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AWS and Plaid Advance the Business Case for Open Banking and Pay by Bank

US financial companies now have the opportunity to leverage Open Banking and Pay by Bank following the Consumer Financial Protection Bureau's (CFPB) release of its final Rule 1033 draft on Oct 22. Plaid and AWS are among companies pushing the envelope in Open Banking, building solutions from bill payment modernisation to merchant-driven cashback. The user experience is central to pay-by-bank adoption, with consumers able to authenticate their account information and make payments over biometrically-driven, digitised services.
Pay-by-bank solutions are making headway in specific use cases, such as account-to-account transfers, but broader adoption will require clearer value demonstration for consumers and merchants. Merchants are already seeking out turnkey solutions to integrate pay by bank into existing checkout flows.
For financial services to move to successfully implement pay-by-bank solutions, the underlying technology systems have to evolve. The ability to handle real-time expectations in a scalable fashion, including instant fund transfers while preventing fraud and ensuring transparency, will be imperative to success.
The finalized Rule 1033 draft represents a major step in advancing Open Banking and Pay by Bank solutions in the U.S., with the 60 days before implementation an opportunity for banks and fintechs to innovate and align their systems to meet new compliance requirements. Stable safeguards and fraud liability for consumers and their data protection are fundamental to their adoption.
Incentives, beyond merchant-driven incentives and cashback for younger consumers to try pay-by-bank for eCommerce, are key to driving adoption while building trust and familiarity with the system. The move must be seen as more than a compliance obligation for financial institutions.
The UK's 2017 introduction of Open Banking prompted the advent of more innovative, customer-data driven solutions and since then the evolution of seamless payment solutions like Pay for Bank. Both AWS and Plaid have been at the forefront of developing strategies to advance the case for more innovative Open Banking and Pay by Bank solutions.
Consumer expectations and behaviours surrounding financial service delivery are expected to change considerably in the US following the implementation of the finalized Rule 1033 draft. The ruling is expected to facilitate value-based Open Banking and Pay by Bank solutions, rewriting the financial sector's delivery narrative.

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Dev

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API Gateway integration with AWS Services.

AWS API Gateway is highly available and scalable and provides easy integration with various AWS services like lambda, dynamodb, step functions and external or internal HTTP endpoints.
There are multiple ways to integrate Lambda Function with API Gateway including Lambda Proxy and Lambda Direct Integration. HTTP and Rest APIs are supported.
AWS Integration lets an API expose AWS service actions. In HTTP Endpoint Integrations APIs, requests flow from clients through API Gateway to external HTTP endpoints.
Mock Integration lets API Gateway return a response without sending the request further to the backend. Private integrations allow integration with services running in VPC by using VPC private links through network load balancer or to on premises services using AWS direct connect.
List, download or upload files to an AWS S3 bucket using API Gateway. A complete javascript code for this use case can be found on Github at https://github.com/SMKHub/cdk-s3-api.
API Gateway provides features like authorization, throttling, CORS, caching, transformations, openAPI specs, custom domain names to name a few.
Setting up integration requests parameters and response parameters is necessary for API GW to successfully call S3 apis and send response back to client.
Testing of API can be done using postman. Access key and secret access key must be set as API Gw authentication is set to IAM in CDK construct.
Finally, delete resources from the AWS account using the 'cdk destroy' command and manually delete objects from the S3 bucket before cdk destroy to avoid stack deletion failure.
Run 'cdk synth' to validate if code is fine and then run 'cdk deploy' to create stack resources in AWS account.

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Cybersecurity-Insiders

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Understanding Cloud Identity Security (CIS)

Cloud Identity Security (CIS) is a comprehensive approach to safeguarding user identities, credentials, and access permissions in cloud environments.
Key components of Cloud Identity Security include identity management, access management, multi-factor authentication (MFA), single sign-on (SSO), identity governance, and threat detection and response.
The importance of Cloud Identity Security lies in protection against data breaches, regulatory compliance, enhanced user experience, and operational efficiency.
Best practices for implementing Cloud Identity Security include conducting regular audits, implementing MFA everywhere, educating users, utilizing identity analytics, and staying updated with the latest trends and technologies.

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Tech Radar

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Apple finally got with the program and made a 16GB base memory option for the M4 iMac — now it needs to do the same with the M4 MacBooks

Apple has finally made 16GB memory the base option for the M4 iMac.
The move is seen as a positive step and there are hopes that Apple will do the same for the rest of the Mac line, especially the MacBooks.
The MacBook Pro, with its CPU-intensive programs, would greatly benefit from an upgrade to 16GB memory.
Even the MacBook Air, as a general-use laptop, would benefit from more memory to run multiple apps smoothly.

