Tech Bytes to Know this Week: 9.9.2016

September 9th, 2016

Topics: Global Marketing / Sales Risk Management

New Form of Identity Theft Emerges at Wells Fargo – The mess at Wells Fargo should be called what it is, identity theft by a corporation of its customers. The company has stated, ““Wells Fargo is committed to putting our customers’ interests first 100 percent of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request.” By claiming the issue was customers receiving products they didn’t want, Wells Fargo is attempting to make the issue seem clerical. It’s not. A good way to remedy the situation for customers would be for Wells Fargo to acknowledge that 5,300 of its employees conspired to commit identity theft on a massive scale. Until then, claiming to be customer centric is just PR.

Read More: Wells Fargo Fined $185 Million for Creating 2 Million Fake Bank Accounts
Read More: CFPBureau Fines Wells Fargo $100 Million for Widespread Illegal Practice of Secretly Opening Unauthorized Accounts
Read More: Wells Fargo Fined $185 Million for Fraudulently Opening Accounts

Television Under Fire Around the Globe – Eight years ago former Time Warner Cable Chairman and CEO, Glenn Britt T’72, noted at a CDS panel discussion that “People would like to get their video content whenever they want it on any device they happen to choose and wherever they happen to be.”. Two new initiatives are likely to speed up that transition. The first is an announcement by the FCC that all cable providers with five million customers must make their content available via apps open to a wide range of technology platforms, such as Android or iOS. That move could effectively kill the cable box as a platform. Issues with internet traffic and video compression will need to be addressed, but if the rule is adopted it will have huge effects on the way television is consumed.

Separately this week, Indian telecom Reliance Jio announced the world’s cheapest data plan, which includes a huge array of apps and services, from mobile payments to JioTV, a streaming television service. The plan was so popular stores ran out of SIM cards in just a few hours and the company now has a waiting list for new customers.

Read More: The Government’s Top TV Regulator Just Announced Plans to Free You From Your Cable Box
Read More: FCC Scraps Its Ambitious Cable Box Plan in Favor of Apps
Read More: Even Super Slow Internet Couldn’t Prevent the Enormous Disruption in Indian Television – and Now we have Reliance Jio
Read More: Reliance Jio Rocks Indian Telecom with Cheap Data and Free Voice

First Ever CISO Appointed for Federal Government – President Obama took the bold step to appoint the nation’s first Chief Information Security Officer (CISO) yesterday. The timing is likely related to a report released Wednesday by the House of Representatives that found a 2014-2015 OPM security breach could and should have been prevented. The OPM data breach was the worst in federal government history and demonstrated the need for better coordination of cybersecurity efforts across the government. The creation of a federal CISO is a good step in building an environment of deterrence and detection of hacks of government systems.

Read More: Announcing the First Federal Chief Information Security Officer
Read More: White House Appoints First Federal Chief Information Security Officer
Read More: Congressional Report Highlights Missed Opportunities to Avert OPM Cyber-attack

Apple’s Ability to Eat Entire Industries with Its Technology Continues – When Apple held its annual event releasing new hardware and software this year, it released sales figures on the Apple Watch. While it’s interesting that the watch is the best-selling smartwatch in the industry, it was downright shocking to see how its sales stacked up against traditional watch makers, such as Rolex, Omega, Fossil and Seiko on total revenue. The Apple Watch now trails only Rolex in total sales, demonstrating how the team in Cupertino continues to gobble up industries. The latest appears to be luxury watch makers.

Read More: The Swiss Watch Industry is Doomed
Read More: Tim Cook: Apple is the No.2 Watchmaker in the World (Behind Rolex)

Featured CXOTalk Video of the Week: Episode 154: Marketing Leadership at $23B Arrow Electronics, with Rich Kylberg, CMO

Arrow Electronics, an 80-year old, Fortune 150 corporation with offices in 58 countries and revenue of $23 billion. On this show, we explore the marketing behind this large company with Chief Marketing Officer, Rich Kylberg.

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