On all iPhones and iPads, the default image format is HEIC. Along with Apple, HEIC files are supported by Canon, Sony, Qualcomm, and Samsung. Here is all the information you need about the HEIC file format.

The HEIC format was developed by the Moving Pictures Expert Group (MPEG) in the middle of 2015. One reason Apple made HEIC the default format on all iPhones is because it requires around half the storage of a JPG file of comparable quality. A HEIC file also contains an alpha channel for transparent images, a depth map for LiDAR scans, depth estimates, and more. It provides more versatility overall than a JPG file.

For example, a JPEG file needs 10MB of space to have the same visual quality as a 5MB HEIC file. Even though 5MB on today's smartphones doesn't sound like much, when you consider thousands of images, the overall space-saving can reach gigabyte levels. Additionally, it causes speedier upload and file transfer rates on the internet. The HEIC file format is supported by Adobe Photoshop and Lightroom, two standard editing programs used by photographers.
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Although HEIC format capture is enabled by default on iPhones and iPads, you can disable it. To turn on or off the HEIC format on your iOS device, Open Settings/Camera/Formats/Most Compatible.

Adobe has unveiled Firefly, a new suite of generative AI tools it hopes will encourage more design professionals to embrace rather than fear this cutting-edge technology.
Why it matters. As generative AI has swept the globe, artists have had a difficult time adapting to it. While some view it as a useful tool, others see it as a threat to jobs and a kind of thievery.
Adobe wants to address two obstacles that are preventing business usage of the technology with Firefly: worries about copyright issues and the absence of professional-grade tools.

• On top of Adobe's extensive font library, the initial Firefly model provides both a text-to-image engine and the ability to create visual text effects.
• Besides pictures from Adobe Stock, the model was trained on pictures that were in the public domain or distributed under an open license.
• Although Adobe hopes to incorporate Firefly into its family of creative tools, starting with Adobe Express, Photoshop, and Illustrator and the Adobe Experience Cloud, it is initially only available in beta form on the web.

There is intense disagreement within the art community about how to react to introducing generative AI tools like Stable Diffusion and OpenAI's Dall-E 2.
A few of artists who embrace technology the most are already using generative AI in their creations, including some whose work has been on show in a San Francisco gallery.
Stable Diffusion has been sued by Getty Images, which claims that their engine was inappropriately trained on copyrighted images.
Training the AI system on stock imagery offers Adobe a couple of advantages for avoiding intellectual property infringement.

• Compared to search engines that are trained on content from throughout the Web, Adobe has more rights and control over images from its Adobe Stock database.
• Brand names and logos, as well as other forms of copyrighted content, are frequently absent from stock pictures.

According to Adobe, anyone that submits their work to Stock will be able to take advantage of generative AI's revenue opportunities. But the corporation has provided no information about how this will operate. David Wadhwani, president of Adobe's digital media division, summarized by saying, “We want it to be safe for creative usage.”

Now that we have two months of the new year under our belts, it’s time to look out to the remaining ten months to see what areas of technology are going to have the biggest impacts on our lives. 

Before we look forward, let’s look back to the end of 2022 and see the trends that were forming and how they will affect our world in 2023. 

From a hardware perspective, it was an unexciting year. Both Apple and Samsung refreshed their flagship smartphones, but most reviewers rated the changes as incremental upgrades. Mark Zuckerberg, with his eyes on changing the way people work, introduced a $1,500 virtual-reality headset. But, with only a two-hour battery, most users will strap the new headset on for gaming.

From the online world, we saw huge changes at Twitter after Elon Musk spent $44 billion to buy the company. In the last few months, he has gutted the staff, suspended accounts for some journalists and reinstated several questionable users. All of this had driven Twitter users to seek alternative sites. Another social media company, TikTok, has been banned on government-issued devices at both the federal level and in several states.

Finally, in November, OpenAI introduced a chatbot called ChatGPT. In the first month of its availability, the online AI tool registered more than one million users. Given that is can produce seemingly intelligent responses to questions posed by users. Unfortunately, it can produce totally incorrect responses and couch those responses in wording that appears authoritative. 

