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Tag: corona effect

  • Try these Zoom Settings to Protect Your Privacy and Avoid Zoombombing Trolls

    Zoom, a cloud-based meeting platform, is making into headlines almost everyday. The video-conferencing software has been gaining attention from researchers and journalists lately for a number of potential privacy and security issues. The use of the platform has seen a boom in usage due to increase in coronavirus related remote working. One of the biggest security issues facing Zoom is the increase in “Zoombombing” when uninvited attendees break into and disrupt your meeting.

    Zoom is huge these days. The cloud-based meeting platform lets you arrange virtual conferences with video, audio and screen-sharing options. It is a great way to continue conducting business when so many people have to work from home. Ever since rising into popularity, Zoom found itself bombarded by reports of privacy and security issues.

    In the wake of COVID-19, people have rushed to the video chat platform due to stay-at-home orders and lockdown. People are massively using Zoom app as their employer or school requires it and to stay in touch with friends and family. But journalists, researchers and regulators have noticed its many security and privacy problems. Zoom will have to follow its security and privacy promises if it wants to regain users’ trust.

    Government of India has also released the notice eventually regarding controversy-ridden video conferencing platform Zoom. The Ministry of Home Affairs on April 16, put out a detailed two-page long advisory for Zoom users in India and stated that the video conferencing platform Zoom is unsafe. They have also urged people to protect their virtual meetings from Zoombombing phenomenon where pranksters join Zoom calls and broadcast porn or shock videos.

    Zoom has had a rough few weeks. These further led many to quit the platform and cyber security experts to issue advisories. Thankfully, Zoom itself appeared to take matters seriously, roping in key cyber security faces such as ex-Facebook security head Alex Stamos, and more recently Katie Moussouris of the Pentagon bug bounty fame.

    What are Steps being taken by Zoom?

    Zoom is clearly responding quickly to the issues that have been raised. There are still more issues to address and improvements required, but 20 days after Zoom CEO Eric S. Yuan promised changes, we’re now starting to see exactly how Zoom is responding.

    Zoom has released a new Zoom 5.0 update designed to address some of the many complaints that Zoom has faced in recent weeks. With this new update, there’s now a security icon that offers a number of Zoom’s security features. It can be to quickly lock meetings, remove participants, and restrict screen sharing and chatting in meetings.

    Zoom is also now enabling passwords by default for most customers. IT admins can now define the password complexity for Zoom business users. Zoom’s waiting room feature is also now on by default for basic, single-license Pro and education accounts. This feature allows a host to hold participants in a virtual room before they’re allowed into a meeting.

    Zoom is also improving some of its encryption and upgrading to the AES 256-bit GCM encryption standard. It is an improvement for the transmission of meeting data. Business customers can also control which data center regions will handle meeting traffic for their Zoom meetings after concerns were raised that some meetings were being routed through servers in China.

    Read More: Alternatives to Zoom App while Working Remotely

    Steps to be Followed

    After all of these improvements from Zoom, there are certain steps which one needs to follow to ensure privacy and safety from user’s end. In the meantime, one must take these steps to increase the Zoom privacy settings and protect meetings from Zoombombing trolls.

    Change your background

    The space you’re in during a call can expose a lot of information about where you live, your habits, and your hobbies. One can set a virtual background like beach, outer space or anywhere else you can imagine by customizing your background while on Zoom calls.

    One can set a virtual background by following the below steps. For this,  go to Settings > Virtual Background and select or upload the image you want from there. However, you do have to make sure that your system meets all of the requirements to do so.

    Zoom Virtual Background
    One must Set Virtual Background Image

    Make Sure Chat Auto-Saving Is Off

    Zoom has a feature that saves the chat automatically. One must check if Auto saving is ON or OFF. In your Zoom account settings, under In Meeting, make sure Auto saving chats is toggled off to the left.

    Mute your Audio and Turn off your Camera by default

    In most of the meetings, not everyone needs to have their camera ON. While scheduling a meeting, host can mute audio and camera buttons by default. To do it, go to Settings > Audio > Mute microphone when joining a meeting, and then Settings > Video > Turn off my video when joining or hosting a meeting.

