Retail News CRM

Tag: data

  • Qualcomm support China Unicom’s 5G announcement

    Qualcomm support China Unicom’s 5G announcement

    U.S. based chip designer Qualcomm announced on Monday that it supports the introduction of  China Unicom’s 5G services in the largest smartphone market in the world. Qualcomm’s latest and greatest Snapdragon 855 Mobile Platform and Snapdragon X50 5G modem chip were used on 5G phones from manufacturers like (in alphabetical order) nubia, OnePlus, Oppo, Vivo, Xiaomi and ZTE. Devices from these companies were part of Monday’s event. China Unicom said that it is the first Chinese carrier to announce that it will offer 5G wireless service to consumers in the country.

    Starting tomorrow and running through April 25th, Qualcomm, China Unicom and the aforementioned phone manufacturers plan on showing live demonstrations of 5G at the 2019 China Unicom Partner Conference in Shanghai. These demonstrations will show OTA connections made using China Unicom’s 5G network and devices powered by Qualcomm’s 5G solutions. Consumers in China hope that 5G phones and service will be made available later this year. Those attending the conference will get to see HD video streaming, cloud gaming, web browsing and realtime sharing of data between devices and the cloud all over a 5G network.

    “For the past decades, our technology has been a foundation for the wireless evolution. It takes many years of R&D, specification, prototyping, testing, trials and product development to bring a new generation of mobile technology to China and the world. Like previous generations, 5G is the result of more than a decade of collaborative efforts by Qualcomm Technologies and our ecosystem partners, with the mission of preparing the mobile industry for 5G rollout starting this year. We’re excited for Chinese consumers to experience 5G’s truly transformative wireless experience in 2019.”-,” said Frank Meng, Chairman, Qualcomm China.

    5G data speeds run up to 10 times faster than 4G LTE speeds. The next generation of wireless connectivity is expected to lead to the launch of new services and businesses world wide in the same way that 4G LTE networks gave rise to new businesses. For example, the ride sharing industry was born thanks to the replacement of 3G data with faster 4G LTE service. The creation of this industry helped birth multi-billion dollar companies like Uber and Lyft.

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  • Google Duo’s update saves users from overages and throttled data speeds

    Google Duo’s update saves users from overages and throttled data speeds

    Google Duo is the company’s video chatting app that allows users to stream video, make audio-only calls, and send video and voice messages. The app is available for Android and iOS users. As you might imagine, engaging in a video chat uses plenty of data. So Duo users used to be able to toggle on a feature that would limit the amount of mobile data they consumed while employing Duo.

    An update to the app replaces the Limit Mobile Data toggle with Data Saving Mode, which is turned off by default. The new feature works to lower the consumption of both cellular data and Wi-Fi data when Duo is being used. After all, many wireless carriers and home Wi-Fi providers have data caps. Breaching these caps can result in overages or throttled data speeds, two punishments that no Duo user wants to receive.

    To lower mobile and Wi-Fi data consumption, Google drops the quality of a video chat to a lower resolution. Before you decide whether to use Data Saving Mode on a video chat, a preview will show you what the video chat will look like with the feature disabled (again, the default setting) and what it will look like in the lower resolution used when the feature is enabled. With Data Saving Mode toggled on, you won’t be the only one saving mobile and Wi-Fi data. That’s because the party on the other end of the video chat will also be viewing and sending videos in low resolution, helping to lower his/her mobile and Wi-Fi data usage as well.

    This new feature, found on version 51 of Duo, is being sent out via a server-side update. If you’re an impatient sort, you can find this version of the app offered on the Google Play Store.

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  • Hyperscale operators to boost colocation market

    Hyperscale operators to boost colocation market

    Synergy Research Group (SRG) says hyperscale operators are the fastest growing customer category for colocation providers. For both wholesale and retail colocation, 2018 revenue from hyperscale customers grew much more rapidly than revenues from other service provider customers and from enterprises.

