Recherche avancée

Sur d’autres sites (7911)

• Open Banking Security 101 : Is open banking safe ?

  3 décembre 2024, par Daniel Crough — Banking and Financial Services

  Open banking is changing the financial industry. Statista reports that open banking transactions hit $57 billion worldwide in 2023 and will likely reach $330 billion by 2027. According to ACI, global real-time payment (RTP) transactions are expected to exceed $575 billion by 2028.

  Open banking is changing how banking works, but is it safe ? And what are the data privacy and security implications for global financial service providers ?

  This post explains the essentials of open banking security and addresses critical data protection and compliance questions. We’ll explore how a privacy-first approach to data analytics can help you meet regulatory requirements, build customer trust and ultimately thrive in the open banking market while offering innovative financial products.

   

  

  

  EU Financial Services Analytics Maturity Report

  Discover trends, strategies, and opportunities to balance compliance and competitiveness.

  Download the report now

  What is open banking ?

  Open banking is a system that connects banks, authorised third-party providers and technology, empowering customers to securely share their financial data with other companies. At the same time, it unlocks access to more innovative and personalised financial products and services like spend management solutions, tailored budgeting apps and more convenient payment gateways. 

  With open banking, consumers have greater choice and control over their financial data, ultimately fostering a more competitive financial industry, supporting technological innovation and paving the way for a more customer-centric financial future.

  Imagine offering your clients a service that analyses spending habits across all accounts — no matter the institution — and automatically finds ways to save them money. Envision providing personalised financial advice tailored to individual needs or enabling customers to apply for a mortgage with just a few taps on their phone. That’s the power of open banking.

  Embracing this technology is an opportunity for banks and fintech companies to build new solutions for customers who are eager for a more transparent and personalised digital experience.

  How is open banking different from traditional banking ?

  In traditional banking, consumers’ financial data is locked away and siloed within each bank’s systems, accessible only to the bank and the account holder. While account holders could manually aggregate and share this data, the process is cumbersome and prone to errors.

  With open banking, users can choose what data to share and with whom, allowing trusted third-party providers to access their financial information directly from the source. 

  

  How does open banking work ?

  The technology that makes open banking possible is the application programming interface (API). Think of banking APIs as digital translators for different software systems ; instead of translating languages, they translate data and code.

  The bank creates and publishes APIs that provide secure access to specific types of customer data, like credit card transaction history and account balances. The open banking API acts like a friendly librarian, ready to assist apps in accessing the information they need in a secure and organised way.

  Third-party providers, like fintech companies, use these APIs to build their applications and services. Some tech companies also act as intermediaries between fintechs and banks to simplify connections to multiple APIs simultaneously.

  For example, banks like BBVA (Spain) and Capital One (USA) offer secure API platforms. Fintechs like Plaid and TrueLayer use those banking APIs as a bridge to users’ financial data. This bridge gives other service providers like Venmo, Robinhood and Coinbase access to customer data, allowing them to offer new payment gateways and investment tools that traditional banks don’t provide.

  Is open banking safe for global financial services ?

  Yes, open banking is designed from the ground up to be safe for global financial services.

  Open banking doesn’t make customer financial data publicly available. Instead, it uses a secure, regulated framework for sharing information. This framework relies on strong security measures and regulatory oversight to protect user data and ensure responsible access by authorised third-party providers.

  In the following sections, we’ll explore the key security features and banking regulations that make this technology safe and reliable.

  Regulatory compliance in open banking

  Regulatory oversight is a cornerstone of open banking security.

  In the UK and the EU, strict regulations govern how companies access and use customer data. The revised Payment Services Directive (PSD2) in Europe mandates strong customer authentication and secure communication, promoting a high level of security for open banking services.

  To offer open banking services, companies must register with their respective regulatory bodies and comply with all applicable data protection laws.

  For example, third-party service providers in the UK must be authorised by the Financial Conduct Authority (FCA) and listed on the Financial Services Register. Depending on the service they provide, they must get an Account Information Service Provider (AISP) or a Payment Initiation Service Provider (PISP) license.

