Financial fraud is among the leading causes of profit loss to businesses that rely on money transactions. Whether it’s a banking app or a retail company, compromised security poses an enormous threat to a business’s operations. In addition to financial damages, fraud also contributes to decreased customer loyalty and potential legal issues, particularly when it infiltrates fintech apps that are expected to always be at peak reliability.
To guard against fraud, banks and financial institutions in 2021 employ machine learning. …
Young generations now care more about the environment and carbon footprint, while looking for ways to save money. In this case, renting and the sharing economy are the best options to get high quality for a lower price. As a result, around 70% of millennials and Generation Z respondents prefer renting over buying.
And the market is ready to follow the latest trends. People now can rent vehicles, clothes, home appliances, real estate, etc. It creates a boundless field of opportunities and stimulates startup ideas to look up to successful companies like Airbnb.
Below, you’ll find characteristics of renting platforms…
According to recent statistics , nearly 90% of startups are unsuccessful, which is the sad truth. What causes their failure is even more revealing: according to an investigation by CB Insights, a staggering 42% of new ventures never get off ground because they misinterpret the market need.
Admittedly, estimating customer demand is something they should have done at the very start — MVP feature prioritization and getting a proof-of-concept. Deciding on MVP features has a crucial influence on the success of entrepreneurial efforts.
How do you define the features for your MVP? You can’t include all of them, so it…
The software development market in 2021 is a high-pressure environment that demands startups to deliver products at top speeds without losing in quality or innovation. One of the key ways to achieve that is DevOps.
By bringing IT operations and development together, this methodology enables businesses to establish short production life cycles and maximum efficiency from the very beginning, get a headstart on the market, and secure the best tools for future scaling.
Machine learning, once confined to the domain of scientific research, is now rapidly penetrating the eCommerce industry as an irreplaceable tool for many businesses.
Companies turn to AI to gain better analytical insights, craft more accurate recommendations for customers, reduce operating expenses, and stay ahead of competitors. As the technology advances, more and more businesses rush to adopt it and make the most out of the newly offered opportunities.
In fact, the market for artificial intelligence in retail is growing so fast, it is predicted to reach $10.9 billion by 2026 , a six-fold increase from its value of $1.8…
Most of us are familiar with GPS trackers: they are the power behind fitness bands and running apps, services like Google Maps, and location-based product promotions. In 2021, however, the true potential of this technology is being unleashed in enterprise applications.
Businesses, struggling to maintain efficiency and security in the world of rapidly growing demands, are beginning to leverage GPS technology to enhance their fleet management, logistics transparency, return on investment rates, and regulatory compliance.
In February 2021, the number of Clubhouse users reached 6 million. Launched during the lockdown of spring 2020, the platform’s user base is showing an astounding growth rate, which comes as no surprise, given the social isolation and the limitations that come with it. With the pandemic going on for months on end, and lockdowns frequently reinstated, the rise of voice chat apps like Clubhouse is something we could naturally expect.
Currently, there are 2 million new people joining Clubhouse each week. The platform has recently received a new round of funding and its value has reached $1 billion.
The era of MP3s, walkmans, and CDs is long over, are considered to many as, at most, collectable items. We have entered into one of the finest hours — music streaming apps. They are now revolutionizing the industry and transforming consumer habits on a global scale.
The reason for this is straightforward. Music apps like Spotify provide convenience people have never known before. They are easily accessible (right from any smartphone), affordable, and have nearly any song right at your fingertips.
The audience of such apps is growing every hour, so no wonder that lots of entrepreneurs consider joining the…
As companies increasingly rely on analytics to make critical business decisions, data is gradually becoming one of the main assets of an organization. In fact, its value translates into the monetary equivalent. That is why data migration is so important: a properly established data migration process can save the organization many hassles, including compromised security and expenses.
In this article, we will talk about the existing data migration types, outline the challenges of the data migration process, and list the best practices for migrating your data. Read on to learn more!
In essence, migrating the data means moving it from…
Achieving the most cost-efficient operations is no small feat when it comes to modern logistics. With the ever-growing number of vehicles on the road, driver shortages, and tight deadlines, delivery can quickly get hectic and start eating through a large portion of your company’s budget.
While many companies still choose to rely on manual solutions, it’s imperative to incorporate smart delivery route planning and prevent unnecessary expenses. Route planning software aims to optimize logistics via computation. It takes in the data about each order and driver and outputs the fastest possible route that combines all delivery points. …
Eastern Peak is a custom software development company which possesses deep expertise in working with startups and building intuitive mobile apps from ground up.