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How the Best Digital Bank In The World uses hackathons to replace executive training

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Putting digital priorities at the heart of what a traditional bank does is easier said than done. At Singapore’s DBS, actions are speaking louder than the words of its rivals. Many organizations are noticing their strides.

This year, financial services magazine Euromoney is one of those that have recognized DBS, honoring it in. their inaugural pick for best digital bank. The Singapore-based DBS Bank is the best bank in digital, globally for 2016.

DBS did this through transformation that took about 7 years. Part of it was going back to the startup mentality of innovation. They took their leaders into hackathons to mingle with entrepreneurs and learn how to be efficient.

Achieving greater efficiency and customer focus is only part of the transformation battle. The big win is driving better innovation, as it leads to strategic advantage.

Cobban realized that to drive innovation within DBS, he had to change the culture. “We recognized innovation was all about culture and behavior,” he says. “So we took our leaders and put them in ‘hackathons’ with startups. Hackathons replaced the executive training budget.”

Exposing executives to the startup mentality opened their eyes to new ways of doing business – a good start, but Cobban realized he had to spread such thinking across the organization.

Once again, Cobban defied conventional wisdom: “I told our innovation team: don’t innovate,” he says. “Instead, teach the rest of the organization to innovate.”

For African banks, digital offers them the best roadmap to growth. They need to innovate and cut-off millions of wasted customer hours not just in banking halls but around the ecosystems of their businesses.

Intel sees possibilities of cyber-warfare as Obama retaliates against Russia over election hacking

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epa01716659 (FILE) A file photograph showing Russian troops marching in the village of Alabino outside Moscow on 22 April 2008 during the rehearsal of the military parade which will take place on the Red Square on 09 May 2008, devoted to the victory of the Soviet Union over Nazi Germany in the WWII . A plan to replace Soviet-era Russian military uniforms with ones by a leading fashion designer has been abandoned because of a lack of money, media reports on 01 May 2009. The plan to bring in the new uniforms, designed by Valentin Yudashkin, was supported by Russian Prime Minister Vladimir Putin. There is now only enough money to pay for uniforms for soldiers taking part in the forthcoming Victory Day parade. EPA/YURI KOCHETKOV

President is planing to announce his response against Russia for meddling through hacking in the U.S. presidential election. This act is expected to trigger avalanche of many unknowns even as Russia has challenged Obama to go ahead as they promised to respond in kind.

In a statement, Intel Security’s chief technology officer, Steve Grobman, warned about the unintended consequences of any plans to retaliate, including inciting actual war.

“The administration, fellow lawmakers, and general public must understand the potentially catastrophic consequences of a digital cyber conflict escalating into a kinetic, conventional shooting war,” Grobman said. “Impacting digital infrastructure beyond the intended target opens the door to draw additional nation states into a conflict. This increases risk to civilian populations as countries see the need to retaliate or escalate.”

It is expected that U.S. could attack Russia’s internet infrastructure.  If that happens, the chance of full-blown cyber-warfare will happen.

Nevertheless, Grobman urged U.S. officials to tighten security around the nation’s digital election systems. 

“We strongly encourage any effort to expand the definition of the country’s digital infrastructure to include the nation’s election systems,” he said in a statement. “We usually consider critical infrastructure to include life-sustaining services such as water, power, transportation, and first responder communications. But, given that election systems are the foundational organs of democracy, we must protect them accordingly.”

The main reason this car company is going into mobile payment

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The business of transportation is being redesigned. It is all over us with Uber and peers changing what it means to move from one location to another.

It does seem that the business of making cars may not be a profitable one in the far future. So car manufacturers are diversifying.

Volkswagen has bought PayByPhone, a company that lets drivers pay for parking using their mobile phones. Volkswagen says it plans to bundle PayByPhone’s capabilities with other mobile payment services into a separate business built around parking.

Earlier this month, Volkswagen launched a digital business division called Moia that will offer, among other services, an on-demand shuttle for commuters living in urban areas in an aim to expand beyond its traditional focus of making and selling cars.

Just note that when it comes to transportation, no one can predict what will happen next. The sector is experiencing many new transformations beginning with the pioneering Uber business model.

Jyoti And Kiran Matharoo apologize to Femi Otedola; read their histories

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Things happen and Nigeria is puzzling. It seems like he recession has brought a new dimension on the survival strategies for ladies. Mount a big camera, lure big men into your room. Then post photos and pictures of the hell-room on a website. Follow up with the men to buy you out. It looks like Nollywood needs a new movie called  Making Me Rich with Big Men in my Hotel Room.

Two Toronto sisters reportedly embroiled in an international sex scandal have been taken into Nigerian prison custody over cyberbullying and extortion charges. The ladies had apologized to billionaire Femi Otedola.

Jyoti and Kiran Matharoo are facing allegations they’re high-society prostitutes accused of running of a website aimed to extort money from Nigeria’s wealthiest people, according to Nigerian news site Politics Nigeria.

The Matharoo sisters were caught with laptops and iPads containing videos of themselves having sex with men, according to CityNews Toronto.

The two allegedly recorded conversations and sexual trysts with their high-profile clients. It’s claimed they used a third party to blackmail targets to pay thousands of dollars for their privacy, or face release of the material on the sisters’ website.

Jyoti and Kiran have a combined 50,000 followers on their Instagram accounts, both curate snapshots from their lavish and luxurious lifestyles.

They are accused of trying to blackmail Femi Otedola, one of Nigeria’s richest men.

Politics Nigeria said the two immediately confessed to running the blackmail website after their arrest, and admitted to having sex with over 100 wealthy men.

The sisters are believed to be Canadian citizens, and listed a Toronto home address on court documents.

 

This video shows why Tesla will have bigger market cap than Apple in ten years

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Tesla is simply fascinating and will become a bigger company than Apple in 10 years. There is no doubt about that. They have a real engineering marvel that will make that market success possible.

Tesla’s super-sensory autopilot system might be able to predict a collision and react faster than a human driver, a new dash-cam video suggests, using radar technology that allows it to see what we cannot.

The video, first reported by tech site Electrek, shows a highway in the Netherlands stretching before a moving Tesla. Eight seconds in, a rapid beeping sound is followed by a car rear-ending an SUV, which then flips over on impact.

CNBC reports that the company has confirmed that that the sound heard in the video, which was shared on Twitter more than a thousand times, was in fact the vehicle’s Forward Collision Warning.

What do you call anti-predictive collision? That is reality.