    While the overall colocation market grew by 10% in 2018, revenues from hyperscale operators grew by 24% in the wholesale segment of the market and by 16% in the retail segment. Enterprise spending on wholesale colocation was relatively flat in 2018 compared to 2017, while enterprise spending on retail colocation grew by 7%.

    Synergy’s Q4 and year-end data shows that the total colocation market grew to over $34 billion in 2018.

    Growth was strongest in the APAC region, with China, Hong Kong, Japan and Singapore showing the highest growth rates in the region. Hyperscale operators comprise the world’s major cloud and internet service firms, including the largest operators in IaaS, PaaS, SaaS, search, social networking and e-commerce. The other service provider category includes telcos, non-hyperscale cloud providers and internet service firms, hosting/outsourcing companies and content & digital media service providers. The enterprise category includes all other industry verticals plus government and the public sector.

    “It comes as no surprise that hyperscale operators are providing a boost to colocation providers, as they are on a charge to rapidly extend their worldwide data center footprint and in 2018 ramped up their capex by no less than 43%,” said John Dinsdale, a chief analyst at Synergy Research Group.

    “In order to support this rapid growth they cannot just build their own data centers, so they also need to rely on colocation providers to lease out both large wholesale facilities and capacity at smaller edge locations. Hyperscale operators are becoming an ever-more important source of business for leading colocation companies such as Equinix, Digital Realty, Interxion, CyrusOne, QTS and GDS.”

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  • Some Nokia phones were spotted sending user data to China

    Some Nokia phones were spotted sending user data to China

    HMD Global has managed the Nokia smartphone brand impressively well since it took over in December 2016, but now the Finnish company has found itself in hot water. In a report published earlier today, Norway’s public broadcaster NRK claims to have found proof that certain Nokia smartphone have been transmitting unencrypted user information to China. Allegedly, on-device data such as GPS location, the device serial number, and even the user’s phone number were being transmitted back to a Chinese server.

    The server in question was under the domain “vnet.cn,” which is reportedly managed by state-owned carrier China Telecom. From the look of things, every time the Nokia 7 Plus units were powered on, data would immediately be transferred over to the server. Similarly, simply turning on the display or unlocking the device would trigger the same process.
    Fortunately for consumers, this issue was present only a “single batch” of Nokia 7 Plus units. Presumably, the smartphones were initially intended for the Chinese market but ultimately made it into the hands of European consumers. Moreover, since the issue has been raised, HMD Global has removed the infringing files from the devices.
    We can confirm that no personally identifiable information has been shared with any third party. We have analysed the case at hand and have found that our device activation client meant for another country was mistakenly included in the software package of a single batch of Nokia 7 Plus. Due to this mistake, these devices were erroneously trying to send device activation data to a third party server. However, such data was never processed and no person could have been identified based on this data. This error has already been identified and fixed in February 2019 by switching the client to the right country variant. All affected devices have received this fix and nearly all devices have already installed it.

    Collecting one-time device activation data when the phone is taken first time into use is an industry practice and allows manufacturers to activate phone warranty. HMD Global takes the security and privacy of its consumers seriously.

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  • T-Mobile promises cheap 5G services

    T-Mobile promises cheap 5G services

    T-Mobile has just announced that it’s starting limited home internet pilot, an invitation-only test for in-home internet service on LTE, which is meant to connect up to 50,000 homes by the end of the year, in both rural and underserved markets in the United States.

    The carrier states that due to LTE network and spectrum capacity constraints it can’t expand the pilot to more than 50,000 households, but if T-Mobile’s pending merger with Sprint is approved, it will most certainly cover more than half of US households with 5G service by 2024.

    If you’re interested, then you’ll be happy to know that the T-Mobile Home Internet pilot is offered exclusively in areas the carrier expects to deliver speeds of around 50 Mbps through fixed unlimited wireless service over LTE (no data caps). The cost is $50 per month with AutoPay, and there are no annual service contracts, no hidden fees, and no equipment costs.

