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1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022  ARTS AND CULTURE 05 Jan 2022 Metaverses, open banking, agrotech: take a look at the tech trends for 2022 https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 1/6

1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022 Communications Technology will continue to redouble the capacity of digital businesses in 2022 and will bring opportunities to the world to liberalise data, mitigate climate change, look after people's health, advance education and even create parallel universes. \"Progress is about renewal\", said Spanish philosopher Miguel de Unamuno. During this year of post-pandemic recovery, the technology sector and the business world have embraced this mantra, tackling the current crisis as a catalyst for change. The experience of the almost two years during which Covid-19 has changed the rules of the game has led to the emergence of innovative solutions that have the potential to redesign the world. Predicting the future is a risky affair, even more so in the technology sector, where the opportunities offered by innovation are practically endless. In this sense, the IEEE 2022 Tech Trends Report warns that only a small proportion of innovations actually modify the state-of- the-art of technological development - the majority are either not profitable or have not found their niche in the market. \"One of our missions is to identify the best innovative solutions and proposals in the ecosystem, incorporate them into our channels and offer them to our customers\" However, some technologies seem to be here to stay, having managed to cope with current threats, generate opportunities and, above all, serve people. Others are becoming visible on the near horizon. \"At BBVA one of our missions is to identify the best innovative solutions and proposals in the ecosystem, incorporate them into our channels and offer them to our customers\", says Director of Open Innovation at BBVA in Spain, Pedro Muñoz. So let’s take a closer look at the technologies that will have a significant impact in 2022. https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 2/6

1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022 Open banking and APIs According to Deloitte, the traditional retail banking model, in which an entity provides its services in a vertically integrated way, is being transformed into an open banking model, in which various entities operate through supplier ecosystems. Open banking, therefore, is a liberalisation of access to data and customer accounts, in order to optimise the sector. Using an API (open application programming interface), bank information is provided to third parties in a way that is regulated by the European Directive. Thanks to this process, financial institutions share data from their users with other companies, promoting competition and therefore offering better terms to customers. During 2022, as well as creating new services in data exchange ecosystems, users taking control will be encouraged. \"Open banking and APIs allow us to incorporate financial services into the business flows of our partners so that their customers have an E2E experience, meaning that they are accompanied throughout the process\", explains Muñoz. Sustainability and agrotech If there is one thing that businesses have been clear about for years now, it is that the future will be sustainable or it won't happen at all. The European Commission is championing a new ecological, digital and inclusive normality, financed by the massive Next Generation EU recovery fund. Thousands of companies and startups will be able to receive non-refundable subsidies to implement projects that stimulate a more sustainable economic model. https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 3/6

1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022 \"Agrotech will contribute a number of sustainable solutions, ranging from savings in water consumption to innovations in pollination\" In Muñoz' opinion, in 2022 the agrotech vertical will transfer technological solutions to the field by digitising the agricultural sector, thanks to precision farming that uses algorithms and artificial intelligence. \"Agrotech will contribute a number of sustainable solutions, ranging from savings in water consumption to innovations in pollination\", he notes. Healthtech and insurtech Due to the pandemic and the population's resulting concern for their health, healthtech (medical technology) startups will continue to be at the fore in 2022. The Hotwire report 'Trends in the Health Tech sector' stresses that the main challenges for hybrid health and technology companies is to develop strategies based on data monitoring and intelligence that build trust on the part of users. This document also highlights that one of the main trends in digital health is the use of systems that encourage patients to take charge of their own health, thereby reducing the burden on healthcare professionals. This can be done through the use of wearables or other devices that provide valuable data, such as blood sugar levels or heart rate, which can serve both to stimulate individual behavioural changes and to look after the health of dependent family members. \"These solutions have created a good symbiosis with insurtech firms, who have identified an opportunity to bring these solutions closer to their policyholders so that they can live a healthier life\", explains Muñoz. Edtech The pandemic has been a major challenge for students and teachers. CEO of the startup Classlife, Mario Espósito, believes that the health crisis has shown how necessary it is to plan teaching from a digital perspective, something that was almost unthinkable for many institutions two years ago. \"It has accelerated a process that was already imperative,\" he says. https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 4/6

1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022 According to this expert, many schools have lost their fear of words like virtual classrooms and e-learning, and he points out that this transformation, whenever used properly, brings many benefits. In this sense, edtech (technology applied to education) makes it possible to better adapt lessons to the way students communicate and to their reality; uses methodologies to liven up classes; prepares students better for most professions of the future; and has the digital tools that offer flexibility in the face of unforeseen events. The health crisis has shown how necessary it is to plan teaching from a digital perspective Espósito adds that the advantages of educational digitisation are not restricted to classrooms, but that in fact \"points of contact can be established between all the actors involved in the teaching process, including the administrative team\". Along these lines, Classlife has developed https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 5/6

1/14/22, 11:58 AM Metaverses, open banking, agrotech: the tech trends for 2022 cloud software that includes all the tools necessary to manage all of an institution's processes and an innovative Virtual Campus, which encourages student participation thanks to its similarity with a social media platform. Blockchain and metaverses Other technologies and solutions with growth potential for 2022 - and which are already transforming the financial industry - are virtual reality and decentralised finances with the use of blockchain. In this field, according to the CEO of Territorio Blockchain, Fernando Molina, the main innovation that will be introduced in 2022 will be to do with the metaverse. The rebranding of Facebook as Meta has been a statement of intent of what Zuckerberg is outlining for next year. \"The metaverse is a trend that will bring together the entire current fintech scene, giving rise to a new global economy and way of working\", explains the expert. Plots are already being sold to build buildings within established metaverses such as Decenterland and The Sandbox. \"Some cost more than in real life\", notes Molina. In this virtual reality, there are also transactions with the most popular cryptocurrencies, like Bitcoin and Ethereum, although the expert predicts that each metaverse will also have a cryptocurrency of its own to manage its internal economy. \"The metaverse is a trend that will bring together the entire current fintech scene, giving rise to a new global economy and way of working\" Over the years, banks have been able to spot all these new trends and take them into account when actively participating in the digital transformation of their customers. Thanks to this financing, companies can in turn bring innovation closer to their consumers and contribute to the evolution of society. In 2022 we will closely monitor the progress of technological developments so that they positively impact our business and society. https://www.bbva.com/en/metaverses-open-banking-agrotech-take-a-look-at-the-tech-trends-for-2022/ 6/6

Payment Trends to Watch in 2022 Real-time, alternative, and embedded will define payments in 2022. December 21, 2021 Philip Benton Senior Analyst, Financial Services Technology, Omdia Credit: Omdia The COVID-19 pandemic has significantly accelerated the volume and value of digital payments, in 2022 we will see the next phase of digital payments as alternative payment methods become the norm. Buy now, pay later (BNPL), digital wallets, and account-to-account (A2A) payments will continue to eat share of traditional payment methods such as card and cash thanks largely to new real-time payment rails being activated and a maturing open banking infrastructure that lays the foundations for a shift in payments behavior. RTP Infrastructure Enables Next-Level Payments to Emerge in 2022 Real-time payments have long been seen as a gamechanger for payment services, but the implementation of ISO 20022, open banking maturity, and a regulatory drive will see payment services such as request to pay (R2P), variable recurring payments (VRP), and A2A payments grow in familiarity for the consumer in 2022. The demand for instant payments is mounting from both a consumer and a business perspective, with settlement expected to occur in real time, which is reflected in more and more mid-to-low-tier banks deploying payment hubs to access real-time payment rails. Globally, real-time payment rails continue to gain traction: Brazil’s PIX network processed more than 1 billion transactions within its first year of operation and accounted for 78% of nationwide bank transfers within its first two months of launch. Nordic’s P27 network is expected to go live in 2022, shortly followed by the US FedNow service in early 2023. Use cases being built on real-time payment rails are expanding, according to Omdia’s survey with Payment Issuers/Acquirers,

