Apple announced in early August about expansion of Apple Pay more aggressively.

Fintech start-ups have garnered lot of interest from the banking industry. With digital technology and advanced analytics, these start-ups are providing applications for all and more banking services.

fintech.png

The industry is going through noteworthy changes – move towards digital payments, hunt for cost cutting techniques, private equity groups and investors benefitting from low interest rates and cheap financing. The European market in specific is also undergoing a consolidation phase.

DBS Bank has launched a mortgage app, DBS Home360, that lets Hong Kong homebuyers take advantage of virtual reality. The bank in its endeavor to make banking more interactive for its customers and add value to their experience has now enabled its buyers in Hongkong to have virtual, 360 degree tours of properties.

Credit referencing firm Equifax has reported a cyber-breach that compromised the personal information of approximately 143 million US consumers – almost half of the country. The company said a US website application’s vulnerability was exploited to gain access to certain files between the months of May and July of this year. Equifax came to know of this on July 29.

Most of the retailers are known to rent server capacity by companies such as Amazon Web Services, Alphabet Inc’s Google, Microsoft Corp and IBM. Walmart has spent five years and millions of dollars in creating six giant server farms, each bigger than 10 football fields in size.