    Lock Down Screen Sharing

    In your Zoom account settings under In Meeting (Basic), set Screen sharing to Host Only. This means, when you are hosting a meeting, only you(host) can share their screen. No other meeting participants will be able to share their screen.

    Depending on the calls you plan to host, you can also turn screen sharing off entirely by toggling it off to the left.

    Make Sure Attention Tracking is Off

    In your Zoom account settings under In Meeting (Advanced), make sure Attention tracking is toggled off to the left. The attention tracking setting toggled off to the left

    Keep the Meeting ID Private

    One of the reasons why privacy issues arose is that many people posted the meeting link on their social media groups. Thus, whenever possible, do not post the link to your meeting or the meeting ID publicly. Send it directly to trusted people and groups instead.

    After Zoom’s most recent update, meeting passwords are now on by default for free Basic and single licensed Pro accounts as well as education accounts. But Zoom passwords can behave in unexpected ways. If you use the “Copy Invitation” functionality to copy the meeting link and send it to your participants, that link might include your meeting password.

    If you send the meeting link directly to trusted participants, having the password included in the link will be no problem. But if you post the meeting link in a Facebook group, on Twitter or in another public space, then it means the password itself will also be public. So while copying the invitation link, passwords must be deleted to have privacy. It advisable to set a password and inspect the Meeting Link carefully before sending the link.

    To find the password settings, go to your Zoom account settings under Schedule Meeting. Make sure Require a password when scheduling new meetings is toggled on to the right. You’ll find additional password options in this area of the settings as well.

    Use Waiting Rooms to Approve Participants

    This is the best way to monitor who joins the meeting. After Zoom’s most recent update, waiting rooms are now enabled by default. A waiting room allows hosts to screen new participants before letting them join which can help prevent disruptions or unexpected participants.

    To find this setting, go to your Zoom account settings > In Meeting (Advanced). Make sure Waiting room is toggled on to the right.

    Also Read: Best Webinar Platforms

    Lock the Meeting

    Last but not the least, this feature has to be used. When everyone has joined the meeting and all your expected participants have arrived, you can lock the meeting to prevent anyone else from joining. For this, at the bottom of the Zoom window, click Participants and select Lock Meeting.

  • 14 Founders Shared Opinions on how Industry and Customer Behavior will Change after Coronavirus Fight

    Covid-19, which has shaken the whole world has brought everyone’s life at halt. This highly contagious disease is spreading so fast that Indian Government has ordered 1.3 billion residents to stay home. In this lockdown period, all malls, theaters, companies, shops, restaurants, manufacturing units are shut. This will affect businesses and economy badly. Many companies have told their employees to work from home. But, its not possible for all companies like manufacturing units, theaters, malls to let their employees work from home.

    People are also scared of going out. This coronavirus has made people’s lifestyle slow and it will take time for everyone including companies to come back on track after this long period of lock down. COVID-19 has put slowdown to a business everywhere. Travel, Hotel, Events, and Entertainment are the sectors that are suffering. But on the other hand, other sectors such as eCommerce, EduTech have benefited immensely.

    How Industry and Customer Behavior will Change after Coronavirus Fight? 

    We have asked few companies about changes in industry and customer behavior with respect to their company after this coronavirus outbreak.  

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    Rising Sun

    Pooja Nagdev, Founder and CEO

    At this time people have become more aware and going back to the basics. I see that with respect to FMCG ethical labelling will be enforced and people will more watchful of the ingredients they are consuming. The trend for natural and organic care will be the rise.

    Indi Collage

    Anuradha Singh

    At the moment people are more inclined towards online shopping but once the epidemic comes under control we expect to see more of experience based buying & shopping as a social interaction

    Tres’Chic Academe

    Chitra Balasubramaniam, CEO

    Since we operate online most of the time doing business the customer satisfaction is high & this corona virus situation has made us realise our step taking our business online earlier & given us good dividends by doing so.

