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Beyond Bitcoin: How Developers are Helping Traditional Banks Modernize

This article was originally published by Index Code

 

Bitcoin and blockchain tend to grab headlines in the world of banking. Cryptocurrency is the poster child of “disruptive technology” in the traditionally slow-moving finance industry. But, there are other areas where developers and software engineers must update business-as-usual in banking in order to survive.

 

According to one survey, 80% of bankers agreed that their institution “needs to complete an assessment over the next three years, but only 15% expected that to lead to a modernization effort.” Security threats, the demand for mobile banking, and outdated core banking systems are all driving banks to consider massive overhauls to their IT systems. These are the biggest modernization challenges facing financial institutions – areas where developers and remote software teams can play a significant role in keeping banks competitive.  Read more of this post

The Future of Money [Infographic]

This gorgeous infographic, which was created by Envisioning Technological Research Foundation, traces the history of money (and other previous methods of exchange) and provides speculation on the future evolution of money. Realization of this potential for a more decentralized, distributed system would significantly impact our lives. As explained in the infographic, “People are coalescing and demanding free, real-time access to their transaction information in order to reclaim financial decisions from institutions.”

Envisioning is an independent, virtual research institute based in Brazil. The global team is comprised of academics, designers, and hackers. Their mission is to study technology in order to understand accelerating change and provide technological foresight to policy and decision-makers worldwide.

To see an enlarged image of this infographic or download a PDF copy, click here.

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