  Similar regulations and registries exist across Europe, enforced by the European National Competent Authority, like BaFin in Germany and the ACPR in France.

  In the United States, open banking providers don’t require a special federal license. However, this will soon change, as the U.S. Consumer Financial Protection Bureau (CFPB) unveiled a series of rules on 22 October 2024 to establish a regulatory framework for open banking.

  These regulations ensure that only trusted providers can participate in the open banking ecosystem. Anyone can check if a company is a trusted provider on public databases like the Regulated Providers registry on openbanking.org.uk. While being registered doesn’t guarantee fair play, it adds a layer of safety for consumers and banks.

  Key open banking security features that make it safe for global financial services

  Open banking is built on a foundation of solid security measures. Let’s explore five key features that make it safe and reliable for financial institutions and their customers.

  

  Strong Customer Authentication (SCA)

  Strong Customer Authentication (SCA) is a security principle that protects against unauthorised access to user financial data. It’s a regulated and legally required form of multi-factor authentication (MFA) within the European Economic Area.

  SCA mandates that users verify their identity using at least two of the following three factors :

  • Something they know (a password, PIN, security question, etc.)
  • Something they have (a mobile phone, a hardware token or a bank card)
  • Something they are (a fingerprint, facial recognition or voice recognition)

  This type of authentication helps reduce the risk of fraud and unauthorised transactions.

  API security

  PSD2 regulations mandate that banks provide open APIs, giving consumers the right to use any third-party service provider for their online banking services. According to McKinsey research, this has led to a surge in API adoption within the banking sector, with the largest banks allocating 14% of their IT budget to APIs. 

  To ensure API security, banks and financial service providers implement several measures, including :

  • API gateways, which act as a central point of control for all API traffic, enforcing security policies and preventing unauthorised access
  • API keys and tokens to authenticate and authorise API requests (the equivalent of a library card for apps)
  • Rate limiting to prevent denial-of-service attacks by limiting the number of requests a third-party application can make within a specific timeframe
  • Regular security audits and penetration testing to identify and address potential vulnerabilities in the API infrastructure

  Data minimisation and purpose limitation

  Data minimisation and purpose limitation are fundamental principles of data protection that contribute significantly to open banking safety.

  Data minimisation means third parties will collect and process only the data necessary to provide their service. Purpose limitation requires them to use the collected data only for its original purpose.

  For example, a budgeting app that helps users track their spending only needs access to transaction history and account balances. It doesn’t need access to the user’s full transaction details, investment portfolio or loan applications.

  Limiting the data collected from individual banks significantly reduces the risk of potential misuse or exposure in a data breach.

  Encryption

  Encryption is a security method that protects data in transit and at rest. It scrambles data into an unreadable format, making it useless to anyone without the decryption key.

  In open banking, encryption protects users’ data as it travels between the bank and the third-party provider’s systems via the API. It also protects data stored on the bank’s and the provider’s servers. Encryption ensures that even if a breach occurs, user data remains confidential.

  Explicit consent

  In open banking, before a third-party provider can access user data, it must first inform the user what data it will pull and why. The customer must then give their explicit consent to the third party collecting and processing that data.

  This transparency and control are essential for building trust and ensuring customers feel safe using third-party services.

  But beyond that, from the bank’s perspective, explicit customer consent is also vital for compliance with GDPR and other data protection regulations. It can also help limit the bank’s liability in case of a data breach.

  Explicit consent goes beyond sharing financial data. It’s also part of new data privacy regulations around tracking user behaviour online. This is where an ethical web analytics solution like Matomo can be invaluable. Matomo fully complies with some of the world’s strictest privacy regulations, like GDPR, lGPD and HIPAA. With Matomo, you get peace of mind knowing you can continue gathering valuable insights to improve your services and user experience while respecting user privacy and adhering to regulations.

