This week — 07.19 - 07.23 — was intense and chaotic in terms of data violation attacks and their implications for the whole world. And all this only proves that practice is the mother of tuition — your vast fintech and banking intelligence is the key to defense! Don’t allow the perpetrators to fool you and come in the guns blazing!
Fresh Cyber Crimes or Read to Know Your Enemy
Hungary and France Are Under the Malware Attack: NSO Denies Its Fault
Politicians, journalists, and human rights activists all over the world are the victims of recent malware espionage. Mostly, it is Hungary that has suffered from the involuntary data leakage, but France, Mexica, India, and many other countries are also at gunpoint. According to the Pegasus Project investigation, more than 50,000 mobile phones are hit by malware of the NSO Group’s origin. Though the organization doesn’t admit its connection to the fraudulent case, the stolen information is already in the hands of Amnesty International. Are you sure that your mobile device is protected enough?
Microsoft Exchange’s Email Server Is Hacked: Will China Answer for That?
Phones aren’t the only object of present-day cyber crimes. Computers are no lesser vulnerable, even if we speak about Microsoft. The US officials leveled blame at China, and it’s the first-ever accusation case supported by the EU, so the seriousness of hack damage should be extremely high. Meanwhile, Biden’s administration informed the public about the other cyber threats from Beijing, which were targeted at corporations with millions of dollars in financial status. Chinese authorities refuse the allegations, asking to provide evidence for this big announcement. So, whom do you believe?
Pegasus Spyware: Is Emmanuel Macron Another Hackers' Victim?
Amnesty International reported that the French head of the state is on the list of the recent cybercrime attack by the NSO Group. King Mohammed VI (Morocco), Saad Eddine El Othmani (Morocco), Imran Khan (Pakistan), and Mustafa Madbouly (Egypt) are among the other political figures that have a reason to worry too. And which companies' names did come out in this relation? Get it clear!
Fintechs' Plans For the Rest of 2021
Soldo Is Going to Cut Even the Bigger Lump of European Dominance
The European firm, specialized in expense automation, now encompasses more than 26,000 SME users around the globe and plans to conquer Germany, France, and Benelux. Having acquired the support of big fintech players such as Checkout.com, Starling Bank, and Revolut, the company made a hit at the latest Series C by reaching $180m for further market expansion. What’s under the hood of its success? The mission is to relieve the European companies' pain by making them more cost-aware and reducing their redundant business spendings. For now, the latter waste 2% of their annual turnover after COVID-19 lockdown, so the benefit is on the surface, right?
Yapily’s Valuation Raised to $69m after the Series B Push
API infrastructure is the evident sign of the enhanced open banking model, and many European companies aren’t blindsided by that. No surprise then how quickly the penetration of the API comes out in online global commerce. Yapily is the one that embraces the API technology to serve the needs of the new markets. Whose turn is it? Italy and France? Or maybe the one least expected?
Spendesk Will Use the New Cash to Sustain Its Business Growth
The Paris-originated fintech pounces on the opportunity to accelerate its hiring and product development processes. Namely, General Atlantic Series C allowed the all-in-one finance control company to gain the €100m bid, which will be spent on bringing further input into the expense management and budgeting process. Presently, Spendesk is already notorious for its invoice technologies, virtual and physical cards, payment tools, and automated spend approvals. Is this vast range of functions ensured its revenue and team doubling while the majority just bemoaning their post-pandemic downfall? Hard to say, but Spendesk definitely is in the limelight these days. Keep your eye on it!
Do You Cut Through Finance Like a Knife Through Butter?
Don’t You Know Where The Rich Startups Hub Lies? Dubai!
Perhaps, you’ve initially thought about London, but Dubai is truly another new heaven for the startups' flourishing. Can you imagine that the city’s economy is run significantly on it? Precisely, 46% of Dubai’s GDP refers to the revenue generated from land-based startups. Intending to be profitable, the entrepreneurs are logically coming to the business incubators or accelerators to get the industry consulting service as anyone wants to flop. The most well-known aid providers include Ztartup, Astrolabs, FinHive, Bedayat, and In5. Their focus areas are training, research, product/service pre-testing, co-working provision, and even investment opportunities. Who else is so enterprising as the UAE?
Outsourced Trading — Is It a New Breakthrough for Modern Businesses?
Since the time Westwood Holding Group has portrayed outsourced trading as an efficient tool, many businesses have also realized its pros. Among them, costs reduction, broader trade experiences (niche expertise isn’t always obligatory), and business continuity are at the top of the list. Moreover, under the pandemic realities, this mode of trading operation is more than justified as it improves the quality of relationships with execution venues and, consequently, moves from the survival to the scale enlargement phase.
Junior Capital: Does It Possess More Advantages than Drawbacks?
Experts claim that the private subordinated/junior capital can appear as the new treasure for yield searching. First, it has shown its resilience to the world financial crisis by keeping the steady annual returns indices for 15 years in a row — 11%. Isn’t magic? Second, its value is defined by the borrower’s credit history, which makes it independent from the daily fluctuations of interest rates or supply-and-demand interplay. Third, its asset market is large, with a great number of participants involved, which leaves place for a choice. However, there are 2 major hardships to consider before a start: portfolio preparation and track record. The former requires market/product specialization, while the latter needs practice and some sort of bureaucracy overcoming. But doesn’t for that the quality manager exist?
Are you questioning your company’s data security standards right now? Or have you picked up the new useful concepts for your expertise luggage? Any questions left to us? If you have some, drop us a line, and Dashdevs will provide you with the best consulting you’ve dreamt about!