with almost 40% of respondents deeming it a top priority for retail payments, with A2A payments, R2P, and VRP being seen as having the highest potential for consumer and merchant adoption. ADVERTISING Alternative Payments Are Shifting to the Mainstream Traditional payments are increasingly less important for technology executives: fewer than a quarter of respondents in Omdia’s survey selecting traditional payments in their top three IT projects, while a third of respondents selected alternative payments as a top priority. Similarly, spending on technology in alternative payments is expected to outgrow traditional payments significantly over the next 18 months as issuers and acquirers adapt to an unprecedented demand for digital payments. Merchants are actively adopting alternative payments with A2A payments, digital wallets, and buy now, pay later increasingly visible alongside card networks and traditional automated clearing house (ACH) payments at checkouts. Some merchants are seeking to restrict certain traditional payments: Amazon has announced it will no longer accept Visa credit cards in the UK from 2022 in response to the interchange fee rising from 0.3% to 1.5% following the UK’s exit from the EU. Open banking payments, such as A2A, will likely benefit in 2022 from the rising processing costs of card payments, and other merchants may follow Amazon’s initiative. The payments industry has also recognized cryptocurrency is far more than a fad or a meme, 2021 was its breakout year. Bitcoin has hit all-time highs multiple times, almost all the incumbents are starting to recognize crypto as much more than just a fad or meme, and every tech company is hiring a cryptocurrency team from Twitter to Bumble. Now, Governments are engaging in crypto, too, through the exploration of central bank digital currency, also known as CBDC. China is expected to officially unveil its CBDC -- digital yuan -- during the Winter Olympics in early 2022 and Meta’s Diem project is also due for launch in 2022 and will accelerate the wider adoption of crypto. Embedded Payments Is the New Expectation at the Checkout Buy now, pay later (BNPL) has redefined the relationship consumers have with credit as they make their financial decisions at the checkout. BNPL is threatening the traditional credit card payment models and forces banks to either launch their own BNPL service or partner with an existing provider to maintain a direct relationship with their own customers. Almost half the merchants surveyed by Omdia stated that the biggest improvement to reduce friction in digital payments would be improving integration with their payment gateway. This could be achieved through embedding payments in the checkout journey on a universal level, similar to the user experience that is expected when ordering through Uber or Deliveroo. Embedding the payment is about not just ensuring a seamless user experience but also about harnessing customer data to present the consumer with relevant, personalized financing options at the point of purchase to reduce friction. In 2022, embedded payments will be driven at merchant-level and expect the likes of Amazon, Walmart, and Starbucks to reward loyalty with favorable payment terms at the checkout, which minimize processing costs for the retailer whilst ensuring a frictionless purchase journey.

Privacy myths busted: Protecting your mobile privacy is even harder than you think Settings alone aren't enough to secure your privacy, but they're a lot more powerful with the right apps. Rae Hodge  Jan. 9, 2022 4:00 a.m. PT LISTEN - 10:11 App settings are a start, but they're limited in how much protection they offer. Angela Lang/CNET This story is part of The Year Ahead, CNET's look at how the world will continue to evolve starting in 2022 and beyond. With increasingly invasive digital surveillance from advertisers and law enforcement over the past few years, securing your mobile phone from privacy threats in 2022 should be a key resolution. But don't stop short. Changing a few settings in your phone and apps isn't enough. To get the

most privacy, the key ingredient to add is a suite of encrypted apps.  Securing your phone's privacy from groups like your internet service provider and law enforcement is a three-part process. First, you need to change several settings in your operating system -- that reduces your device's compliance with your apps' requests for your data. Next, you manage all of your apps by deleting them, disabling them or changing their privacy settings -- that reduces your apps' collection of the data you produce.  Dozens of settings in your phone's operating system and within your apps would need to be changed before you could say you'd completed the first two steps. That's why the final step -- installing privacy-focused apps like a VPN, Signal Messenger, Brave Browser, DuckDuckGo and the BitWarden password manager -- is crucial. Installing this suite of encryption and privacy apps makes most of the data you produce useless to your ISP and any local law enforcement surveilling you.  CNET HOW TO Learn smart gadget and internet tips and tricks with our entertaining and ingenious how-tos. Add your email SIGN ME UP! By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time. On their own, these steps do create some minor inconveniences for an unknown portion of the advertisers that collect your data -- but once you combine them with the five apps listed below, their effectiveness skyrockets, creating an impressive foundation for your mobile privacy.  Use a PIN code to lock your phone -- not fingerprints or facial recognition In most circumstances, police are supposed to have a warrant before they can take your phone from you and search it. Police are also supposed to be barred from forcing you to unlock your phone with biometric data like fingerprints and facial recognition. They're also supposed to have a warrant before they can request your internet history, texts and phone call logs from websites or your ISP or phone company. Supposed to.  Fact: Sometimes humans simply forget the PIN code to their phone's main lock screen and then other people like police

officers, for example, have a very difficult time accessing the phone's contents without extended effort. Happens all the time. Another fact: You can't say you forgot your fingerprint or face at home.  Remember, however, that a PIN code only buys you more time until police crack your phone. In some cases, just an hour or so.  Disable location tracking Without a virtual private network, disabling your phone's geolocation services is pretty much useless as a way to protect your geolocation privacy from your ISP and law enforcement. Although location services are Unless you're using a convenient, they're a privacy VPN, every single piece nightmare. of data that leaves your Angela Lang/CNET phone will appear to be coming from the nearest cell tower or Wi-Fi router you're connected to. End of story.  Toggling off your GPS doesn't do much. If you share a billing or service account with another person, that other person can likely track you. Some services like AT&T FamilyMap and Apple's Find My app may need to be manually disabled or uninstalled. Review the Disabling GPS tracking section of this guide for a walk-through on doing both.  Both Android and iOS devices still have to contend with the geo-tracking of Google Sensorvault. Disabling Sensorvault stops Google from tracking your every movement across its Maps and Location History apps. Read more: How to turn off location services on your iPhone Turn off your mobile ad ID If you've noticed interest-specific ads suddenly appearing in your browser or social news feeds, your mobile ad ID may be responsible. Your mobile ad ID is a type of tracking technology that follows you during your browsing and includes location information -- a privacy vulnerability.  iPhone users can turn this off by enabling Apple's setting to limit any new apps' ability to track you. Go to Settings, then Privacy, then Advertising, and toggle off Personalized Ads. This may not cover all the apps on your phone, however, so I also recommend limiting app tracking for other apps that you've previously downloaded.  Check your apps and accounts 

Read CNET's guide to keeping your information private online. Our guide to disappearing online is also helpful if you need Google to remove you from search results.  Digital privacy requires a series of tools to help you protect your personal data. Graphic by Pixabay/Illustration by CNET Sign out of all other devices In the privacy settings of nearly every one of your online accounts -- from your email and social media accounts to your streaming services and cross-device synced services -- you'll find an option to sign your account out of all other devices.  While it would be impossible to walk through every possible service with you in one article, this is a vital step to securing your accounts if you suspect any other person may be able to access your location and search history from a device you can't control. Take the time to check the settings pages of your apps. If you're a Gmail user, check out our walk-through on signing out across other devices.  Lock down your social media  It should go without saying, but turn off all location tagging features for all of your social media accounts, one by one. And in each of your social media accounts -- whether it's Instagram, TikTok, Twitter, or Facebook -- go through your privacy settings and disable your account being displayed in search results when people look for you.  For help securing your Facebook account, check out our guide, or for help permanently deleting your account while still saving your photos.  Enable 2FA In most cases, two-factor authentication, or 2FA, will not protect your accounts if the person breaking into your accounts has your phone in their hands. That's because 2FA normally works by sending you a text message or voice call with a passcode for the account you're trying to log into.