  Risks of open banking for global financial services

  While open banking offers significant benefits, it’s crucial to acknowledge the associated risks. Understanding these risks allows financial institutions to implement safeguards and protect themselves and their customers.

  

  Risk of data breaches

  By its nature, open banking is like adding more doors and windows to your house. It’s convenient but also gives burglars more ways to break in.

  Open banking increases what cybersecurity professionals call the “attack surface,” or the number of potential points of vulnerability for hackers to steal financial data.

  Data breaches are a serious threat to banks and financial institutions. According to IBM’s 2024 Cost of a Data Breach Report, each breach costs companies in the US an average of $4.88 million. Therefore, banks and fintechs must prioritise strong security measures and data protection protocols to mitigate these risks.

  Risk of third-party access

  By definition, open banking involves granting third-party providers access to customer financial information. This introduces a level of risk outside the bank’s direct control.

  Financial institutions must carefully vet third-party providers, ensuring they meet stringent security standards and comply with all relevant data protection regulations.

  Risk of user account takeover

  Open banking can increase the risk of user account takeover if adequate security measures are not in place. For example, if a malicious third-party provider gains unauthorised access to a user’s bank login details, they could take control of the user’s account and make fraudulent bank transactions.

  A proactive approach to security, continuous monitoring and a commitment to evolving best practices and security protocols are crucial for navigating the open banking landscape.

  Open banking and data analytics : A balancing act for financial institutions

  The additional data exchanged through open banking unveils deeper insights into customer behaviour and preferences. This data can fuel innovation, enabling the development of personalised products and services and improved risk management strategies.

  However, using this data responsibly requires a careful balancing act.

  Too much reliance on data without proper safeguards can erode trust and invite regulatory issues. The opposite can stifle innovation and limit the technology’s potential.

  Matomo Analytics derisks web and app environments by giving full control over what data is tracked and how it is stored. The platform prioritises user data privacy and security while providing valuable data and analytics that will be familiar to anyone who has used Google Analytics.

  Open banking, data privacy and AI

  The future of open banking is entangled with emerging technologies like artificial intelligence (AI) and machine learning. These technologies significantly enhance open banking analytics, personalise services, and automate financial tasks.

  Several banks, credit unions and financial service providers are already exploring AI’s potential in open banking. For example, HSBC developed the AI-enabled FX Prompt in 2023 to improve forex trading. The bank processed 823 million client API calls, many of which were open banking.

  However, using AI in open banking raises important data privacy considerations. As the American Bar Association highlights, balancing personalisation with responsible AI use is crucial for open banking’s future. Financial institutions must ensure that AI-driven solutions are developed and implemented ethically, respecting customer privacy and data protection.

  Conclusion

  Open banking presents a significant opportunity for innovation and growth in the financial services industry. While it’s important to acknowledge the associated risks, security measures like explicit customer consent, encryption and regulatory frameworks make open banking a safe and reliable system for banks and their clients.

  Financial service providers must adopt a multifaceted approach to data privacy, implementing privacy-centred solutions across all aspects of their business, from open banking to online services and web analytics.

  By prioritising data privacy and security, financial institutions can build customer trust, unlock the full potential of open banking and thrive in today’s changing financial environment.

• The Only 7 Lead Generation Tools You Need in 2024

  7 mars 2024, par Erin

  If you can’t get leads, you can’t get customers. To ensure you always have a steady stream of new customers (and revenue), you need to equip yourself with lead generation tools.

  Lead gen software does the heavy lifting for you so you can focus on providing great products and great services. With it, you’ll be able to turn more strangers into customers and grow your business.

  And you don’t need a ton of tools to get the job done, either. Consolidating your tech stack to a few select tools will help you get more done in less time (and with less confusion).

  In this article, we’ll analyse the top seven lead generation tools to help you grow your business in 2024.

  Let’s dive in.

  What is a lead generation tool ?

  A lead generation tool is software you can use to turn strangers into customers. It helps you draw customers into your sales funnel by learning their contact details, like their email address or phone number.

