Apple, Google and others form coalition to boost technology in the financial sector
A few technological giants, including Apple, Amazon, Google, PayPal, and Intuit, have announced an association for the formation of the Financial Innovation Now coalition (through the code / Re). The group aims to promote policies and friendly changes with technology within the financial services sector. Those behind the group will work to alter the political debate on relevant issues such as security technology, mobile payments and fraud prevention.
"The technological transformation will make financial services more accessible, more affordable and safer," said Brian Peters, executive director of Financial Innovation Now. "The challenge in Washington is to make sure that policy makers understand that and feel comfortable with it, and do not apply the old rules to the new technology." Thanks to the growing popularity of mobile payments solutions such as Apple Pay, Google Wallet and PayPal, the companies behind these services are positioned as part of the future in the discussions on financial services in Washington, since they are more part of the conversation that never. before. The association also intends to work together to achieve overall improvements for each individual service on issues such as user authentication and security, faster payment processing and "access to basic financial services for the two billion people in the world that does not have enough services. "
Extract of article published in: https://www.macrumors.com/2015/11/03/apple-coalition-technology-financial-sector