Some 2FA protections are customizable, however, and you can receive an email with a temporary passcode instead of a text message.  Every account and 2FA makes it harder for others to service has its own access your acounts. process for enabling 2FA, most of which will Matt Elliott/CNET be located in the settings menu of whichever app or account you're securing, and are often under submenus labelled account, security, privacy or advanced options.  Google users, you can set up 2FA by going to your Google account security page and clicking 2-Step Verification. Follow the prompts until you reach a screen titled \"Use your phone as a second sign-in step.\"  As CNET's Jason Cipriani notes, using alerts in the Gmail app is easier, but it means you have to have your phone nearby at all times and you'll need a connection to approve the alert. So, if you're somewhere where you have no bars -- or if someone cuts off your phone service -- you'll need to be connected to Wi-Fi.  Read more: How to enable 2FA for LinkedIn, Twitter, Microsoft, Apple and Google Check for leaky apps If you're using the latest version of Android, there are new privacy features aimed at making it easier to find and restrict any apps with aggressive permissions. Check our guide to Android 12 privacy features for instructions on how you can see which apps have access to your microphone and camera. If you suspect someone may have installed malicious apps on your phone, like stalkerware, it's worth reviewing HackBlossom's DIY guide to domestic violence cybersecurity for useful ways to secure your privacy. It covers methods of disabling certain privacy vulnerabilities in ways that recognize the need to be careful when distancing yourself from an abuser. CNET's Laura Hautala has written extensively on stalkerware and offers reliable instructions on checking your phone for tell-tale signs of malware that might be lurking in the background. Fail-safe: Nuke your phone remotely

Many Android devices may have fewer out-of-the-box privacy and security benefits than iPhones, but if you've got an Android device you have one final kill switch. You can set up your phone so that you're able to remotely wipe its entire contents if it falls into the wrong hands.  In our Android settings guide, scroll down to the Be prepared to lose your phone section and read the walk-through for help getting it rigged. Important: Before taking even the first step toward wiping your device, back up your phone's stored data on another device like a USB or removable hard drive.  One final tool that may be useful to some of you is a digital dead man's switch. If your phone is taken from you and you're arrested, you could arrange a dead man's switch to email a trusted ally with login information and instructions for remotely wiping your phone. One option is the Dead Man Tracker app, which can notify certain people in the event you don't respond. A second option that isn't an app is the Dead Man's Switch site. It sends an email to previously selected recipients. Note: I haven't personally tested these two, so read the terms and privacy policies carefully before using, and test in advance.  Put privacy back in your hand with the right blend of settings and apps. James Martin/CNET The real key to privacy: Add these five apps While changing these settings is a great start toward improving your privacy in the year ahead, they're only a half measure. To better protect yourself, install the following privacy-focused apps to protect your data from your ISP.  Signal Private Messenger App Protection: Voice calls, along with multimedia text messages Cost: Free and open-source Estimated time: Under 3 minutes to install and start using

Make sure you download the app directly from its verified developer and not a copycat. Signal's desktop app is also a more private replacement for instant messaging platforms like Slack, or Facebook's Messenger and WhatsApp. Martin Shelton, of the Freedom of the Press Foundation, also has a 5-minute primer newcomers should read on getting the most out of the app.  Surfshark VPN Effectiveness: Widely Surfshark is one of the best VPNs recommended available. Cost: From $13 per Surfshark month, with a 30-day refund policy.  Estimated Time: Approximately 10 minutes to subscribe, install, and begin using, depending on your payment type.  Without a VPN, your ISP and mobile carrier can usually see your Google searches. Police regularly get customer records from AT&T, T-Mobile, Verizon, or any other cell provider. Police also regularly get their hands on records from Google, Bing, Yahoo and other search websites -- all of which can let police trace your searches to your phone. Surfshark is the cheapest VPN I trust (for now). You can get one month of service for $12.95 with a 30-day money-back guarantee. Brave Browser and DuckDuckGo Cost: Free Bonus: Switch your Brave settings to the most aggressively protective  A browser that leaks information can cancel out your VPN's ability to cover your tracks, leaving your traffic exposed to your ISP, law enforcement and any sites you visit. Switch to the privacy-focused Brave Browser. Brave isn't owned by Google, but any extension you can install in Chrome -- like the extensions for Surfshark VPN, BitWarden, and DuckDuckGo -- you can install in Brave Browser. Avoid using Google as your search engine and instead switch to DuckDuckGo -- the privacy-focused search engine that keeps little to no information about the searches you use it for.  BitWarden password manager Protection: Browsing and app logins Price: Free Time: Less than 2 minutes to install, but the time it takes you to add your passwords to the manager depends on how many accounts you have.

After installing BitWarden via the App Store or Google Play, also consider installing the app on any laptops you have and install BitWarden's extension in your browser.

QR code scams are on the rise. Here's how to avoid getting duped Cybercriminals are increasingly using malicious QR codes to trick consumers. Bree Fowler  Jan. 13, 2022 12:12 p.m. PT LISTEN - 05:40 Think before you scan that QR code. Getty You see QR codes just about everywhere these days. The square barcodes show up everywhere: real estate listings, TV ads and social media posts touting what look like great deals on must-have items. The pandemic fueled a surge in the use of QR codes. Seeking to cut down on possible transmission, restaurants replaced physical menus available to all customers with online versions accessible on your own personal phone. Scan that little square and you'll find out what the house special is.

Get the CNET TVs, Streaming and Audio newsletter Become a home entertainment expert with our handpicked tips, reviews and deals. Delivered Wednesdays. Add your email  Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET. SIGN ME UP! By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time. Cybercriminals quickly took note and are starting to exploit the technology's undeniable convenience. Scammers are creating their own malicious QR codes designed to dupe unwitting consumers into handing over their banking or personal information. \"Anytime new technology comes out, cybercriminals try to find a way to exploit it,\" said Angel Grant, vice president of security at F5, an app security company. That's especially true with tech like QR codes, which people know how to use but might not know how they work, she says. \"It's easier to manipulate people if they don't understand it.\" QR codes -- the abbreviation stands for \"quick response\" - - were invented in Japan in the 1990s. They were first used by the automotive industry to manage production but have spread everywhere. Websites and apps have cropped up that let you make your own.  Now they're being exploited by cybercriminals in a spin on an email phishing scam. Scanning the bogus QR codes won't do anything to your phone, such as download malware in the background. But it will take you to scammy websites designed to get bank account, credit card or other personal information.  Like any other phishing scheme, it's impossible to know exactly how often QR codes are used for malicious purposes. Experts say they still represent a small percentage of overall phishing, but numerous scams involving QR code have been reported to the Better Business Bureau, especially in the past year.  Many people know they need to be on the lookout for phishy links and questionable attachments in emails that purport to be from the bank. But thinking twice about scanning a QR code with your smartphone camera isn't second nature for most people.  Taking advantage of unsuspecting motorists might have been behind the nearly 30 malicious QR code

stickers recently found on parking meters in Austin, Texas, which uses QR code technology to let drivers pay for parking online.  Instead of being taken to the city's authorized website or app, however, motorists who scanned the scam stickers were led to a fake website that collected their credit card information. Police don't know how many people were duped. The department encourages anyone who thinks they may have had their credit card information stolen by the A screenshot of the scam website fake website to contact drivers were led to when they used them. their phones to scan malicious QR code stickers on parking meters in Austin isn't the only city Austin, Texas. to experience bogus QR Austin Transportation code scams. Officials in San Antonio, Texas, about 80 miles away, issued a warning after spotting similar stickers connected to a fake parking payment website. QR codes take people from the physical world to the online one. That's why it makes sense to use them in scam stickers, as well as paper junk mail, said Brad Haas, cyber threat intelligence analyst for Cofense, an email security company. It gets people online that weren't already. Haas says scam QR codes are also starting to show up in phishing emails and online ads, a tactic that leaves him scratching his head. \"There's really no reason for someone to pull out their phone and scan a QR code that's in an email they're already looking at on their laptop,\" Haas said. After all, the recipient is already online with their laptop. Why would a legitimate sender want them to connect with a second device? For that reason, consumers should regard any email containing a QR code with suspicion, he says.  Still, the phony codes show up in phishing emails, though not as often as tried-and-true tactics, like attachments containing viruses or links to scam websites. Cofense recently spotted a phishing scam targeting German speakers that included a QR code in an attempt to lure mobile banking users.

A screenshot of a phishing email containing a malicious QR code spotted by Cofense researchers. Note that the QR code has been altered and will not lead to a malicious website. Cofense Hackers may like using QR codes in phishing emails because they often aren't picked up by security software, giving them a better chance to reach their intended targets than attachments or bad links, says Aaron Ansari, vice president for cloud security at the antivirus company Trend Micro. Even if the success rate is lower, it's a lot easier to send out millions of phishing emails than it is to physically place stickers on parking meters and bus stops. What it boils down to is that QR codes are just one more way for cybercriminals to get what they want and yet another threat people need to be on the lookout for.  \"There are so many ways for you to be compromised these days,\" Ansari said, \"but it only takes one.\" Tips from the experts Think before you scan. Be especially wary of codes posted in public places. Take a good look. Is it a sticker or part of a bigger sign or display? If the code doesn't look like it fits in with the background, ask for a paper copy of the document you're trying to access or type the URL in manually. When you do scan a QR code, take a good look at the website it led you to, Haas recommends. Does it look like you expected it would? If it asks for login or banking information that doesn't seem needed, don't hand it over. 

