Smart cities need banks’ data muscle more than governments

first_imgThough governments are vocal smart city champions, some industry pundits say connected cities need the data power of private sectors like banking to evolve.The future of smart cities was explored in a commentary on Payments Source by Hossein Rahnama, CEO of context-aware computing startup Flybits.As Internet of Things (IoT) technology proliferates throughout global cities, there is an accelerating need for smart cities to produce and analyze huge rivers of data. Rahnama says this creates a formidable challenge for local governments who are struggling to handle such large volumes of information and to find ways of paying for the needed technology upgrades.“The very nature of local governments — a collection of loosely connected, heavily siloed departments — should make this a not-so-surprising outcome,” said Rahnama. “The tech required to integrate departments in a way that makes even the most basic features of a smart city possible requires a huge investment of time and capital and a shift in culture.”Despite the efforts of Cisco and IBM to help cities scale up their data crunching capabilities, he suggests that when the full force of the coming data tsunami hits, governments will be overwhelmed.Smart cities can leverage private sector effortHowever, he argues that the banking sector already has the chops to handle the massive data flows expected from emerging smart cities.“It is more likely that private enterprise will transform the cities of the near future, and banks are in a unique position to lead that charge, with payments data leading the way,” he says.“Banks possess the payments and other transaction data that municipalities do not,” adds Rahnama. “That means banks can provide the kind of intelligent services and personalized information consumers yearn to have.”He also anticipates that physical bricks-and-mortar branches have a role to play in the smart city, contrary to the frequent prediction that physical branches will soon vanish.“Instead of closing branches, innovative banks will leverage them as hyperlocal information hubs and community search engines,” he says. “In this new model, local retailers and members will communicate, consult, and recommend services through their local branches as proxies.” Donal Power The Rise and Rise of Mobile Payment Technology Related Posts What it Takes to Build a Highly Secure FinTech …center_img How IoT Will Play an Important Role in Traffic … Tags:#Big Data#Cisco#Flybits#IBM#IoT#Smart Cities#transaction 6 User-Interface Musts for Personal Finance Appslast_img read more

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Groups upset Harper government using them against murdered missing inquiry calls

first_imgAPTN National NewsFaced with calls for a national inquiry to looking into the nearly 1,200 missing or murdered Indigenous women, Prime Minister Stephen Harper and his cabinet point to 40 studies as a reason to leave research behind and turn to action.Now some of those organizations aren’t happy they’re included in the government’s speaking notes.A list of the 40 studies can be found here.APTN’s Annette Francis now with more.last_img

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John Wall Eyes January Return Return To Relevance

John Wall has missed the entire wretched season so far of the Washington Wizards because of a knee injury. Hurt more has been Wall’s professional pride.The 2010 No. 1 pick in the NBA Draft hardly is mentioned among the top point guards in the league anymore, and that eats at him — and inspires him.“If you look at the list of the point guards of the future, I’m not up there,” Wall told YahooSports. “That gives more motivation to me when I get back to show the NBA what I really have to give to the league. They will respect me again. Everybody will see. I won’t do the talking. I will let my game do the talking.”Wall said based on how he has felt recently (no pain after three consecutive up-tempo workouts) that he should return to the lineup in January. He averaged 16.3 points, eight assists and 4.5 rebounds last year in the lockout-shortened season.As a rookie, he was sidelined a dozen games for knee and foot injuries, but was the MVP of the rookie vs. sophomore challenge during NBA all-star weekend. Sill, he told YahooSports that he played through injuries to not let his team down, but playing injured limited his mobility and put himself at further risk.“There is no reason to force myself back and re-injure myself and have another setback where I don’t start next season or I got to miss next season,” Wall said. “I’m just taking my time.“If I play 20 games, I just go out there and play them. I’m not giving up on my team and they’re not giving up on me. They know I’m working hard to try to get back.”Watching from the bench with a stress injury to his left patella in general and his team struggling (league-worse 3-23)  in particular has been learning for Wall, he told YahooSports.“I always love the game, but you respect the game more when you can’t play,” Wall said. “I have never been injured before seriously. I’m watching every point guard that comes in and what they’re doing and how teams are doing against my team and what I can do when I get back.“When I feel like I can run and do everything like I used to, cut, jump like I used to, run fast like I used to (I will return). And I feel like I am getting closer and closer to those steps.” read more

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Pellegrini aiming to do Man City a favour

first_imgManuel Pellegrini wants to end West Ham’s rot against Premier League leaders Liverpool, which would boost the chances of his old club Manchester City in the title race.The Hammers are currently on the run of three consecutive defeats in all competitions and the Chilean manager is focused on ending that poor run.Man City have reduced the gap to within two points of Liverpool after beating Arsenal on Sunday and are aiming to defend their title for the first time in history.“If we win I will be very happy for our club first because we need a good performance against the leaders,” said the Hammers boss ahead of the Monday Night Football clash.“After that, if we can give a hand to Manchester City, it’s not our problem, but of course I am a fan of Manchester City also.”Man City fans will like the sound of this.Manuel Pellegrini has a warning for Liverpool.More here: https://t.co/O5vyk55Xb3 pic.twitter.com/iA1YVSGpDu— BBC Sport (@BBCSport) February 3, 2019However, Pellegrini feels Liverpool have the edge in the race following their domestic Cup exits and equally fancied the chances of Spurs.Tammy Abraham, ChelseaChelsea hat-trick hero Tammy Abraham hopes for more Andrew Smyth – September 14, 2019 Tammy Abraham hopes this season will be his big breakthrough at Chelsea after firing his first hat-trick for the club in Saturday’s 5-2 win at Wolves.“It’s more easy for the team that is involved in just two competitions, compared to the team that is involved in four,” said the Chilean.“Tottenham? You should never think that a team four or five points behind you are not involved in the title. Of course, they are.“City have to play the final of the Carabao Cup which will suspend a game. If they make the semi-final of the FA Cup, they must suspend another game.“They have midweek with the Champions League, so it’s not easy to compete in all the competitions.“I talked about this four years ago. The major problem was that we were involved in all the competitions. We won one League Cup at that moment.“We then went out of the FA Cup in the quarter-final against Wigan. If we’d continued in that FA Cup, I don’t think we would have been able to play all the games. We didn’t have time to do it.”💙 Manuel Pellegrini still has love for Manchester City.😬 He can do them a big favour on Monday when West Ham face Liverpool! pic.twitter.com/u236WEnsQI— Urbanhacks Sports (@UrbanhacksS) February 4, 2019last_img read more

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