Who Scams The Scammers? Meet the Scambaiters

Police struggle to catch online fraudsters, often operating from overseas, but now a new breed of amateurs are taking matters into their own hands.

Three to four days a week, for one or two hours at a time, Rosie Okumura, 35, telephones thieves and messes with their minds. For the past two years, the LA-based voice actor has run a sort of reverse call centre, deliberately ringing the people most of us hang up on – scammers who pose as tax agencies or tech-support companies or inform you that you’ve recently been in a car accident you somehow don’t recall. When Okumura gets a scammer on the line, she will pretend to be an old lady, or a six-year-old girl, or do an uncanny impression of Apple’s virtual assistant Siri.

Once, she successfully fooled a fake customer service representative into believing that she was Britney Spears. “I waste their time,” she explains, “and now they’re not stealing from someone’s grandma.” Okumura is a “scambaiter” – a type of vigilante who disrupts, exposes or even scams the world’s scammers. While scambaiting has a troubled 20-year online history, with early forum users employing extreme, often racist, humiliation tactics, a new breed of scambaiters are taking over TikTok and YouTube. Okumura has more than 1.5 million followers across both video platforms, where she likes to keep things “funny and light”.

In April, the then junior health minister Lord Bethell tweeted about a “massive sudden increase” in spam calls, while a month earlier the consumer group Which? found that phone and text fraud was up 83% during the pandemic. In May, Ofcom warned that scammers are increasingly able to “spoof” legitimate telephone numbers, meaning they can make it look as though they really are calling from your bank. In this environment, scambaiters seem like superheroes – but is the story that simple? What motivates people like Okumura? How helpful is their vigilantism? And has a scambaiter ever made a scammer have a change of heart?

Batman became Batman to avenge the death of his parents; Okumura became a scambaiter after her mum was scammed out of $500. In her 60s and living alone, her mother saw a strange pop-up on her computer one day in 2019. It was emblazoned with the Windows logo and said she had a virus; there was also a number to call to get the virus removed. “And so she called and they told her, ‘You’ve got this virus, why don’t we connect to your computer and have a look.” Okumura’s mother granted the scammer remote access to her computer, meaning they could see all of her files. She paid them $500 to “remove the virus” and they also stole personal details, including her social security number.

Thankfully, the bank was able to stop the money leaving her mother’s account, but Okumura wanted more than just a refund. She asked her mum to give her the number she’d called and called it herself, spending an hour and 45 minutes wasting the scammer’s time. “My computer’s giving me the worst vibes,” she began in Kim Kardashian’s voice. “Are you in front of your computer right now?” asked the scammer. “Yeah, well it’s in front of me, is that… that’s like the same thing?” Okumura put the video on YouTube and since then has made over 200 more videos, through which she earns regular advertising revenue (she also takes sponsorships directly from companies).

“A lot of it is entertainment – it’s funny, it’s fun to do, it makes people happy,” she says when asked why she scambaits. “But I also get a few emails a day saying, ‘Oh, thank you so much, if it weren’t for that video, I would’ve lost $1,500.’” Okumura isn’t naive – she knows she can’t stop people scamming, but she hopes to stop people falling for scams. “I think just educating people and preventing it from happening in the first place is easier than trying to get all the scammers put in jail.”

She has a point – in October 2020, the UK’s national fraud hotline, run by City of London Police-affiliated Action Fraud, was labelled “not fit for purpose” after a report by Birmingham City University. An earlier undercover investigation by the Times found that as few as one in 50 fraud reports leads to a suspect being caught, with Action Fraud frequently abandoning cases. Throughout the pandemic, there has been a proliferation of text-based scams asking people to pay delivery fees for nonexistent parcels – one victim lost £80,000 after filling in their details to pay for the “delivery”. (To report a spam text, forward it to 7726.)

Asked whether vigilante scambaiters help or hinder the fight against fraud, an Action Fraud spokesperson skirted the issue. “It is important people who are approached by fraudsters use the correct reporting channels to assist police and other law enforcement agencies with gathering vital intelligence,” they said via email. “Word of mouth can be very helpful in terms of protecting people from fraud, so we would always encourage you to tell your friends and family about any scams you know to be circulating.”

Indeed, some scambaiters do report scammers to the police as part of their operation. Jim Browning is the alias of a Northern Irish YouTuber with nearly 3.5 million subscribers who has been posting scambaiting videos for the past seven years. Browning regularly gets access to scammers’ computers and has even managed to hack into the CCTV footage of call centres in order to identify individuals. He then passes this information to the “relevant authorities” including the police, money-processing firms and internet service providers.

“I wouldn’t call myself a vigilante, but I do enough to say, ‘This is who is running the scam,’ and I pass it on to the right authorities.” He adds that there have only been two instances where he’s seen a scammer get arrested. Earlier this year, he worked with BBC’s Panorama to investigate an Indian call centre – as a result, the centre was raided by local police and the owner was taken into custody.

Browning says becoming a YouTuber was “accidental”. He originally started uploading his footage so he could send links to the authorities as evidence, but then viewers came flooding in. “Unfortunately, YouTube tends to attract a younger audience and the people I’d really love to see looking at videos would be older folks,” he says. As only 10% of Browning’s audience are over 60, he collaborates with the American Association of Retired People to raise awareness of scams in its official magazine. “I deliberately work with them so I can get the message a little bit further afield.”

Still, that doesn’t mean Browning isn’t an entertainer. In his most popular upload, with 40m views, he calmly calls scammers by their real names. “You’ve gone very quiet for some strange reason,” Browning says in the middle of a call, “Are you going to report this to Archit?” The spooked scammer hangs up. One comment on the video – with more than 1,800 likes – describes getting “literal chills”.

But while YouTube’s biggest and most boisterous stars earn millions, Browning regularly finds his videos demonetised by the platform – YouTube’s guidelines are broad, with one clause reading “content that may upset, disgust or shock viewers may not be suitable for advertising”. As such, Browning still also has a full-time job.

YouTube isn’t alone in expressing reservations about scambaiting. Jack Whittaker is a PhD candidate in criminology at the University of Surrey who recently wrote a paper on scambaiting. He explains that many scambaiters are looking for community, others are disgruntled at police inaction, while some are simply bored. He is troubled by the “humiliation tactics” employed by some scambaiters, as well as the underlying “eye for an eye” mentality.

“I’m someone who quite firmly believes that we should live in a system where there’s a rule of law,” Whittaker says. For scambaiting to have credibility, he believes baiters must move past unethical and illegal actions, such as hacking into a scammer’s computer and deleting all their files (one YouTube video entitled “Scammer Rages When I Delete His Files!” has more than 14m views). Whittaker is also troubled by racism in the community, as an overcrowded job market has led to a rise in scam call centres in India. Browning says he has to remove racist comments under his videos.

“I think scambaiters have all the right skills to do some real good in the world. However, they’re directionless,” Whittaker says. “I think there has to be some soul- searching in terms of how we can better utilise volunteers within the policing system as a whole.”

