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Digital Banking: Line Introduces Virtual Bank Platform via Partnership with PT Bank KEB Hana Indonesia

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Line has reportedly introduced its third digital banking platform in Southeast Asia through a partnership with PT Bank KEB Hana Indonesia.

The introduction of the smartphone-only bank in Indonesia has come after similar launches in Taiwan and Thailand.

The partnership between Line and Hana Bank Indonesia was formed back in October 2018, when Line Financial Asia had acquired 20% of Hana Bank Indonesia via a Share Subscription Agreement.

The new virtual banking platform will provide various user-friendly financial services such as a savings accounts, time deposits, easy bill payments, and debit cards with convenient access to Hana Bank ATMs for making cash withdrawals. Other features are currently being developed and may include loans and QR-enabled payments.

Young Eun Kim, Chief Operating Officer at LINE Financial Asia, stated:

“The demand for digital transformation in the banking industry is growing rapidly all around the world. In Indonesia in particular, due to this market’s unique geographical characteristics, we believe bringing banking services to people’s mobile phones will greatly increase their availability and convenience.”

Line says that it’s hoping to achieve the same level of success of its recently-introduced banking platforms in Thailand, which has already onboarded around 2 million users within its four months of operations.

In March of this year, the firm also formed a partnership with Mizuho in order to invest in a new digital banking joint initiative in Japan.

Virtual or online banking services have become increasingly important in a post-COVID business environment.

Earlier this year, Standard Chartered teamed up with Indonesia’s Bukalapak in order to offer digital banking services which will be hosted via the Nexus platform, an established Banking-as-a-Service (BaaS) solution by SC Ventures.

Standard Chartered and Bukalapak will be working closely so that they can provide innovation in financial and digital commerce solutions by offering various financial services via Bukalapak’s growing ecosystem.

Through the partnership, both companies are also planning to promote greater financial inclusion in the country as Bukalapak claims to have extensive coverage to 100 million consumers and many local merchants.

A survey conducted by Standard Chartered found that the Coronavirus outbreak served as a catalyst or accelerated the growth of online financial activities and businesses, with more than half of respondents saying they use more online services in a post-COVID environment. In fact, 56% of Indonesia-based consumers now prefer making payments and purchases via all-digital platforms, an increase of around 16% when compared to pre-COVID levels.

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Source: https://www.crowdfundinsider.com/2021/06/176534-digital-banking-line-introduces-virtual-bank-platform-via-partnership-with-pt-bank-keb-hana-indonesia/

Crowdfunding

Why Does this Perfume Smell Like Gas?

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Take a Look at these Pandemic Tattoos

2020 was a historic year. Perhaps that’s why so many people are getting something special to remember everything that happened. Get the scoop »

This MIT Robot Will Get You Dressed in the Morning

Sometimes, even everyday tasks like getting dressed can be exhausting. But now there’s a robot from MIT that can help »

From New York to Chicago — In Minutes

How fast is this new high-speed train? So fast that you could grab a deep-dish pizza in Chicago, and enjoy a Broadway show in New York… in the same afternoon »

Curing Cancer Just Got Easier

Doctors just discovered that there’s a single protein linked to all kinds of cancer. And now, by targeting this protein, finding a cure for cancer might be more feasible. Learn more »

Why Does this Perfume Smell Like Gas?

In a recent survey, 20% of drivers said they were hesitant about switching to electric vehicles because they’d miss the smell of gasoline. But thanks to this new invention, now the switch should be easy »

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdability.com/article/why-does-this-perfume-smell-like-gas

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LEAKED: Startup Profits Revealed

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How much money could you potentially earn by investing in startups?

Well, if you’re a longtime reader here, you’ve seen countless studies on the returns you could have made in the private startup market.

But what about real-world numbers? In other words, actual profits that came from startup investments over long periods of time?

Well, that’s precisely what I want to show you today. You see, a well-known startup investor recently “leaked” his firm’s profit numbers from the past decade.

Today, I’ll share those numbers with you…

So you’ll be able to determine for yourself whether they live up to the hype.

Mutual Funds for Startups

Before we dive into the numbers, first let me explain where they came from.

Professional startup investors are called Venture Capitalists. And their firms are called Venture Capital Funds.

These funds are similar to mutual funds — but instead of investing in a portfolio of publicly traded stocks, they invest in a portfolio of startup companies.

One well-known venture fund is called Union Square Ventures (USV). Its offices are just around the corner from Crowdability’s headquarters in New York City.

USV was an early investor in startups including Tumblr (acquired by Yahoo for $1 billion) and Twitter (which now has a $56 billion market cap).

Profits Revealed

But Tumblr and Twitter are examples of its successful investments.

