Posts tagged Bank
Did A Twitter-Fueled Latvian Bank Run Start With One Account? [GRAPHIC]
Dec 13th
Analysis by the social network analytics company Orgnet.com shows how rumors that fueled a run on Swedish-owned banks in Latvia over the weekend may have originated from a single source.
Banking officials are calling it the world’s first ever social media-fueled run on banks, and officials say that the misinformation campaign may have been a deliberate attempt to destabilize Latvia amidst the ongoing European debt crisis.
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The doomsday messages, which were quickly re-tweeted and shared on social networks, targeted Swedish banks operating in Latvia. None of them, which ranged from closed branches to the arrest of a bank executive, were true, according to bank officials and regulators. Latvian officials said they are still trying to piece together what happened over the weekend.
Typically, news stories originate from several different information sources when they spread among social network users, but Orgnet.com’s “>graphic of the Swedbank run shows all the information going back to one main source.
Twitter’s rumor mill spinning out of control isn’t a new story. But this appears to be the first time it disrupted a financial institution, which could result in serious consequences. According to a Swedebank representative quoted by Marketwatch, “authorities may bring legal charges against the persons spreading the rumors, as such activity is illegal in the country.”
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Seo In Young’s Colorful Comeback Performance on “Music Bank” – Soompi
Nov 19th
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Seo In Young's Colorful Comeback Performance on "Music Bank"
Soompi Fully acknowledged as a powerful singer and gorgeous diva, Seo In Young reappeared into the K-Pop scene after six months with a colorful comeback. On November 18, KBS2's “Music Bank” aired its weekly episode where Seo In Young performed her title song … |
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Coming Soon to a Bank Near You: Cloud Computing
Nov 3rd
The financial services industry is warming up to the idea of using the cloud for some of its critical computing needs. More than half of bank transactions will be supported by cloud-based infrastructure and software by 2015, according to a recent report from Gartner.
That is the expectation of about 39% of financial services CIOs worldwide, according to the survey. In Europe, the Middle East and Africa, 44% of CIOs for banking firms expect that more than half of their institutions’ transactions will take place via infrastructure that lives in the cloud, and 33% expect most of them will be processed using some type of SaaS application.
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For banks, the cloud can offer far greater computing power and scalability. Migrating critical operations there won’t be without its risks, however. Security and stability are always a concern when moving to the cloud, and that’s especially true when highly sensitive data like financial transactions are involved. It simply requires that systems are architected in a secure and fail-proof way.
Let the Machines Do What They Do Best, So People Can Focus Elsewhere
Another key value the cloud offers to financial firms is increased efficiency. As Gartner points out, banks are increasingly going to be replacing people with machines to perform certain tasks, leaving humans to do things the human mind is good at.
“As banks progressively replace people in the value chain with algorithmic operations (AOs) to run processes and make decisions, their intellectual property increasingly resides in these algorithms,” reads a post on Gartner’s blog. “The value of people is not in running operations but in improving the AOs.”
It’s this type of efficiency and operational enhancement that can drive what Gartner calls “creative destruction” within the banking industry.
As Gartner Managing Vice President Peter Redshaw summed it up, “Successful new cloud services can displace the existing and dominant process for design, distribution or transacting in a disruptive way, rather than just incrementally improving them.”
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Why Would Google Become A Bank?
Sep 13th
What might motivate Google to become a bank down the road? As bank robber Willie Sutton is famously misquoted as saying, “Because that’s where the money is.”