At least one former scambaiter agrees with Whittaker. Edward is an American software engineer who engaged in an infamous bait on the world’s largest scambaiting forum in the early 2000s. Together with some online friends, Edward managed to convince a scammer named Omar that he had been offered a lucrative job. Omar paid for a 600-mile flight to Lagos only to end up stranded.

“He was calling us because he had no money. He had no idea how to get back home. He was crying,” Edward explains. “And I mean, I don’t know if I believe him or not, but that was the one where I was like, ‘Ah, maybe I’m taking things a little too far.’” Edward stopped scambaiting after that – he’d taken it up when stationed in a remote location while in the military. He describes spending four or five hours a day scambaiting: it was a “part-time job” that gave him “a sense of community and friendship”.

“I mean, there’s a reason I asked to remain anonymous, right?” Edward says when asked about his actions now. “I’m kind of embarrassed for myself. There’s a moment where it’s like, ‘Oh, was I being the bad guy?’” Now, Edward doesn’t approve of vigilantism and says the onus is on tech platforms to root out scams.

Yet while the public continue to feel powerless in the face of increasingly sophisticated scams (this summer, Browning himself fell for an email scam which resulted in his YouTube channel being temporarily deleted), But scambaiting likely isn’t going anywhere. Cassandra Raposo, 23, from Ontario began scambaiting during the first lockdown in 2020. Since then, one of her TikTok videos has been viewed 1.5m times. She has told scammers her name is Nancy Drew, given them the address of a police station when asked for her personal details, and repeatedly played dumb to frustrate them.

“I believe the police and tech companies need to do more to prevent and stop these scams, but I understand it’s difficult,” says Raposo, who argues that the authorities and scambaiters should work together. She hopes her videos will encourage young people to talk to their grandparents about the tactics scammers employ and, like Browning, has received grateful emails from potential victims who’ve avoided scams thanks to her content. “My videos are making a small but important difference out there,” she says. “As long as they call me, I’ll keep answering.”

For Okumura, education and prevention remain key, but she’s also had a hand in helping a scammer change heart. “I’ve become friends with a student in school. He stopped scamming and explained why he got into it. The country he lives in doesn’t have a lot of jobs, that’s the norm out there.” The scammer told Okumura he was under the impression that, “Americans are all rich and stupid and selfish,” and that stealing from them ultimately didn’t impact their lives. (Browning is more sceptical – while remotely accessing scammers’ computers, he’s seen many of them browsing for the latest iPhone online.)

“At the end of the day, some people are just desperate,” Okumura says. “Some of them really are jerks and don’t care… and that’s why I keep things funny and light. The worst thing I’ve done is waste their time.”

By:

Source: Who scams the scammers? Meet the scambaiters | Cybercrime | The Guardian

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ISBN9780190452568. Fisher, Bonnie S.; Lab, Steven (2010). Encyclopedia of Victimology and Crime Prevention. Thousand Oaks, CA: SAGE Publications. p. 493.

ISBN9781412960472. “FBI 2017 Internet Crime Report” (PDF). FBI.gov. Federal Bureau of Investigation. May 7, 2018. Retrieved 28 August 2018.

“The Economic Impact of Cybercrime— No Slowing Down” (PDF). McAfee. 2018. Retrieved October 24, 2018. Goel, Rajeev K. (2020).

“Uncharitable Acts in Charity: Socioeconomic Drivers of Charity-Related Fraud”. Social Science Quarterly. 101 (4): 1397–1412. doi:10.1111/ssqu.12794. ISSN1540-6237. Burke, Cathy.

“L.I. charity chief convicted of embezzling nearly $1 million meant for disabled”. nydailynews.com. Retrieved 2021-04-22.

“Charitable Contributions: For use in preparing 2016 Returns” (PDF). “Scam Watch – Nigerian Scams”. Scam Watch – Australian Government. 12 May 2016. Jamie Doward (2008-03-09).

“How boom in rogue ticket websites fleeces Britons”. The Observer. London. Retrieved 9 March 2008.

“USOC and IOC file lawsuit against fraudulent ticket seller”. Sports City. Retrieved 1 August 2008. Jacquelin Magnay (4 August 2008).

“Ticket swindle leaves trail of losers”. The Sydney Morning Herald. Kelly Burke (6 August 2008). “British fraud ran Beijing ticket scam”. The Sydney Morning Herald. Francis, Ryan (2017-05-11).

“What not to get Mom for Mother’s Day”. CSO from IDG. Retrieved 2017-11-28. Hew, Khe Foon (March 2011). “Students’ and teachers’ use of Facebook”. Computers in Human Behavior. 27 (2): 662–676. doi:10.1016/j.chb.2010.11.020. Kugler, Logan (27 October 2014). “Keeping online reviews honest”. Communications of the ACM. 57 (11): 20–23. doi:10.1145/2667111. S2CID11898299. Wilson, Brian (Mar 2017). “Using Social Media to Fight Fraud”. Risk Management. New York. 64 (2): 10–11.

ProQuest1881388527. “Woman loses £320,000 in ‘romance fraud’ scam”. BBC News. Retrieved 20 October 2020. Tom Zeller Jr (April 26, 2005).

“A Common Currency for Online Fraud: Forgers of U.S. Postal Money Orders Grow”. New York Times.

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“CyberCops.com – Counterfeit Postal Money Orders”. http://www.cybercops.com. Retrieved 23 May 2017.

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Scan QR Code Menus With a Side of Caution, Say Privacy Experts

Restaurant patrons who’ve grown accustomed during the pandemic to whipping out their phones to access menus using QR codes should understand the implications for their personal data, say privacy and cyber-security experts.

That’s especially important given some restaurant owners are finding electronic menus efficient and cost effective, and that they may hold onto the practice even after COVID-19 is more contained.

It’s not the QR code itself that collects customer data, said Dustin Moores, a privacy lawyer with nNovation LLP in Ottawa.

“What the QR code does is it sort of acts as a web link to a web page. So when you scan a QR code on your phone, in all likelihood it is going to send you to either the restaurant’s website, or to the website of a service provider that’s being used by the restaurant,” he told Cost of Living producer Jennifer Keene.

“What’s happening is we’re replacing a very sort of innocuous object, a restaurant menu, with a website that comes with all the sort of tracking technologies that you see in modern e-commerce today.”

A marketing device

Bringing up an online menu on your phone doesn’t mean you’re handing data such as your birth date and banking details to bad actors on the internet.

The more immediate implication is that it gives your local pub, or the platform they use, new knowledge of your behaviours and preferences that it can use to better sell to you.

“If you’re a returning customer to to one of these restaurants that use the QR code technology, they might be able to say, ‘Hey, we know that Jennifer ordered the Caesar salad last time; let’s put it at the top of our menu this time because we know that she likes it,'” said Moores.

The restaurant could also use the information it has gathered to upsell customers, such as suggesting the customer add chicken to that salad, he said. Ot it could try to influence your choices by offering a discount on the dish you enjoyed last time.

Moore said it’s also likely that the QR code will take you to a website that uses third-party cookies that can be used to track your web browsing habits. “Let’s say it was a Hungarian restaurant that you visited. Well then other Hungarian restaurants in the area might start advertising to you all of a sudden,” he said.