What about its not-so-successful ones? Or the ones where USV lost money?

Until recently, few people knew what the firm’s true overall returns looked like…

But a few days ago, the firm’s founder and Managing Partner, Fred Wilson, published a blog post including data on the firm’s REAL returns from the past decade.

According to Wilson, over the past 10 years, USV has earned an average of 58.6% per year.

That’s amazing. To put it in context, it’s nearly 10x higher than the stock market average of 6% per year, and it’s even higher than Warren Buffett’s average annual return of 20% per year.

And keep in mind: that figure includes USV’s winners and losers.

Not a Surprise!

To many people, these results were shocking…

But Matt and I weren’t surprised at all.

You see, we’ve been tracking and investing in this market for a long time. So we know how profitable it can be to invest in early-stage private startups.

For example, a couple of years ago, we reviewed a study from an investment research firm called Cambridge Associates. Cambridge advises some of the largest investors in the world — institutions like Harvard University and the Bill Gates Foundation.

In this study, Cambridge published the results on the long-term returns generated by early-stage startup investments. Simply put, it found that, over 25 years, a portfolio of startups generated an average return of 55% per year.

And as you can see, this study matches the real-world returns of USV almost perfectly!

Now It’s Your Turn to Get Started!

After reading this essay, you might be champing at the bit to dive into startup investing.

Well, our mission is to make that as easy — and as profitable — for you as possible.

Which is why Matt recently sat down for a 60-minute interview to reveal our proprietary strategy on Pre-IPO Cheat Codes.

As you’ll see here, these simple codes show you how to get access to the world’s next billion-dollar companies — while they’re still tiny (and cheap) startups.

Click here now to watch the full interview »

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdability.com/article/leaked-startup-profits-revealed

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Crowdfunding

Changing UK Cybercrime Patterns Outlined in PPC Shield Report

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British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for 43 per cent of all reported activity. Malware/viruses, personal hacking and extortion are also common.

The under-40 crowd has reported the most incidents this year with 5,000, suggesting scammers and hackers are predominantly targeting those used to juggling multiple social media accounts, email addresses and banking apps.

While corporate cybercrime only accounts for 10 per cent of reported incidents, the £1.9 million in damages are one-third of the total figure.

The effects take a mental toll. According to ONS data from the Crime Survey for England and Wales (CSEW), 72 per cent of victims said they had been emotionally affected by their experiences, with almost one third indicating a moderate to severe impact –  mostly annoyance and anger. Ten per cent said they experienced anxiety, depression, fear and sleep disruption.

Four out of five offences (81 per cent) were committed by an individual (not an organization) that was unknown to the victim. According to Google, malware is being used less than at any point since 2007, but phishing websites have grown by 750 per cent. One in three folks who lost money learned through their financial institution.

When non-cyber assisted fraud is factored in, UK authorities have so far received 253,736 reports totalling £1.2 billion in losses this year. They have issued public warnings of phishing scams conducted over the course of the COVID-19 pandemic, with an increase in fraudulent text and calls to mobile phones, as individuals posing as bank employees, HMRC and even the NHS charging for fake COVID tests and track and trace.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178444-changing-uk-cybercrime-patterns-outlined-in-ppc-shield-report/

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Crowdfunding

Changing UK Cybercrime Patterns Outlined in PPC Shield Report

Published

on

British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for 43 per cent of all reported activity. Malware/viruses, personal hacking and extortion are also common.

The under-40 crowd has reported the most incidents this year with 5,000, suggesting scammers and hackers are predominantly targeting those used to juggling multiple social media accounts, email addresses and banking apps.

While corporate cybercrime only accounts for 10 per cent of reported incidents, the £1.9 million in damages are one-third of the total figure.

The effects take a mental toll. According to ONS data from the Crime Survey for England and Wales (CSEW), 72 per cent of victims said they had been emotionally affected by their experiences, with almost one third indicating a moderate to severe impact –  mostly annoyance and anger. Ten per cent said they experienced anxiety, depression, fear and sleep disruption.

Four out of five offences (81 per cent) were committed by an individual (not an organization) that was unknown to the victim. According to Google, malware is being used less than at any point since 2007, but phishing websites have grown by 750 per cent. One in three folks who lost money learned through their financial institution.

When non-cyber assisted fraud is factored in, UK authorities have so far received 253,736 reports totalling £1.2 billion in losses this year. They have issued public warnings of phishing scams conducted over the course of the COVID-19 pandemic, with an increase in fraudulent text and calls to mobile phones, as individuals posing as bank employees, HMRC and even the NHS charging for fake COVID tests and track and trace.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178444-changing-uk-cybercrime-patterns-outlined-in-ppc-shield-report/

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