This is just a taste of what's in store for us in the upcoming year. Together with the same trends that have persisted over the past few years, like developments in electric cars and the metaverse, we can anticipate many intriguing innovations in A.I.-powered, language-processing technology. Social media might even have a resurgence.

Here are the tech developments that will invade our lives in 2023.

1.New Embedded AI Assistants. Early adopters who were astounded by ChatGPT's verbal proficiency were equally astounded by how inaccurate it can be, especially with basic mathematics. Despite their flaws, it is reasonable to expect that software developers, led by Microsoft, will embed AI technology within familiar apps like Word, Excel, Google Sheets, Craft and others. It's important to note that many of the tasks these new AI modules will tackle will be summaries with a particular interest point in mind. 

Here’s an example. You’re writing a research paper on warfare and you have come across a 100-page essay on World War II. Imagine asking the AI tool to read the full document and highlight the key points regarding a certain facet of the war.

Yoav Shoham, a professor emeritus at Stanford University who contributes to the AI Index, an annual assessment on the development of artificial intelligence, said: "If you want to supplement your writing with a historical fact, you won't need to go and search the web and locate it. With just the click of a button, it'll be there."

2. Virtual reality, a.k.a. the metaverse. Tech firms have been advertising virtual reality headgear for gaming for most of the last decade, including the Quest 2, HTC Vive, and Sony PlayStation VR. Tech companies are making grand claims that these headsets will eventually transform our lives similarly to what smartphones have done so now that technology has advanced to become more potent and wireless.

One person who envisions the metaverse as a place where we may work, collaborate, and create is Mark Zuckerberg of Meta. The business thought the technology could be used as a multitasking tool for employees juggling meetings while skimming through emails and other duties when it unveiled the Quest Pro headgear this year. It remains to be seen whether Meta can realize its vision for the metaverse, given that the device's initial reception was unfavorable.

The VR drumbeat will continue in 2023. It is widely believed that Apple will unveil its first headgear, despite having previously stated that it would never use the term "metaverse." Apple's CEO, Tim Cook, has provided hints about the device even though the business has released no information about it. Cook has expressed his excitement about employing augmented reality to use digital data in the real world.

“You’ll wonder how you lived your life without augmented reality, just like today you wonder: How did people like me grow up without the internet?” Mr. Cook said in September to students in Naples.

Yet, he continued, the technology will not suddenly become significant. The first version of Apple's headgear will probably be used for gaming, just like many others before it, as wireless headsets continue to be large and only used inside.

In other words, 2023 will probably still not be the year that these headsets become widely used, according to Carolina Milanesi, a consumer tech analyst for the research firm Creative Strategies. However, there will be plenty of talk about the metaverse and virtual, augmented, and mixed goggles.

“From a consumer perspective, it’s still very uncertain what you’re spending your thousand bucks on when you’re buying a headset,” she said. “Do I have to do a meeting with V.R.? With or without legs, it’s not a necessity.”

3.Electric Vehicles Beyond Tesla. Last year, Tesla continued to dominate the market for electric vehicles (EVs), but 2023 might mark a turning point for the sector. Since Mr. Musk's takeover of Twitter, Tesla's shares have fallen precipitously this year, and its reputation has suffered. The market's competitiveness is also escalating as EV manufacturers, including Ford Motor, Kia, General Motors, Audi, and Rivian, increase their output of electric vehicles.

Tesla also declared in November that it would allow other electric vehicles to use its charging port design. That would make it possible for owners of other makes of vehicles to refuel at Tesla's charging stations, which are much more numerous than other kinds of chargers.

Also, sales of gas-powered cars will be prohibited in both California and New York by 2035. All of this creates the ideal conditions for the electric car market to grow significantly beyond just one brand in 2023.

4.New Social Media Choices. Most of 2022 saw Twitter in disarray, and 2023 is expected to be no different. Last month, in reaction to the criticism, Mr. Musk conducted a Twitter "poll" asking his fans if they thought he should step down as the company's CEO. Ten million users, or a majority, chose yes, but Mr. Musk said he wouldn't leave until someone "foolish enough to do the job" was found.