An issue of consent

Moore said his biggest legal concern about the spike in use of QR code-enabled menus is consent.

“I think what might get lost on a lot of restaurant owners is that, like every other business in Canada, they’re subject to our privacy laws,” he said. “Whenever a business collects, uses or shares personal information in the course of commercial activities, they need to have people’s consent to do that.”

Cyber-security expert Yuan Stevens, policy lead for technology, cyber-security and democracy at Ryerson University’s Leadership Lab, said the security concerns related to QR codes remain “fairly hypothetical.”

“I have not yet found any cases in Canada of QR codes being used for stealing data or violating your privacy,” she said. “But I also think it is useful to keep in mind what concerns we should be aware of as technology becomes ubiquitous.”

Someone who wants to direct you to a malicious website could “fast track” that process using a QR code, said Stevens. “Phishing and scams are already happening. And QR codes would just be another conduit to that.”

She said some restaurants are using QR codes to gather contact tracing information as well as for menus.

With the drive to reduce contact with surfaces and each other, QR codes have increased in popularity during the pandemic, said Stevens, particularly in China, where their use increased six per cent between 2019 and 2020.

Stevens notes that last month a benevolent hacking group already alerted the public that it had been able to hack the Quebec government’s new vaccine passport system, which led to 300,000 QR codes being exposed. The developer resolved the issue within 24 hours, but it’s good to be aware that there are privacy and security tradeoffs that come with using technology, she said.

QR-code enabled vaccination verification systems are now in place in Manitoba and New Brunswick, and will be in Ontario as of Oct. 22.

Jenny Burthwright, owner of Jane Bond BBQ in Calgary, said her business introduced QR code menus in the fall of 2020 when they’d been “ripping through” paper menus while trying to keep COVID-safe.She plans to keep the higher-tech system in place post-pandemic.

“There’s a very obvious cost savings to it,” she said. “With the rising costs of everything, we considered that, and also environmentally just wanted to move away from that paper.

Restaurants are also finding it easier and faster to update an online menu than a printed one, said Olivier Bourbeau, a vice-president of Restaurants Canada, the industry association representing food-service employers.

Being able to quickly add or remove a menu item, or update the price of the dish, is particularly useful given the complexities of running a food-service business during this crisis, including rising food costs and supply-chain problems that delay delivery of ingredients.

Those advantages will likely mean many restaurants will keep the QR-code system in place, Bourbeau said.

Protective measures

To mediate the risks associated with leaving a digital trail every time you order a brisket sandwich or a poke bowl, there are some precautions consumers can take, according to cyber-security expert Stevens.

The same principles that you’d apply to avoiding phishing and other online scams generally also apply to using QR codes, she said.

“Be careful of offers that seem too good to be true. Don’t give sensitive information over email or phone to untrusted sources. Be careful what you click on.”

Treat a QR code with the same care as an email attachment, and keep your eyes peeled for printed QR codes that look like they’ve been duplicated — one stuck on top of another, said Stevens.

It’s worth taking the time to check with your host or server to make sure the QR code you’re about to use is legit, she said.

“You want to be really careful that the QR code you’re scanning is actually the restaurant’s, otherwise you could be misled. And that’s when you’d be scammed.

By Brandie Weikle. Produced by Jennifer Keene.

Source: Scan QR-code menus with a side of caution, say privacy experts | CBC Radio

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These Are The Top Tech Startups Attracting Talent in 2021, According to LinkedIn

LinkedIn has identified the startups that are attracting top talent this year, even amid some of the largest employee turnover in history.

On Wednesday, the Sunnyvale, California-based networking platform released its fifth annual list of 50 U.S. companies on the rise. The list tracks growth in employee count, interest from people looking for jobs, and how people interact with the online presence of the company and its employees. It also measures the startups’ ability to bring in employees from LinkedIn’s Top Companies list, which includes more established businesses like Amazon and Alphabet.

All startups on the list are less than seven years old, headquartered in the U.S., and have at least 50 employees. LinkedIn used data from July 1, 2020 to June 30, 2021. The ranking features some of the year’s breakout companies, like Clubhouse, and others that flourished in the pandemic, like Discord. Several of them have succeeded through their use of emerging technologies such as artificial intelligence and robotics. Here are six of the most innovative from LinkedIn’s list.

Gong

Coming in at No. 2 on LinkedIn’s list, Gong uses artificial intelligence to analyze all of a company’s interactions with customers — calls, meetings, and emails — to improve their sales and marketing. The San Francisco-based company boasts clients including LinkedIn and Pinterest and was a 2021 Inc. 5000 honoree, ranking No. 99 with over $37 million in 2020 revenue.

Outreach

The Seattle-based sales management platform, an Inc. Best Workplaces company in 2021, uses machine learning to optimize customer communications, from social media to text to email. It ranked No. 9 on LinkedIn’s list and counts customers including Zoom and Adobe.

ScaleAI

ScaleAI helps clients process data faster via what it calls scaled artificial intelligence. The goal is to manage the swath of data that A.I. can generate, founder Alexandr Wang told Inc. The San Francisco-based company’s products can track visual data for AR companies or autonomous driving and provide complex models and results displays. Ranked No. 29 on LinkedIn’s list, the startup has a $7 billion valuation.

Neuralink

Elon Musk co-founded this startup, and its mission, predictably, is futuristic: It’s developing technology to connect the human brain to devices that can translate thoughts into speech or text, which could have wide applications for people who are paralyzed, for example. Neuralink is based in Fremont, California and ranked No. 33 on LinkedIn’s list. Its eventual goal is to merge mankind with computers, Musk said in 2017.

Nuro

Nuro sells self-driving cars, but not ones meant to ferry humans around. Nuro cars just deliver goods — and are programmed to avoid loss of life. The Mountain View, California-based startup, which became a unicorn in 2019, now delivers for the likes of Walmart, FedEx, and CVS Pharmacy. Nuro says it is the first self-driving, driverless car to get permission to operate from the National Highway Traffic Safety Administration (NHTSA). The number of cars is still limited, but they are now available in San Jose, California; Houston; Silicon Valley; and Phoenix.

Relativity Space

Relativity Space builds rockets. In the future, it hopes to establish a society on Mars. The Long Beach, California-based company produces a 3-D printed, reusable rocket called Terran 1, using robotics and artificial intelligence for its development. Mark Cuban was an early investor, as was Y Combinator. LinkedIn ranked the company No. 45 on its list.

By Gabrielle Bienasz, Editorial assistant, Inc.@gbienasz

Source: These Are the Top Tech Startups Attracting Talent in 2021, According to LinkedIn | Inc.com

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4 Missteps For Banks To Avoid When Migrating Payment Services To The Cloud

Banks and financial services providers can realize the efficiency and cost savings of cloud-based payments by taking proactive steps to guard against these common mistakes, notes Rustin Carpenter, a Global Payments Solution Leader for Cognizant’s Banking & Financial Services Industry Services Group.