    Considering customers pay at least $80 per month for wired in-home broadband service these days, T-Mobile pilot programs seems quite a good deal. Moreover, the carrier claims that if the merger with Sprint is approved, it will be able to cover more than half of US household with 5G broadband service by 2024 possibly at the same price.

    Upgrade from LTE to 5G for free, but the monthly fee could be different

    If you’re eligible and chosen to take part in T-Mobile’s Home Internet pilot, a small router will be shipped to you and you’ll be given simple step-by-step instructions on how to install it. You’ll also have to install a mobile app on your phone to optimize placement of router in the house, but that’s just about all you need to do to access T-Mobile’s LTE speeds.

    The router will be upgraded to provide customers 5G services when they will be available in their region, at no additional costs. However, it’s yet unclear whether or not the monthly price will be increased when that happens.

    It’s not the first time that T-Mobile’s CEO John Legere promises something, but it’s also worth mentioning that he kept his promises most of the time.Two weeks ago, I laid out our plans for home broadband with the New T-Mobile. Now, we’re already hard at work building toward that future. We’re w alking the walk and laying the foundation for a world where we can take the fight to Big Cable on behalf of consumers and offer real choice, competition and savings to Americans nationwide.

    Even if 5G services won’t be as cheap as we want them to be, it’s quite clear that thanks to competition customers will have at least a couple of alternatives that will fit their budget. And when it comes to competition, T-Mobile has been able to undercut its rivals many times in the past.

    T-Mobile’s Home Internet pilot is an admirable initiative

    Although all major US carriers announced plans to roll out 5G networks across the country by the end of the year, none have been willing to share anything about prices. Well, at least T-Mobile says it will offer lower prices if Sprint merger is approved.

    T-Mobile’s initiative is quite admirable considering that almost half of American households have no competitive choice for high-speed in-home broadband with speeds of 100Mbps, and in rural areas, more than three quarters have no high-speed service or only one option at their disposal.

    The Un-carrier won’t just bring better internet speeds to rural and underserved areas, but it will also allow 9.5 million households to cut the cord if the merger with Sprint is approved.

    At the other end, AT&T and Verizon are expected to announce their 5G network pricing as well, as both are preparing to launch home 5G services before bringing them to smartphones. It’s a fight between three giants that will have at least one winner: consumers.

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  • Data-sharing Algorithm launched for Indian rural store owners

    Data-sharing Algorithm launched for Indian rural store owners

    Data platform Next Billion is collaborating with data exchange service Ocean Protocol to pilot a new data-sharing model that gives Indian rural store owners an extra income stream.

    Next Billion, which creates insights to enable companies to expand in high-growth emerging markets, provides free point-of-sale platforms to rural store owners to record real-time inventory and sales data. It is building a data marketplace and piloting a new data sharing model based on Ocean Protocol, the first general platform for borderless data sharing that marries blockchain, data and AI.

    Through the pilot, Indian rural store owners will capture real-time transactions via the POS platform and are incentivised to consistently use this platform to submit verified data. When companies buy their syndicated data, transactions can be traced back to the source via Ocean Protocol, enabling Next Billion to reward these rural store owners with royalties.

    “We believe global companies’ needs for commercial data can unlock sustainable and inclusive business models that empower local data providers to share fair value from their data,” said Next Billion MD Oliver Gilbert. “Ocean Protocol enables Next Billion to monetise data and share it with companies in a safe and secure manner.”

    Despite the lack of digitisation in retail practice in rural Asia, sales are climbing. Driven by the rise of the middle class, the consumption of fast moving consumer goods (FMCG) in rural areas is growing across Asia. From 2009 to 2012, spending by India’s 800+ million rural residents reached $69 billion, some 25 per cent more than their urban counterparts over the same period.

    According to recent estimates, consumption in rural areas is growing at 1.5 times the rate in urban areas. The current $12 billion consumer goods market in rural India is expected to reach $100 billion by 2025.

    FMCG companies are eyeing this new opportunity and have revved up their distribution channels in rural areas.