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Dev

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For Dummies: What is Terraform? How to use it with AWS?

Terraform is a tool for managing infrastructure as code (IaC) developed by HashiCorp.
With Terraform, you can write code to define how to build and manage infrastructure resources instead of manually configuring infrastructure.
AWS is a cloud platform that offers over 200 services to build and scale infrastructure flexibly, quickly, and efficiently.
Combining Terraform with AWS enables automation of infrastructure management, reducing human error risk, and providing easy rollback options.
Providers help Terraform connect to and manage resources on third-party services like Amazon Web Services.
Resources are the actual objects that Terraform creates and manages in AWS, examples include EC2 instances, S3 buckets, and VPC.
Modules are a set of reusable configurations files for managing complex configurations, organizing Terraform code clearly, and making it easier to maintain.
Terraform State stores information about the resources it manages. This allows Terraform to track the current state of infrastructure and compare it with the configuration file to apply necessary changes.
Variables make Terraform configurations more flexible by defining changeable values for different environments or resources.
Outputs are values you can retrieve after Terraform completes deployment, such as the IP address of an EC2 instance or the name of an S3 bucket.

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Arstechnica

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Google accused of shadow campaigns redirecting antitrust scrutiny to Microsoft

Microsoft accuses Google of funding groups to conduct biased studies against Microsoft and mislead antitrust enforcers and the public.
Google allegedly recruits smaller companies to serve as the public face of an astroturf group called the Open Cloud Coalition.
Microsoft claims that Google pays these companies to obfuscate Google's involvement in the coalition.
Microsoft cites the Open Cloud Coalition and the Coalition for Fair Software Licensing as examples of shadow campaigns funded by Google.

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Dev

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Getting Started with AWS EC2: A Complete Guide for Beginners

AWS EC2 is a cloud computing service that allows users to rent virtual servers.
To get started with AWS EC2, users need to sign up for an AWS account and choose their operating system and instance type.
Important steps include setting up a security group, creating or selecting a key pair, and connecting to the instance using SSH.
Once connected, users can perform tasks such as updating the system, keeping security group rules restrictive, and taking snapshots for backup.

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Digitaltrends

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M4 Mac mini appears to have just been leaked by Amazon

Amazon accidentally listed the M4 Mac mini on its website.
The listing included a comparison chart revealing the new Mac mini's features.
The Mac mini is expected to include two front-facing USB-C or Thunderbolt 4 ports.
The specifications suggest options for M4 and M4 Pro chips, up to 64GB of RAM, and 8TB of storage.

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Intelalley

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Google Cloud to Modernize Citi’s Tech Infrastructure

Citi and Google Cloud have entered into a strategic agreement to modernize Citi's technology infrastructure.
Citi will migrate workloads and applications to Google Cloud's infrastructure to offer improved digital products and streamline workflows.
Citi will utilize Google Cloud's Vertex AI platform for generative AI capabilities to empower customer servicing teams.
Google Cloud's secure infrastructure meets regulatory and security requirements for financial institutions.

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Tech Radar

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4 things you can do in the ChatGPT Windows app that it does better than Copilot

The ChatGPT Windows app offers several advantages over Microsoft's Copilot.
1. Instant Access with Alt + Space: ChatGPT can be accessed instantly with Alt + Space, making it quicker to use compared to opening the Copilot app.
2. Accessing Chat History Across Devices: ChatGPT syncs chat history across devices, allowing users to continue conversations seamlessly.
3. Image Analysis for Visual Projects: ChatGPT has the ability to analyze uploaded images, which Copilot currently lacks.
4. Plugin and GPT Store Access (Coming Soon): The ChatGPT app will have access to OpenAI's GPT Store and various plugins for customization and specialized functionality.

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Tech Radar

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Meta AI is now a Reuters newsboy

Meta AI has reached a deal with Reuters to integrate the news service into its chatbot.
Users in the U.S. can now get news summaries and links from Reuters within the chatbot.
Meta has previously avoided deals with news providers and blocked news content in Canada and the EU.
The agreement with Reuters aims to provide credible information and stay on the news service's good side.