The cloud’s lure of simplification is a powerful incentive for payment providers, as its role enabling modernization and permanently switching off legacy applications. Where banks struggle, however, is in shaping a strategy to get their payment services to the cloud. By understanding the common missteps, banks can create a plan for payment migration that maximizes benefits while minimizing risks.

The pandemic was a digital tipping point for banks, forcing them to implement in just a few months capabilities that otherwise would have taken several years. Research published in 2019 found that financial services firms lagged in adoption of public cloud infrastructure as a service (IaaS), with just 18% broadly implementing IaaS for production applications, compared to 25% of businesses overall.

Now many banking leaders we talk with are taking a serious look at cloud-based payment services, motivated by the age and complexity of their core payment applications as well as their business’s growing confidence in the security of cloud platforms such as Google Cloud, Microsoft Azure and Amazon Web Services (AWS). As banks contemplate migrating payment services to the cloud, here are some common mistakes to avoid that will ensure a smoother journey:

1. Assuming the cloud is cheaper.

Cloud-based services are indeed less expensive to run — once applications and services have been migrated. To manage a successful payments migration, be aware of the costs along the journey. The cloud can be a heavy lift. While banks and financial services providers often consider themselves proficient at consolidation and rationalization, the extensiveness required for cloud migration frequently far exceeds the effort of previous initiatives. For example, we helped a bank reduce its infrastructure footprint by 25% and lower its total cost of ownership by migrating its applications to the cloud.

That outcome, however, required careful analysis of the bank’s application source code and development of a migration strategy and cloud deployment architecture, as well as assessing and migrating more than 800 applications over three years. Cloud-based services are more streamlined and less expensive to operate, but accurately budgeting for the upfront time and resources of a cloud payment migration is challenging due to the many unknowns. Careful attention to planning is critical for a realistic cost assessment.

2. Underestimating the amount of prework.

The cloud promises to reduce complexity but getting to that point takes a thoughtful migration plan that’s complete and doesn’t skimp on details. What steps will be taken to ensure there’s no disruption to clients? Which applications make sense to retain and manage in-house, and which can be leveraged as payments as a service? For instance, fund disbursements for a retail consumer bank that administers 529 plans are typically a low-volume service for which cloud automation is a great fit, replacing paper checks with significantly less costly cloud-based payments.

But when it comes to payments as a service, managing risk and ensuring value also come into play. Wire transfers might appear to be good candidates for migration to cloud payments, but if most of the bank’s transfers are for high net worth individuals with equally high customer lifetime value, then the transfers may require levels of personalized service best handled with an on-premise platform rather than in the cloud. A well thought out strategy that addresses all impacts and value opportunities helps bank leaders avoid the unintended consequences that keep them awake at night.

3. Failure to prioritize.

A payments migration needs to be phased in a way that provides strategic competitive advantage. Setting priorities is key. For example, a bank may choose to align its payments migration with a specific strategy, such as a planned de-emphasis on branch offices. Another approach is to migrate the costliest payment applications first. Some banks may reserve cloud adoption for when they’re ready to add new payments capabilities.

Each bank’s path to cloud payments is nuanced, yet there’s often a feeling among banking leaders that moving to the cloud is an all-or-nothing proposition. That is, payments are either entirely cloud-based or all on premise. A more realistic goal is to craft a migration roadmap for a hybrid environment that accommodates both types of infrastructure for the near future, and to then prioritize and phase the payments migration in a way that makes strategic sense.

4. Testing in a dissimilar environment.

Replicating legacy operating environments for testing is expensive, so it’s not uncommon for banks to settle on environments that are similar but not identical — though the variation often leads to production environment errors that can derail cloud migration efforts. Performance falls short of expectations, typically due to the tangle of payment applications resulting from years of mergers and acquisitions.

For example, post-merger banking platforms often utilize more than one legacy payment hub, and there’s little chance that a bank’s current IT staff fully understands or can predict the unintended consequences for the hubs when making changes to the platform. Don’t fret over creating the perfect testing environment. Rather, build an environment that’s as close as possible.

By avoiding these common missteps, payment providers can reap the benefits of a simplified, modern infrastructure and application environment and minimize the risks.

To learn more, please visit the digital payments section of our website or contact us.

Rustin “Rusty” Carpenter leads payments solutions within Cognizant’s Banking & Financial Services’ Commercial Industry Solutions Group (ISG). In this role, he works with group leaders and client-facing teams to elevate Cognizant’s client relevance, industry expertise and challenge-solving capabilities. Over his career, he has developed deep and broad expertise in payments and the emerging alternative and digital/mobile payments arenas. He is a frequent speaker on these topics at conferences worldwide and serves as a board advisor to fin-techs in all areas of payments and fraud prevention/mitigation.

Carpenter most recently was Head of Sales & Service, NA for ABCorp. Previously, he ran the Instant Issuance business for North America at Entrust Datacard; served as COO for Certegy Check Services, N.A.; was General Manager, NA for American Express Corporate Services; and completed multiple assignments at Andersen Worldwide and Dun & Bradstreet. Rustin has a Bachelor of Arts degree from Denison University and an MBA in finance from Rutgers Graduate School of Management. He can be reached at Rustin.Carpenter@cognizant.com

Source: 4 Missteps For Banks To Avoid When Migrating Payment Services To The Cloud

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Has Digital Killed Traditional Advertising and Media

Digital technology has changed our world. It has altered how we access news, entertainment and information, our work patterns, and our communication channels. How we buy and sell.

So, as digital advertising and media continue to grow, have their traditional forms become redundant?…Let’s talk…

Simon Cheng, Marketing Director, Menulog

“No, I don’t think digital has killed traditional advertising. They are not mutually exclusive concepts. Digital complements traditional, as each plays their own role. Traditional will always be important for mass reach objectives and brand building. While, digital is great for performance and driving incremental brand growth through more targeted reach.

“At Menulog, we are a technology business however we invest a lot in traditional channels – TV, outdoor and radio – because they are still some of the most effective avenues for capturing the attention of mass audiences. Equally, we also invest heavily in performance media, using search and social to convert demand. After all, there’s no point investing in creating demand if you are not then capturing it or driving engagement.

“As the world of media continues to become more fragmented, advertising and communication channels need to reflect how consumers want to consume content. Marketers shouldn’t over complicate things. It’s the right message, right place, right time. The channels that fit naturally against your objectives, are those to go with.

Andrew Cornale, Co-Founder and Technical Director, UnDigital

“Digital marketing is certainly more readily accessible than traditional advertising and I would argue that it has overtaken traditional marketing in many senses, but has digital killed traditional advertising? No.

“Traditional advertising still has its place. We see successful campaigns using traditional advertising all the time. However, I’d argue that its high price point and specialised skill set makes it less accessible to the everyday business. For many businesses, digital advertising is more affordable, scalable and targeted. Plus, it’s easier to map ROI against a digital campaign where sales can be mapped directly to it.

“To me, digital marketing is a smarter strategy because decisions are backed by data with less guesswork and, generally speaking, there are just more opportunities to find customers online. If one day, we do see the death of traditional advertising, I’d say digital marketing certainly had a hand in it, but it’s not necessarily holding the murder weapon.”