TikTok is still in trouble after its Chinese parent firm, ByteDance, revealed that an internal probe had revealed that staff members had improperly collected user data from American users, including that of two journalists. The information puts pressure on the Biden administration to think about imposing even stricter limitations on the app in the US.

Whatever happens to Twitter and TikTok, it's certain that social media is undergoing a significant change. A social network called Mastodon, which resembles Twitter in appearance, has attracted many journalists, techies, and influencers. Yet many younger people have already switched to more recent apps like BeReal, where pals can keep in touch by simultaneously taking and sharing selfies.
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Which new social networking app will be a huge deal in 2023 is a mystery. Mastodon has lost about 30% of the million users they gained because of changes at Twitter. Yet, one thing is for certain: Those who are offended by Twitter are looking for a friendly environment where they can hang around.

Cybercriminals are experimenting with a new method of delivering the dangerous payload and employing specially prepared phishing emails to infect users with malware.

According to a study by Proofpoint, digital OneNote notebooks (denoted by “.one” extensions) are increasingly being used by cyber-attackers to spread malware. OneNote is included in the Microsoft 365 office software bundle and a widely used piece of software.

OneNote documents are rarely misused in this manner, according to cybersecurity professionals, and there is only one clear reason attackers are experimenting with them: they can more readily avoid threat detection than other attachments. And it seems to be effective.

According to statistics from open-source malware repositories, initially observed attachments were not identified as dangerous by several anti-virus engines. As a result, it is likely that the original campaigns had a high success rate if the email was not stopped, according to Proofpoint.

Proofpoint expanded on the study findings by saying, ”Since Microsoft began blocking macros by default in 2022, threat actors have experimented with many new tactics, techniques, and procedures, including use of previously infrequently observed file types such as virtual hard disk (VHD), compiled HTML (CHM), and now OneNote (.one)."

The phishing emails are attempting to deliver one of several malware payloads, including AsyncRAT, Redline, AgentTesla, and DOUBLEBACK, all of which are designed to steal sensitive information from victims, including usernames and passwords. The phishing emails were first sent in December 2022, with the number significantly increasing in January 2023.

Researchers from Proofpoint also report that a cybercriminal organization they track by the name of TA577has used OneNote in campaigns to distribute Qbot. TA577 operates as an initial access broker, selling stolen usernames and passwords to other cybercriminals, including ransomware gangs, as opposed to stealing data for its own use.

There have been over 60 of these campaigns found so far, and they all have the same traits. Emails and file attachments are connected to topics like invoicing, remittances, shipping, and seasonal themes, such as details on a Christmas bonus, among others.

For instance, attachment names in a phishing letter addressed to targets in the manufacturing and industrial sectors included references to machine parts and specifications, showing that the lure had undergone extensive investigation.

Other OneNote efforts target thousands of potential victims all at once and are a little broader. One of these efforts used fake invoices to target the education industry, while another was more broadly disseminated and promised a Christmas bonus or present to thousands of unsuspecting victims.

The victim must open the email, open the OneNote attachment, and click on any harmful links for the phishing scam to succeed in each instance. OneNote does include a warning message regarding dangerous URLs, but users who have received an email that has been specially tailored to appeal to them or who believe they may be receiving a bonus may attempt to ignore this warning.

Researchers caution that additional cyber-threat groups will probably use this strategy successfully to distribute phishing and malware campaigns because it is expected that these efforts will succeed frequently if the emails are not stopped.
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"Proofpoint has increasingly observed OneNote attachments being used to deliver malware. Based on our research, we believe multiple threat actors are using OneNote attachments to bypass threat detections," said researchers, who warn that this is "concerning" because, as demonstrated by TA577, this tactic can become an initial entry point for distributing ransomware, which could cripple a whole organization and its networks.
"This is a phishing technique that convinces a victim to open a document with an embedded malicious attachment and then bypass a security prompt to run the attachment. We encourage customers to practice good computing habits online, including exercising caution when clicking on links to webpages or opening unknown files," a Microsoft spokesperson said.

