July 24th, 2019 | by The Gerstein Fisher Team
How Data is Transforming Money
• Matan Parnes, Paypal’s Head of Global Risk and Data Sciences, joined me for a “Q Factor” podcast
• Technology is driving a dramatic transformation of money and digital-payment systems.
• To learn more, listen to Parnes’ podcast.
The overarching theme of “Q Factor” is that quantitative data is revolutionizing nearly every aspect of our lives. Certainly money, that ubiquitous store of value, is undergoing a dramatic technology-driven transformation around the globe. To better understand the digital present and future of money, I sat down with Matan Parnes, PayPal’s Head of Global Risk and Data Sciences.
Parnes describes how PayPal, which has 280 million active users around the world, is using machine learning to distinguish between good and bad people (i.e., electronic fraudsters). He also discusses how PayPal is harnessing technology to improve customer service and to control risk in its growing small-firm lending business. To learn more about the dramatic changes in digital payment systems, please listen to my podcast: https://gersteinfisher.com/podcasts/matan-parnes-how-data-is-transforming-money/