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An antisemitic mob stormed an airport in Russia’s Dagestan region last Sunday and hunted for Jewish passengers arriving on a flight from Israel. The incident was a grim reminder of the hatred percolating in Russia, where neo-Nazism is too often celebrated and Jews are increasingly being made into scapegoats.

Adam Zivo: Dagestani airport riot exposes Russia's strategic antisemitism

NBM Korea Co. Officially Certified as Innovation Growth Venture Enterprise under South Korea’s Ministry of SMEs and Startups Entitled to Receive Various Benefits from Tax Reduction, Financial Support & Technology Support

NEO Battery Materials Korea Governmentally Certified as Innovative Growth Venture Enterprise

NBM Korea Co. Officially Certified as Innovation Growth Venture Enterprise under South Korea’s Ministry of SMEs and StartupsAccepted into Most Stringent Classification Out of 4 Certification Categories Enables South Korean Institutional Investors to Participate in FinancingsEntitled to Receive Various Benefits from Tax Reduction,

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Fintel reports that on October 20, 2023, Goldman Sachs maintained coverage of Neogenomics (NASDAQ:NEO) with a Buy recommendation. Analyst Price Forecast Suggests 56.90% Upside As of October 5, 2023, the average one-year price target for Neogenomics is 21.

Goldman Sachs Maintains Neogenomics (NEO) Buy Recommendation

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With over Rs 25,000 crore in assets under advisement (AUA), including Rs 3,000 crore in assets under management (AUM), Neo provides financial advisory and engagement to its clients and is building a one-stop platform to enable transacting and consolidated ...

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The stock price of Neogenomics Inc. (NASDAQ: NEO) has jumped by 8.85 compared to previous close of 12.65. Despite this, the company has seen a gain of 8.08% in its stock price over the last five trading days.

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If you're considering a new smartphone on a budget of under Rs 25,000, let us give you 4 reasons why the Motorola Edge 40 Neo should be at the top of your wishlist and 1 reason why you should skip it. Listen to Story Motorola Edge 40 Neo features a curved ...