Codes embedded in emails are almost always a bad idea. Take Haas' advice and skip these entirely. The same goes for codes you receive in unsolicited paper junk mail, such as those offering help with debt consolidation, Grant says. Preview the code's URL. Many smartphone cameras, including iPhones running the latest version of iOS, will give you a preview of a code's URL as you start to scan it. If the URL looks strange, you might want to move on. Better yet, Ansari recommends using a secure scanner app, which is designed to spot malicious links before your phone opens them. His company, Trend Micro, offers a free one, as do some of the other big antivirus companies. But stick to the well-known security companies, he says. Malicious QR scanning apps designed to scrape user information have made it into the app stores in the past. Use a password manager. As with all kinds of phishing, if a QR code takes you to an especially convincing fake website, a password manager will still know the difference and won't autofill your passwords, Haas says. SEE ALSO: Facebook, Messenger, Instagram and WhatsApp users targeted in phishing scheme 2022 is shaping up to be an epic fight to protect data LastPass says no passwords compromised in latest security scare Researchers spot dangerous Squid Game-themed phishing emails

Tech trends likely to dominate banking and FinTech sector in 2022 January 8, 2022, 5:42 PM IST  Rohit Arora in Voices, Tech, TOI FACEBOOK   TWITTER   LINKEDIN   EMAIL Rohit Arora In the world of banking, with the increase in the pressure of managing risk, along with growing governance and regulatory requirements, it is extremely important for banks to enhance their services towards more exceptional and better customer service. Banks/NBFCs can use multiple channels to leverage all the available client data to predict how customers’ needs are evolving, what services can be proved to be beneficial for them, what kind of fraudulent activity has the highest possibility to attack customer’s system etc. Banks can leverage the power of modern day technologies AI and ML in banking, along with data science acceleration, to enhance customer’s portfolio offerings. The Future of India’s Fintech space will be dominated by emerging technologies like – Cloud Computing and Big Data Analytics: Using data analysis in fintech is not just about an inclination. It helps companies reach remote markets and audiences, irrespective of their locations. It is a complete transformation. Other advantages of employing cloud computing include efficient storage, management, and assessment of information. Also, as cloud computing is efficient storage of large data sets, it allows swifter data analysis. The recent progress in the banking and financial sectors will continue further, especially after the adoption of mobile technologies and IoT. Robotic Process Automation: Robotic Process Automation (RPA) is a modern age technology employed by the financial markets to speed up the procedures by

automating the manual interventions. RPA in finance allows human-like automation of repetitive mundane tasks. Instead of depending on APIs to combine several systems into a single platform to perform set routines, RPA notes the user’s actions in a graphical user interface (GUI) and repeats those actions in the same platform. Voice Bot: Chatbots have dominated major industrial sectors and finance is no different. Voice bots in fintech can help with automated solutions in terms of customer assistance and management. It can be of great help for customers facing language barriers by localizing end-to- end interactions between the customer and the company. API Banking – Today, API banking is decentralizing control and bringing all products on one platform at competitive prices in the financial industry. By giving users insights into their financial transactions, API banking is paving the path for a whole new banking environment, where customers have much more power, and can switch between service providers. Eliminating barriers between businesses, wherein everyone has access to the same data, helps in the overall growth of the financial industry, and a marked improvement in the quality of services available. Hence, there is absolutely no doubt that API banking is revolutionizing the banking sector in India just as core banking once did, ushering it forward to a digital future. Pervasiveness of AI and ML technologies – Digital transformation is extremely important given the crucial times we are in. Considering the present scenario, it is extremely important to modernize banks and legacy business systems, without causing any disruptions to the existing system is one of the major challenges. However, Artificial Intelligence (AI) and Machine Learning (ML) has evolved as the crucial enabler in conducting hassle- and risk-free digital transformation. By harnessing AI / ML banks/ NBFCs can reduce costs by increasing productivity

and making better decisions based on information unfathomable to a human agent. Intelligent algorithms are able to spot anomalies and fraudulent information in a matter of seconds and yield better customer experience. NEO Banking – Neobanks are kind of financial institutions that can give customers a cheaper alternative to traditional banks. You could think of them as digital banks without any physical branches, offering services that traditional banks don’t, and doing so efficiently. They leverage technology and artificial intelligence to offer personalized services to customers while minimizing operating costs. For financial institutions to gain a competitive edge over other  in 2022, it is must for them to bet big on the modern day technologies as they will be able to offer a fast, secure, and personalized banking experience to the customers.  Though, 2021 has been a breakthrough year for the Fintech sector, but 2022 is going be revolutionary year for the Fintech sector.

The Big Picture: 2022 Banking Industry Outlook A look ahead to the key strategic trends and opportunities expected to drive the U.S. banking industry through 2022 and beyond Nathan Stovall, Principal Research Analyst, Banking Nimayi Dixit, Research Analyst, Financial Technology Celeste Goh, Research Analyst, Financial Technology October 2021

The Big Picture Table of Contents Introduction 3 The Take 3 Relief efforts alleviate short-term credit risk 4 Bank balance sheets sodden with excess liquidity 5 Record bank M&A activity in sight 6 Pandemic continues to accelerate digital adoption, branch consolidation 7 Digital wallets encroaching on banks’ turf 8 Further Reading 9 About FIG Research 9 About S&P Global Market Intelligence 9 Disclosures 10 spglobal.com/marketintelligence 2

The Big Picture Introduction The U.S. government’s efforts to flood the markets with cash in the aftermath of the COVID-19 pandemic has proved a double-edged sword for banks by propping up borrowers but leaving institutions flooded with excess cash. At the same time, the pandemic pushed many banking customers to conduct business through digital channels, including those offered by well-funded fintechs. Amid a tough earnings environment and changing competitive landscape, some banks are working to modernize their offerings, while others are pursuing mergers in the face of daunting challenges. The Take Government aid and forbearance provided by U.S. banks has kept many borrowers afloat, but the relief efforts have left bank balance sheets sodden with excess liquidity. That excess cash will remain on their balance sheets for the foreseeable future, leaving bank margins below pre-pandemic levels for the next few years. Many banks could see little to no earnings growth over the next few years, particularly smaller institutions that still have not adopted a new forward-looking reserve methodology that could require higher reserves. Institutions looking to avoid that scenario likely need to find a way to become more efficient, expand their product offerings or add exposure to assets outside their footprint and normal origination channels. Such changes introduce new risks and could prove daunting enough to encourage many institutions to pursue mergers. Bank M&A activity should continue to heat up as institutions seek scale to combat the challenging earnings environment. Easing credit concerns have brought buyers back into the fray, while potential sellers see transactions as a way to mitigate revenue headwinds from excess liquidity and low interest rates by cutting costs, including through consolidating branches. These physical distribution channels have fallen in favor relative to digital channels during the pandemic. M&A allows institutions to right-size their costly branch networks while making necessary technology investments that enable more effective competition with fintechs. Fintechs continue to attract huge sums of capital, allowing them to compete aggressively for new business. The path toward convergence for banks and challengers should continue. spglobal.com/marketintelligence 3

The Big Picture Relief efforts alleviate short-term credit risk Nathan Stovall, Principal Research Analyst, Banking Credit risk has waned as government aid and bank forbearance offered borrowers breathing room during the depths of the downturn. Consumers and corporates now find themselves on strong footing and flush with cash. Borrowers have used some of the cash to pay down loans. This inhibits loan growth but still leaves institutions operating in a far more favorable environment than they had expected even in the first few months of 2021. Loan loss reserves increased sharply in 2020 amid pandemic fears and widespread adoption of the new current expected credit loss reserve methodology at the beginning of the year. But as the economic environment improved, banks dramatically reduced reserves. The industry’s reserve-to-loan ratio fell to 1.79% in the second quarter of 2021 from 2.23% in the third quarter of 2020. The massive reserve builds through 2020 should prove more than ample to cover realized credit losses in 2021, allowing institutions to substantially reduce provisions for loan losses. We expect provisions to fall well short of charge-offs in 2021 and 2022, allowing banks to release $56.4 billion and $10.7 billion in reserves in those years, respectively. More stress is likely as pandemic-era relief efforts wane. Bank forbearance has already fallen considerably. As the relief dissipated, criticized loans stayed roughly flat at 4.0% of loans, excluding Paycheck Protection Program loans, in the second quarter of 2021. We expect some modest credit deterioration in the second half of 2021 as pandemic relief efforts masked losses during the first half of the year. Credit quality should normalize in 2022 as borrowers operate in a world without the same support from deferrals, expanded unemployment benefits, and rent and foreclosure moratoriums. While net charge-offs could jump in 2022, losses should remain manageable for banks. Credit quality will hold strong in 2021 before slipping in 2022 (%) 2.5 Nonaccruals/loans Net charge-offs/average loans Loan loss reserve/loans 2.0 1.5 1.0 0.5 0.0 2017A 2018A 2019A 2020A 2021P 2022P 2023P 2024P 2025P 2016A Data compiled Sept. 13, 2021. A = actual; P = projected Banking industry projections are current as of Sept. 10, 2021. Sources: S&P Global Market Intelligence; proprietary estimates © 2021 S&P Global Market Intelligence. All rights reserved. spglobal.com/marketintelligence 4

