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People who frequently travel to various places around the world aren’t necessarily rich; they just know how to save for their trips and cut unnecessary costs. If you can do the same, you will certainly be able to travel wherever you want with minimal cost. Visiting a new place can be so exciting, and you may start spending on unnecessary things.

To avoid that, you will have to stick to your plan, and only do the things that you planned for before traveling. That way, you will be able to cut unnecessary expenses and enjoy the trip as much as you want.

Have a Plan

Once you decide to travel, you will need a good saving plan. The first step in planning is being honest with yourself and matching your trip to your financial situation. That way, you will know if your plan is unrealistic and needs more work. You should know an estimation of your trips' overall cost, so you can understand how much you need to save and identify the expenses that you can cut during your trip.

Book Early

Flight prices change drastically, from one day to the next. Being able to book your flight early gives you the added benefit of finding cheaper fares. Do your research, and look for the right flight for you. Usually, non-direct flights are cheaper than direct ones, so bring a book along for those hours in transit. You’ll be smiling at the cost saved.

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Leaving Your Car Behind

While planning for your trip, you will realize some small costs that end up adding to the total expense, such as taking a taxi from and to the airport. If you’re taking your car to the airport, do your research. There are many airport parking options that you can benefit from. If you’re in Florida, Parking at Fort Lauderdale airport can be more affordable than requesting a ride, and you can be sure your car will be safe while you're traveling.

Opt for Private Accommodations

It is no secret that services like AirBnb have made things a lot easier for the frequent traveler. If you think about it, the cost of staying at a hotel, even with its benefits, might not really be worth it. After all, you’re a tourist, and how much time are you really going to spend in the hotel? More often than not, you’ll be walking around all day, and all you really need is a place to lay your head at night.

Once you set your goals and cut all the unnecessary costs before and while you're traveling, you will be able to travel more than once a year and enjoy the trip. Planning for the trip and knowing how much it’s going to cost is an essential factor when you’re looking to save money. So do the research, and with these nifty tips, you’ll be enjoying your trip to the fullest, even on a budget!

Last year, the United Nations declared that 55% of the global population lives in cities. By 2050, it is predicted to increase to 68%. Population increase is widely recognised as the primary cause of this.

North America and Europe are among the two most urbanised areas in the world. The UK has seen massive growth in terms of urban dwellers, with Liverpool’s population growing by 181% between 2002 and 2015.

How will cities cope with a continuous growth in residents? Smart City planning could provide the solution. Using technology and data, local authorities across the globe are working to create dependable infrastructure for urban areas. And many designers have started to include blockchain in the process.

Below, we list the main reasons why.

Transparency

Blockchain records are unalterable – any transaction details can be viewed with complete transparency. Equally, private accounts are only accessible for cryptographic key holders. Both aspects can benefit any investor – especially one that wants to outsource to a third party.

Take local authorities and governments, for example. In hiring architects and labourers that buy through blockchain, they can see exactly where money goes. And so, it could maximise asset management.

In addition, project leaders will be able to measure costs against plans. With the ability to do this throughout the process, high costs can be avoided immediately. Payment documents could be used to reduce spending in the future, too.

Blockchain’s transparency can simplify the process of city planning – and could make it a great deal smarter.

Infrastructure

The term “Smart City” applies to all aspects of a metropolis, from infrastructure to public services. In regard to the latter, easy access to blockchain advice centres could be immensely helpful for many city residents.

The digital ledger has become popular with several people in the UK. In December 2018, 32 million Britons were reported to own Blockchain wallets. And this amount could very well increase. Some experts even describe this as the answer to all money problems.

City authorities looking to “Smart” plan, therefore, might want to take this statistic into consideration. Cities that supply blockchain help and information sources could make everyday transactions far easier for a lot of citizens.

In turn, this could strengthen the reliability of the city – one of the key principles of Smart City planning.

Property Industry

There are several advantages to living in a smart city. This is largely because it aims to offer straightforward daily services, from public transport to financial transactions.

The London Infrastructure Plan, for example, has been designed to enhance the ecological and economical effects of the capital, as well as its safety. Urban areas that are set for improvement often attract prospective property buyers.

