Latest news with #softwarecompanies
Fast Company
01-07-2025
- Business
- Fast Company
Why embedded fintech will help small businesses grow
In today's unpredictable economy, more small and mid-sized businesses (SMBs) are feeling tight on time, resources, and bandwidth. Having the right tech in place can help; the past decade has seen an explosion of technology helping small businesses. The downside is that small businesses often need to juggle their data and attention between multiple apps, which is frustrating and expensive. Recent studies show 70% prefer comprehensive, all-in-one solutions that keep everything in one place. But where are these all-in-ones? Software companies have been struggling to create the ambitious 'all-in-one' package because of the costs of building and supporting different types of software (e.g. invoicing, bill pay, accepting payments, accounting, customer marketing, payroll, and more). That's where the embedded fintech model comes in. More tech companies are now working together to build better experiences, rather than going it alone. With embedded fintech, platforms can embed their tech into software and customize it to fit their audience. Embedded solutions often include APIs and customizable user flows, but also support and go-to-market components. As a result, platforms can launch new products and businesses, backed by the deep expertise of their embedded partners. The embedded fintech opportunity The embedded finance market is booming, currently valued at $185 billion and projected to reach $320 billion by 2030, with SMBs accounting for half of that growth. More than 60% of SMBs want embedded financial services that simplify payment processes; 50% of these businesses believe the solutions can provide valuable payment data and insights to improve their operations. Tech companies that successfully partner with others to offer SMBs tailored, embedded fintech options are tapping into a significant and often overlooked market. Over the past few years, we've partnered with dozens of tech companies like Xero, Lattice, and Collective, and financial institutions, like Chase Payment Solutions and U.S. Bank. Through the technology on our platform, Gusto Embedded, we help them offer payroll directly within their own platforms to their SMB customers. This gives SMBs the chance to access more of their operations on one platform, so they can handle their finances and run payroll all in the same place, using just one login. Five things to consider By helping partners build customizable payroll solutions, we've learned a lot about how to make embedded fintech solutions truly work for SMBs' needs. For tech companies seeking to dive into embedded fintech to better serve SMBs, here are five key things to consider: Assess when to partner, and when to build it yourself: You should invest your R&D resources on your core differentiation and what makes you special in the eyes of your customers. Outside of this, consider testing demand with qualitative and quantitative user research as well as a referral partnership. When demand is sufficiently validated, focus on owning the user experience pieces that are unique to your platform, and outsource the rest to a partner. Another approach is a crawl-walk-run approach, where you start with a referral partnership and a light integration before 'graduating' to an embedded or a white-label solution. Align leadership for success: If you decide to pursue an embedded partnership, ensure that your business and product leaders are on the same page with your partner's leaders. Ensure everyone has bought into the product development process, the launch strategy, and customer support for the new product. This is vital for a successful rollout and for the best possible experience for your customers. Customization is key: Tailor embedded fintech experiences to be fit-for-purpose rather than relying on generic features. A recent example of this was our partnership with Vagaro. We worked closely with Vagaro to develop an embedded payroll solution catering to the complex wage structures of its customers—primarily salon, spa, and fitness businesses. Taking this approach cut the time spent on payroll processing in half and significantly increased user adoption. Take a thoughtful approach to rollout: Avoid the 'build it and they will come' mentality. A lot of tech companies fall into the trap of building great software, while neglecting to create a strategic go-to-market approach. Ask potential partners how they can assist in promoting the solution to your mutual customers. Do they understand your customers' needs? How can you work together to clearly communicate and educate customers on the new product? Build trust before launching: The pressure to quickly introduce new products can be intense, but it's essential to innovate responsibly. Ensure the end-to-end experience is polished for your initial customers before expanding to a broader audience. In the fintech industry, trust is paramount, and a poor experience can jeopardize customer relationships. For SMBs, the path to growth in an increasingly complex and competitive landscape lies in embracing new technology, particularly through embedded fintech. It will be essential for tech companies to listen closely to the needs of small businesses and develop tailored products that address their most pressing concerns. Partnering with others can speed up that process and help meet SMBs' needs faster. When your SMB clients succeed, you can unlock new growth opportunities, while helping SMBs thrive in a digital economy demanding constant agility and adaptability.
CNET
09-05-2025
- CNET
Does Antivirus Software Collect Your Data?