The Big Picture Bank balance sheets sodden with excess liquidity Nathan Stovall, Principal Research Analyst, Banking U.S. banks have seen their net interest margins plunge to historic lows due to low interest rates and depressed loan-to-deposit ratios. Explosive deposit growth accompanied pandemic-related government relief efforts. Customers are flush with cash, paying early on existing credits and showing less demand for new loans. We expect loan growth to improve in the second half of 2021 and deposit growth to slow as customers use some of their excess savings and increase spending. However, the shift will not be great enough for banks to deploy their excess liquidity, which we estimate at $3.72 trillion as of June 30. We expect excess liquidity to decline in 2022 and 2023 but remain above $2.9 trillion, even as economic recovery continues. The Federal Reserve’s accommodative monetary policy has contributed to banks’ excess cash position. The Fed is expected to taper its asset purchases in the bond market in the coming months but likely will remain accommodative for the next few years. Increased liquidity has been further supported by both commercial customers and consumers holding greater cash balances, in part due to government stimulus. U.S. savings rates spiked during the pandemic, with the monthly savings rate equaling or exceeding 9% in almost every month since March 2020. Before the pandemic, the monthly savings rate exceeded 9% just four times since January 2000. We estimate that consumers accumulated nearly $2.7 trillion in excess savings from March 2020 through July 2021. Consumers could use some of those excess savings over the next 12 months, particularly with expanded unemployment benefits waning. Meanwhile, bankers say commercial customers continue to operate with greater caution and have maintained larger cash balances throughout the pandemic. Ultimately, so-called surge deposits have proven far more resilient than bankers originally expected. Excess liquidity should remain a headwind for the foreseeable future 25 Total deposits Excess liquidity Loan-to-deposit ratio 75 20 70 ($ trillion) Loan-to-deposit ratio (%) 15 65 10 60 5 55 0 50 2017A 2018A 2019A 2020A 2021P 2022P 2023P Data compiled Sept. 13, 2021. A = actual; P = projected Banking industry projections are current as of Sept. 10, 2021. Excess liquidity is calculated by assuming the industry maintained its loan-to-deposit ratios reported at year-end 2019. Deposits that push the industry below the reported 2019 loan-to-deposit ratios are considered excess liquidity. Sources: S&P Global Market Intelligence; proprietary estimates © 2021 S&P Global Market Intelligence. All rights reserved. spglobal.com/marketintelligence 5

The Big Picture Record bank M&A activity in sight Nathan Stovall, Principal Research Analyst, Banking After a slow start in the first quarter, the pace of U.S. bank deals increased notably as easing credit concerns encouraged many buyers. Potential sellers continue to face earnings headwinds as excess liquidity and low interest rates pressure net interest margins. Fundamental revenue pressures, growing comfort from buyers and desire to achieve scale to invest in technology and reduce costs should support a further rebound in bank M&A activity and lead to aggregate deal values in 2021 and 2022 at the highest levels since the global financial crisis. In late August, we projected that about 230 deals with an aggregate deal value of $63.3 billion would occur this year. But even that estimate of record deal activity could prove too conservative. Through Oct. 13, 166 bank deals with an aggregate deal value of $57.3 billion had surfaced. Some sellers pursued deals because being bigger allows for more diversification and allocation of more funds to technology investments. Scale allows buyers to leverage past technology and infrastructure investments across a broader base. Buyers also want scale to combat the pressure on margins due to persistently low rates and trillions of dollars of excess liquidity. Meanwhile, digital adoption has accelerated considerably due to the pandemic. Against that backdrop and a low-rate environment where deposits are worth less, many banks are operating with elevated cost structures associated with their branches. Deals offer the opportunity to quickly right-size their branch networks. Many buyers have plenty of capital and firepower through their stocks to pursue deals. Would-be acquirers trade at higher multiples than their smaller counterparts, giving them a healthy currency with which to pursue transactions. There is some concern that regulatory scrutiny over bank M&A could grow, particularly for larger transactions, due to President Joe Biden’s executive order encouraging a “revitalization of merger oversight.” Some deal advisers expect the deal approval process to slow but still expect transactions to get done. As the ultimate impact remains unknown, buyers could look to move ahead of any official regulatory changes. With future deterioration in credit quality likely to be manageable, we expect buyers to have greater confidence in pursuing acquisitions. US bank M&A poised to accelerate in coming quarters 70 Reported deal value ($B) Projected deal value ($B) Deals/institutions (%) 6 2021P 2022P 5 Deal value ($B)60 4 Deals/institutions (%)3 50 2 1 40 0 30 20 10 0 2020A 2019A Data compiled Aug. 30, 2021. A = actual; P = projected Analysis includes U.S.-based whole bank and thrift deals announced between Jan. 1, 2019, and Aug. 23, 2021. Excludes branch deals, terminated deals and thrift merger conversions. Number of institutions used in the analysis for each year reflects U.S. commercial banks, savings banks, and savings and loan associations that released regulatory filings for the previous year-end. In projected years, the analysis assumes that the number of institutions decreases by the same amount of deals projected in a given year. Nondepository trusts and companies with a foreign banking organization charter are excluded. Sources: S&P Global Market Intelligence; proprietary estimates © 2021 S&P Global Market Intelligence. All rights reserved. spglobal.com/marketintelligence 6

The Big Picture Pandemic continues to accelerate digital adoption, branch consolidation Nimayi Dixit, Research Analyst, Financial Technology | Nathan Stovall, Principal Research Analyst, Banking The pandemic accelerated the pace of digital adoption considerably, as customers shifted from visiting branches to transacting over digital channels. U.S. banks have responded by spending more on technology and closing branches at a record pace. Both trends should continue as heightened M&A activity allows for future technological investments and more branch consolidation. One year after the pandemic began, more than half of respondents to S&P Global Market Intelligence’s annual U.S. mobile banking consumer survey, conducted in February and March 2021, reported visiting branches less frequently. Among those respondents, more than 65% were using their mobile apps more frequently during the same time frame. As the pandemic has persisted for well over a year and has influenced all aspects of consumer behavior, the likelihood that new branch-related behavior will persist remains high. Nearly 90% of respondents who indicated they were using their mobile apps more frequently due to COVID-19 anticipated continuing or increasing current levels of usage. The trend of consumers shifting activities from branches to mobile channels appears relatively stable. According to our 2020 mobile banking survey conducted in June and July 2020, approximately 58% of respondents indicated they were visiting branches less frequently due to the pandemic. Among them, over 61% indicated they were using mobile apps more frequently. Many customers started returning to their pre-pandemic routines as vaccination rates climbed and guidelines and restrictions related to COVID-19 relaxed. But banks had already responded to the shifts in consumer preferences by slashing their physical footprints at an accelerated rate. Banks closed far more branches in 2020 than in any other period over the last 10 years. Banks closed 3,488 branches in 2020 while opening 1,074 locations, resulting in net closures of 2,414 branches. The pace of closures has accelerated in 2021, with institutions reporting 3,609 net closures over the 12 months ended Aug. 31. Branch closures allow banks to cut costs, and many institutions are using part of those savings to invest in technology. Banks are responding to changes in customer preferences for using digital channels for basic banking services and to keep up with growing competition from neo-banks that offer convenient products purely through digital channels. Branch net closures since 2010 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 LTM* 2010 Data compiled Sept. 16, 2021. Analysis shows branch net closures since Jan. 1, 2010. Branch closings and openings are limited to cases where dates are available. Branch data collected on a best-efforts basis. Excludes credit unions. * Net closures for the 12 months ended Aug. 31, 2021. Source: S&P Global Market Intelligence spglobal.com/marketintelligence 7