  

  Lead generation tools are great levers you can pull to drive high-quality leads. They remove the grunt work by automating the lead generation process. 

  Whether it’s through creating lead magnets, offering conversion rate analytics, helping you create high-quality forms or automating the lead follow-up process, lead generation tools can bring in new customers to grow your business.

  The top 7 lead generation tools in 2024

  To land more leads, you need to ensure you’re leveraging the right software. With so many to choose from, here’s just a handful of the best ones available :

  

  1. Matomo : Best conversion optimisation tool

  Matomo is an open-source website analytics tool dedicated to protecting user privacy and data. Trusted on over 1 million websites, the platform offers in-depth insights into your web traffic, including conversion data.

  

  Why Matomo ? Matomo is trusted by over 1 million websites, including the United Nations and the European Commission, making it the leading choice for privacy-focused web analytics.

  It comes equipped with a suite of conversion optimisation features to help you generate more leads. You can easily analyse your target audience’s behaviour while also respecting users’ privacy.

  Standout features : In-depth visitor tracking, From Analytics, Session Recordings, A/B Testing, Heatmaps Marketing Attribution, roll-up reporting (pulling data from multiple sites), Google Analytics importing. and more.

  Integrations : Cloudflare, WooCommerce, Squarespace, Shopify, Drupal, Magento, Vue, SharePoint, WordPress, Wix, Webflow, GoDaddy, Jimdo, Joomla, Kajabi. and more.

  Pricing : Starts free for Matomo On-Premise and increases to $23/month for Matomo Cloud (which includes a free 21-day trial with no credit card required).

  Pros

  • 100% accurate data with no data sampling
  • Leading web analytics tool for respecting visitor privacy
  • Compliant with the strictest privacy laws, like the GDPR
  • No need for cookie consent banner (except in the UK and Germany)
  • Wide range of advanced features to optimise your website and increase conversions
  • Cloud hosting and on-premise options for flexibility

  Cons

  • Matomo On-Premise requires technical expertise (but for the less technical, the Cloud option works instantly)
  • On-Premise plugins are an additional cost

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  2. HubSpot : Best all-in-one CRM for organising leads

  HubSpot is a customer relationship management (CRM) and marketing software with over 194,000 customers worldwide. This user-friendly platform is dedicated to helping businesses of all sizes manage leads and customers.

  

  Why HubSpot ? HubSpot Marketing integrates seamlessly with the HubSpot CRM to help with everything from lead capture to conversion. The platform also features a free version — a great starting place for lead generation and management.

  Standout features : A robust set of no-code lead gen tools, like ads, forms, customisable landing pages, lead capture templates for potential customers, email campaigns, analytics dashboards and a free CRM to track leads.

  Integrations : Google Ads, WordPress, Jotform, Facebook Ads, Magento, Shopify, Weebly, WordPress, Zapier and Drupal.

  Pricing : Starts free for anyone and increases to $800/month for a professional plan.

  Pros

  • User-friendly interface
  • All-in-one lead management solution
  • Easy integration with HubSpot CRM
  • Simple analytics for beginners
  • Includes landing page tools
  • Offers email marketing tools to nurture leads

  Cons

  • Free version has limited functionality
  • Expensive jump to paid plans

  3. Leadfeeder : Best for finding warm B2B leads

  Leadfeeder is a business-to-business (B2B) marketing tool that shows B2B brands which companies are visiting their websites and gives them contact information to reach out to the right decision-makers.

  

  Why Leadfeeder ? Leadfeeder simplifies outreach for B2B organisations because it shows you what businesses are interacting with your website. Rather than trying to reach out to completely cold leads, the tool highlights brands that are already checking out your content and offerings.

  Standout features : Many account-based marketing (ABM) tools enable you to discover B2B accounts with insights into when you should contact them after they visit your site, as well as their job titles. The platform also includes a range of features that notify you and your sales team when qualified B2B leads come to your site so that you can move to capture them quickly.