    This has been reflected by a significant rise in demand for rural market-research data. However, traditional market-research firms lack rural reach, maintain outdated platforms premised on different environments, and their costs remain prohibitively expensive.

    Ocean Protocol is a blockchain-based platform for the safe sharing of data that enables companies and data services to build on top. Its technology allows organisations to put a value on, own and control their data while addressing many frictions around data sharing today – including privacy concerns, trust, and auditability. Ocean also allows algorithms and models to come to the data, get trained and then leave without exposing the data or taking a copy, thereby retaining privacy and freeing up data to advance the economy and society.

    “A lot of data is generated today, yet they are locked up in silos because people are scared of losing control and not getting rewarded. Ocean helps to solve this by giving the tools for people to own and control their data and develop new data-driven business models,” said Ocean Protocol founder Bruce Pon. “Data owners can program the conditions of access which are then executed precisely. In addition, data can be traced back to its source, enabling incentives to be spread across all stakeholders in the data sharing process.”

    “Being incentivised, along with transparency on how data is being used, increases the willingness of people to share data,” Gilbert added. “We hope to provide high quality and agile retail insights at a fraction of what the traditional market research firms would charge while targeting an increase in sustainable livelihoods by 30-50 per cent.”

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  • Silent roamers in decline as “roam like at home” goes global

    Silent roamers in decline as “roam like at home” goes global

    A Juniper Research study revealed that operator revenues from international mobile roaming are expected to recover slightly, following a decline in 2017 after the introduction of RLAH (Roam Like at Home) in Europe and other markets.

    But overall roaming revenues are expected to stay flat over the next 4 years, representing around 6% of total operator billed revenues and $51 billion in value.

    RLAH enables mobile users to use their monthly voice, data and messaging allowance while roaming without incurring additional charges.

    RLAH going global

    The new research, Mobile Roaming: Regulations, Opportunities & Emerging Sectors 2019-2023, found that, driven by the introduction of RLAH packages in EU and other regions such as North America and Asia-Pacific, the roaming market witnessed a significant rise in data usage and traffic.

    In 2017, Juniper estimates that data traffic grew by 200% globally and by 260% in West Europe.

    Research author Nitin Bhas added: “While the overall proportion of silent roamers continues to fall in many markets, driven by RLAH and cheaper bundles, the market also witnessed operators extending RLAH to more countries over the past 12-18 months. Additionally, a number of neighboring countries are announcing roam-free intra-regional agreements, similar to the EU.”

    Juniper estimated that the proportion of silent roamers not using any data roaming services in 2018 accounted for 51% of total data roamers globally, down from 72% in 2013.

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  • Telenor Myanmar extends non-stop roaming to Malaysia, Singapore

    Telenor Myanmar extends non-stop roaming to Malaysia, Singapore

    Telenor Myanmar has expanded its unlimited international data roaming service to Malaysia and Singapore, one month after the launch of the new service in Thailand.

    The company’s non-stop data roaming pack offers unlimited data in the three international markets for total fees of 999 kyats ($0.65) for three days of service. Speeds are uncapped for the first 1GB per day, and then shaped to 512kbps.

    Prepaid and postpaid customers can activate the service on the MyTelenor APP, sending a message to a dedicated number, or dialing a different number.

    “We are amazed by the support we have seen on our latest roaming product for visitors to Thailand. So we decided to extend this popular service to Malaysia and Singapore which we know as the other two most frequently visited countries in Southeast Asia,” Telenor Myanmar CMO Amaresh Kumar said.

    “We have made international roaming affordable for everyone and we welcome our customers to experience the only worry-free data roaming packs that users can get in Myanmar.”

    Thanks to the connections of parent company Telenor from Norway, Telenor Myanmar now offers roaming services with 171 partner operators in 125 countries, with its 4G roaming service currently available in China, Thailand, Malaysia, Singapore, Japan, UAE, Canada, Macau, Taiwan, New Zealand, Sweden, Belgium and Norway.