If a local authority seeks to include new homes in its Smart city plan, blockchain records could entice investors. With full details on how living spaces have been built, people may be more inclined to invest.

And higher levels of investment could generate money for local projects and schemes that can benefit the city and its community.

Technology has already transformed how money is exchanged. And thanks to blockchain, it may revolutionise urban life throughout the world. Could this be a smarter way to spend than traditional payment methods? More to the point, will it determine how our living spaces are built?

The research found that 1 in 10 would be “extremely likely” to switch.

28% would be unlikely to switch if bad behaviour was found at their bank, while 24% would be neither likely nor unlikely to switch.

Although half of those surveyed would consider switching because of non-financial misconduct, only 4% of respondents have actually done so.

For customers who would consider switching because of non-financial misconduct, the main barrier to switching is the perceived hassle of doing so. 37% of respondents cite “excessive hassle” as the reason they haven’t already switched. 23% of consumers view all banks as equally bad, and 20% don’t know enough about alternative options to switch.

The main barriers to switching are:

Racial discrimination against employees is seen as the most intolerable example of non-financial misconduct, with 58% saying they would be likely to switch banks if it was going on, and 21% saying they would be “extremely likely”.

When it comes to the gender pay gap, just over one-third (38%) would consider switching bank because of a significant gender pay gap. 9% of women and 5% of men would be “extremely likely” to switch banks because of this. Respondents were also asked if they believed banking was more likely to have a culture of gender inequality than other industries. 36% said that they believed this to be true.

The factors that would make customers most likely to switch banks:

Mike Fotis, founder of Smart Money People, said: “The financial services industry has come under increased scrutiny in recent years for its track record on non-financial misconduct, with the FCA signalling that how firms handle non-financial misconduct is potentially relevant to their assessment of firms. Our survey shows that these issues matter to around half of banking customers.

“We were particularly interested by the barriers to switching. Despite the high profile promotion of the Current Account Switch Service, the hassle factor remains the key reason why customers don’t switch. And while new banks continue to emerge, 20% cite a lack of knowledge about alternative options as the reason why they wouldn’t switch.”

(Source: Smart Money People)

Here Stan Swearingen, CEO of IDEX Biometrics, discusses the potential trends for 2019’s biometrics sector.

Following a number of successful trials using fingerprint sensor technology within smart cards across multiple markets, (including Bulgaria, the US, Mexico, Cyprus, Japan, the Middle East and South Africa) the biometric smart card is reaching its inflection point. Key players within the banking industry, including Visa and Mastercard, are already heavily invested in this new payment technology and anticipate that biometrics will play a key role in the revolution of the payments industry.

With mass market rollout on the horizon, here are five key predictions for the biometric payment industry in 2019.

2019: The year of dual interface

The first half of 2017 reported 937,518 cases of financial fraud, resulting in losses of an astonishing £366.4 million[1], a clear demonstration that the PIN is no longer fit for purpose. Recent research from IDEX Biometrics supports this claim and found that 29% of consumers surveyed felt concerned about the use of PINs to keep their money secure, and as many as 70% believed that contactless payment cards left them exposed to theft and fraud. As consumer concerns continue to grow around the security of payments, so too does the need for a personalised, secure and convenient payment solution.

Enter the biometric dual interface payment card. 2019 will see biometric fingerprint sensors integrated into cards with both a micro-processor and contactless interface, removing the need for PINs. This will provide consumers with the reassurance that their money is safe as any transactions will require their finger print to authenticate it. 2019 will be the year of the dual interface where biometric authentication will be available for both contact and contactless payments!

These advances in technology and those within the payments market have meant that the concept of biometric authenticated payments is no longer a novelty. In fact, according to forecasts by Goode Intelligence, nearly 579 million biometric payment cards will be used globally by 2023[2]. The integration of the biometric sensors in the payment card will be one of the next-generation transformative innovations to breathe new life into the payment industry next year and assist in the fight against payment fraud.

The integration of the biometric sensors in the payment card will be one of the next-generation transformative innovations to breathe new life into the payment industry next year and assist in the fight against payment fraud.