  Integrations : Zoho, Google Chat, Pipedrive, Salesforce, Google Looker Studio, ActiveCampaign, HubSpot, Mailchimp, Microsoft Dynamics and Slack.

  Pricing : Starts at $139/month (includes a 14-day free trial).

  Pros

  • Easily find prospective customers
  • Track website visitors and potential customers freely
  • Simple filtering capabilities

  Cons

  • Few integrations available
  • Can be difficult to contact customer support

  4. OptinMonster : Best all-in-one lead generation form tool

  Founded in 2013, OptinMonster has over 1.2 million users worldwide. It offers a wide range of lead gen tools led by robust form tools that turn your target audience into leads.

  

  Why OptinMonster ? The platform is one of the most reputable lead generation platforms available. With nearly 100 lead capture templates, it’s highly customisable to almost any business looking to begin capturing leads with different forms.

  Standout features : 95 customisable form templates, drag-and-drop builders, onsite retargeting, segmentation, A/B testing and exit-intent popups that present forms when a user is about to leave the site.

  Integrations : Constant Contact, ConvertKit, ActiveCampaign, Salesforce Pardot, Campaign Monitor, HubSpot, Jilt, Keap and Mailchimp.

  Pricing : Starts at $16/month (no free trial offered).

  Pros

  • Easy drag-and-drop form-builder
  • Wide range of form templates
  • Customisable forms for any business
  • Simple A/B testing to help optimise form performance

  Cons

  • No free trial available
  • Growth features, like onsite retargeting, are only available on higher-tiered plans

  5. Intercom : Best live chat tool for capturing leads

  Intercom is one of the top live chat tools for helping businesses maintain solid communication with their customers. Founded in 2011, this live chat platform serves over 25,000 users around the world with a simple, sophisticated experience and seamless lead generation features.

  

  Why Intercom ? Intercom is a live chat tool first. But many people don’t know it’s also a simple lead capture tool. When people think of lead generation, they think of static or popup forms. But Intercom allows you to capture forms directly within a live chat conversation.

  Standout features : Lead generation via live chat that allows you to naturally capture potential customers’ information to turn them into a lead. The tool also comes equipped with chatbots that can automate the communication and lead gen process on autopilot.

  Integrations : Pipedrive, Typeform, Google Analytics, Zapier, Calendly, Salesforce, Stripe, Campaign Monitor, Clearbit Reveal and HubSpot.

  Pricing : Starts at $39/month (with a 21-day free trial).

  Pros

  • Live chat lead gen capture
  • Chatbot lead generation automation
  • Wide range of integrations and apps
  • User-friendly interface

  Cons

  • Fairly expensive for small businesses
  • Customer support isn’t the fastest

  6. Callingly : Best for making inbound calls with leads

  Callingly is a sophisticated call software that lets you get the most out of every inbound call you get from leads. Founded in 2019, this software company gives valuable insights into your inbound call leads, pulling information from various integrations and forms.

  

  Why Callingly ? Callingly is a robust call software that gathers lead information through forms, lead magnets, landing pages and forms. The software also has intelligent routing, which sends a call to the most relevant salesperson.

  Standout features : Advanced lead routing ensures inbound leads are directed to the most appropriate sales rep based on their unique needs and geographic location. The tool is also equipped with call tracking, analytics, lead source tracking and more to help personalise the experience for quick capture and conversion of leads.

  Integrations : ClickFunnels, Pipedrive, Salesforce, Drip, Aircall, HubSpot, Jotform, OptinMonster, Unbounce and Zapier.

  Pricing : Starts at $49/month (with a 14-day free trial).

  Pros

  • Instantly see robust caller information based on previous interactions
  • Intelligent routing places leads with the right sales reps
  • Call recordings to capture data and transfer it into your CRM
  • Voicemail and caller ID capabilities
  • Reporting and analytics for performance tracking

  Cons

  • Doesn’t include lead segmentation
  • Limited customisations
  • No email integration

  7. Notion : Best for creating informational lead magnets

  Notion is one of the most popular collaboration tools on the Internet. Founded in 2013, the platform has over 35 million users worldwide. While it’s known primarily for its advanced note-taking capabilities, Notion is also a simple tool you can use to create informational lead magnets.