    Meanwhile subscribers to 227 operators from 134 countries can use their overseas SIMs with the Telenor network in Myanmar.

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  • CTG, Global Switch, Daily-Tech open Singapore data center

    CTG, Global Switch, Daily-Tech open Singapore data center

    China Telecom Global, Chinese data center infrastructure developer and operator Daily-Tech and the UK-based Global Switch have jointly open a data center in Singapore’s Woodlands district as part of their three-way partnership.

    The S$280 million ($206.4 million) Global Switch Singapore Woodlands data center spans 25,000 square meters and has been constructed to operate to Tier III+ standards.

    The Singapore data center is the second to be built under the three-way partnership after the HK$5 billion data center in Tseung Kwan O that opened in December 2017.

    The Singapore Woodlands data center is designed to a power usage efficiency of just 1.34, making it the most power efficient data center available to customers in Singapore. The data center services are powered by 30MVA of utility power supply capacity and backed by a 24/7 networks operations center.

    The data center will connect to China Telecom Global’s network of subsea and terrestrial cables as well as other data centers around the world. It is Global Switch’s 12th data center globally.

    “This is a milestone entry into the Southeast Asian countries’ market for Daily-Tech through our strategic business partnership,” Daily-Tech chairman Li Qiang said.

    “Customers in the region – particularly those looking to expand through China’s Belt and Road projects, will now find more convenient connections and access to well-managed services to support their business growth. This partnership offers customers commitment, a track record in servicing and bespoke services, and best practice management.”

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  • Alibaba Group sales down this month

    Alibaba Group sales down this month

    Alibaba Group sales soared 41 per cent in the December quarter as its customer based neared 700 million.

    The Chinese company’s turnover for the three months reached US$17.057 billion and its net income attributable to shareholders $4.807 billion.

    “Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700 million consumers across retail, digital entertainment and local consumer services,” said CEO Daniel Zhang. “Our growth is also driven by the power of Alibaba’s cloud and data technology that helps expedite the digital transformation of millions of enterprises.”

    Alibaba group sales from core commerce increased 40 per cent to $14.958 billion, while the cloud-computing division posted 84 per cent growth, turning over $962 million. The digital media and entertainment division achieved 20 per cent growth to reach $944 million.

    In a statement, Alibaba said its Taobao platform achieved “robust user growth and enhanced engagement”. Last December, its China retail marketplaces had 699 million mobile monthly average users, representing a quarterly net increase of 33 million. The annual active consumers on its China retail marketplaces was 636 million for the 12 months ended December 31, compared to 601 million for the 12 months ended September 30 last year, “reflecting successful user acquisition programs, such as referrals through the Alipay app”.

    More than 70 per cent of the increase in annual active consumers was from third-and-lower tier cities.

    Tmall thrives

    Alibaba said GMV on its Tmall business grew 29 per cent year on year in the December quarter, outpacing the industry.

    “This robust growth was driven by strength in the fast-moving consumer goods (FMCG), apparel and home furnishing categories,” the company said.

    During the quarter, Tmall signed up new brands to the platform including Valentino, Ermenegildo Zegna, Stuart Weitzman and Sergio Rossi which opened flagship stores and joined the Tmall Luxury Pavilion.

    Meanwhile, Alibaba’s proprietary grocery retail chain Freshippo (formerly Hema) continued to expand its footprint, “optimise its stores and introduce new initiatives that improve customer experience”. As of December 31, there were 109 self-operated Freshippo stores in China, primarily located in tier 1 and tier 2 cities, which continued to achieve “robust same-store sales growth” through the quarter.

    ‘Robust’ Lazada growth

    Alibaba’s Southeast Asian e-commerce platform Lazada achieved what the company described as “robust growth” in GMV. The company upgraded Lazada’s technology, which resulted in boosting the number of active users and achieved greater user engagement on Lazada’s mobile app.