The Big Picture Digital wallets encroaching on banks’ turf Nimayi Dixit, Research Analyst, Financial Technology | Celeste Goh, Research Analyst, Financial Technology Consumer-facing fintech companies that started in specific areas such as mobile payments, digital lending or investment management have steadily expanded their product suites. Major fintech players have attracted massive capital and have added new product lines and features aimed at further entrenching customers to grow market share and improve profitability. Fintech companies in the U.S. attracted nearly $7.5 billion in venture capital funding in the second quarter across 194 transactions, up nearly 70% year over year. Companies operating in the payments sector drew in the most capital. Heightened digital adoption has led to strong fundraising among fintechs in other parts of the globe as well. Privately held fintechs based in the Asia-Pacific region were on pace to exceed pre-pandemic fundraising in the first half of 2021. They raised $5.56 billion, more than double year-ago figures. Fintechs rely on funding to drive customer acquisition, expand into new markets and invest in new capabilities. Pandemic-driven lockdowns accelerated digital finance adoption, and several fintech companies expedited their own expansion plans. Payment providers like PayPal and Square’s Cash App saw major spikes in new users early in the pandemic as customers shifted toward digital channels to handle transactions and obtain stimulus payments. Mobile payment platforms built on the momentum by adding nonpayment services like direct deposit or stock trading, hoping to transform themselves more rapidly into mobile financial hubs. The goal is to increase user engagement, especially into higher-margin products and services. Consumer engagement drives revenue as mobile payment platforms collect fees on transactions; it is also an indicator of how much consumers value the app. Fintechs hope that if consumers see utility in the wider array of products and services, such as PayPal’s upcoming high-yield savings account, consumers will store larger amounts of money within the platforms for longer. Larger account balances should boost profitability by driving greater engagement with the platforms’ expanding suites of payment and banking products and should lower the cost of facilitating transactions for payment providers. Transactions that draw on stored funds are generally cheaper to facilitate than transactions backed by credit and debit cards. The relentless push by certain major players to build omnichannel payment platforms, provide more banking services, and upgrade apps to rebrand them as mobile financial hubs should augment the perceived value of these apps and support engagement. These efforts should translate into higher dollar amounts being stored therein, putting fintechs more firmly in competition with traditional banks. Digital payments raised far more money than other US fintech sectors in Q2’21 3.0 Aggregate value raised ($B) Number of transactions 60 Aggregate value raised ($B) Number of transactions2.550 2.0 40 1.5 30 1.0 20 0.5 10 0.0 0 Payments Banking Digital lending Investment and Insurance Financial media technology capital markets technology and data solutions technology Data compiled Aug. 6, 2021. This analysis uses a best-efforts approach to capture only the portion of the offering raised during the second quarter of 2021, excluding tranches that closed prior to that time frame. Based on the assumed closing date of the offering as of the time the data was compiled. Rounds might be subsequently extended. Reflects private placements completed by private, U.S.-based fintech companies, as defined by S&P Global Market Intelligence, in the time period shown. Excludes debt transactions. Source: S&P Global Market Intelligence © 2021 S&P Global Market Intelligence. All rights reserved. spglobal.com/marketintelligence 8

The Big Picture Further Reading Cloud of excess liquidity continues to hang over US banks US community banks face an earnings recession Mobile payment platforms expand offerings rapidly to court users Digital wallets encroaching on banks’ turf, seeking to build cash in accounts US fintech funding grows nearly 70% in Q2 Surge in APAC fintech funding could fuel more M&A activity 2021 India Mobile Payments Market Report About FIG Research Financial Institutions Research at S&P Global Market Intelligence is the essential source for intelligence and analytics on the banking, insurance and financial technology sectors. Combining expert analysis of recent developments and deep historical knowledge with S&P Global’s unmatched data resources, our analysts explain the most important trends facing financial institutions and forecast what is coming next. About S&P Global Market Intelligence At S&P Global Market Intelligence, we know that not all information is important—some of it is vital. Accurate, deep and insightful. We integrate financial and industry data, research and news into tools that help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuation and assess credit risk. Investment professionals, government agencies, corporations and universities globally can gain the intelligence essential to making business and financial decisions with conviction. S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/marketintelligence. spglobal.com/marketintelligence 9

CONTACTS The Americas +1 877 863 1306 [email protected] Europe, Middle East & Africa +44 20 7176 1234 [email protected] Asia-Pacific +852 2533 3565 [email protected] www.spglobal.com/marketintelligence Disclosures Copyright © 2021 by S&P Global Market Intelligence, a division of S&P Global Inc. These materials have been prepared solely for information purposes based upon information generally available to the public and from sources believed to be reliable. S&P Global Market Intelligence, its affiliates, and third party providers (together, “S&P Global”) do not guarantee the accuracy, completeness or timeliness of any content provided, including model, software or application, and are not responsible for errors or omissions, or for results obtained in connection with use of content. S&P Global disclaims all express or implied warranties, including (but not limited to) any warranties of merchantability or fitness for a particular purpose or use. S&P Global Market Intelligence’s opinions, quotes and credit-related and other analyses are statements of opinion as of the date they are expressed and not statements of fact or recommendation to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. S&P Global keeps certain activities of its divisions separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain divisions of S&P Global may have information that is not available to other S&P Global divisions. S&P Global provides a wide range of services to, or relating to, many organizations. It may receive fees or other economic benefits from organizations whose securities or services it may recommend, analyze, rate, include in model portfolios, evaluate, price or otherwise address. © 2021 S&P Global Market Intelligence. All rights reserved. www.marketintelligence.spglobal.com

1/14/22, 12:15 PM Top 10 trends in banking for 2022  No comments Top 10 trends in banking for 2022 As we look forward to 2022, digital transformation will continue to drive re-invention and innovation across all sectors of the financial services industry. And, as the lines blur between industries, they will also blur between traditional financial services segments. More integrated experiences for all customers. Financial institutions of all sizes and across all industry sectors will compete on the basis of hyper-personalized experiences, which can only be delivered by integrating that experience across the entire customer journey. Commercial banking customers expect the same experience as in their retail environment and experiences. With innovation finding its way deep into customer experiences, their expectations are rising. There will be a blending of the commercial and retail customer experiences. Large banks will focus on offering value added services to their commercial customers and creating new revenue streams through better integration with ERP systems, embedding finance, payments and information services. Embedding payment services is key to delivering a differentiated experience. To do so, financial institutions, retailers, healthcare, and every other industry that relies on a payment transaction will utilize APIs and SDKs to make it happen. There will be major consolidation in the neo retail banking world. There are far too many neo banks offering one or two services, which is unsustainable. They will look to merge or consolidate to accelerate growth trajectories. The big banks still have the customers and will focus on upgrading their experiences by partnering with fintechs. Fintechs attack inefficient areas of the ecosystem to deliver better services and customer experiences. The use of data to improve customer experience will be the key drivers for core banking integration to deliver higher value services – be it in spend, borrowing, investing or saving. Banks will continue to offer more integrated services to other “front-end banks” and generate new revenue streams from their back-office capabilities. Banks are also https://www.dqindia.com/as-we-look-forward-to-2022-digital-transformation-will-continue-to-drive-reinvention-and-innovation-across-all-sectors-of-… 1/2

1/14/22, 12:15 PM Top 10 trends in banking for 2022 investigating the use of new core banking platforms to support digital transformation efforts including application modernization , cloud , APIfication of existing services. Banks will focus on building the next generation experience, specifically to be relevant for their customers in real-time and support anywhere, anytime banking. An unexpected lesson from cryto exchanges – customer will be demanding financial services 24×7. “Banker’s hours” will become a thing of the past. Most large banks will slowly adopt support for crypto currencies and support Central Bank Digital Currency (CBDC) initiatives as regulators are showing support for the same. This trend is not new, but it’s coming to a head in 2022. Customers have been decentralizing their financial services for years, picking the best provider for individual services. This flexibility is great for the customer, but also adds unnecessary complexity. 2022 will be the year of simplification – simplifying the customer experience and the ecosystem through partnerships and consolidation. However, this requires the ability to leverage technology to simply the complex. Therefore, financial institutions of all types will be required to partner more aggressively than ever before with technologists outside of their organization that can bring deep digital engineering expertise together with core industry experience to simply the complex and provide value to their customers. — Bipin Sahni, Chief Strategy Officer, BFSI, Persistent Systems. https://www.dqindia.com/as-we-look-forward-to-2022-digital-transformation-will-continue-to-drive-reinvention-and-innovation-across-all-sectors-of-… 2/2