    CASA EXOTIQUE

    Bhawana Bhatnagar, Interior Stylist, Founder

    There is no denying that business has taken a real hit because of the spread of this menacing disease. Many business firms are closing their stores, and numerous art and design fairs have been either canceled, postponed, or their upcoming plans have been modified. Moreover, due to the hindrance brought about in the global business, overseas procurement has become impossible. Due to this, the supply chain is going to be affected and this will change the dynamics of business. Customers are looking at products customized for them, made locally by us.

    MyStarHub

    Swapnil Mahajan, Founder & CEO

    Well, we are already experiencing a shift from traditional gifts to personalized online gifting due to the digital revolution. With isolation being the key preventive measure in checking the spread of Coronavirus, digital gifting solutions will certainly get a boost.

    While celebrations have been put on hold and people are staying indoors, getting a personalized video message from one’s favorite star on a special occasion will be a unique gift to cast off gloom in the environment and bring some cheerful moments to make the day memorable. Especially in the current scenario, being able to send and receive these celebrity video shoutouts that too without any fear of being exposed to the virus will gain popularity to keep the celebratory spirit on.

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    Team Pumpkin

    Ranjeet Kumar, Co-founder

    Just like every other industry, the digital media and advertising sector is also strongly impacted by the virus outbreak. Since consumers are locking themselves indoors to stay safe and social distancing has become the norm of the day, there is a likely boost expected in the consumption of content online. Internet penetration has already taken B2C marketing online, the isolation mandate due to COVID-19 will now de-popularize out-of-home advertisement and also lead B2B ad turn towards digital.

    As people keep avoiding social gatherings and public places, they eventually would rely more on social media and therefore, the digital media consumption will increase significantly. Social networking platforms will shine even brighter during the need to stay connected and access content. And above all, digital marketing will provide immense opportunities for businesses to create leads without traveling and having any face-to-face interactions.

    Ozonetel

    Chaitanya Chokkareddy, Co-founder & Chief Innovative Officer

    We are already seeing many companies curious to understand how the work from home model can work for their industry. We have executed Work From Home facility for Acko General within a quick time span. We do think this might act as a point where companies start thinking about their backup for remote functioning.

    Dineout

    Ankit Mehrotra, Co-founder & CEO

    The pandemic has severely affected our operations and we’re seeing a heavy downfall in demand of our services at the moment. Social gathering is the key to our industry, while social distancing is the key to fighting this virus today and we’re strongly promoting it on all our platforms.  

    While we are not sure of the full consequences of the ongoing crises, this is certainly going to affect consumer behaviour as far as the F&B industry is concerned. Consumers will take some time to gain the confidence to go out again. The key is to provide for the safety and confidence for our diners once the pandemic subsides. We need to go above and beyond to make customers feel safe and engaging with them over the topic. A slew of measures can be taken as per the protocol prescribed by the Health Ministry, including increased access to hand sanitizers and hygiene procedures, body temperature checks for everyone at the premises, etc.

    Meanwhile, we stand strong with our partners and are hopeful and positive for the betterment of the situation. We shall be ready with the help of technology to help serve both our diners and restaurants stronger and better than ever.

    Packman Packaging

    Gaurav Jalan, Director and Founder

    It is too early to say currently, the industry is still operating as much as it can. But if it becomes a prolonged situation then there might be some issues but they will be temporary not permanent.

    There might be a possibilities that sales of packaging materials may dip a bit because of several advisory such as not going outside a designated territory in that case several businesses that uses packaging materials will be affected.

    One may also see rise in online sales that may still boost the packaging industry as it will open an avenue for supplying their products to several e-business platforms.

    For Packman, their customers are the assets so it will ensure that it can continue its services to its clients and customers. In general one should be prepared and monitor where the company and industry will go in these tumultous times. Customers also understand what is going on so we are sure that our customer will still view us in the same light as they do.

    Bridged.co

    Ashwin Chalam, CEO

    We expect potential and present clients to become conservative with their expenses. Businesses will not be looking to experiment much (with good reason) and will only want to work with teams that have a proven track record and can satisfy critical requirements.

    The coronavirus outbreak doesn’t change the fact that businesses are in the information age, and they will need access to high-quality data. Bridged’s USP is that we provide businesses across industries (primarily AI/ML and financial services) with a cost-effective and scalable data solution. During these trying times, we will leverage that.