    “We continue to invest resources to integrate Lazada’s business and technology operations into Alibaba with the aim of building a strong foundation for us to extend our offerings in Southeast Asia.”

  • SK Telecom to launch data analyzer with Microsoft

    SK Telecom to launch data analyzer with Microsoft

    Korea’s No. 1 mobile carrier SK Telecom said Wednesday it will collaborate with U.S. software giant Microsoft for big data solutions to expand its presence in the global market. SK Telecom said it signed a development and global business cooperation agreement with Microsoft in Silicon Valley to step up development and global marketing in big data analysis.

    Under the partnership, SKT will launch its real-time big data analyzer, Metatron, on Microsoft’s public cloud platform Azure.

    Metatron provides quick and easy data analysis, which also includes data collection, storage and visualization processes. Azure is the world’s second-largest public cloud provider, used in 140 nations across the globe.

    The two companies agreed to launch the big-data-based asset performance-management service for the commercial market in July.

    “The partnership is expected to set the ground for Metatron’s footprint in the global market,” Choi Yong-jin, SKT’s data labs director, said in a release.

    Already well-established in its domestic market, SK Telecom has focused on leveraging its mobile network technology expertise and increasing revenue in content, software and security.

    During MWC Barcelona, set to open next Monday, the company plans to demonstrate its 5G technology, including quantum-safe cryptography solutions and mobile edge computing.

    Quantum-safe technology encrypts transmitted data using special quantum keys, which prevents interception or theft.

    Edge-computing systems process data locally, in nearby data centers or on devices, which eases the strain on networks and improves data reply times.

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  • Google was fined for $57 million under the GDPR

    Google was fined for $57 million under the GDPR

    The CNIL, the French data protection watchdog, has issued its first GDPR fine of $57 million (€50 million). The regulatory body claims that Google has failed to comply with the General Data Protection Regulation (GDPR) when new Android users set up a new phone and follow Android’s onboarding process. Two nonprofit organizations called ‘None Of Your Business’ (noyb) and La Quadrature du Net had originally filed a complaint back in May 2018 — noyb originally filed a complaint against Google and Facebook, so let’s see what happens to Facebook next. Under the GDPR, complaints are transferred to local data protection watchdogs.

    While Google’s European HQ is in Dublin, the CNIL first concluded that the team in Dublin doesn’t have the final say when it comes to data processing for new Android users — that decision probably happens in Mountain View. That’s why the investigation continued in Paris.

    The CNIL then concluded that Google fails to comply with the GDPR when it comes to transparency and consent.

    Let’s start with the alleged lack of transparency. “Essential information, such as the data processing purposes, the data storage periods or the categories of personal data used for the ads personalization, are excessively disseminated across several documents, with buttons and links on which it is required to click to access complementary information,” the regulator writes.

    For instance, if a user wants to know how their data is processed to personalize ads, it takes 5 or 6 taps. The CNIL also says that it’s often too hard to understand how your data is being used — Google’s wording is broad and obscure on purpose.

    Second, Google’s consent flow doesn’t comply with the GDPR according to the CNIL. By default, Google really pushes you to sign in or sign up to a Google account. The company tells you that your experience will be worse if you don’t have a Google account. According to the CNIL, Google should separate the action of creating an account from the action of setting up a device — consent bundling is illegal under the GDPR.

    If you choose to sign up to an account, when the company asks you to tick or untick some settings, Google doesn’t explain what it means. For instance, when Google asks you if you want personalized ads, the company doesn’t tell you that it is talking about many different services, from YouTube to Google Maps and Google Photos — this isn’t just about your Android phone.

    In addition to that, Google doesn’t ask for specific and unambiguous consent when you create an account — the option to opt out of personalized ads is hidden behind a “More options” link. That option is pre-ticked by default (it shouldn’t).

    Finally, by default, Google ticks a box that says “I agree to the processing of my information as described above and further explained in the Privacy Policy” when you create your account. Broad consent like this is also forbidden under the GDPR.

    The CNIL also reminds Google that nothing has changed since its investigation in September 2018.