Top Trends Transforming Business Banking in 2022 and Beyond Financial institutions are especially vulnerable to losing small-to-medium sized businesses to fintech entrants. SMBs have typically been underserved when it comes to tech innovation or new digital services. More than six in ten businesses in this large segment go outside their primary bank for business services such as payments and receivables. By The Financial Brand's Editorial Team An innovation revolution is roiling business banking just as it has consumer banking. When it comes to sleek new tech and shiny new digital products and features, much of the innovation has long been focused on the consumer side of banking. Business banking, meanwhile, remains stuck in neutral, saddled with legacy tech and processes, many of which are still largely paper-based. But banks that can ramp up their game when it comes to business banking services stand a good chance of getting a leg up on competitors and driving revenue. Individuals that use business banking services are, after all, consumers as well, and increasingly they are demanding the same type of innovation they get in their consumer lives from their business banking relationship. One area banks can start with is enabling real-time treasury management services. The treasury management space is still riddled with legacy payments processes that often take days to clear. The transformation of legacy and inefficient treasury operations into real-time management holds enormous potential, with a chance for treasurers to step back from repetitive tasks and fulfill their risk and liquidity operations more strategically, advises consulting firm Capgemini in a report titled “Top Trends in Commercial Banking 2022.” ‘Exhibit A’: Treasury management services represent an area primed for innovation (and disruption) as it is typically rife with inefficiencies. “Real-time payments enable banks to provide 24/7 or after-hours services, enhancing a traditionally cumbersome and unpleasant customer experience,” the report states. “Treasurers can take advantage by exploring foundational solutions such as intra-day sweeping, virtual accounts, and advanced cash-flow forecasting, as well as real-time FX conversion and hedging.” By offering real-time treasury services banks can enable their clients to save significant time on the daily cash management processes, Capgemini notes, and ultimately deepen the relationship. “Real-time balance and transaction reporting help the treasury minimize idle balances and track the movement of cash effectively, reducing the risk of fraud,” the firm adds. Read More: How Square is Building a Small Business Banking Powerhouse Community Institutions’ Golden Opportunity to Grow Small Business Loans Good Digital UX Is Now Table Stakes for Small Business Banking Success

The Pressure Grows from Fintechs Banks have faced pressure to up their game over the past decade due to competition from fintechs when it comes to consumer facing technology. This pressure is now rising significantly when it comes to business banking as well. Going for the ‘Core’: Fintechs are increasingly taking business away from banks in areas such as commercial lending. “In the past, fintechs made incremental inroads into commercial banking with niche products to improve process efficiency,” the Capgemini report states. “But, now, new-age players are rebundling commercial offerings using the modus operandi they successfully deployed in retail banking.” The consulting firm cites fintech firms such as Stripe and U.K.-based Paysme as examples of new types of competitors that are creating business banking ecosystems, as well as many of the so-called “super apps” gaining traction as well, including PayPal. Intuit is another example of a tech company expanding further into business banking. Dig Deeper: Why Banks Must Take PayPal’s ‘Super App’ Seriously Intuit Is Drilling Even Deeper into Small Business Banking Banks are especially vulnerable to losing small-to-medium sized businesses to new entrants. This is a segment that has typically been underserved when it comes to tech innovation or new digital services. In fact, more than 60% of small and medium-sized business go outside their banking partner for business services such as payments and receivables, Capgemini states.

“Such trends demonstrated a strong case for fintechs to orchestrate super apps for businesses,” the firm continues. “The evolution of APIs and the nimble technology stack of fintechs has streamlined the integration of banking and non-banking players into the ecosystem. Moreover, platformification, with its full view of all the integrated finances, allows business owners to make quick decisions, which creates a win-win scenario for all players.” Small Business Lending Up for Grabs This trend is also playing out in small business lending, where new fintech entrants are serving needs that have largely gone unmet by traditional financial institutions. In an Economist Impact poll of 300 lenders, comprised of both traditional financial institutions and fintechs, alternative lenders such as payments firms, peer-to-peer platforms and buy now, pay later services were seen as gaining the biggest rise in market share in small business lending over the next two years.

These new entrants are mostly active in the smaller loan space (defined as loans less than $50,000) — an area not often targeted by banks — but are gaining traction now even in larger loan amounts. “Fintechs such as payment players, peer-to-peer lenders and crowdfunding platforms use sleek user interfaces and insights from predictive algorithms to attract customers with speedy, personalized and flexible lending solutions,” the Economist Impact report states. Read More: What Millennial & Gen Z Business Owners Want from Banks Of course, banks cannot rest on their laurels as fintechs and other new players whittle away at their business customer base. And many are not; incumbent players are leveraging their branch presence to combine technology and the human touch into a “high-tech high-touch” customer experience, the survey found.

Traditional banks are also seeing the importance of investing in cutting-edge technologies in order to serve business clients better. Nearly half of the survey respondents said investing in new technology would be the most important trend over the next two years, with artificial intelligence being the most popular technology cited. “However, it is the differences in how traditional lenders and fintechs perceive borrowing appetite that is telling,” the Economist observes “An impressive 47% of fintechs saw an increase in borrowing appetite, against just 28% of traditional lenders. These findings are supported by research by Roland Berger, a consultancy firm, which states that 86% of small businesses are considering alternatives to traditional bank loans.” When it comes to where they are looking to grow lending as we move into a Covid-coping world, lenders worldwide are most focusing their growth efforts on business lines of credit (selected by 31% of respondents), secured loans (31%) and term loans (27%), according to the Economist survey. Read More: How to Nail the Small Business Banking & Lending Market The Stakes Have Shot Up for Small Business Banking How the ‘New Normal’ is Driving Change in Small Business Lending The Importance of Open APIs in Business Banking The concept of open banking is gaining significant traction in the retail banking space, but it also has a role to play in business banking as well. Adopting an open mindset can allow banks to act as platforms connecting their business clients to a wide range of products all offered through their ecosystem. Open World:

p Banks and credit unions have the opportunity to offer business clients a platform-like service in which they can integrate fintech and non-finance offerings in an ecosystem. “This means APIs can enable banks to access more customers than they ever could through their own channels, and drive innovation and partnerships in a faster, cheaper and more effective way,” says technology vendor Finastra. Banks in this model can also utilize competitor’s APIs, as well as fintech innovations, to create better business banking services. “Through platform service models, banks can attract a more extensive customer base at a lower cost,” says Capgemini. “This opens an excellent opportunity for banks to integrate their services with fintech and non- finance offerings, open new businesses at attractive margins, and obtain a deeper understanding of consumer behavior through more data.”

install BitWarden's extension in your browser. Android Update | iPhone Update | Cybersecurity VPN | Privacy | VPN Browser settings to change ASAP if you want to protect your privacy Your browser privacy could be better in Google Chrome, Safari, Firefox and others. Rae Hodge LISTEN - 07:28 Jan. 9, 2022 10:00 a.m. PT James Martin/CNET Privacy is now a priority among browser makers, but they may not go as far as you want in fighting pervasive ad industry trackers. So, why not take your online privacy in your own hands this year? By changing some browser settings, you can crank up your privacy to outsmart that online tracking. Problems like Facebook's Cambridge Analytica scandal elevated privacy protection on Silicon Valley's priority list by showing how companies compile reams of data as you traverse the internet. Their goal? To build a richly detailed user profile so you can become the target of more accurate, clickable and thus profitable advertisements. Brett Pearce/CNET

Apple and Google are in a war for the web, with Google pushing aggressively for an interactive web to rival native apps and Apple moving more slowly -- partly out of concern new features will worsen security and be annoying to use. Privacy adds another dimension to the competition and to your browser decision. Apple has made privacy a top priority in all its products, including Safari. For startup Brave, privacy is a core goal, and Mozilla and Microsoft are touting privacy as a way to differentiate their browsers from Google Chrome. It's later to the game, but Chrome engineers are building a \"privacy sandbox\" despite Google's reliance on ad revenue. For all of the browsers listed here, you can give yourself a privacy boost by changing the default search engine. For instance, try DuckDuckGo. Although its search results may not be as useful or deep as Google's, DuckDuckGo is a longtime favorite among the privacy-minded for its refusal to track user searches. CNET HOW TO Learn smart gadget and internet tips and tricks with our entertaining and ingenious how-tos. Add your email SIGN ME UP! By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time. Other universal options that boost privacy include disabling your browser's location tracking and search engine autocomplete features, turning off password autofills, and regularly deleting your browsing history. If you want to take your privacy to the next level, consider trying one of the virtual private networks CNET has reviewed that work with all browsers. (You can also check out our roundup of browser-based VPNs to try and the best VPNs for Windows.) In the meantime, though, here are some simple settings you can change in your browser to help keep a good portion of advertising trackers off your trail. MORE TECH TIPS Facebook privacy settings you'll want to check right now What digital security experts wish you'd do to protect your phone app privacy Ditch Google Chrome and use this privacy-focused browser instead Chrome browser privacy settings to change