  

  Why Notion ? Notion is a simple yet powerful tool you can use to create almost anything. If you want to generate more leads, then creating a free info product with Notion is a simple and effective way to do that. It enables you to create ebooks, digital courses and video courses without having to rely on expensive software.

  Standout features : Documentation tools, note-taking, collaborative documents and duplication capabilities. It’s simple to create a high-value informational product, like an ebook or course with multiple chapters.

  Integrations : Audienceful, Miro, Momentum, Slack, ChatGPT, Clockify, Desktop.com, SureTriggers, Trello and Google Drive.

  Pricing : Starts at $8/month (no free trial available).

  Pros

  • Easy to create a digital product or lead magnet
  • Leads have access with a simple link
  • Lead magnet can be updated in real time
  • AI writing assistant
  • Drag-and-drop functionality
  • User-friendly interface
  • Low-cost pricing plans

  Cons

  • No free trial available (though there is a free version)
  • Search function could use some improvement
  • Performance isn’t the fastest

  Use Matomo to generate more leads

  If you want more leads, then you need to start tracking your website’s forms.

  With Matomo, you get access to features like Form Analytics, A/B Testing, Heatmaps, and Session Recordings to help with conversion rate optimisation.

  Recently, Concrete CMS leveraged Matomo’s funnel analysis feature to improve its lead capture. The CMS was then able to identify bottlenecks in user onboarding. Matomo’s insights showed that users were getting stuck at the address input stage of the form.

  By tweaking their form, Concrete CMS tripled their leads in just a few days.

  If you want to improve your lead generation, then get started with Matomo’s 21-day free trial today. No credit card required.

  Try Matomo for Free

  21 day free trial. No credit card required.

  
  

  Your email address
  

  Your website address
  

  Your Analytics subdomain will be .matomo.cloud (change)

  Choose your analytics subdomain
  

  .matomo.cloud

  I accept the terms and conditions and data processing agreement (DPA)

  
  Your information will be used to create an account on our cloud service. For more information please consult our privacy policy.
  
  
  

  Start improving your websites now

  

• error when converting mts to mp4

  6 janvier 2015, par Chan Kim

  I have many video files that I want to convert to mp4.
  so I installed ffmpeg on my win7 PC (64 bit) which is using shared library.
  I tried to convert an MTS file to MP4 and I get this error.
  What is the problem ?

  $ ffmpeg -i 20140806114251.MTS 20140806114251.mp4
  
  ffmpeg version N-68788-g37b35fe Copyright (c) 2000-2014 the FFmpeg developers
  
    built on Dec 30 2014 22:18:55 with gcc 4.9.2 (GCC)
  
    configuration: --disable-static --enable-shared --enable-gpl --enable-version3 --disable-w32threads --enable-avisynth --enable-bzlib --enable-fontconfig --enable-frei0r --enable-gnutls --enable-iconv --enable-libass --enable-libbluray --enable-libbs2b --enable-libcaca --enable-libfreetype --enable-libgme --enable-libgsm --enable-libilbc --enable-libmodplug --enable-libmp3lame --enable-libopencore-amrnb --enable-libopencore-amrwb --enable-libopenjpeg --enable-libopus --enable-librtmp --enable-libschroedinger --enable-libsoxr --enable-libspeex --enable-libtheora --enable-libtwolame --enable-libvidstab --enable-libvo-aacenc --enable-libvo-amrwbenc --enable-libvorbis --enable-libvpx --enable-libwavpack --enable-libwebp --enable-libx264 --enable-libx265 --enable-libxavs --enable-libxvid --enable-lzma --enable-decklink --enable-zlib
  
    libavutil      54. 15.100 / 54. 15.100
  
    libavcodec     56. 19.100 / 56. 19.100
  
    libavformat    56. 16.102 / 56. 16.102
  
    libavdevice    56.  3.100 / 56.  3.100
  
    libavfilter     5.  6.100 /  5.  6.100
  
    libswscale      3.  1.101 /  3.  1.101
  
    libswresample   1.  1.100 /  1.  1.100
  
    libpostproc    53.  3.100 / 53.  3.100
  
  Input #0, mpegts, from '20140806114251.MTS':
  