Remote enrolment will be the key to mass market adoption

For mass market deployment of biometric smart payment cards to be possible in 2019, banking infrastructures must look at the implementation of biometric technology and ensure that this method of enrolment is accessible and convenient to all. The elderly or those with physical health limitations may struggle leaving the house to enrol within bank branches and even those who work a 9-5 day can often find making it to the bank within opening hours a challenge.

The latest advancements in remote enrolment of biometric payment cards will mean that enrolment for biometric payment cards can take place in the comfort of your own home. Card users will be able to enrol straight onto the card by simply placing their finger on the sensor (with the aid of a small device that comes with the card) to upload their print to the card’s highly secure EMV chip. There is no need for an external computer, smartphone or internet connection. Once loaded, the fingerprint never leaves the card, thus eliminating multiple attack points.

Biometric payments will bridge the gap to financial inclusion

In 2019 advances in biometric fingerprint authentication will be a vital ingredient when bridging the gap to financial inclusion. Currently, 1.7 billion adults remain unbanked across the globe today[3]. This is for many reasons, from immigration issues, to illiteracy as well as mental health. Those living with dementia are also at risk of losing their financial independence as their short-term memories decline. A fingerprint sensor on the card can take the place of a PIN or even signature, meaning sufferers are able to stay financially independent for longer.

Currently those who lack access to financial services are missing out on the many benefits financial inclusion has to offer. Fingerprint authentication will remove the barriers that face those with literacy challenges, or face difficulty with memory, as card payments will no longer be about what you know, or what you can remember, but who you are.

Currently those who lack access to financial services are missing out on the many benefits financial inclusion has to offer.

Biometric authentication will be a simple, secure and convenient solution eradicating the need for passwords and PINs as a form of authentication. For this to work as a solution to financial inclusion, banking infrastructures and card manufacturers must work together to reach a price point that enables this technology to be available to all.

The possibilities for biometrics are endless…

While biometric authentication technology is already being used with smartphones and passport identification in the UK, 2019 and beyond will see endless possibilities for the use of biometric smart cards into payments and beyond. We can even expect to see biometrics branch into the Government issued identification and IoT enabled devices arenas.

In fact, a whole host of public services is set to benefit from this secure means of authentication. The use of biometric smart cards within the NHS, for example, could see access to sensitive patient records limited only to the patient themselves. Biometric social benefits cards could control how the money is spent and that it is spent by the right person. According to IDEX research, 38% of consumers surveyed would like to see biometric methods of authentication introduced to wider government identification including driving licenses, National Insurance numbers and even passports.

The future of the biometrics – 2019 and beyond!

In 2019, authentication will get even smarter, and further technological advances such as multi-modal or multi-factor authentication will further enhance security within the payments landscape. This refers to technology that combines a variety of different types of biometrics in order to add an additional layer of security, including persistent authentication. For example, instead of having one single authentication, smartphones could continuously scan features to ensure the correct person is using the device.

Whilst the biometric dual interface smart payment card is set to hit the mass market next year – this is just the beginning. The payment card of tomorrow will go beyond just transactions. Biometric smart cards will serve multiple purposes – a payment card, a form of ID for restricted goods and even a loyalty card!

The early days of biometrics where it was felt to be invasive and a privacy concern are long gone. In fact, according to recent research from IDEX, 56% of consumers surveyed state they would trust the use of their fingerprint to authenticate payments more than the traditional PIN. Further to this, 52% would feel more confident if their fingerprint biometric data was stored on their payment card, rather than a bank’s central database.

Consumers are ready for the use of biometric fingerprint methods of authentication for card payments and 66% expect their roll out to authenticate in-store transactions in 2019. We predict that by 2019 biometric smart payment card adoption will go into many millions!

[1] https://www.financialfraudaction.org.uk/news/2017/09/28/latest-industry-data-shows-fall-in-financial-fraud/

[3] https://globalfindex.worldbank.org/

Artificial intelligence is shaping the future of retail. Smart algorithms and data analyses are creating sustainable performance benefits across all levels of the retail supply chain.