  • Vietnam says Facebook violated cybersecurity law

    Vietnam says Facebook violated cybersecurity law

    Vietnam says Facebook has violated its new cybersecurity law by allowing users to post anti-government comments on the platform. “Facebook had reportedly not responded to a request to remove fanpages provoking activities against the state,” the official said, citing the Ministry of Information and Communication. In a statement, a Facebook spokeswoman said: “We have a clear process for governments to report illegal content to us, and we review all these requests against our terms of service and local law.”

    She did not elaborate. The ministry said Facebook also allowed personal accounts to upload posts containing “slanderous” content, anti-government sentiment and defamation of individuals and organizations, the agency added.

    “This content had been found to seriously violate Vietnam’s Law on cybersecurity” and government regulations on the management, provision and use of internet services, it quoted the ministry as saying.

    Facebook had refused to provide information on “fraudulent accounts” to Vietnamese security agencies, the agency said in Wednesday’s report.

    The information ministry is also considering taxing Facebook for advertising revenue from the platform.

    The report cited a market research company as saying $235 million was spent on advertising on Facebook in Vietnam in 2018, but that Facebook was ignoring its tax obligations there.

    In November, Vietnam said it wanted half of social media users on domestic social networks by 2020 and plans to prevent “toxic information” on Facebook and Google.

  • Indonesian Consumers Face Harassment by Fintech Debt Collectors

    Indonesian Consumers Face Harassment by Fintech Debt Collectors

    As a result, she faces constant harassment by debt collectors who call her, wait outside her home, and even go as far as contacting her parents, family members, friends and acquaintances. “I was not expecting these fintech firms to subject their customers to such dreadful practices. They accessed my contact list and messages [on my mobile phone]. They even called my current bosses,” Cintia said.

    “My friends even told me that these fintech firms were defaming and harassing them, sending my friends’ personal photos to their bosses and some of the people in their contact lists, calling my friends imposters,” she added.

    The trouble started a few months ago after she borrowed Rp 1 million each from Uang Kita, Kantong Darurat and Perdana (previously known as Rupiah Plus).

    Risks Associated With Collateral-Free Loans

    Each fintech firm has a different set of requirements borrowers must meet, but most of them do not ask for any collateral, which comes with one major drawback: high interest rates.Despite customers only needing an identity card and a cellphone number to borrow emergency cash, these loans carry interest rates of 1 percent per day for a maximum tenor of 14 days. This exceeds by far the already steep interest rates of 29.9 percent per year that credit card companies charge their customers.

    Customers must also be prepared for some unpleasant treatment from these fintech firms if they fall behind on their repayments.

    “At first, I started borrowing money just for fun but I ended up with these debts and I’m making one debt to pay another debt. I want to pay it off in installments, but they refuse to accept it. They want me to settle the loans in full,” Cintia said.

    Misna Wati, who works for an undisclosed company in Jakarta, has owed money to 25 fintech firms since May last year. She said she regularly receives harassing phone calls and WhatsApp messages from debt collectors and representatives of the firms.

    “We are worried all the time. We did not expect them to be able to access our contacts, call logs, even messages,” said Misna, who declined to state her age and occupation.

    Misna and Cintia are now both seeking assistance from the Jakarta Legal Aid Institute (LBH).

    Need for Strong Data Protection

    With numerous reports about breaches of data privacy by the financial industry, the House of Representatives must accelerate the process involved in passing the data protection bill.The bill, which was supposed to be enacted last year, has now been included in the 2019 priority list of the National Legislation Program, which means that the House might deliberate it sometime this year.

    While Ministerial Regulation No. 20 of 2016 is intended to protects users’ personal data on the electronic system, it is deemed insufficient in preventing large-scale data breaches.

    The regulation only stipulates administrative penalties for violations or the settling of disputes between offenders and system providers or data owners, but does not allow for the recovery of damages related to customer data breaches.

