Test Drive: SafetyNet – Overdraft Avoidance Open Banking Fintech

SafetyNet is a UK Open Banking fintech that provides Overdraft Avoidance. While the uninitiated can Google “overdraft protection” for a prosaic definition of the term, Stanley Bing offers the following tongue-in-cheek description for one of the most lucrative products of banks: No matter what you spend with your debit card, even if you have no money in … Read more

AWS Snowmobile: Because Data Is Still Transported Physically

AWS Snowmobile is an 18-wheel truck that physically transports Exabyte-scale data from customers’ premises to AWS Regions in a 45 feet container. For the uninitiated: 1 Exabyte = 1000 Petabyte = 1,000,000 Terabytes = 1,000,000,000 Gigabytes. AWS Regions are separate geographic areas that Amazon uses to house its AWS infrastructure. These are distributed around the … Read more

Three Strike Rule To Eliminate Cybercrime

In his ET WEALTH column entitled If it seems too good to be true, it probably is, Dhirendra Kumar describes the following asymmetry between victims and perpetrators of cybercrime: Individual victims – even when they are well-off and educated – are poorly equipped to detect fraud. The fraudsters are invariably well-experienced at what they’re doing … Read more

Hair Splitting In Finance

Between Eight WYSINWYG Terms In Finance – Part 1 and Eight WYSINWYG Terms In Finance – Part 2, we covered eight terms in finance that should not be taken literally i.e. they’re WYSINWYG (“What You See Is Not What You Get” – to be pronounced “wisinwig”). To recap, they were: Nonprofit Company Winner Takes All … Read more

Eight WYSINWYG Terms In Finance – Part 2

WYSINWYG (to be pronounced “wisinwig”) means “What You See Is Not What You Get”. We described four WYSINWYG terms in finance in Eight WYSINWYG Terms In Finance – Part 1: Nonprofit Company Winner Takes All Banking the Unbanked Too Big To Fail We will cover four more finance WYSINWYGs in this second part. #5. MARKET … Read more

Eight WYSINWYG Terms In Finance – Part 1

There are many terms that don’t mean what they say. Some are misnomers e.g. Nonprofit Others sound broader than they are e.g Insider Trading Still others are obfuscatory e.g. KYC. I’ve coined the term WYSINWYG to represent such terms. As you might have guessed, WSINWYG (to be pronounced “wisinwig”) stands for “What You See Is … Read more

Role Of Business Analyst In Payments

This blog post is a slightly edited version of my answer to the following Quora question: What is the role of a business analyst in the payments domain? I assume that the question refers to “payments technology” domain and consider the case of a Business Analyst (BA) who works for a tech vendor that provides … Read more

10 Best Answers For Peter Thiel Interview Question – Part 2

In 10 Best Answers For Peter Thiel Interview Question – Part 1, I gave five answers to the following Peter Thiel interview question: What is the one thing that’s true but nobody believes it when you tell them? In this second part, I’ll give five more. Here goes. #6. Fixed deposit beats inflation Matt Levine … Read more

People Buy From People But Must Get Used To Paying Numbers

Back in the day, when you wanted to pay Tom, you whipped out your cheque book, wrote Tom’s name in the payee field, and handed over the cheque to Tom. Things were simple. Then banks introduced electronic payments. You no longer paid Tom. You paid Tom’s Account Number and IFSC Code / Sort Code / … Read more