Thought Leaders in Financial Technology: Tracy Metzger, COO of Vesta (Part 2)

Tracy Metzger: Whether it’s mobile carriers when they’re doing prepaid businesses where credit card acceptance immediately fulfills minutes to a phone, or digital goods companies like e-ticketing, or software downloads,  all these things have an after-market value. Those companies spend anywhere from 14% to 20% of their total SGNA on managing fraud. It’s a huge amount of cost.

One of the other by-products is it hurts the acceptance. This is because these internal operational departments, while doing their best through tools and technologies, tend to be risk-averse. They may sometimes take the caution on the air of not accepting a transaction because it may look risky, which creates a user experience issue. You have acceptance issues that create revenue offset problems. You have operational issues that create expense issues.

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Thought Leaders in Financial Technology: Tracy Metzger, COO of Vesta (Part 1)

There is a lot of fraud in online payments. This discussion explores the field, and Tracy also provides a pointer to a great open problem that an entrepreneur can look into.

Sramana Mitra: Let’s start by introducing you and Vesta to our audience.

Tracy Metzger: I’m the COO of Vesta. I’m a 25-year veteran of the financial technology industry, primarily around payments and technology solutions in payments. Vesta is a 22-year-old financial technology company that focuses on payments and product >>>

Thought Leaders in Cloud Computing: Ken Fang, President of Mobomo (Part 3)

Sramana Mitra: Have you seen a use case that you could talk about where such conversational interfaces are being applied to a business problem?

Ken Fang: One of the areas that we are working on with USCS is a pilot project where we built an Alexa interface for people to report. They have a web form where you can go ahead and enter in earthquake information. It’ll ask for your name, address, when you felt the earthquake, and how you strong you believed it to be. What we did was we built an Alexa app where you can do that through Alexa. >>>

Thought Leaders in Cloud Computing: Ken Fang, President of Mobomo (Part 2)

Ken Fang: The lucky thing is, we knew the event was coming, and we knew exactly when it was going to happen. We had to make sure that all of the infrastructure was in place. The nice thing about the cloud is, for the most part, it’s fairly elastic. It was able to scale up to meet the demand. Once the event was over, it could auto-scale back. That’s the beauty of this cloud technology. You’re only using what you need.

The hard part for NASA is budgeting. They didn’t know how many people were going to hit the site. They ended up transferring >>>

Thought Leaders in Cloud Computing: Ken Fang, President of Mobomo (Part 1)

What use cases are emerging at the cusp of mobile, cloud, AI chatbots and spoken interfaces? Read on for a thoughtful discussion.

Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Mobomo.

Ken Fang: I’m the President of Mobomo. Mobomo is a mobile web cloud company. We help federal agencies as well as commercial organizations transform their business primarily through mobile web cloud.

Sramana Mitra: Your customer base is mostly federal agencies? >>>

Thought Leaders in Financial Technology: Hakan Nordfjell, Senior VP of eBanking and eCommerce at Gemalto (Part 5)

Sramana Mitra: There’s definitely the identity data that we have a big fiasco around at the moment. More broadly, Facebook is sitting on top of huge amounts of data. Google is sitting on top of huge amounts of data. They’re basically using that data without the consumers having any say in the matter on how that data gets used.

Hakan Nordfjell: Exactly. End consumers don’t have a clue. In some sense, they should have the option to know better about it. As you said, we are building up digital profiles on end users and we have massive amount of data. If that is being breached, I think >>>

Thought Leaders in Financial Technology: Hakan Nordfjell, Senior VP of eBanking and eCommerce at Gemalto (Part 4)

Hakan Nordfjell: For example, I know that I have identified himself and enrolled with that Third Party Provider (TPP). I can trust the service because when the TPP does the request on my behalf, I will be authenticated. Where we will have problems to solve for the open banking to flourish is when the banks ask for a single security. You need to have something that is more central which will help the TPP and the end user. I think that national banks will see that that’s the way for them to boost the business.

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Thought Leaders in Financial Technology: Hakan Nordfjell, Senior VP of eBanking and eCommerce at Gemalto (Part 3)

Sramana Mitra: Let me ask you a few questions to understand how you’re going to market with this kind of technology. Is this like a central hub where banks are all signing up for access or is it an enterprise software solution that each bank is buying?

Hakan Nordfjell: The model is, you go bank by bank. You sell the solution to the bank and they consume your security. You will still sell your security solution to all of the parties, but you will have one single hub for it. If I login to Bank A, I can use exactly the same security solution to login to Bank B. I can use the same security solution to login to a government portal. There are certain initiatives around the world for trying to set that up. Gemalto is a valuable part of that. Obviously, we are trying to position ourselves as a player in that.

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