We count on antivirus software to keep our devices and personal data safe from cyber threats. But some of that software may be collecting data about you while it protects you. That's the concern raised in a 2023 report by AV-Comparatives, an independent testing lab that evaluated how 20 of the most popular antivirus programs handle user data. The study looked at what data these products collect, how much control users have over it, and whether that data is shared with third parties. It also considered how easy companies' data policies are to understand and how transparent they are about these policies. The takeaway? Antivirus tools do their job, but many gather more data than most people realize. Here's what you need to know. Read more: Best Antivirus Software for Maximum Protection in 2025 What data is my antivirus software collecting? Antivirus software must know some things about your system to keep it safe. But in many cases, it collects more information than it needs. The AV-Comparatives report found that most antivirus programs gather a mix of system info, network details, user data and file-related information. That includes basics like your operating system version, how much RAM you have, your CPU type and even your computer's name. Some go further, collecting BIOS info, a list of installed apps, or details about running processes. They also pull in network data, such as your local and external IP addresses, DNS server and network name. This helps them spot potential threats, but it also gives them a clear picture of where and how you connect. User data is where things start to feel more personal. About half of the products in the study send your Windows username to the company. Depending on your setup, that could be your full name. Time zone, language and general location info are also collected. And if your antivirus includes web protection, it might track every URL you visit, the previous URL you came from and the site's IP address. Then there's the stuff on your computer. Antivirus software often uploads file names, locations and hashes when scanning something suspicious. But in some cases, it also sends entire files -- including harmless ones like documents -- without asking first. That could be a problem. Is my antivirus software sharing my data with others? Let's say your antivirus software collected your data for legitimate reasons. What it does with that data matters. According to the AV-Comparatives report, some antivirus companies are pretty responsible when it comes to how they handle your data. Others, not so much. F-Secure, G Data and K7 were among the top performers when it comes to data collection and sharing practises. Norton, Panda and McAfee, however, scored poorly for how they share user data. AV-Comparatives Now, to be fair, not all data sharing is bad. Some of it helps improve malware detection. For example, many antivirus programs send suspicious files or file hashes to services like VirusTotal, where different security companies work together to identify threats. That kind of collaboration makes sense and helps keep everyone safer. But not every company draws the line in the right place. AVG, which was later acquired by Avast, collected users' browsing history and sold it to third-party advertisers. The FTC eventually banned Avast in June 2024 from selling or licensing users' web-browsing data and fined it $16.5 million. Not exactly the kind of behavior you want from software that's supposed to be guarding your privacy. Some antivirus tools are clearer than others about what's going on behind the scenes. If privacy matters to you, it's worth digging into these details before hitting install. How can I stop my antivirus software from collecting and sharing my data? In a perfect world, antivirus software would only collect and share data that was absolutely necessary. Since that's not the world we live in, you'll need to be proactive in protecting yourself. Here's how. Go into your settings Most antivirus programs have options tucked away in their menus that let you opt out of things like: Usage tracking Cloud analysis Uploading suspicious files Logging the websites you visit These features are often turned on by default, so it's worth spending a couple of minutes poking around and turning off anything you don't want running in the background. If you're not sure what's being shared right now, you can always disable the antivirus first and review the options later. Slow down when installing Many people fly through the software setup process without realizing they're agreeing to send all kinds of data. Look for any checkboxes related to product improvement or data sharing and uncheck them if you'd rather not participate. Avoid free antivirus software Free antivirus tools can be tempting, but they need to make money somehow. That sometimes means collecting and selling user data. If you care about privacy, it's usually safer to go with a paid version from a vendor that's more upfront about how it handles your info. Pick a privacy-conscious vendor In the AV-Comparatives report, F-Secure, ESET and G Data all scored well for how they handle and share data. Avoid the software that didn't do so well. Actually read the privacy policy Yeah, we know. It's not the most fun thing to read, but the privacy policy and end-user license agreement will usually tell you what kind of data is collected and what the company does with it. Some vendors even have simplified versions or FAQs that make things easier to understand. Here are a few you can check out: Should I be worried about having antivirus software installed for security reasons? It's fair to worry about how much data antivirus software collects, but that doesn't mean you should ditch it altogether. Antivirus is still one of the most important tools you can have to protect yourself from malware, phishing attacks and all the other junk floating around online. Yes, some programs grab more data than they probably need, but most use it to improve security, not to spy on you. The key is picking antivirus software that's upfront about what it collects and gives you some control over it. Plenty of great options offer solid protection without going overboard on data collection. So yes, it's smart to be cautious, but going without antivirus software leaves you way more exposed than using a well-reviewed one that respects your privacy.
