Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes Australian plans to gain access to encrypted data, along with a funding boost for blockchain. In addition, two major retail chains have upped their digital efforts, and behavioral biometrics is attracting more of the spotlight.
The Australian government put forth on Tuesday (Aug. 14) a new law that would call on technology companies, including Apple, to provide access to encrypted data if they receive a warrant.
Capital market tech firm Axoni has become a leader in blockchain technology via partnerships with investment banks, asset managers and market infrastructure companies. Its AxCore technology is being used in a variety of markets, including complex derivatives and high-volume foreign exchange.
Shoppers at H&M can search for an item by using an image. The chain is also rolling out a voice-activated mirror in its flagship New York City location.
Shoppers at the NY store can see a digital map that shows how people in neighborhoods across the city are sleeping. In addition, the store offers a presentation on the Sleep Number 360 that shows the benefits of the “smart bed.”
Royal Bank of Scotland is among the handful of banks that are collecting biometric behavioral data, having begun doing so two years ago with private banking accounts for its wealthy clients. The bank is now expanding this practice to all of its business and retail accounts.