Rationality is a set of concepts and behaviors that are logically coherent, consistent, and scientifically analyzed through observations. Rationalization is a process that apply rationality to various entities and their activities. Max Weber used the term “rationalization” to replace societal traditions, values, and emotions as motivators with rationality and reasoning…

Open banking is a system and a process that opens traditional banking interfaces to third-party financial and non-financial service providers. In a sense, open banking transforms traditional banking into a banking as a cloud using open application programming interfaces (APIs). This article provides a comprehensive introduction to open banking. There…

When we think of banking we think of money. What is money? People of my age think of money as something you carry in your wallet such as green dollar bills, credit card, debit card, etc. We buy and sell things using money. Often the money is put in a…

Cyber-security and cyber-resilience are two areas that are at the forefront of many enterprise clients. Unfortunately, if you ask many of them what is their strategy to deal with the two areas, they struggle. Often cyber-security team and cyber-resilience team are sitting far apart. …

Andrew Ng has fueled the engine of Artificial Intelligence (AI) for more than 15 years. In a recent interview he talked about Data-Centric AI (DCAI) that is the next big step in the field of AI. He also co-organized a workshop at NeurIPS 2021 which focused on bringing key players…

Financial data are sensitive and regulation-conscious data in most countries. Companies that own, manage, process, and control such financial data are scared to put them on public cloud. The concern is legitimate since the attack surface of a public cloud is much larger than any private cloud or data centers…

The traditional finance products and services are created and managed based on centralized finance system(s) controlled by big players with deep financial pockets and political influences. Some of the largest private and governmental financial institutions interact with each other through highly controlled financial channels to send and receive information that…

Here is yet another buzzword: Data Fabric. Albert Einstein said that all objects in the universe sit in a smooth fabric called the space-time fabric. These objects create curvature just as a ball on a cloth. Heavier objects create larger curvature and smaller objects create a smaller curvature. The smaller…

Imagine you are given a big ball of some material and your job is to reduce the diameter of the ball of material. There are many ways to do this. You can pound the material, you can grind the material, you can blast the material, etc. Micronization is a process…