    Duration: 00:00:19.04, start: 1.033367, bitrate: 16273 kb/s
  
    Program 1
  
      Stream #0:0[0x1011]: Video: h264 (High) (HDMV / 0x564D4448), yuv420p, 1920x1080 [SAR 1:1 DAR 16:9], 29.97 fps, 29.97 tbr, 90k tbn, 59.94 tbc
  
      Stream #0:1[0x1100]: Audio: ac3 (AC-3 / 0x332D4341), 48000 Hz, 5.1(side), fltp, 448 kb/s
  
      Stream #0:2[0x1200]: Subtitle: hdmv_pgs_subtitle ([144][0][0][0] / 0x0090), 1920x1080
  
  [libx264 @ 0000000002b60a20] using SAR=1/1
  
  [libx264 @ 0000000002b60a20] using cpu capabilities: MMX2 SSE2Fast SSSE3 SSE4.2 AVX
  
  [libx264 @ 0000000002b60a20] profile High, level 4.0
  
  [libx264 @ 0000000002b60a20] 264 - core 144 r2525 40bb568 - H.264/MPEG-4 AVC codec - Copyleft 2003-2014 - http://www.videolan.org/x264.html - options: cabac=1 ref=3 deblock=1:0:0 analyse=0x3:0x113 me=hex subme=7 psy=1 psy_rd=1.00:0.00 mixed_ref=1 me_range=16 chroma_me=1 trellis=1 8x8dct=1 cqm=0 deadzone=21,11 fast_pskip=1 chroma_qp_offset=-2 threads=6 lookahead_threads=1 sliced_threads=0 nr=0 decimate=1 interlaced=0 bluray_compat=0 constrained_intra=0 bframes=3 b_pyramid=2 b_adapt=1 b_bias=0 direct=1 weightb=1 open_gop=0 weightp=2 keyint=250 keyint_min=25 scenecut=40 intra_refresh=0 rc_lookahead=40 rc=crf mbtree=1 crf=23.0 qcomp=0.60 qpmin=0 qpmax=69 qpstep=4 ip_ratio=1.40 aq=1:1.00
  
  [libvo_aacenc @ 00000000028a4020] Unable to set encoding parameters
  
  Output #0, mp4, to '20140806114251.mp4':
  
      Stream #0:0: Video: h264 (libx264), yuv420p, 1920x1080 [SAR 1:1 DAR 16:9], q=-1--1, 29.97 fps, 29.97 tbn, 29.97 tbc
  
      Metadata:
  
        encoder         : Lavc56.19.100 libx264
  
      Stream #0:1: Audio: aac, 0 channels, 128 kb/s
  
      Metadata:
  
        encoder         : Lavc56.19.100 libvo_aacenc
  
  Stream mapping:
  
    Stream #0:0 -> #0:0 (h264 (native) -> h264 (libx264))
  
    Stream #0:1 -> #0:1 (ac3 (native) -> aac (libvo_aacenc))
  
  Error while opening encoder for output stream #0:1 - maybe incorrect parameters such as bit_rate, rate, width or height

  EDIT : I thought I solved this problem by using

  ffmpeg -i filename1.mts filename1.mkv

  my Samsung LED TV supports mkv file and during the conversion, it shows

    Stream #0:0 -> #0:0 (h264 (native) -> h264 (libx264))
  
    Stream #0:1 -> #0:1 (ac3 (native) -> vorbis (libvorbis))

  But Alas ! my TV doesn’t support vorbis codec. It only supports mp3, ac3, lpcm, and ADPCM when using mkv container. So the question is : How do people select output audio codec ?