    Zolostays

    Dr. Nikhil Sikri, CEO & Co-Founder

    With respect to the co-living space that we operate in, we will most likely see a decline in the number of bookings as this is a pandemic situation which has been declared by the World Health Organization and social distancing is the need of the hour. However, we do have single room occupancy which could also have higher response rate for our prospective customers and existing residents to shift into.

    CarveNiche

    Avneet Makkar, Founder & CEO

    The online education market is expected to grow at a compounded annual growth rate (CAGR) of around 44% between financial years 2019 and 2024, these trends are expected to disrupt the industry going forward. Keeping current trends in mind, ed-tech services will offer immersive and industry-specific learning across larger groups. Online learning and personalization of education will garner prime importance.

    ZEUX Innovation

    Hemal Gathani, Co-founder

    Post the COVID pandemic, we will see the world becoming even flatter. COVID will teach people how to work remotely. And companies would want to take advantage of the best available talent from across the globe at the right price with the location not being a factor.

    We will also see a surge in spending on digital initiatives. Industries would want to digitize everything possible. But going digital won’t be a differentiating factor and won’t necessarily lead them to success. Companies that provide the best user experience on digital channels will take a lead.

    This is the time to invest in enabling best in class user experience as not only businesses will be compelled to go digital but there will be a massive shift in user behavior to do more things online.

    Tjori

    Mansi Gupta, Founder & CEO

    The most important thing is to inform the customers about the exact reality of the scenario and give guarantees and assurances about the safe guarding of their money and products. Nobody loses anything because of this and all people need to realise that we are just at a halt for the next 21 days’ post which all activities would resume better than normal.

    The pre planning done at any situation always help the company and we are also banking on ours, but at this unforeseen times we solve every problem as it comes. Through this platform I wish to advice people to stay indoors and safe.

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  • Coronavirus Impact on Digital Payments Startups

    Coronavirus is here, and it’s making a big impact on every aspect of business. From trade market swings to airline collapses, the economy of many industries is taking its toll and having major constraints. Whole worldwide especially in Europe, those living in Italy, Spain, Germany and France have been the most impacted so far and the situation is set to worsen. The indirect effects for startups have also been huge, but some businesses are faring better than others. While many struggle to operate amid travel turmoil, others are cashing in on the health crisis by supplying much-needed medical solutions. Some London founders even launched an entirely new startup (called Epiderm) this year to help track employee and visitor contact through check-ins and calendar analysis. Similarly, there are clearly dozens of sectors that will likely be impacted such as dating apps, concert booking apps, edtech, will-writing startups, fitness apps, remote working tools and recruiting startups and so on.Here we discussed about impact of Coronavirus on Fintech Startups.

    What about the sector of fintech?

    Like everything else, it’s also likely to be under threat. There’s more to come from COVID-19 in the coming weeks where large and small fintech companies take a hit. Some could even benefit. Fintech firms globally also have already benefited from more flexible regulations in both emerging and mature countries as many efforts are being made to improve financial inclusion and serve a broader digital economy. According to a report from Ecosystem, there were five key trends that were expected to shape the Fintech market during 2020. The coronavirus pandemic could be devastating for many companies, but it’s also shining a spotlight on the power of fintechs across the world. They seem to be responding to the sudden challenge effectively, though uncertainties lie ahead.

    Negative Impacts of Consumer Spending

    Fear, panic, and quarantine measure heavily impact consumer spending. Canceled flights, closed stores, and social distancing have resulted into a drop in transaction volume at all levels of the economy. This means FinTech firms in the payments sector like Paypal, PhonePe, Google Pay, Stripe, or Chime will collect fewer fees, negatively impacting their profitability and valuations. Hardware shortages could also impact firms like Square, that rely on digital devices to support transaction processing. It’s evident that large businesses are already feeling the heat with the coronavirus outbreak. Companies such as Mastercard and Visa have cut their predictions for revenue due to the scare. This is because many users of credit cards are unlikely to use it to purchase flights, which is one of the more common transactions for credit card use.