Yasinta Widjojo, Senior Marketing Manager, Pin Payments

“There’s no doubt that marketing and advertising have changed dramatically in the last 10 years, alongside the advancements of technology and the internet.

“While traditional advertising relied on methods such as TV ads, billboards and print journalism, digital advertising has superseded these methods with algorithms that enable marketers to find and sell to their key audiences. Technology has opened the door to endless possibilities, when it comes to advertising, but with changes come challenges.

“Consumers are battling against a barrage of online noise, through their email inboxes, social media accounts and websites. No platform is left unturned, making creating genuine authenticity with your customers much harder.

“Interestingly enough, the feeling of digital numbness that has come alongside the pandemic, has led some customers back to traditional advertising. The pandemic has seen a rise in guerrilla advertising that harnesses both the digital and physical world, using billboards, posters or graffiti that can be scanned by a smartphone.

“As society adjusts to using their smartphones for COVID-19 check-ins or QR codes, modern marketing which amalgamates both old and new advertising methods, is being embraced. Traditional advertising isn’t dead, it’s had a system upgrade with the help of digital.”

Adam Boote, Director of Digital and Growth, Localsearch

“Changing consumer behaviours in a tech-savvy society have significantly impacted the way advertising is created and consumed. Millennials and Gen Zs are far more influenced by digital media – 49% of TikTok users purchase a product or service after seeing it on the app, and 60% of Millennials admit their purchasing decisions are influenced by what they see on Facebook.

“We’re now seeing a big wave of consumers, including small businesses, turn to digital after weighing up not only print, but broadcast advertising. Although free-to-air TV viewership is increasing with more people at home, its key objective is generating brand awareness – so you may or may not receive immediate action from viewers. Online, you can target audiences with far greater demographic accuracy, targeting the people most relevant to you and guiding them through to where you want them to go.

“For SMBs who don’t have thousands to spend on TV ads, nailing your SEO and digital presence is far more cost-effective.

“However you decide to integrate digital with traditional, when consumers do remember your business and need your product or service, you want them to be able to go online and find you. Fast and easy.”

Cary Lockwood, chief executive officer, Loyalty Now

“Traditional media and advertising still have parts to play in the cultural zeitgeist, but the real question is: are they as effective in engaging audiences as their digital counterparts?

“Traditional advertising operates by conveying a broad message to a broad audience. However, in today’s hyperlocalised economy, consumers want their individual voices heard by merchants who offer solutions tailored to their unique interests and behaviours.

“This growing customer expectation, coupled with a need for business transparency, is one of the reasons experts anticipate some digital advertising methods to become obsolete soon. This is particularly evident in the current phase-out of third-party cookies ahead of 2022.

“Instead of investing in broader advertising avenues, businesses must embrace targeted partnerships with platforms that boast highly engaged audiences, and that also let merchants leverage hyperpersonalisation to better engage their consumers. This will lead to more committed return customers whose buying power outweighs surface-level interactions with disengaged buyers.”

Simon McDonald, Regional Vice President Optimizely

“Digital platforms have revolutionised advertising. Traditional mediums lock advertising into one-way communication, whereas digital platforms provide two-way interactive capabilities. Businesses can now customise advertising to personalise any brand experience and utilise real-time metrics to monitor their campaign’s success.

“Digital advertising is constantly evolving, and so is consumer behaviour. Organisations need to embed a culture of test and learn across all of their digital strategies, allowing businesses to quickly respond and evolve with the industry and consumer trends. While traditional advertising is still around, it is always best as part of a larger digital multichannel marketing campaign that can evolve and respond to consumer behaviour.”

Nicole Schulz, Brand Reputation Practice Lead, Sefiani Communications Group

“In a time of increasing misinformation and disinformation online, traditional media has played a vital role in delivering timely, factual and credible information to Australians. The Digital News Report 2021 found that in Australia, trust in news has risen to 43%. As Australians turned to public broadcasters for critical news over the past 18 months, trust in traditional news brands has remained high. In contrast, 64% of Australians are concerned about false and misleading information online. Roy Morgan research found that TV is regarded as the most trusted source of news, nominated by nearly 7 million Australians.

“However, the same research also found that the internet is now Australia’s main source of news. There is no doubt that Australian audiences at large are continuing to shift away from traditional towards digital platforms for news but the credibility and trust attached to traditional new publishers remains paramount. To thrive in the future, traditional media will need to continue to evolve its multi-channel offering to suit and serve diverse and segmented audiences.”

Clare Loewenthal

 

By: Clare Loewenthal

Source: Let’s Talk: Has digital killed traditional advertising and media? – Dynamic Business

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Related Contents:

 

How Low-Code Creates Agility In a Turbulent Business Environment

The pandemic taught us that change is real. It taught us that sometimes a business has to change in order to survive. Sometimes the customers demand change. Sometimes not just revenue, but human health depends on being able to change fast enough. And if you can’t change, you are going to let your customers down. You’ll let your employees down.

These are the reflections of Matt Calkins, co-founder and CEO of Appian, a low-code automation platform that has for almost 20 years helped companies undergo digital transformations. Calkins believes that while many companies have been talking about digital transformation for a decade, the COVID-19 pandemic demonstrated that talk is not enough; using technology to create agility in an organization is now a business imperative.

He admits that his industry is responsible for much of the confusion around terms like digital transformation, visual transformation, hyper automation, low-code, and digital automation. “Those terms basically mean the same thing,” he explains. “They refer to using technology to allow a business to change faster because the world is changing faster, and the business has to keep up.”

Low-code gives you the fastest possible way to build and run a new application. It allows a business to specify a new pattern of behaviour by drawing a flow chart instead of writing lines of code.

“When you make a new application, the thing that slows you down the most is you’ve got to write the code, debug it, test it, and change it,” he explains. “Low-code allows companies to create processes by dragging and dropping, by drawing a picture, a logical flow chart. And this is much more intuitive and mirrors the way humans think about processes and procedures and applications. It’s a very human way to communicate.”

Because low-code is highly flexible and allows you to build and modify unique software for a unique situation, companies using it responded quickly when the pandemic hit.

“They were able to change their processes and the way they work with their customers. They were able to coordinate their employees better and deal with the dispersion of people and assets,” Calkins says.

The pandemic made coordination at a distance across separation a vital skill. Companies had to rally their teams and resources, create new workflows, and delegate decision making to the right person. Businesses that had already embarked on a digital transformation journey were better placed to do this than those that hadn’t.

“Big businesses are very slow to move sometimes,” Calkins says. “A small business sometimes doesn’t even need a procedure. They can just delegate it to a person. But a big organization that needs to do something a hundred thousand times can’t delegate that to a person. They absolutely need a system. The bigger an organization gets, the more scale it requires. And the more scale, the more you must systematize. And so, your agility, your ability to change as a big organization is absolutely a function of software. Software has locked us into patterns because it’s a formula and hard to alter.”

So, are there any barriers for companies considering using low-code?   “In the last few years, they have become exceptionally low,” he explains. “It’s now much, much easier to start a new project in low-code than it ever has been. At this point, products are free to use on the internet. Training is probably free. Thousands of people have certifications around the world. The total cost of ownership has come down, and it’s now very affordable. For these reasons, Forrester says that 75 per cent of organizations will be using low code by the end of 2021.”