    The bill, if it is passed into law, would apply both in Indonesia and abroad, but only to Indonesian citizens and Indonesia-based business entities.

    The regulation is very important as Indonesia has more than 143 million internet users, which is more than half of the country’s population, according to data compiled by the Internet Service Providers Association (APJII) in 2017.

    Fintech’s Popularity

    Fintech services have gained popularity in Indonesia over the past few years due to their seamless technology systems, innovation, customer-focused approach and simplicity. Fintech companies also offer payment systems, financial assistance and fundraising options.According to a joint study by global technology giant Google and Singaporean wealth fund Temasek, Indonesia’s internet economy – the financial value of all digital services – could exceed $100 billion by 2025, compared with $27 billion last year.

    But despite numerous benefits, the microcredit industry is still poorly regulated in Indonesia and the government is currently dealing with a rising number of illegal or unlicensed fintech firms operating in the country.

    The government banned 738 illegal financial technology websites and applications last year in a bid to protect consumers.

    As Indonesia is now one of the centers of the digital financial industry in the region, it attracts numerous companies from neighboring countries that establish a presence in the country, but which often choose not to obtain licenses from industry regulator, the Financial Services Authority (OJK).

    Most of the unlicensed fintech apps and websites are from China, Malaysia and Thailand. These fintech firms do not have registered offices, either in Indonesia or in their home countries.

    “The OJK has instructed us to ban unlicensed fintech websites and apps,” Ferdinandus Setu, acting head of public relations and communication at the Ministry of Communication and Information Technology, said in a statement last week.

    He said the ban so far applies to 211 websites and 527 smartphone apps, which seemed to have been increasing since August last year.

    There were 171 illegal fintech apps available for download on Google Play in November last year, compared with 144 in August. The ministry also recorded 77 illegal fintech websites in September.

    The ministry said no illegal fintech websites and apps were recorded between January and July last year.

    Ferdinandus said besides the OJK’s instruction, the communication ministry’s actions were also carried out after collecting public reports through a web crawler known as AIS, which filters out content deemed illegal under Indonesian law, such as pornography, the spreading of false news and the promotion of terrorism and radicalism.

    The ministry encouraged members of the public to report websites offering financial services that may be deemed illegal, or fintech companies that are not registered with the OJK.

    Reports can be submitted to aduankonten.id, or @aduankonten on Twitter. A task force comprising more than 13 ministries and agencies will investigate the reports.

  • LG seeks AI, robotics, big data talent in Silicon Valley

    LG seeks AI, robotics, big data talent in Silicon Valley

    LG Electronics Vice Chairman Jo Seong-jin will be in Silicon Valley on Nov. 14 scouting employees with expertise in future technologies such as artificial intelligence, robotics, big data and the cloud. He will meet with job candidates – mostly those with doctoral degrees in the areas of interest – and introduce LG’s vision for growth and plans to staff up in research and development. He will then meet with academics focused on artificial intelligence, including professors at Stanford University, to discuss technological trends and future prospects in the field, according to LG.

    Jo will also visit San Diego, San Jose and Seattle to meet with corporate leaders in IT, finance and consumer goods to discuss the company’s blueprint for the future.

    “LG must hire global talent to become a leader in future businesses based on artificial intelligence, big data and the cloud,” Jo was quoted as saying by LG in a release.

    LG will continue investing in leading companies and cooperating with other businesses in related fields, he added.

    Inaugurated as chief executive of LG Electronics in 2016, Jo has been outspoken about the company’s future in artificial intelligence.

    Delivering a keynote speech at the opening of the IFA tech fair in Berlin in August, he said LG will be “pouring the company’s resources into artificial intelligence,” given that the technology will determine LG’s future.

    LG launched an artificial intelligence research center in June. It is led by the company’s chief technology officer and devoted to voice, video and bio recognition as well as deep-learning algorithms.

    Earlier this year, the country’s second-largest electronics appliance producer established another center connected to LG’s Silicon Valley lab. It is focused on deep learning and automobile technologies.