With its Omnichannel ePOS Suite, Wirecard AG is the first payment provider to offer a fully integrated solution for self-learning analyses based on payment data in combination with other data sources. The evaluations substantially support e-commerce and high-street retail in implementing the following central growth concepts: increasing customer conversion, reducing customer attrition rates, predicting future consumer behaviour and linking points of sale with e-commerce.

Jörn Leogrande, Executive Vice President Mobile Services at Wirecard: "Using our data evaluations and analyses, merchants can increase their metrics in important performance areas. Our previous experience has shown that sales increases in the double-digit percent range are realistic."

Wirecard's turnkey solution generates insights into customer segmentation and cohort analyses, for instance, to optimise marketing efficiency. This revolves around the concept of a data-supported, real-time view of a retailer's customer behaviour in its entirety and increasing the customer lifetime value - optimal customer retention.

Insights into customer attrition (otherwise known as customer churn) behaviour are another unique selling point of the Omnichannel ePOS Suite. Complex evaluations enable merchants to identify customers who may potentially shop elsewhere. By introducing appropriate marketing measures, the churn rate can be significantly reduced.

Analyses on anomalies, trends and sentiment, peak detection and time series based on country-specific data as well as cohort analyses to assess the efficacy of marketing measures are additional beneficial tools. The Omnichannel ePOS Suite can be used in pre-existing systems without incurring large expenses.

Markus Braun, CEO of Wirecard: "The Omnichannel ePOS Suite is the first step towards large-scale digital transformation in the retail sector. Over the next few years, data analyses using artificial intelligence and machine learning will play an increasingly important role in their business area. Based on our analyses, we are able to reduce risks and increase the chances of success for our partners. This means that all parties involved can gain a significant competitive advantage, which is why the omnichannel ePOS suite marks a decisive step for the future of payments."

(Source: Wirecard)

British entrepreneurs are being offered the chance to develop financial services ideas in one of the top financial regions in the US, with a $100,000 (£77,000) equity-based grant and a package of support for growing businesses.

The initiative aims to bring up to twelve of the most promising emerging financial companies in the world to Ohio and help them boost their growth beyond the start-up stage. Equity-based grants of $100,000 per firm plus coaching, office space, visa support and a strong business network are all being provided through the accelerator Fintech71.

Valentina Isakina, Managing Director for Financial Services and Select HQ Operations at JobsOhio, said: “Ohio looks ahead to the future by investing in technologies of the next generation. Our financial services sector is one of the strongest in the world, and it is always actively seeking innovative ideas and partnerships. Here people are more approachable and doing business is easier, so these innovative companies will have a better chance to blossom into the financial stars of tomorrow. JobsOhio is happy to support this innovative industry effort.

“Getting beyond the start-up phase is always difficult even when entrepreneurs have a great idea and have managed to get their business going, so the financial services industry wants to give them a helping hand by creating Fintech71. By bringing them here to enjoy Ohio’s support and hospitality, they will make contacts that will last a lifetime and benefit everyone.”

Fintech71 is aimed at start-up and scale-up businesses from all over the world which have matured enough to present a well-thought-out concept to test with a corporate partner or a market-ready business model. The application deadline is July 17 via www.fintech71.com.

The accelerator has a not-for-profit model and will negotiate a customised, entrepreneur-friendly equity-based participation in exchange for a grant of US $100,000 and access to the accelerator program for each of the selected companies. The finalists will be invited to the state capital Columbus to receive coaching from leading experts of the industry from mid-September to mid-November, in order to further develop their business ideas.

Additionally, the selected start-ups will get the opportunity to build relationships with the sponsor businesses, which are well established in Ohio and throughout the USA, and to network with mentors, partners, and customers. The selected start-ups will have access to free office space in the city centre of Columbus, with foreign businesses will be supported with their visa application.

Some 270.000 people, nearly the size of NYC’s workforce, work in the financial industry in Ohio, one of the largest in the USA. Ohio is also an innovative and successful hub for a large number of other industries, including automotive, aerospace, mechanical engineering, and chemicals. The state is among the top five US states for Fortune 500 and Fortune 1000 headquarters.