While officially Google has been a bank since 2007 (holding a De Nederlands…
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Seo In Guk makes his “Shake It Up” comeback on ‘Music Bank’ – allkpop
Aug 12th
 allkpop |
Seo In Guk makes his "Shake It Up" comeback on 'Music Bank'
allkpop by VITALSIGN on August 12, 2011 at 5:53 am Singer Seo In Guk is back with a new single and he wants to “Shake It Up” with you on today's episode of KBS's 'Music Bank'. “Shake It Up” is the work of American composer Drew Ryan Scott, who's already worked … |
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Low Cost SEO – Attracting Internet Traffic Without Breaking the Bank – Online News Website
Aug 7th
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Low Cost SEO – Attracting Internet Traffic Without Breaking the Bank
Online News Website … blogs for creating and distributing useful information and as a way to compete for additional internet traffic. For any questions or more information, please click the “contact us” tab above or visit the rest of the Denver SEO Consultants, LLC website. |
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Man politely robs bank for $1, lands free healthcare in prison – ZDNet (blog)
Jun 20th
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Man politely robs bank for $1, lands free healthcare in prison
ZDNet (blog) A proponent for — and implementer of — white hat SEO, Stephen has grown tired of not personally combating the negative stigmas often associated with SEO. Through ZDNet, Stephen aims to dispel the myths, educate the masses, and become one more … |
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Bank of England Using Google Search Tracking for Economic Insights
Jun 14th
In an attempt to better understand the behavior of UK citizens, the Bank of England has started tracking search trends on Google. The bank has high hopes that this will improve the speed of economic reporting, especially as it relates to mortgage …
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Bank of England Using Gogle Search Tracking for Economic Insights
Jun 14th
In an attempt to better understand the behavior of UK citizens, the Bank of England has started tracking search trends on Google. The bank has high hopes that this will improve the speed of economic reporting, especially as it relates to mortgage …
View full post on Search Engine Watch – Latest
How LinkedIn is Riding a Wave of Big Data All the Way to the Bank
May 19th
LinkedIn is valued at $8.79 billion after its first day as a public company. Founder and chairman Reid Hoffman and friends are drinking champagne tonight, that is for sure. It is the highest valuation after an IPO of a tech company since Google astonished the world in 2004.
It is mildly amazing for a social network that has never been profitable and never made more than $250 million in a year. What are investors seeing that the rest of us cannot? In a word … Jobs. This is what Job Board 2.0 has become — data rich and interactive across a social graph. Hoffman is now laughing his way to the bank, surfing his huge wave of data.
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It may seem like it, but the word “social” and a couple talented engineers do not a $9 billion company make. LinkedIn is valuable for the same reason that Facebook is valuable – it has oodles of data. Where LinkedIn’s assets lay are in the specificity of its data. Jobs are what power a capitalist economy and when it comes to employment hunting, there are not many places on the Internet that have more data than LinkedIn.
Data is like the gasoline of the Internet. The more of it that you have, the better your engine is running. LinkedIn has 100 million users that at one point or another have uploaded their basic employment information to the site. Most have uploaded full resumes, teaming with data like phone numbers and addresses, employment and education history. So what if most users on LinkedIn do not check their accounts on a monthly basis? Page views count when advertising is your main game. For LinkedIn, its primary revenue comes from its hiring solutions and premium accounts, both of which are steps to uncover more data.
Data + Jobs = Big Money
It may seem like investors have jumped the shark with LinkedIn’s IPO and to a certain extent they have. Last week it seemed like a good target valuation for the social network would be $30 a share. When it announced yesterday that it would start at $45 a share, eyeballs popped. LinkedIn opened this morning at $83 a share and went as high as $122.70 and jaws across the industry dropped.
LinkedIn has the most traction and the most data in the professional social network environment, but it is not a standout and future monopoly, the way Google was when it debuted to the public. Google’s technology was above and beyond what came before. That is not the same for LinkedIn. The traditional jobs sites – Monster, CareerBuilder – remain strong players in employment data and there are niche job boards across the Internet like JournalismJobs.com that are go-to destinations for certain industries.
There are other startups looking to gain traction by using employment data. BranchOut is a professional social network that extrapolates employment data from Facebook’s 700 million or so users and recently raised $18 million in series. Like LinkedIn, BranchOut understands the meaning of data, interaction and connections when it comes to employment. With today’s rousing success by LinkedIn, there will be more players in the employment connection space coming down the pipe.
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