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Between 2020 and 2022, the US Federal Funds rate was 0.25% for two years. A mixture of expansionary monetary policy to spur spending along with a reliance on quantitative easing and high debt levels meant that low interest became the new normal. That was until a European war brought on an energy crisis and worryingly high levels of inflation. Rates shot up almost every month in the US until they . The UK followed suit, albeit a little bit behind the US, and has now reached 3%, whilst the EU has only just reached 2%. Even though these figures lag behind inflation in real terms, psychologically, it’s been the first time in years that high-interest savings accounts are an appealing number with substance. reached 4% in November For this reason, the term “neobank” is slowly being introduced to more people. When searching for which bank has the highest savings rate - a search that would seem nihilistic only last year - neobanks often arise in the searches because of their growing popularity and strong savings rates. What are neobanks Neobanks are what many dub a “challenger bank” or “online bank”, a fintech firm that focuses on its software and apps to streamline a more modern online banking experience. Usually, without any high street presence whatsoever, overheads are kept low, services are kept to a minimum, and efficiency, user-friendliness, and low cost are at the forefront of the business model. Neobanks sound like the future, but they’ve been around for a while. The likes of Starling and N26 were founded in 2014 and 2013, respectively, around the same time as many others. But since then, they only have around for personal current accounts in the UK, which is a similar story in other countries. 8% market share The reason for this could be a few things. Firstly, the older generation is technologically illiterate, and such neobanks are impossible to use without a smartphone and a basic understanding of how they work. Secondly, they are limited in what they can offer; many do not provide mortgages, lines of credit, overdrafts, and so on. Finally, there’s an element of familiarity with a high street bank - some people have been with their local branch for 30 years and do not see the need for change. That is, until now… More and more people use the internet to find the best services available to them, even if it’s non-tech local services like banking and insurance. And, in the current environment of central banks trying to encourage saving. The search for “best savings account” has gone up by 300% in volume on Google in the US since last Christmas. The last time the US Fed Funds Rate was this high was in 2008, a time when neobanks didn’t really exist. So, whilst neobanks have been around for a while and some people have stumbled upon them, this may be the first time when masses of people are looking to change banks since their creation. And, if customers find them to offer not just better interest rates but have a slicker user interface and overall experience, this could become the catalyst for a more substantial shift in market share. Comparing saving account interest rates between neobanks and high street banks Below is some research into the idea that neobanks do in fact offer higher savings rates, and as a result could see an influx of customers during the coming months. Bank interest rate US The average APY among high street banks in the US is around 3%. For example, Barclays, Capital One, and Marcus (Goldman Sachs) are all 3%. The current savings account bank interest rate for leading neobanks, however, is 2% at Chime, 4% at Current, 5% for Plus members at Aspiration, and between 2-5% at Varo. Bank interest rate UK For the UK, Lloyd’s Monthly Saver is 4.50% (0.70% for the current account), 1.2% for Co-ops Online Saver ( ), and for HSBC there are a comically vast number of accounts with savings rates . 2.31% for the 1yr Fixed Term Deposit ranging from 0.4% to 3.45% Out of the British neobanks, Starling doesn’t have a savings account (0.05% AER for the current account), 3.46% at Monzo, and 1.95% at Revolut. Bank interest rate Australia In Australia, AMP Bank’s Saver Account has up to 3.6 p.a. Ongoing variable bonus rate, whilst ANZ offers 2.15% for the ANZ Online Saver members. Ignoring the introductory 3.5% rate for 5 months at the Commonwealth bank, the standard GoalSaver account earns 2.55 p.a. When it comes to Australian neobanks, Up, Xinja, Volt Bank, and 86 400 are the noteworthy challengers to the big 5. Up Savers get a straightforward 2.85% p.a. once activated, whilst Xinja customers are getting 1.8-2.25% and 86 400 customers are getting 2.50%. Bank interest rate Canada Canada’s major banks include the Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada, Canadian Imperial Bank, and Scotiabank. can be found, but watch out for the small print. Interest rates of 3% and even 4% Toronto-Dominion Bank offers a 1.40% interest rate to customers, whilst Bank of Montreal isn’t much better at . At the Royal Bank of Canada, customers get 4.2% for 3 months but it soon drops down to their default savings rate, which is 1.3%. Canadian Imperial Bank of Commerce has a regular interest of 1.40% and a smart interest of 0.75%. a 1.60% rate There are some higher rates, like the Scotiabank Momentum PLUS savings account, which is 4.50%, but this is limited to 5 months and has $5 transaction fees. For the Canadian neobanks, Neofinancial has a 2.25% interest rate and 1.5% at Wealthsimple. There are a couple of other grey-area neobanks (because, whilst they act as a neobank would, they are owned by a financial institution, thus making them not a challenger bank). These include EQ Bank, which offers 2.50% interest, and 1% at Tangerine. Are Neobanks really better? The above can appear quite confusing and conflicting, which is partly because banks around the world operate differently under different laws and within different markets - plus, the base rate is different too across the board. Some neobanks appear to have better savings rates than high street banks, but there are many cases of the opposite being true too. However, there are some other factors to consider here in regards to the prediction of neobanks gaining market share. Whilst the interest rates may not be always higher, they tend to be more transparent and straightforward. Looking at the UK’s Co-operative Bank and HSBC websites, there are around 40 accounts with different interest rate and fee structures, whilst most neobanks pursue a very clear and upfront deal. Right away, this makes signing up for neobanks easier. But, it’s not just the clarity, the process is also faster because it’s digitalised. Signing up to high street banks often requires a trip to a physical outlet along with presenting physical copies of your identity and address. Neobanks, on the other hand, usually require a selfie video plus a PDF copy of your identity and address, then await a day (though this can depend) and you’re approved. Finally, high-interest bank accounts aren’t always what they appear to be. Almost all of the accounts that stand out as being a very high savings rate come with many disclosures. For some, it’s that you only get this 4%+ rate for a few months before it drops down (in which you need to search through the small print to find). Secondly, these accounts often want you to lock in your deposits, which can come with withdrawal penalties, or they may have transaction fees and limits, as well as other fees. For example, the commonly applauded Scotiabank savings account has an unnecessary $5 transaction fee. Concluding thoughts Neobanks are better in many ways. Generally, it’s their low costs, low fees, and good exchange rates that are more impressive than their savings rates, but when aggregated together, many neobanks do work better as a savings rate (particularly if it’s one that has lots of activity). When depositing a large amount of money for a short space of time, some cash-rich high street banks may offer an advantage here, if you don’t mind the signing up process and reading the small print. So, whilst it may seem counterintuitive to claim that rising interest rates will cause people to flock to neobanks, it may be the case simply because more people are looking for alternatives right now due to the changing market. Currently, business accounts dominate the use of neobanks in the UK, but this trend is set to . shift slightly back towards savings accounts The US market size of neobanks is set to explode to over $45 billion, with payments and money transfers being the key driver. Still, if customers can achieve great exchange rates with fast transfer on a slick app and a competitive savings rate - even if it’s not the best on the market - then this creates a compelling reason to endure their very fast signing-up process.

