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After a period of excitement, Facebook launched the most anticipated white paper for its digital asset called Libra. A lot of the pending details will be released on or prior to public launch in the first half of 2020. The information that we have are: Libra Coin will be a global currency backed by a basket of bank deposits and treasuries from high-quality central banks which will allow you to send money at nearly zero fees.   Calibra wallet for holding the Libra coins will be integrated across WhatsApp, Facebook , Messenger and Instagram . For this venture, Facebook will also set up a subsidiary, Calibra (not to be confused with Calibra wallet), which is expected to protect users' data and privacy and not mingle payments with user data, to prevent ad targeting. It is quite apparent from social media that the majority of the crypto community is very excited by Libra. But the evolution of space as this is a bit ironic since it is not a cryptocurrency (like bi...

For decades, the banking industry had been based on branch-based and mainframe-supported operations that solely focused on the efficiency of processing transactions in person, at ATMs, on the phone, and with plastic cards. But, the impact of digital technology lately has moved to make transactions out of the branch and on to mobile devices in the face of advanced data analytics allowing for personalized delivery of services. The integration of AI, robotics, blockchain, open banking APIs and the internet of things is about to accelerate the pace of digital change exponentially. We are already seeing multiple tests of all of these digital technologies to different degrees across the industry. These tests are significant to keep pace with consumer expectations. Artificial Intelligence and Machine Learning - To improve customer service, organizations are testing the use of chatbots while machine learning is being used to decrease fraud and improve personalization. Blockc...