James Martin/CNET The world's most popular browser is also generally thought to be one of the least private when used straight out of the box. On the plus side, however, Chrome's flexible and open-source underpinnings have allowed independent developers to release a slew of privacy-focused extensions to shake off trackers.  In the Chrome Web Store, click Extensions on the left and type the name of the extension you're looking for into the search bar. Once you find the correct extension in the search results, click Add to Chrome. A dialog will pop up explaining which permissions the extension will have for your browser. Click Add extension to bring the extension into your browser. If you change your mind, you can manage or remove your extensions by opening Chrome and clicking the three dot More menu on the right. Then select More Tools and then Extensions. From here, you'll also be able to see more about the extension by clicking Details.  Here are four extensions to look at as you get started: Cookie Autodelete, uBlock Origin, Privacy Badger and HTTPS Everywhere. If you're on Android, sorry: extensions don't work. So you'll have to switch browsers altogether to something like DuckDuckGo's app. In the same three-dot menu in Chrome, you can also block third-party cookies by selecting Settings, then scrolling down to the Privacy and security section and clicking Cookies and other site data. From here, select Block third-party cookies.  Read more: Google Chrome privacy isn't the best. These browser extensions will help Safari browser privacy settings to change

Angela Lang/CNET By default, Safari turns on its proprietary Intelligent Tracking Prevention tool to keep you a step ahead of privacy pests. Even so, the tool hasn't always worked smoothly since its 2017 debut. Google researchers spotted how Intelligent Tracking Prevention itself could be used to track users, though Apple buttoned down the problem. Safari 14 is able to tell you which ad trackers are running on the website you're visiting and give you a 30 day report of the known trackers it's identified while you were browsing. It'll also tell you which websites those trackers came from. To check that blocking is on, open Safari and click Preferences, then Privacy. The box beside Prevent cross-site tracking should be checked. While you're there, you can also manually delete your cookies. Click Manage Website Data to see which sites have left their trackers and cookies hanging out in your browser. Click Remove next to any of the individual trackers you're ready to get rid of, or just nuke the whole list by clicking Remove All at the bottom of your screen.  Cookies can be helpful, not just invasive, but for stronger privacy you can block them altogether -- both first-party cookies from the website publisher and third-party cookies from others like advertisers. To do so, check the box beside Block all cookies. If you're still looking for another layer of privacy, you can also install helpful extensions from the App Store like AdBlock Plus or Ghostery Lite for Safari.  Read more: Safari joins browsers that tell you who's trying to track you Edge browser privacy settings to change

Microsoft Microsoft's Edge browser includes some simplified privacy and tracker blocking options on its Tracker prevention screen. Within Edge, select the three dot menu icon in the top right corner and select Settings. From the menu that then appears on the left, select Privacy and services.  You'll be offered three settings to choose from: Basic, Balanced and Strict. By default, Edge uses the Balanced setting, which blocks trackers from sites you haven't visited while still being lenient enough to save most sites from some of the loading problems that may come with tighter security. Likewise, Edge's Strict setting may interfere with how some sites behave, but will block the greatest number of trackers. Even the Basic setting will still block trackers used for cryptomining and fingerprinting.  Read more: Microsoft Edge privacy settings to change right away Firefox browser privacy settings to change Angela Lang/CNET Firefox's default privacy settings are more protective than those of Chrome and Edge, and the browser has more privacy options under the hood, too. From inside Firefox's main menu -- or from inside the three lined menu on the right side of the toolbar -- select Preferences. Once the Preferences window opens, click Privacy & Security. From here, you'll be able to choose between three options: Standard, Strict and Custom. Standard, the default Firefox setting, blocks trackers in private windows, third party tracking cookies and cryptominers. The Strict setting may

break a few websites, but it blocks everything blocked in Standard mode, plus fingerprints and trackers in all windows. Custom is worth exploring for those who want to fine tune how trackers are being blocked.  To apply your new tracking settings after you've selected your level of privacy, click the Reload All Tabs button that appears.  Read more: With Firefox, stop leaking your data across the internet Brave browser privacy settings to change Brave When it comes to anti-tracking tools, Safari's latest privacy updates are still short of most of those found in the Brave browser. By default, Brave blocks all ads, trackers, third-party cookies and fingerprinters while still achieving blazing speeds. Brave also offers a built-in Tor private browsing mode, a heavy-duty tracker blocking option, and added a built- in VPN for iOS users. Inside Brave's main menu, select Preferences to reveal the Settings panel on the left. Select Shields to see a list of privacy options on the right side of the screen. By selecting the Advanced view, you'll be able to choose which kinds of trackers to block. By scrolling down, you'll also be able to block login buttons and embedded content from Facebook, Twitter, Google and LinkedIn. For even more protection and privacy fine tuning, explore Additional Settings on the left, and select Privacy and security. Read more: If you're worried about your online privacy, this is the browser to use For more, check out the best password managers of 2021 and our FAQ on the Tor browser. First published on July 30, 2020 at 3:28 p.m. PT. Tech Tips | Cybersecurity | Services and Software | Microsoft Edge | Advertising | Brave Browser Chrome | Firefox | Hacking | Privacy | Google | Microsoft | Mozilla | Safari | Apple

This privacy-focused browser stops websites tracking you even better than Chrome does Everything you should know about Brave, the Google Chrome rival that keeps your data from prying eyes. Clifford Colby, Rae Hodge LISTEN - 04:26 68 Dec. 31, 2021 5:00 a.m. PT Do you really know who's watching? Angela Lang/CNET No one wants to leak their private information as they browse the web. Chrome, Safari, Firefox and other popular browsers can help keep your data away from prying eyes. The caveat, however, is that securing those browsers means setting up a few security-minded extensions or tweaking privacy settings in preferences. There is one browser -- with its own privacy-focused search engine -- that takes the setup and fiddling out of the process, going all-in on guarding your data.  Out of the box, Brave browser blocks trackers and third-party cookies that monitor your activity as you travel across the web. But the browser also gives you control over what you do and don't want to be blocked -- from ads and cookies to Facebook and Google login buttons. MORE FROM 12 DAYS OF TECH TIPS

Change these browser settings ASAP to better protect your privacy Phone security New Year's resolutions: What the experts recommend If you care about privacy, use this default search engine in Chrome, Safari and Firefox Get the CNET Apple Report newsletter Receive the latest news and reviews on Apple products, iOS updates and more. Delivered Fridays. Add your email Yes, I also want to receive the CNET Insider newsletter, keeping me up to date with all things CNET. SIGN ME UP! By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time. The maker of the unusual Brave browser said it understands that its strict blocking policy has a consequence for websites: You don't see ads that help support the creation of website content. To compensate content creators, Brave takes a clever approach that allows you to make anonymous contributions to websites you visit. Publishers then receive the contributions in the form of cryptocurrencies once they opt into the system. Or you can allow ads and tracking in Brave's settings if you can't be bothered. But the cost of being tracked is losing control of your privacy. Watch this: Everything to know about the Brave 2:09 browser Available for Windows, MacOS, Android, and iOS, the Brave browser is built on the same foundation as Chrome, which means Brave can use Chrome extensions. In fact, when you click \"Find extensions and themes\" in Brave's settings, you are taken to the Chrome Web Store to find extensions and themes for the browser. And just because Brave is built on a Google-developed framework doesn't mean you're restricted to using Google as your default search engine. Brave has released a public beta version of its own privacy- focused search engine, designed to go head-to-head with Google, called Brave Search, which will become the default search engine in the Brave browser later this year. You can try out the Brave Search beta now on your desktop.  Read more: The best web hosting providers for 2021, best browser- based VPNs, and best antivirus software. In terms of Brave Browser for mobile, you may have to wait until Brave Search is enabled by default through another Brave Browser update. Currently, there is no option to manually add Brave Search. You can still