Are Rising Interest Rates Going to Propel Neobanks? 

¿El aumento de las tasas de interés impulsará a los neobancos?

La hausse des taux d'intérêt va-t-elle propulser les néobanques ?

क्या बढ़ती ब्याज दरें नियोबैंक को बढ़ावा देने वाली हैं?

金利の上昇はネオバンクを推進するつもりですか?

O aumento das taxas de juros vai impulsionar os neobancos?

Lãi suất tăng có thúc đẩy Neobanks không?

利率上升会推动新银行吗？

Back in 2016, such services as Apple Pay and Samsung Pay were just entering the global market as newfangled inventions, while today, they are used to processing three times more transactions than those made using conventional plastic bank cards. Mobile apps have since largely replaced bank office branches, and the coronavirus pandemic has only accelerated the trend. Taking into account the rapid pace of development of the fintech sector and speed at which modern users adapt to innovations, our experience of interacting with financial institutions is likely to undergo radical changes over the next few years. Historically, financial institutions were a necessity bred from the need to solve three basic tasks – to preserve and multiply savings, move volumes of funds, and access credit facilities. The need for these services will persist well into the future, but it will evolve. The reason behind such evolution is not just the dwindling number of people resorting to banking services year-on-year, but the emergence of radical new financial technologies associated with the introduction of cryptocurrencies, blockchain networks, and decentralized finance, which are capable of dealing with the same issues that banks were initially founded for. Oftentimes, the new technologies are capable of handling financial tasks even more effectively than their traditional brick-and-mortar counterparts. As an illustration of the trend, 76% of Americans have used mobile apps to complete banking tasks last year, according to a recent by Ipsos-Forbes. study How will Banks Change? The foundation of a new generation of banking services is being laid by both the clients and the banks themselves. The need for increased client convenience will force banks to integrate financial services into routine operations. The banks, in turn, will strive to minimize the costs associated with attracting new clients, and that will result in the shrinkage of costly office branch networks and the transition of most transactions online. Physical client absence at offices will be compensated by advanced mobile applications and direct communication with bank employees. As inevitable changes are afoot, banks are pinning their hopes on the complete digitalization of their business model. The goal is to customize banking products to suit individual client needs and increase targeting. For instance, online banks will be able to offer tailored lending facilities and insurance to clients looking to buy new vehicles. But for such a scenario to be implemented successfully, banks will need considerable volumes of information about their clients. Therefore, as the international consulting company Accenture highlighted in its research, a growing number of banks are starting to create “digital twins” for their clients using big data and artificial intelligence. “By weaving together data from different sources, banks are able to create living models of product lifecycles, customer journeys, operational processes, market scenarios and more,” as the authors stated in the report. Banking Technology Vision 2021 Banks are already offering clients an ever-broadening range of functions for the purpose of collecting data. For example, some offer restaurant table bookings, theatre or cinema ticket purchases, air tickets sales, and even doctor appointments through mobile banking applications. The continued transformation of the banking sector entails three potential development vectors. The first is operations processing – a function performed by today’s internet providers. However, it is possible that the state may take over the given infrastructure component (or a monopolizing entity controlled by the state), which will find it easier to interact with citizens. The second vector wades through the expansion of the functions of banks to cater to the growing daily needs of their clients. In this case, banks will have to compete with tech giants and online retailers that have already successfully garnered more client trust than banks ever have. KPMG even introduced a special definition for this trend – – implying that an increasing volume of financial transactions is carried out independently by smart devices on behalf of their users. For instance, smart refrigerators can buy groceries by themselves, cars pay for gas at gas stations, TVs buy subscriptions to paid channels, etc. invisible banking The third vector of bank transformation foresees its evolution into an advisory and recommendation agent that reaches beyond the financial element. Such an advisory role will allow banks to oversee all transactions, purchases and user activity like health, fitness, nutrition, movement