    The impact of the coronavirus outbreak is impacting both financial markets and consumer behavior as never before. At least in the short term, there has been a significant flight to safer investments by consumers, which could negatively impact venture capital funding of existing and new fintech firms. Combined with investors concerned with higher funding costs, the volatile market could be a catalyst for lower valuations. This potential drying up of financing to non-traditional financial services firms could force many firms to find collaboration or investment partners from traditional banking organizations. Some early-stage fintech firms may need to shut down.

    Chinese fintechs will likely face the worst negative impact from the virus. Funding for Chinese fintechs was already down in 2019, likely due in part to trade tensions between the US and China. In 2019, fintechs only secured $298 million, down from $1.8 billion during the same time the year before. Having originated in Wuhan, China, the coronavirus is making the country’s economic outlook particularly uncertain, and more investors may shy away from the market as a result. That means Chinese fintechs might need to prepare for an even less funding-friendly environment in 2020 and shift their focus to a sustainable business model.

    Positive Impacts

    Whilst we’ve seen many negative impacts recorded in the fintech sector, there is a bright side in which some companies benefiting from. It’s encouraged many companies to adopt fintech for the purpose of their business. For example, the Banking and Insurance Regulatory Commissions company Ye Yanfei explained that blockchain is being utilised for medical data verification. Similarly, consumers desire for digital banking services will most likely increase, forcing many traditional financial institutions to fast-track digital innovation efforts. As a result, many legacy banks and credit unions may look to fintech firms or startups for assistance in bringing better digital banking solutions to the marketplace during this crisis. This increase in demand for digital solutions could provide a lifeline to fintech firms at a time when VC funding may not be an option.

    In addition, weakening economies may force government organizations and regulators to stimulate the expansion of fintech solutions. For instance, South Korea is planning to temporarily ease regulations on fintech and ten other industries in March, in an attempt to jumpstart its economy amid the coronavirus outbreak. The World Health Organization has also encouraged contactless payments to contain the spread of COVID-19. Moreover, Google Trends shows a significant spike in the search requests regarding online loans which is a good news for many fintech firms.

    Governments are appealing for Cashless Payment

    Many countries are also encouraging the use of contactless payment to prevent the spreading of the virus any further from the exchanging of money. To ensure safety of citizens amid the coronavirus outbreak, the Reserve Bank of India (RBI) governor, Shaktikanta Das, asked customers to use digital banking facilities as far as possible. Das added, “In the context of COVID 19, RBI and the government together are giving emphasis on encouraging digital payments. And over a period of time, various measures have already been taken to establish safe, secure, stable and affordable retail payment system such as the National Electronic Fund Transfer (NEFT) and the Immediate Payment Service (IMPS).” In South Korea, where regulations were once considered rather strict in the fintech domain, they’re now willing to ease the regulations that they have. This is to lessen the impact of the virus spreading and having a larger impact on the economy.

    Reserve Bank of India(RBI) has appealed people to use Contactless Payment 

    It could boost demand for certain insurance types. The virus’ dominance in headlines may increase awareness of insurance and boost demand for health and life coverage, as well as business interruption and event cancellation coverage. For instance, the outbreak has led to many conferences and events being cancelled at the last minute. At the same time, insurers are not supposed to pay over claims of this outbreak. Most travel insurers, for example, exclude pandemic, epidemic disease or infectious diseases from their coverages, meaning that likely only few will be affected by the virus. A report has revealed India has shown a moderate increase of 7 % when it comes to availing online financial services during this period of social distancing.

    21-day Lockdown to promote Digital Payment

    India is currently going through a 21-day lockdown that was imposed by Narendra Modi-led central government, as part of its plan to battle the novel coronavirus COVID-19. Several prominent names in the Indian startup ecosystem have also been promoting digital payments. There are various digital payment channels people can use instead of transacting via cash. Digital payments channels include NEFT, IMPS, UPI, etc. Razorpay’s report highlighted that UPI, internet banking and wallet payments have all grown in India because of quarantine and social distancing. Surprisingly, Delhi and Bengaluru have noted a decline in digital payment but this is just a matter of time. Soon, digital payment will see a boom across all cities due to lockdown. So, this is a good opportunity for all fintech firms and startups to flourish.