote Working

Avatar

Published

on

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) jointly issued a paper on managing new risks that could emerge from extensive remote working arrangements adopted by financial institutions (FIs) amid the COVID-19 pandemic.

The “Risk Management and Operational Resilience in a Remote Working Environment” is part of the ongoing collaboration between MAS and ABS’ Return to Onsite Operations Taskforce (ROOT), to coordinate responses to the crisis and prepare for a post COVID-19 new normal.

The paper highlights that, in view of the protracted remote working arrangements and the likely adoption of hybrid working arrangements in future, it is important that FIs remain vigilant towards remote working risks and take pre-emptive steps to mitigate them.

The paper seeks to raise awareness of key remote working risks in the financial sector, share good practices adopted by FIs to mitigate key remote working risks, and encourage all FIs to adopt good practices on managing remote working risks.

The paper also looks at possible risks to FIs in the areas of operations, technology and information security, fraud and staff misconduct, and legal and regulatory risks.

Furthermore, it examines the impact on people and culture that may be brought about by remote working, drawing from the experiences of ABS member banks.

MAS encourages FIs to benchmark their remote working controls against the examples in the paper as well as to continually review and enhance their risk management practices to address evolving risks.

The risks and risk mitigation measures set out in the paper are also applicable to non-FIs.

Ong Chong Tee, Deputy Managing Director (Financial Supervision), MAS

Ong Chong Tee

Ong Chong Tee, Deputy Managing Director (Financial Supervision), MAS said,

“Financial institutions in Singapore have swiftly adapted to remote working and split-team arrangements in response to COVID-19. The operational resilience of our financial institutions during this period reflects the soundness of their business continuity management plans.

It also underscores the importance of regular tests through internal drills and industry-wide exercises jointly organised by the MAS and the financial industry.”

Samuel Tsien, Chairman of ABS said,

Samuel Tsien ABS

Samuel Tsien

“ABS and ROOT, working together with MAS, coordinated the financial sector’s response to the crisis. The good practices are now captured in this Paper.

It will serve as a valuable reference guide to all banks as remote and flexible work arrangements continue to be adopted as the pandemic evolves. The paper is also a good guide to banks when dealing with other types of crises”.

Print Friendly, PDF & Email

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://fintechnews.sg/49309/covid19/mas-and-abs-urges-financial-institutions-to-manage-emerging-risks-of-remote-working/

Continue Reading
Gaming5 days ago

Betfred Sports, Represented by SCCG Management, Signs Multi-year Marketing Agreement with the Colorado Rockies

Blockchain4 days ago

‘Bitcoin Senator’ Lummis Optimistic About Crypto Tax Reform

Blockchain4 days ago

Dogecoin becomes the most popular cryptocurrency

Blockchain4 days ago

Billionaire Hedge Fund Manager and a Former CFTC Chairman Reportedly Invested in Crypto Firm

Blockchain4 days ago

Bitcoin Price Analysis: Back Above $50K, But Facing Huge Resistance Now

Blockchain4 days ago

NEXT Chain: New Generation Blockchain With Eyes on the DeFi Industry

AR/VR5 days ago

‘Farpoint’ Studio Impulse Gear Announces a New VR Game Coming This Year

Blockchain4 days ago

Institutional Investors Continue to Buy Bitcoin as Price Tops $50K: Report

Big Data2 days ago

Online learning platform Coursera files for U.S. IPO

Blockchain4 days ago

Elrond & Reef Finance Team Up for Greater Connectivity & Liquidity

Blockchain4 days ago

Here’s why Bitcoin could be heading towards $45,000

Blockchain4 days ago

SushiSwap Goes Multi-Chain after Fantom Deployment

Blockchain5 days ago

Dogecoin price reclaims $0.050 as crypto firm supports DOGE at 1800 ATMs

Blockchain4 days ago

UK Budget Avoids Tax Hikes for Bitcoin Gains

Blockchain4 days ago

eToro and DS TECHEETAH Change Face of Sponsorship With Profit-Only Deal

Blockchain4 days ago

Ethereum’s price prospects: What you need to know

Blockchain4 days ago

Apple Pay Users Can Now Buy COTI Via Simplex

Blockchain5 days ago

Calls for Bitcoin Breakout Above $50,000 Grow; 3 Reasons Why

Blockchain4 days ago

Tron Dapps Market Gets A Boost As Bridge Oracle All Set to Launch MainNet Soon

Business Insider2 days ago

Wall Street people moves of the week: Here’s our rundown of promotions, exits, and hires at firms like Goldman Sachs, JPMorgan, and Third Point

Trending