Last Tuesday, Microsoft held a press briefing to announce two new web-based software upgrades. The same AI technology that powers the chatbot ChatGPT has been updated and included in the latest edition of Microsoft's Bing search engine. A fresh experience for exploring the web and getting information online is promised by the firm as it introduces the product alongside new AI-enhanced features for its Edge browser.

“It’s a new day in search,” said Microsoft CEO Satya Nadella at an event announcing the products. The paradigm for web search, according to Nadella, hasn't changed in decades, but AI can offer information more swiftly and fluidly than conventional techniques.

“The race starts today, and we’re going to move and move fast,” Nadella said. “Most importantly, we want to have a lot of fun innovating again in search, because it’s high time.”

Today, the company showed how "the new Bing" operated in a variety of settings. One of settings allows users to interact directly with the Bing chatbot by asking it questions in a chat interface like ChatGPT, while another mode displays conventional search results alongside AI annotations.

Microsoft demonstrated several sample searches, including looking for travel advice, recipes, and Ikea furnishings. Bing was instructed to "prepare an itinerary for each day of a 5-day trip to Mexico City" in one demonstration. The chatbot provided a complete response, including a general itinerary and providing links to more resources.

The new Bing, unlike ChatGPT, which is limited to information up to the end of 2021, can also find news about recent occurrences. In the demonstrations, the search engine could even respond to inquiries regarding its own launch by identifying news articles that had been posted within the previous hour.

Microsoft says these features are all powered by an upgraded version of GPT 3.5, the AI OpenAI language model that powers ChatGPT. Microsoft calls this the “Prometheus Model,” and says it’s more powerful than GPT 3.5, and better able to answer search queries with up-to-date information and annotated answers.

The new Bing is live today “for desktop limited preview,” but it appears users can only “ask” one of several preset queries and receive the same results each time. There is also a waitlist to sign up for full access in the future.

Microsoft is also introducing "chat" and "compose," two new AI-enhanced services for its Edge browser. They'll be integrated into Edge's sidebar.

While "compose" serves as a writing helper, helping to generate text, from emails to social media postings, depending on a few initial cues, "chat" enables users to summarize the webpage or document they're viewing and ask questions about its contents.

The launch of the new Bing coincides with a flurry of AI activity from rival Google and Microsoft. The popularity of AI text production has skyrocketed since ChatGPT went live on the internet last November. Microsoft is looking to capitalize on this enthusiasm and has already disclosed how this technology would be incorporated across its suite of office applications. Microsoft has a strong partnership with OpenAI, the company that created ChatGPT.

Google, on the other hand, was unprepared for what some consider to be a fundamental shift in how users find information online. The introduction of ChatGPT is said to have set off a "code red" within the search engine behemoth, with founders Larry Page and Sergey Brin—who had been absent—being called in to help deal with what would pose a danger to the company's main source of income.

In an effort to beat Microsoft's launch, Google released on Monday, Bard, its own ChatGPT. The program was referred to as an "experimental conversational AI service" by CEO Sundar Pichai, who said that it was still being evaluated by a few users and will only be made available to a wider audience in the upcoming weeks. We’ll have more on where these technologies are headed in next week’s issue of the newsletter.

One pitfall to using this level of AI is that it will make mistakes and present the misinformation as though it were fact. Microsoft is well aware of this problem and had a warning placed in Bing’s user interface: “Let's study together. AI powers Bing, thus unexpected outcomes and errors are conceivable. Verify the information and provide feedback so we can grow and learn.”
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Finally, there will be other difficulties that haven’t been addressed yet. The income stream that keeps many websites afloat is removed if AI tools like the new Bing collect material from the web without people clicking through to the source. The effectiveness of this new search paradigm will depend on maintaining some of the previous agreements.

ChatGPT was created by the technology company OpenAI. Microsoft is now testing the AI language as an enhancement to its Office suite of products, including Word, Outlook and PowerPoint.