Calkins says that because low-code empowers people to communicate with computers in a very human way, it delights them.

“It empowers two [groups of] people specifically. It empowers developers because studies show they can develop 10 to 20 times as much on a low-code platform than if they weren’t using one. It also empowers users because it allows them to participate as members of a dispersed team with great cohesion. It allows them to be connected to key data at the moment of decision, which they wouldn’t otherwise have been. It’s also super empowering as a user because we’re coordinating the assets across the dispersed enterprise so that you can make the decisions at the moment you need to make them.”

How does the Appian platform operate?

“We see our industry is comprised of three core functions. The first one is to discover your processes: to learn what’s actually going on inside your business, so you can figure out what you want to build software around. The second part is to design a new process, and the third is to automate that process to execute it. You have to do the work by delegating it to people, artificial intelligence, robotic process automation, or even business rules.

“Our platform allows you to discover, design and automate your new process. And so that’s what digital transformation or, we like to say, low-code is all about. And by bringing these three things together, we’ve also made this industry far more accessible than it was recently.”

Recent research conducted by Appian, in conjunction with the Economist Intelligence Unit, reveals that 89 per cent of Australian executives believe their organisation encountered operational difficulties in addressing the challenges posed by the pandemic, and 41 per cent described them as significant.

Calkins says that the study focused on the obligations of the modern CIO and the expectations on them. It revealed that 83 per cent of respondents said that their current applications weren’t good enough. They needed them to be more agile, scalable, and flexible to deal with future challenges. But IT departments are also experiencing a serious backlog, so they need to clear the backlog and create better applications.

“The survey says there’s a lot of pressure on the CIO, but I also say there’s a spotlight, there’s an opportunity, and there is respect for the IT function like there’s never been.”

Beyond COVID-19

Calkins predicts that our world will continue to change at high speed. And businesses will have to respond by meeting the needs of all their constituencies: customers, regulators, employees, and even the new boss whose plan disrupts existing patterns. He says the next challenge businesses will face is adopting a hybrid work model.

“It’s going to be different,” he says. We’re going to have customers demanding different services from different places, through different media, and workers working from different places in different modes. We’re entering a new world.

“Businesses are always looking for an edge, and once they find one, they stick with it. They’re going to use agility as their differentiator. So, if you thought it was scary a few years ago to be a slow business, it’s going to be scarier next year because now we’ve emboldened a set of competitors who are all gaining on you because they are fast. And so, everybody’s got to raise their game.”

Clare Loewenthal

By: Clare Loewenthal

Source: How low-code creates agility in a turbulent business environment – Dynamic Business

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Westerman, G; Bonnet, D; McAfee, A (2014). Leading Digital: Turning technology into business transformation. Harvard Business Press.

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“Strategy, not Technology, Drives Digital Transformation”. http://www.mit.edu. 2015-07-14. Retrieved 2016-01-18.

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Rifkin, Jeremy (1995). The End of Work: The Decline of the Global Labor Force and the Dawn of the Post-Market Era. Putnam Publishing Group. pp. 66, 75. ISBN 978-0-87477-779-6.

Lyshevski, S.E. Electromechanical Systems and Devices 1st Edition. CRC Press, 2008. ISBN 1420069721.

Lamb, Frank. Industrial Automation: Hands On (English Edition). NC, McGraw-Hill Education, 2013. ISBN 978-0071816458

The Changing Nature of Work (Report). The World Bank. 2019.

Dashevsky, Evan (8 November 2017). “How Robots Caused Brexit and the Rise of Donald Trump”. PC Magazine. Archived from the original on 8 November 2017.

Torrance, Jack (25 July 2017). “Robots for Trump: Did automation swing the US election?”. Management Today.

Harris, John (29 December 2016). “The lesson of Trump and Brexit: a society too complex for its people risks everything | John Harris”. The Guardian. ISSN 0261-3077.

Darrell West (18 April 2018). “Will robots and AI take your job? The economic and political consequences of automation”. Brookings Institution.

Clare Byrne (7 December 2016). People are lost’: Voters in France’s ‘Trumplands’ look to far right”. The Local.fr.

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Bennett, Stuart (1992). A history of control engineering, 1930–1955. IET. p. 48. ISBN 978-0-86341-299-8.

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Guarnieri, M. (2010). “The Roots of Automation Before Mechatronics”. IEEE Ind. Electron. M. 4 (2): 42–43. doi:10.1109/MIE.2010.936772. S2CID 24885437.

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Otto Mayr (1970). The Origins of Feedback Control, MIT Press.

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Artificial Intelligence and Robotics and Their Impact on the Workplace.

To Reimagine The Student Experience, Think Like A Tech Company

With these five mindset shifts, higher-ed institutions can immerse digital learning into their strategies and operations, reveals Tij Nerurkar, Business Leader for Cognizant’s Education practice.

The news that online learning platform 2U is acquiring edX, a nonprofit platform run by Harvard and MIT, is yet another sign of the momentum of digital learning.

Among the deal’s synergies is 2U’s access to edX’s global learner base of 39 million registered users and 120 million annual website visitors. This increases 2U’s reach and stands to lower student acquisition costs, which typically account for as much as 20% of online program managers’ revenues.

Often overlooked amid the headlines, however, is the reality that technology is only part of the change that digital learning is inflicting on higher education. Equally important is the change in mindset among colleges and universities as they shape the direct-to-consumer (DTC) learning experiences that will engage today’s students.

How to make the higher-ed shift

To reimagine the college experience and make the transition to digital learning, higher-education leaders need to think like a tech company would. The following mindset shifts will propel them forward to immersing digital learning into their strategies and operations:

  • Out with the old culture, in with the new.

This change is among the toughest for colleges and universities to execute. Many university leaders we talk with focus exclusively on the technology that the DTC model requires. But the reality is that DTC is an outside-in approach that puts the student experience first, ahead of any administrative and departmental priorities. It brings changes that ripple across campuses, especially the institutional mindset.

Thriving in today’s higher-education environment requires all campus functions — from recruitment and admissions to financial aid and academics — to move quickly and in seamless, connected ways. Reimagining the student experience will require organizational changes that break down siloes and emphasize collaboration.

  • Be willing to take risks.

While bold moves don’t come naturally to higher-ed institutions, they can be an important differentiator. For example, when the pandemic halted college entrance exams, a nonprofit testing organization used the hiatus to overhaul the paper-based exams that millions of students took annually at its 7,000 centers. Our team built a new-generation platform that digitized the entire testing workflow, including online and mobile apps designed to appeal to Gen Z learners accustomed to multitasking and virtually interacting with their peers. As higher ed begins to emerge from the pandemic, the company is ready with a business model fit for today’s students.

  • View the CIO’s role as strategic.

In our recent research, higher-ed leaders said they believe industry disruption will only accelerate; however, we see too many higher-ed institutions that still limit their CIOs to overseeing back-office operations. A talented CIO can help institutions think out of the box by spotting new business models and investment opportunities to drive enrollments and revenue.