and even career progression. The advisor will be able to draw up customized client budgets, make bargain purchases, offer discounts, provide advice on financial wellbeing, and even give suggestions on how to save money or spend leisure time with greater impressions. At the same time, banks are unlikely to be able to completely abandon the brick-and-mortar model in the next twenty to thirty years before completely transitioning to online applications. For example, the indigenous people of the Amazon do not want to use or do not use banking applications at all, while in parts of Asia and Africa, where banking services had previously been inaccessible, people are already using applications on a broad scale and have never even been inside a bank office. The given reality speaks volumes about the heterogeneity facing the development vectors of financial technologies. Payments In The Future New technologies will inevitably simplify the process of making settlements. In the not-so-distant future, the desire to carry out a transaction will be the only prerequisite for action – the biometrics will do the rest. Plastic bank cards will be phased out in the next 5 to 7 years, losing the battle to biometrics. A total of over 93% of the participants of a survey conducted by MasterCard in cooperation with Oxford University back in 2015 stated that they preferred to use their biometric data to confirm payments on the internet, rather than enter passwords. The main reason for the popularity of the new technology is the increasing risk of money theft due to the snowballing number of cases of personal data leaks around the world. According to estimates of from 2019, the majority of consumers (56%) stated that they trust biometric authentication methods more than traditional PIN codes. The share of biometric method proponents has been growing at a steady pace since then. Global Security Mag However, the spread of biometric technologies raises serious concerns among a significant part of the population. The fears are associated with the tightening of state control over the private lives of citizens. In their opinion, the more appropriate vector for the development of the financial sector is its decentralization based on the use of cryptocurrencies. Bitcoin is already considered an alternative to gold for value preservation. But cryptocurrencies are not limited to Bitcoin alone, as there are dozens of other digital assets that are used for daily settlements, cross-border transfers, investing, trading, and lending. A new financial system has emerged on the global stage thanks to the advent of blockchain technologies that operate independently of central banks and governments. However, as more states seek to either prohibit cryptocurrencies, or restrict their circulation by placing them under strict control, it is likely that a symbiosis of traditional payments and cryptocurrencies will emerge at some point in the future. Still, some applications available on the market already allow users to operate with both cryptocurrencies and fiat. A new generation of banks such as MinePlex is creating a wide range of digital assets services that can be used as alternatives to traditional banking products. The bank, or rather a neo crypto bank, offers its users convenient operations with cryptocurrencies and fiat through a single holistic application by combining the stability and liquidity of traditional financial instruments with the security and transparency of blockchain technologies. With the MinePlex Wallet, users will be able to manage their digital assets, make transfers, store, buy and spend any type of currency. By replicating the successful solutions that allow fiat and cryptocurrencies to be used in conjunction, many digital asset wallets are integrating functionality for fiat-based transactions through the support of bank cards. This combination allows users to safely buy and sell cryptocurrencies. The DARQ Quartet The growing pressure from the fintech industry and cryptocurrencies is forcing banks to focus on the implementation of post-digital era technologies, or the so-called DARQ quartet, which includes distributed ledgers technologies, artificial intelligence, augmented reality, and quantum computing, according to the Accenture Banking Technology Vision 2019 study. In the next 20 years, access to advanced artificial intelligence will become the determining factor in market dominance for both states and companies, including banks. Augmented reality will provide users with extended access to a broader range of information about the world. It will also become the ideal solution for visualizing expenses and predicting savings. According to a study by American Avaya, almost half of all millennials are interested in using real-time cost analysis tools. The future of financial applications is dawning as financial institutions are working on the transformation of the banking system and the use of advanced technologies.

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