Fintech71, named as a nod to the cross-state highway I-71 connecting Ohio via its three largest cities, is backed by leading enterprises, banks and insurers from Ohio, like KeyBank, Huntington Bank, Grange Insurance, Progressive Insurance and Kroger, the largest food chain in the USA. JPMChase is also supporting the program, leveraging its large technology presence in Ohio. JobsOhio, the innovative non-profit economic development corporation, is supporting Fintech71’s operations along with its industry expertise, state and national contacts.

“Fintech71 and Ohio are ready to compete on a global scale given the alignment of the state, the private sector and its entrepreneurial ecosystem,” added Matt Armstead, the executive director for the accelerator.

(Source: JobsOhio and Fintech71)

The infamous year 2016 is now behind us and we all have a fresh start moving into the new year - one which could perhaps be one of the most unpredictable since the market crash in 2008. Low confidence and an anxious approach to ambition could stunt the growth of startups, so here are my key resolutions that small enterprises should adopt if they want to thrive in 2017.

  1. Smarter marketing, not larger

It’s good business sense to always look after the pennies, but with unknown economic territories ahead of us, it’s important for start-ups to tighten up the side of the business where thousands could be wasted when hundreds could take you further = marketing. Social media and SEO will be the most cost-effective ways to drive brand awareness, so invest in consultants and training sessions to help you cover the basics that will ensure your business is heard in a world full of competitors. What’s most important for you to take note of in these workshops is the efficiency of micro-targeting – put spend purely into targeting where your audience digests content and news. Don’t look to reach large numbers, look to reach relevant numbers.

  1. Inspiration comes from the workplace

It might sound simple, it might sound unimportant - but neither is true. Your working environment plays a huge role on your energy, motivation and inspiration – three characteristics you’ll need in bundles to take a start-up off the ground. Walk into offices up and down the country and they can be flooded with unnecessary paper, overcrowded desks, folders upon folders and general mess. Take action and declutter your office by taking more of your work online – with the rise of cloud-based services such as Google Docs, sharing working documents has never been easier. What’s more, the cloud has been utilised across industries, and some services even allow you to take your accounting spreadsheets and numbers purely within the cloud. This takes me nicely onto…

  1. Re-evaluate your business tools

The beginning of the year is an opportune time to calculate all tools your business subscribes to, and analyse what’s working and what’s not. It could be that you’re paying for three different tools that can all be done by one, this will drive costs way down. For instance, Xero is a tool that allows you to take control of payroll, pay bills, send invoices, creating POs and more – it’s time to research what tools out there will optimise your business.

  1. 2017 will be the year of networking

Business owners will need to keep their finger on the pulse of trends that result from Article 50 being triggered. You can make predictions based on what you’ve read online and how your business has been performing, but to get a deeper understand and grasp on where trends will head, you will need to discuss the industry with your peers. Like Open Data, everyone will benefit from each other’s learnings and can adapt accordingly. SMBs are the backbone of the UK economy, and a united effort to thrive this year will help us prosper as we leave Europe.

  1. Prioritise your employees’ happiness

Hard workers are hard to come by. You’ll remember sitting in your office interviewing countless candidates who simply weren’t right for your company, so use that experience to treasure what you have now. Research what the larger organisations are doing and you’ll see a host of perk packages, health schemes and away days. While this is great and a real morale booster, employees really respond to one-on-one time with their boss. Simply showing your appreciation of their work and reassurance of their career path will give them the confidence to work for you, and the ambition to achieve for you.

  1. Protect yourself against security threats

Hackers and cyberattacks are becoming more sophisticated by the day, and the threat of a data breach is more likely than ever before. It’s vital that businesses of all sizes who use online and financial services ensure they have strong security practices. Using the most up to date virus protection and firewalls is a given, but extra layers of security such as multi-factor authentication (requiring a username and password as well as a piece of information that only the user knows) can help your accounts from being compromised by phishing and malware.

Authored by Gary Turner, UK Managing Director and co-founder of Xero.

(Source: Xero)

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