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Five Facts on Fintech

Asia is ahead of other regions in many aspects of fintech. In China, the massive scale of its markets and a regulatory “light touch” in the early years supported fintech development, with China emerging as a global leader. In India, large-scale adoption of mobile payments and increase in money transfers have driven growth in the mobile payments

Recreational drug use surges worldwide, cannabis most popular: UN report

The use of cannabis, cocaine, amphetamines and prescription stimulants are at post-recession highs in the U.S., the study said. And although the use of prescription opioids has dipped recently, the number of overdoses has increased. More than 47,000 deaths were recorded there in 2017, many of them attributed to synthetic opioids such as fentanyl.

RMS releases underwriting tools deliver rapid, site-specific insights

Karen White, CEO of RMS, said: “We have listened to the market, and to our clients. We know that there are times when full in-depth analysis is essential and there are times when immediacy of information is paramount. With our expanding suite of data solutions, a consistent and superior view of risk from underwriting up to portfolio management is now possible. RMS Location Intelligence API and SiteIQ can deliver immediate results at the times when they are needed the most for our clients.”

Cyber Liability: the last frontier of the insurance

Buyers are turning to carriers for comprehensive pre-breach and post-breach cyber risk management services, and carriers are responding, either directly or by offering these services through third parties.  Some of these services include network vulnerability scanning, penetration testing both internally and externally of the network, assistance with business continuity planning, GDPR readiness and more

Cyber risks are jeopardizing M&A Deals

Of more than 2,700 information technology and business decision makers surveyed by Forescout Technologies Inc. in seven countries, 53% reported that their organization had encountered a critical cybersecurity issue or incident that put an M&A deal in jeopardy. And 65% of respondents said they had experienced buyers’ remorse because of cybersecurity concerns after closing a deal.

China creates insurance group to take over troubled insurer Anbang

During a two-year acquisition binge through 2016 that included New York’s iconic Waldorf Astoria Hotel, Anbang became synonymous with China’s unbridled appetite for international trophy assets. That ended when authorities took over the group after former Chairman Wu Xiaohui was sentenced to 18 years in prison for fundraising fraud. They then began selling some of the assets it had accumulated.

S. Africa insurer discovery opens Bank, challenging traditional lenders

Despite the complexities of linking more than 120 systems spanning Discovery’s life, health, short-term insurance and money management businesses, banking customers will see a single interface where they can do most transactions in just three clicks, Discovery Chief Executive Officer Adrian Gore said in an interview in Johannesburg.