For example, Arizona State University’s widely admired CIO helped ASU break ahead early in online learning with innovative programs like its Global Freshman Academy. By providing CIOs with a seat at the table, higher-ed institutions and their governing boards open themselves to emerging ideas such as adopting blockchain for digital credentials or applying mixed-reality simulations to learning.

  • Reassess your marketing strategies.

Glossy direct-mail brochures are a common and costly rite of passage. The median public university spends 14% of its marketing and recruiting budget on student lists purchased to identify prospects, with one public university’s student data costs topping $2 million from 2010 to 2018. Building predictive analytics capabilities can help organizations reach targeted student populations more intelligently and fill seats more effectively than the basic demographics of lists.

For example, St. Mary’s College credits predictive analytics with increasing its applicant pool. When data showed that prospective students who visited the Maryland campus were more likely to enroll, St. Mary’s doubled down on personalized campus tours that deliver a more on-brand experience. Investing in data modernization, automation and robust platforms requires greater capital investments upfront, but it also creates better and long-lasting pull as universities seek to attract lifelong learners.

  • It takes a platform.

The single biggest lesson to learn from educational technology players is the ability to respond to market conditions with agility, and platforms are at the heart of that flexibility. Ed-tech companies are able to pivot quickly and scale their business models in new directions.

For instance, 2U built momentum and scale by positioning itself not just as a provider of online degree classes for individual students but also as a provider of cloud-based software as-a-service (SaaS) platforms to colleges and universities. The strategy elevates 2U from a services-only business model to the SaaS model.

Now colleges and universities are beginning to take steps in the same direction: Last fall, ASU launched the University Design Institute, through which it scales the innovative approaches and solutions it has developed for its own campus to help other universities create online offerings and is even partnering on community-based projects such as supply chain improvements in Ghana and across Africa. Thinking like a tech company means investing in the right platforms and building the ability to scale.

Capitalize on higher-ed strengths

The most successful tech companies also know and relentlessly develop their strengths, which is why you don’t see Apple rolling out a social network or Netflix designing smartphones. It’s no secret that education’s disruptors offer curriculum options that are fast, dirt-cheap and job-ready. Coursera estimates students can complete a Google Professional Certificates program by studying five to 10 hours per week for eight months or less.

Ed-tech clearly knows its market strengths. At the same time, two-thirds of students between the ages of 19 and 30 still think a college degree is a good investment, whether in-person or virtually. Higher ed’s brand value remains strong in the wake of COVID-19: In another survey, 93% of students polled — both enrolled in fully online programs and studying remotely due to COVID-19 — expect a positive return on their online education investment.

The scalability enabled through digital can help colleges and universities press their pedagogic advantages and compete with online competitors’ lean operations. For example, at a time when applications to full-time MBA programs have declined, enrollment in the University of Illinois’ online MBA program has reached 4,000 — up from 114 since the program’s 2016 launch.

The key to capitalizing on the momentum of digital learning is to reimagine a student experience that taps into today’s youth by reshaping your institution’s mindset and approach to education.

Download our latest research report “The Work Ahead in Higher Ed: Repaving the Road for the Employees of Tomorrow.”

Kshitij (Tij) Nerurkar is the North America leader for Education Business at Cognizant. For over 25 years, Tij has advised and implemented digital learning solutions across private and public sector clients on a global basis. In his current role, he helps educational institutions and ed-tech companies develop and implement digital strategies to transform their business model, reimagine learner experience and drive skill enablement. Previously, Tij was the Head of Cognizant Academy in North America. In this role, he was responsible for developing industry partnerships for the Academy and worked as a core member of the talent team to help bridge the reskilling gap through innovative synergistic business models. Tij has a bachelor’s degree in mechanical engineering and a master’s degree in management studies from the University of Bombay, India, and he has completed a sales and leadership program at Harvard University. Tij is also on the executive learning council of the Association for Talent Development (ATD). He can be reached at Kshitij.Nerurkar@cognizant.com

Source: To Reimagine The Student Experience, Think Like A Tech Company

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Related Contents:

Teaching with Digital Technologies

Digital Learning: Data, Trends, and Strategies You Need to Know

Digital Transformation 101: The Only Guide You’ll Ever Need

The case for digital reinvention

The Company Cultures That Help (or Hinder) Digital Transformation

La Transformación digital desde la arquitectura empresarial

The impact of digital transformation on the retailing value chain

E-commerce to Account for Half the Growth in Global Retail by 2025

Evolution Is not enough: Revolutionizing Current Learning Environments to Smart Learning Environments

ECE Technology: 10 Trending Tools for Teachers

Confusing terminologies: #e-learning, learning technologist, educational technologist

Zero to six: Electronic media in the lives of infants, toddlers, and preschoolers

Technology in the Preschool Classroom

Technology Education for High-Ability Students

An efficient, portable authoring language for microcomputers

Computer-based Mathematics and Physics for Gifted Remote Students

Computer-based Education Research Laboratory

History of Manhattan Virtual Classroom

 

Colour Psychology: How To Use Colour To Boost Your Mood

It’s easy to feel down when it’s dark and cold outside but there are lots of ways you can bring colour into your life. Here, an expert explains how to use colour psychology to help boost your mood.

Colours can also help us express and understand emotions, making them a powerful communication tool. This is a discovery people have made on TikTok recently. Creators have been taking to the platform to explain the meaning of each colour and how it can help them understand themselves and the people around them better, with the tag #colourpsychology reaching over 4 million views.

As we head into the autumn and winter months and the nights get darker, many people will find this negatively impacts their mood. But although the skies might not be blue, there are plenty of ways you can bring more colour into your life and use it to help improve your mindset.

In fact, you can even use colour as a self-help method. Karen Haller, a behavioural colour psychologist, has spent years researching this and has found an array of methods to help you do so. Although it’s not necessarily as simple as TikTok would have you think.

“Colour psychology is a study of how we can use colour to positively influence how we think, feel and behave,” Karen says. “It’s one of the most underestimated resources we have to change how we act.”

“When you decide whether or not you like a colour, that’s an emotional experience,” Karen says. “It makes you feel something, even if you’re not consciously aware of it.”

Building a personal relationship with colour psychology is an ongoing process but there are a few things you can do to start to use colour to positively influence your life, and maybe even help you deal with issues like self-doubt and social anxiety.

What is the meaning behind each colour?

Karen explains that each colour has a traditional psychological meaning. However this can vary depending on the shade of the colour, so it’s not necessarily important to learn them all. It can be useful to understand what the primary colours represent, though.

“Each colour has positive and adverse effects,” Karen says, explaining that both of these things need to be taken into account when you’re thinking about how to use these colours to your benefit.

Red

“Red is a very physical colour. Red physically stimulates us – it encourages motivation and energy,” Karen explains. “Because of this, however, red can also cause overwhelm, as it represents speed, and it can sometimes make you feel like you are moving too quickly.”

Yellow

“Yellow has a direct effect on the nervous system. Yellow is an optimistic colour that encourages positivity,” Karen says. “However, the adverse effects are that yellow can be quite irritating and anxiety-inducing.”