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Tech Radar

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Quordle today – hints and answers for Tuesday, October 29 (game #1009)

Quordle today (game #1009) is a challenging word game alternative to Wordle with more than 1,000 games offered so far.
The game Quordle offers a good challenge if you like to play word games and is still going strong even after more than 1000 games.
There are four different vowels in Quordle today although Y is not included as a vowel.
Today's Quordle answers include two puzzles that contain repeated letters.
Q, Z, X, and J do not appear in any of the Quordle answers for game #1009.
None of the Quordle answers for game #1009 start with the same letter.
Today's Quordle answers start with the letters C, B, S, and P.
The answers to game #1009 of Quordle are CLIFF, BURNT, SNAKY, and POLYP.
The word POLYP is spelled very uncommonly with a P at both ends and a Y in the fourth position.
BURNT is a less commonly used form of burned and CLIFF has two Fs at the end making today's Quordle answers a tricky selection.

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Tech Radar

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NYT Strands today — hints, answers and spangram for Tuesday, October 29 (game #240)

NYT Strands is the latest word game by the New York Times.
Today's theme for NYT Strands is "You and me".
Clue words for today's NYT Strands are NAME, MESS, SITE, BIKE, DINE, FINE.
The spangram for today's NYT Strands is TOGETHERNESS.

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Digitaltrends

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Early Black Friday Chromebook deals 2024: Save on HP, Lenovo, and Acer

Early Black Friday deals are happening now and there are many great discounts on Chromebooks available.
Some of the best deals include Lenovo IdeaPad 3i, Lenovo IdeaPad Slim 3, Acer Chromebook Plus 515, Lenovo IdeaPad Duet 5, HP Full HD Chromebook Plus, HP Chromebook Plus x360, and Acer Chromebook Spin 714.
The Lenovo IdeaPad 3i is perfect for students and even has a full HD screen for streaming.
The Acer Chromebook Plus 515 has an Intel Core i3-1215U CPU, 8GB of memory, 128GB of storage, and a large full HD screen. It is sleek and has Google AI too.
For those needing better performance, the Acer Chromebook Spin 714 is ideal with an Intel Core i5-1335U CPU, 8GB RAM, and 256GB of SSD storage.
When choosing a Chromebook, consider your budget, purpose, and CPU performance for better speed.
The deals were chosen based on experience, regular use, and extensive research.
The models recommended are worth buying for the stated prices.
Other deals happening are on Alienware, HP Envy, and Best Buy laptops.

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Digitaltrends

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Best Buy early Black Friday laptop deals: Asus, Lenovo, Dell, HP, Apple

Best Buy is offering early Black Friday laptop deals on top brands like Asus, Lenovo, Dell, HP, Acer, and Apple.
Asus E410 is a budget-friendly laptop with Intel Celeron N4500, Intel Iris Xe Graphics, and 4GB of RAM, available at a 33% discount.
Lenovo IdeaPad 3i Chromebook runs on the Intel Celeron N4500 processor, Intel UHD Graphics, and 4GB of RAM, with a 64GB eMMC, available at a 44% discount.
Dell Inspiron 15 Touch Screen offers versatility with its 15.6-inch Full HD touchscreen, Intel Core i5 processor, Intel UHD Graphics, and 8GB of RAM, available at a 44% discount.
HP 17.3-Inch Laptop has a 17.3-inch screen with Full HD resolution, AMD Ryzen 5 7430U processor, AMD Radeon Graphics, and 8GB of RAM, available at a 37% discount.
Asus Zenbook 14 OLED provides a 14-inch OLED screen with WUXGA resolution, Intel Core Ultra 7 processor, Intel Arc Graphics,16GB of RAM, and 1TB SSD, available at a 33% discount.
Acer Nitro V has 13th-generation Intel Core i7 processor, Nvidia GeForce RTX 4060 graphics card, and 16GB of RAM with a 15.6-inch Full HD screen and a 512GB SSD, available at a 27% discount.
Apple MacBook Air M3 with M3 chip, eight-core CPU, eight-core GPU, 8GB of RAM, 13.6-inch Liquid Retina display, and 256GB SSD is available at an 18% discount.
HP Victus 16 is a gaming laptop with AMD Ryzen 7 8845HS processor, Nvidia GeForce RTX 4070 graphics card, and 16GB of RAM, a 16.1-inch screen with Full HD resolution and a 512GB SSD, available at a 36% discount.
To choose a laptop on Black Friday, you should consider its purpose, specifications, and laptop brands to get a reliable and well-built machine.
The laptop Black Friday deals from Best Buy are selected based on huge discounts for affordable or premium models and lowest prices for specific laptop models.

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