OpenAI has had a lot of press lately given that their AI products ChatGPT and Dall-E 2

For their ability to produce text and images, OpenAI's intuitive technology products, such as ChatGPT and Dall-E 2, have become online sensations. Many people have made assumptions about the ethical and practical use of ChatGPT. Microsoft is attempting to make better use of the company's AI models, though. According to The Information, the business has already updated its autocomplete feature with a version of the OpenAI GPT text-generator model.

Microsoft has been testing GPT AI model functionality in Outlook and PowerPoint. These include tools that enable users to locate Outlook search results in email inboxes using speech-like AI-driven commands rather than keywords. Additionally, AI models for Outlook and Word will propose email responses or offer edits to documents to improve writing abilities. There is no information yet on whether this use will eventually be incorporated into consumer-facing versions of Microsoft Office or if the company is merely exploring the GPT model's potential.
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Microsoft invested $1 billion in OpenAI in 2019, and according to the report, "acquired an exclusive license to the underlying technology behind GPT-3 in 2020," before this practical application of the GPT technology.
Microsoft may aim to integrate the GPT AI model into its Bing search engine besides its Office suite to compete with Google. According to The Verge, this could be the item that is most likely to be released, with a potential release date of March.

Making data-driven decisions is becoming more and more understood by companies in every industry as a requirement for competing today, in the next five years, in the next twenty, and beyond. According to current market research, the worldwide artificial intelligence (AI) market will "increase at a compound annual growth rate (CAGR) of 39.4% to reach $422.37 billion by 2028," driven by the exponential expansion of unstructured data in particular. The era of data overload and AI has arrived, and there is no turning back.
This reality implies that AI can truly sift and handle the deluge of data–not just for big giants like Alphabet, Microsoft, and Meta with their massive R&D departments and tailored AI tools, but for the typical corporation and even some small and medium-sized businesses.

Well-designed AI-based systems quickly filter through enormously vast datasets to produce fresh insights, which fuel fresh sources of income, adding significant value to enterprises. But without the new kid on the block, vector databases, none of the data expansion really becomes operationalized and democratized. Vector DBs represent a paradigm shift in database management and a new category for using the exponential amounts of unstructured data that are currently untapped in object stores. In particular, vector databases provide a mind-numbing new degree of search capacity for unstructured data, but they can also handle semi-structured and even structured data.

Vectors and Search. Unstructured data, which can't be simply sorted into row and column relationships, rarely matches the relational database paradigm. Examples include photos, video, audio, and user actions. Unstructured data management methods that are incredibly time-consuming and unreliable frequently include manually labelling the data (think labels and keywords on video platforms).

The real problem is that human methods make it very hard to perform a semantic search that comprehends the context and meaning of a picture or other unstructured piece of data, in addition to a search query.
Enter embedding vectors, often known as feature vectors, vector embeddings, or just embeddings. They are numerical values, or sort of coordinates, that represent unstructured data features or objects, such as a part of a picture, a section of a person's purchasing history, a few frames from a video, geospatial information, or anything else that doesn't neatly fit into a relational database table. These embeddings enable scalable, snappy “similarity search.”

Quality Data and Insights. An AI model, or more precisely, a machine learning (ML) or deep learning model, trained on very large amounts of high-quality input data, produces embeddings as a computational byproduct. A model is the computational result of an ML algorithm (method or procedure) conducted on data, to further draw crucial distinctions. Sophisticated, widely used algorithms include STEGO for computer vision, CNN for image processing and Google’s BERT for natural language processing. The resulting models turn each single piece of unstructured data into a list of floating-point values—our search-enabling embedding.

Therefore, a neural network model that has been properly trained will produce embeddings that are consistent with particular content and may apply to a semantic similarity search. A vector database, specifically designed to manage embeddings and their unique structure, is the instrument to store, index, and search through these embeddings.

The fact that developers from everywhere may now incorporate a vector database into AI systems, with its production-ready features and lightning-fast unstructured data search, is crucial in the industry.
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Organizationally, a crucial component of standardizing the usage of vector databases is assisting business teams and their leadership in understanding why and how they can benefit. The concept of vector search has been around for quite a while, but only on a very small scale. Many businesses aren't really accustomed to having access to the kind of data mining and search capabilities that contemporary vector databases provide. Teams sometimes struggle with knowing where to begin. Therefore, their creators continue to place a high focus on spreading the word about how they operate and why they are valuable.