Blue

“Blue is the colour that aligns with the mind. Dark blue is mentally stimulating and it can help with focus; soft blue is a colour that allows your mind to dream,” Karen explains. “Often, blue can keep the mind overly-stimulated, which is something to look out for as an adverse effect.”

How to figure out which colours work for you

Although there are traditional meanings that can be assigned to each colour, as people do on TikTok, Karen explains that colours are actually very personal, and the colours that help you feel better will be different to the colours that help a friend or family member feel good.

Karen recommends going through your wardrobe and pulling out clothes in an array of colours and then holding each of them up to your face, in order to figure out what your relationship is with each colour. “Without any make-up on, stand in front of a mirror and hold the different colours up to your face,” Karen says. “Take note of what happens to your face – does it light up or does it create shadows?”

If you know one colour suits your complexion, you can use this to compare to the other colours. This method isn’t only about your appearance, however. Consider how your facial expressions and other reactions differ with each colour, as this will help you to understand how you connect with different colours.

How to establish an emotional connection with colour

You’re constantly coming into contact with different colours in your day-to-day life and it’s not possible to consciously understand your reaction to every single one of them. But in order to become more in touch with your relationship with colours, Karen recommends keeping a diary for a period of a week to take note of how you respond to any colours that stand out to you or that you have to make decisions about.

“Write down what you are wearing each day and how the colours in your outfit make you feel,” she explains. “You should also take note of other decisions about colour you make, like choosing a red glass instead of a yellow glass.”

You don’t have to acknowledge your decisions in this way for very long but by doing so for a short period of time, you’ll come to better understand your relationships with specific colours, which will help you make better colour decisions in the future.

How to incorporate colour psychology into your life moving forward

Once you have established your relationship with particular colours, you can start to incorporate them into your life more, whether that’s through decorating your home with them or buying clothes in that colour. You can then also follow the same process Karen explains above to figure out which colour combinations work for you.

“The most important thing is that you think consciously about the decisions you make about colour,” Karen says, adding that by making intentional decisions, you will become more conscious of which colours you like and dislike, which will help keep you in touch with your emotions.

By:

Source: Colour psychology: how to use colour to boost your mood

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What Is Really Australia’s Quintex Capital Doing To Your Investment or Assets

Quintex Capital Pty’s innovative platforms and tools provide the power and reliability you need to feel more confident in your investment, trading and loan access.

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Quintex Capital Pty trading team consists of highly qualified analyst, analytical experts who by using their experience and latest software, are able to predict the movements in currency exchange & cryptocurrency market with best accuracy. This company is managed by professional crypto currency trading experts with its vision and aim to help those willing to attain financial freedom but lack the technical know-how to achieve.

We have perpetuated our vision to remain at the pinnacle of the crypto world through the opportunity offered to our distinguished clients. Quintex Capital Pty is founded on the principle that cryptocurrencies is changing the fundamental structure of not only our economy and banking systems but also the way we connect and engage as human beings.

The success of traders inspired the creation of Quintex Capital Pty and enter the international trading market to use all the accumulated knowledge and experience on an international scale, Despite the market decline, cryptocurrencies are very volatile, Such volatility allows to constantly earn high profits regardless of whether the cryptocurrency market is falling or growing, A large number of different cryptocurrencies increases our capabilities and gives us prospects for further development and increasing the overall trading volume.

Quintex Capital Pty uses trading bots that monitor the cryptocurrency with the greatest volatility, At the same time, it does not matter whether the price of the cryptocurrency is falling or rising, Traders of Quintex Capital Pty can earn money in any market, The higher is the volatility of cryptocurrencies, the higher is the profit of Quintex Capital Pty.

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As a main worldwide market producer,Quintex Capital Pty is focused on making the most easy to use exchanging speculation experience for every one of our customers while accomplishing greatest benefit. We endeavor to bring the most cutting edge innovation and grow new devices to permit dealers to exchange with certainty and achievement.

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This is not an Initial Coin Offering. We believe that ICO’s should be approached with caution as the majority of “Alt coins” do not offer any benefits to more established crypto currencies such as Bitcoin, Ethereum, etc. Quintex Capital Pty is a managed cryptocurrency trading platform with user friendly interface and attractive offer.

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Source: Quintex Capital Pty Your best crypto investment and trading platform

 

SoftBank Makes First Saudi Deal Together With Wealth Fund’s Unit

SoftBank Group Corp. has made its first investment in a company based in Saudi Arabia, partnering with a unit of the kingdom’s sovereign wealth fund to lead a $125 million financing for customer communication platform Unifonic.

Proceeds will be used to fund growth in the Middle East and expansion into Asia and Africa, Unifonic co-founder and Chief Executive Officer Ahmed Hamdan said in an interview. The company will also look at acquisitions in those regions to help it expand faster, he said.

The Unifonic deal is funded through SoftBank’s Vision Fund 2, and follows on from July’s $415 million fundraising by Dubai-based cloud kitchen startup Kitopi, which was SoftBank’s first in a business based in the United Arab Emirates and took that company’s valuation past $1 billion. Last month, it also co-led a financing round for Turkish e-commerce company Trendyol.

SoftBank’s foray in the Middle East comes with a growing number of so-called unicorn businesses worth at least $1 billion. More investors from outside are looking to bet on a shift to online services that has lagged other regions.

Read more on SoftBank’s deals in Middle East and Africa:

Swvl, a Dubai-based provider of mass transit solutions, said in July it expects to list on Nasdaq in a combination with special-purpose acquisition company Queen’s Gambit Growth Capital, with an implied equity value of about $1.5 billion.

Unifonic provides cloud-based software to send automated messages. As the pandemic spread, businesses turned to these services to send one-time passwords or shipping updates to customers. The company processed 10 billion transactions last year, charging a small fee for every message it sends to customers.

Hamdan declined to comment on the latest valuation, but said the company is forecasting sales for the year of more than $100 million and will start planning a listing on a global exchange in the next three years.

“Being able to attract one of the top international funds to invest in Saudi Arabia is a big milestone that will encourage more foreign direct investment to come into the digital and technology space,” Hamdan said. “We will optimize to list on a global market that can provide the best valuation.”

STV, Sanabil

Founded by Ahmed and his brother Hassan Hamdan in 2006, Unifonic was largely self-funded for the first decade. It raised $21 million in 2018 led by STV, a $500 million venture fund established by Saudi Telecom Co.

Sanabil, a unit of Saudi Arabia’s Public Investment Fund, was also an investor in the company. The PIF, as the wealth fund is known, put $45 billion into the first Vision Fund, which backed many of the largest technology startups including Uber Technologies Inc., Opendoor Technologies Inc. and DoorDash Inc.

“Over the next five years, we see the business growing by 10 times,” Hamdan said. “So we could process 100 billion transactions, impact 400 million people, and potentially be working with 50,000 companies.”

The valuation of Twilio Inc., which operates a similar business and is listed on the New York Stock Exchange, has more than tripled to almost $60 billion since the pandemic forced more transactions to move online.

By:

Source: http://bloomberg.com

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