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Posts tagged "Digital"
Cyber Polygon 2021: Towards Secure Development of Digital Ecosystems
Cybersecurity is one of the most important topics on the global agenda, boosted by the pandemic. As the global digitalisation is further accelerating, the world is becoming ever more interconnected. Digital ecosystems are being created all around us: countries, corporations and individuals are taking advantage of the rapid spread of the Internet and smart devices. In this context, a single vulnerable link is enough to bring down the entire system, just like the domino effect.
Threatpost
Western Digital Users Face Another RCE
Say hello to one more zero-day and yet more potential remote data death for those who can’t/won’t upgrade their My Cloud storage devices.
Threatpost
Cloud-First Digital Visibility For Modern Threat Intelligence
A cloud-first mindset is needed to optimize the entire threat landscape no matter the location to gain true digital visibility. Once visibility comes into focus, modern threat intelligence can be achi…
Digital wallet spending to skyrocket in the next five years, study suggests
Retail and e-commerce firms set to benefit from demand for digital wallets despite cost concerns for merchants.
Digital payments in India: UPI transactions cross 2-billion mark in Oct
According to NPCI data, UPI has registered 2.07 billion transactions worth Rs 3,86,106 crore in October. This is 15% and 17.3% surge in volume and value respectively from the numbers of September.
The Evolving Role Of The CISO And Rise Of Digital Risk [WATCH On Demand}
View the Nick Savvides, Strategic Business Director, APAC, Forcepoint CSHub APAC Summit on-demand session now.
4 Cyber Risk Management Imperatives To Accelerate Digital Transformation Recover…
Targeted and accelerated digital transformation initiatives can bring back company stature and relevance by adjusting to reduced budgets, shifting resources to diversify revenues and speeding IT moder…
India is the biggest adopter of digital wallet apps
The adoption of fintech applications including digital wallets is booming in the Asia Pacific region, according to a new study by Rapyd, a global Fintech as a Service company.
The survey said digital wallets are particularly taking off for personal transactions, such as personal repayments from family or friends, rebates, and sale of personal goods or services.
Across the seven markets studied, India was found to the biggest adopter of digital wallet apps for both business-to-business (B2B) and P2P transactions, recording the highest usage rates.
Rapyd surveyed 3,500 online consumers in the Asia Pacific region (India, Indonesia, Japan, Malaysia, Singapore, Taiwan, and Thailand) in March and April 2020, found that consumers across the region are rapidly embracing mobile fintech apps, with 77.6% of Indians, 77% of Malaysians, 70% of Indonesians, and 66% of Thai, having used a digital wallet app over the past month.
The survey respondents were identified as household decision-makers aged 18-64 across a full spectrum of income levels and asked questions around banking and payment preferences, behaviours, and concerns.
The survey, which contrasted attitudes between different countries, is a sign of where they are on their digital payments journeys. The report also found that there is no one-size-fits-all approach to global payouts. Every country is unique in its preferences and digital leaders must be prepared to localize their payout experiences to drive beneficiary loyalty and engagement.
The survey, however, threw up some interesting info about India: Indian users who are self-employed and work on a contract basis received payments more via wallets than cash or bank transfers. Around 33.5% of Indians chose this as their preferred option.
India is the only country that picked e-wallets as an option for transferring remittances. The possible reason is that the cost of remittances remain high in India.
Indians value data safety
Most interestingly, India cared more about keeping its data and private information safe than any other Southeast Asian country.
The survey said that 82% of Indians, 75% of Malaysians and Indonesians, and 68% of Singaporeans cited keeping personal information safe as the most important attribute of receiving payments.
The Reserve Bank of India, India's Central bank, would be happy to know of this as it has mandated a mechanism for all companies to store data in India, much to the chagrin of international tech giants and credit card networks.
Their insistence on safety and security reflects the mood of the Indians.
Overall, the study reflects remarkable buoyancy in the finance app industry which has seen staggering growth in global adoption, from 16% in 2015 to 64% in 2019.
Digital transformation drives public cloud spend in Middle East and North Africa
The move by large organisations and small- and mid-sized enterprises to transform their businesses digitally is driving public cloud spend in the Middle East and North Africa (Mena).