A new, highly dangerous malware called “Erbium” has been making the rounds over the last couple of months, and it’s highly likely that it will spread exponentially to new channels.

Erbium is an information-stealing tool that targets passwords, credit card information, cookies, cryptocurrency wallets, and more.

Today, this malware is being shared under the disguise of pirated games and cheats for popular titles. However, because of its nature, it can spread like wildfire, because Erbium is a Malware-as-a-Service (MaaS)—essentially subscription malware.

Initially, Erbium was priced at just $9 per week, but now it’s $100 per month or $1,000 for a year-long license. This pricing is still cheap (it costs about a third of RedLine stealer, according to Bleeping Computer), and it’s getting a lot of praise on lots of hacker forums.

The license they buy entitles threat actors to customer support, updates, and the tool itself, with its rich set of capabilities.

Cyfirma, a threat identification and cyber-intelligence business, made the initial discovery of Erbium after finding the virus discretely tucked away among game cracks.

Erbium may also steal cold cryptocurrency wallets for a variety of cryptocurrencies, including Exodus, Atomic, Bytecoin, Ethereum, and more. Additionally, it can steal 2FA codes from a variety of password and 2FA managers, including Trezor, EOS Authenticator, Authy 2FA, and Authenticator 2FA.

Erbium steals Telegram authentication files, Steam and Discord tokens, and screenshots from each connected monitor. Threat actors are supplied a detailed breakdown of everything that was taken from the victim in real time.

Given how versatile it is, it is likely that someone will ultimately include it into something other than gaming cracks, and at that point, it will probably spread more widely.
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Right now, all you need to do to ensure that you're not at risk is to not download any unlawful downloads (such as cracked games or bots for games). It's also a good idea to be cautious and to use the best antivirus software, keep it updated, and scan every file you download. If you possess cryptocurrency, think about switching from a desktop wallet to a fully offline cold wallet.

The BlackByte ransomware gang appears to have made a comeback after targeting at least three U.S. critical infrastructure sectors, according to an advisory from the FBI and the Secret Service.

BlackByte is a ransomware-as-a-service (RaaS) operation that leases out its ransomware infrastructure to others in return for a percentage of the ransom proceeds. The gang emerged in July 2021 when it began exploiting software vulnerabilities to target corporate victims worldwide. While BlackByte had some initial success—security researchers tracked attacks against manufacturing, healthcare, and construction industries in the U.S., Europe, and Australia—the gang hit a rough patch months later when cybersecurity firm Trustwave released a free decryption tool that allowed BlackByte victims to recover their files for free. The group’s simplistic encryption techniques led some to believe that the ransomware was the work of amateurs; the ransomware downloaded and executed the same key to encrypt files in AES, rather than unique keys for each session.

Despite this setback, it appears the BlackByte operation is back with a vengeance. In an alert posted in mid-February, the FBI and the Secret Service (USSS) warned that the ransomware gang had compromised multiple U.S. and foreign businesses, including “at least” three attacks against U.S. critical infrastructure, notably government facilities, financial services, the food industry, and agriculture.

The advisory, which provides indicators of compromise to help network defenders identify BlackByte intrusions, was released just days before the ransomware gang claimed to have encrypted the network belonging to the San Francisco 49ers. BlackByte disclosed the attack the day before the Super Bowl by leaking a few files it claims to have been stolen.

Brett Callow, a ransomware expert and threat analyst at Emsisoft, says that while BlackByte isn’t the most active RaaS operation, it’s been steadily racking up victims over the past few months. However, he adds that because of recent action by the U.S. government against ransomware actors, the gang might take a cautious approach.

“The FBI and Secret Service advisory states that BlackByte has been deployed in attacks on at least three U.S. critical infrastructure sectors, including government. Interestingly, no such organizations are listed on the gang’s leak site, which could indicate that those organizations paid, that no data was exfiltrated or that BlackByte chose not to release the exfiltrated data,” he said. “That final option is not unlikely: since the arrests of members of REvil, the gangs seem to have become more cautious about releasing data, and especially with U.S. organizations.”

