control issuesi was deeply struck by the primitiveness of risk analysis, fraud monitoring, and aml systems that are widely used in the banking and payment sector. mainly we are talking about a system that applies simple manually defined rules with manually assigned weights. such a poor set of tools pushes banks to simplify the client profile they are willing to work with as much as possible. in other words - someone who lives nearby, works at a local company, and has no other income. any devi...

holistic viewIt is fair to say that historically, worldwide payments were based on technology and centralized regulation. The more technology has improved, the more regulation were required to address the additional complexity of the payment industry and protect companies' and people's interests. The payment industry was based on gold or paper cash. The good old cash was rather decentralized operationally - it was issued by the central bank, but people were capable of making buying ...