Sid Nag, research vice-president at Gartner, said that government initiatives such as Smart Dubai, Smart Abu Dhabi, Bahrain’s Cloud First Policy of 2019 have bolstered cloud adoption among large organisations in the region.
Organisations are also increasingly moving their applications and workloads to the public cloud as concerns around security and governance dissipate further as many global tech companies have opened data centres in the region for data residency regulations.
Big tech companies have shown interest in the UAE to open data centres. Amazon Web Services has a cluster of data centres in Bahrain and the UAE.
Oracle already opened its first data centre in the UAE last year in Abu Dhabi and plans to open one more in Dubai this year, and two in Saudi Arabia this year, one had already opened in Jeddah, while Microsoft opened its data centres in Dubai and Abu Dhabi last year.
Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba Group, has already invested in one data centre in the UAE while SAP opened its data centres in UAE and Saudi Arabia last year.
IBM opened two data centres – one each in Dubai and Abu Dhabi – this year.
Big cloud providers need to have local data centres to cater to governments, financial and banking sectors for data residency regulations.
Necip Ozyucel, Cloud and Enterprise Group Lead at Microsoft UAE, that the cloud adoption was strong in the UAE but the challenge was finance and government industries because of data redundancy and latency was also another challenge for other industries as well.
After the opening of data centres in the UAE, he said there is a strong adoption of cloud services across industries and it has also unlocked all the problems of the governments.
“Governments and financial sectors are moving mission-critical apps onto the cloud and many customers in retail, construction, airlines, and small- and medium-sized companies are migrating,” he said.
Arun Khehar, senior vice-president for East-Central Europe, Middle East, Africa and India at Oracle, said that that the data centre is a huge catalyst for on-premises customers to move to the cloud as they can expand beyond their geographies and it can be done only through the internet and cloud.
“Government sector is not an issue as we have been selling to them three years back. The issue is with the sensitive part of the government such as the department of finance. This happened because of the Abu Dhabi data centre. Data sovereignty is a key issue. HR and payroll are crucial and sensitive in this part of the world,” he said.
Security and privacy issues have been taken care of because of the local data centre, he said and added that the cost of running a cloud is cheaper as there is no infrastructure cost, skills are not needed as Oracle own the skills and upgrades.
- Oracle sees more UAE governments moving to the cloud platform
- Microsoft sees room for growth opportunities for all cloud providers in UAE
- Oracle on track to beat AWS in number of data centres by end of the year
Growth drivers: CRM and ERP
Khehar said that business issues have become critical and digital transformation has become a much bigger issue than where the data is going to reside.
Nag said that the collective economic goal of the region to become more technology- and data-centric has been a cornerstone to this rapid acceptance of both the private and public cloud.
The regional market is expected to increase 21% year on year to $ 3b this year compared to $ 2.5b a year ago and this figure is expected to increase to $ 3.6b in 2021.
Nag said that SMEs in the region are focusing their investments in cloud deployments that will enable faster business analytics and artificial intelligence, both of which are key growth drivers for public cloud in the region.
In the public cloud space, software as a service (SaaS) is expected to account for 53% of the total public cloud service revenue to $ 1.6b this year compared to $ 1.3b a year ago.
“SaaS products are typically sold via subscription, allowing companies to avoid large up-front licensing fees and capital costs. The cost-effectiveness of SaaS is one of the motivations for organisations to increase their spending in the segment,” Nag said.
Customer relationship management (CRM) and enterprise resource planning (ERP) remain the top two segments driving the growth of SaaS and will continue to go up as businesses keep enhancing their customer experience.
Nag said that ERP will accounts for 12% of the overall public cloud service revenue forecast this year and this is because most independent software vendors have converted their ERP applications from on-premises, license-based offerings to cloud-based SaaS offerings.
While business intelligence (BI) applications are currently low in the region, he said that it is the fastest-growing segment among SaaS offerings and on pace to total $ 29 million in 2020, an increase of 37% from 2019.
“BI revenue is expected to achieve 30% growth over the next three years as local businesses leverage BI-based analytics to make smarter decisions and optimize their business operations,” he said.