Callow said that while all signs suggest BlackByte is based in Russia, since the ransomware, like REvil, is coded not to encrypt the data of systems that use Russian or Commonwealth of Independent States (CIS) languages. That “shouldn’t be taken to mean the attack was carried out by individuals based in Russia or the CIS.”
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“Affiliates may not be located in the same county as the individuals who run the RaaS,” he added. “They could be based anywhere—including the U.S.”

Here are a few FinTech firms that are emblematic of how technology innovation is shaping the future of money across a variety of financial services.

Versapay—Accounts receivable
In its quest to rid companies of paper checks, Toronto-based Versapay has developed one of the first collaborative accounts receivable platforms, combining advanced invoicing, automation, and payments technology to deliver improvements and efficiencies for its 250,000 business clients. It has mushroomed during the pandemic, which fueled a demand for digital payments, including the digitizing of accounts receivable services. In a recent interview, Versapay CEO Craig O'Neill said a large majority of finance leaders will adopt digitized payments in the next few years. "Surveys show that 93% of finance leaders are saying they're going to digitize how they do business on both the accounts payable and accounts receivable side. There's going to be a sea change over the next couple of years, which will really change the face of business: paper goes away completely, including check stock, and will set people free to work wherever they want," he said.  

BestEgg—Personal lending and financial management resources
This Wilmington, Del.-based FinTech, is on a mission to help people feel more confident about their everyday finances by making money accessible through fast, simple, and easy personal loans. BestEgg has created a proprietary AI platform to deliver digital products including loans for debt consolidation, credit card refinancing, home improvement, moving, vacation and baby adoption. BestEgg recently introduced an online financial health platform to bolster confidence for consumers in the wake of the COVID-19 pandemic, which has had a debilitating effect on many peoples' finances. "The future of digital finance is human," says Sabrina DeVito, chief strategy officer for Marlette Holdings, which operates BestEgg. "Digital can come across as cold, but the winners are going to be those who not only use digital to create extraordinary experiences but also are human in how they come across," she said.

Kabbage—Small business financing
Small businesses took a beating during the coronavirus pandemic—large numbers shut down permanently, crippling local communities both economically and socially. Fortunately, more small businesses are forming in the shadow of the pandemic, and one FinTech is helping to make that possible. Kabbage, backed by American Express, is a one-stop FinTech resource for small businesses, providing access to cash flow solutions such as business checking, flexible funding, and payment processing services. It recently launched Kabbage Funding, which provides flexible lines of credit between $1,000 and $150,000, and Kabbage Checking for online business checking accounts.
"We saw a technology opportunity; a way to use an API to automate serving a business that couldn't have been served previously," said Kathryn Petralia, co-founder of Kabbage. Petralia says what she's seeing with small businesses is that there's more support by many other companies to serve these unserved small businesses. "They're a vital part of the economy—a vital part of job growth and so now we can do that using technology where we couldn't do it before because it was always hard to market to small business. But thanks to the data and these new technology platforms, we can do it," Petralia said.

UpTip—Cashless tipping
This new startup replaces cash tipping with an e-payment platform and enables users to provide ratings on service providers such as wait staff and limousine drivers. Companies are given a QR code after registering with UpTip. Customers scan the code on their smartphone to view the company's profile, give a star rating, leave feedback and, of course, provide a tip. Tips are deposited directly into a debit card or bank account of choice.
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The travel and hospitality industry is still struggling in the wake of COVID and so are the people whose lives and livelihoods have depended on tipping. Eric Plam, UpTip's founder, believes the pandemic has been a catalyst to help people figure out how much they value people who serve them and the services they provide. UpTip will help collect the data used to determine how much service staff are valued. "We really believe that personality, enthusiasm and merit should be rewarded and so this is one reason we enjoy tipping and that's one thing we do with our service and ratings platform—we try to raise people who are doing a great job because we want to help them advance in their careers", Plam said.