Why the digital transformation of the financial sector matters

Why the digital transformation of the financial sector matters

Why the digital transformation of the financial sector matters AMID the global Covid-19 crisis, the Philippines saw an increasing number of people transacting through digital platforms, with a 5,000-percent surge in digital payments in 2020. This resulted in the enactment of a bill, known as the “Promotion of Digital Payments Act,” which aims to promote

Sustainable financing is key to access digital healthcare, education and financial services

Sustainable financing is key to access digital healthcare, education and financial services

Representational image | Manisha Mondal | ThePrint Text Size: A- A+ Digital connectivity is oxygen for opportunity. The opportunities made possible to those who are connected are rapidly expanding as services across every sector are increasingly provided and consumed online. These include healthcare, education and financial services. Yet, the global COVID-19 pandemic

Making Digital Financial Inclusion a Reality

Making Digital Financial Inclusion a Reality

Digital financial inclusion is defined as digital access to and the use of formal financial services by the unserved and underserved population at an affordable cost (Lauer and Lyman 2015). Notwithstanding numerous policy initiatives undertaken by the Government of India (GoI) to reach the last mile, financial inclusion continues to remain elusive for the common man. While

Texthelp Addresses Need for Digital Accessibility in Financial Services with Release of New Industry Report

Texthelp Addresses Need for Digital Accessibility in Financial Services with Release of New Industry Report

Digital accessibility gains in importance as more customers move to online banking COVID-19 speeds industry’s move to digital, unwittingly leaving some consumers behind WOBURN, Mass., Sept. 8, 2021 /PRNewswire/ — Texthelp, a global leader in literacy and accessibility technology, today released a new industry report. Texthelp Logo (PRNewsfoto/Texthelp) The report, Accessibility in Financial Services: The

The digital renminbi and the rise of central bank digital currencies

The digital renminbi and the rise of central bank digital currencies

Author: Michael Sung, Fudan University A few years ago, governments were not prepared to accept any potential systemic disruption that digital currencies could have on the international monetary system. But positions have been changing drastically. Facebook’s June 2019 announcement of its own digital currency, initially called Libra, then known as Diem, was a shot heard

Central banks need to go slow on digital currencies

Central banks need to go slow on digital currencies

Cryptocurrencies updates Sign up to myFT Daily Digest to be the first to know about Cryptocurrencies news. The writer is a senior fellow at Harvard Kennedy School The emergence of central bank digital currencies is inevitable. Research on CBDC design and implementation is under way around the world. China is seven years into the process

Digital Financial Inclusion in China

Digital Financial Inclusion in China

China’s Experience in Digital Financial Inclusion [1] 1. Background Financial inclusion is the next step in the evolution of financial systems and has played a key role in the development of China’s finance. Before 1978, China’s macro economy was primarily regulated through fiscal policies, first establishing a modern banking system in 1985 with the creation

Will digital money belong to democrats or despots?

Will digital money belong to democrats or despots?

China’s official app for digital yuan is seen on a mobile phone next to 100-yuan banknotes on October 16, 2020. Photo via Florence Lo/Reuters. Just as the internet disrupted media and the information ecosystem, innovations in financial technology (fintech) are disrupting another fundamental aspect of society: money. As societies move to modernize their financial systems,

AFRICA’S FINANCIAL SERVICES INDUSTRY GEARS UP FOR DIGITAL FINANCE AFRICA 2021

AFRICA’S FINANCIAL SERVICES INDUSTRY GEARS UP FOR DIGITAL FINANCE AFRICA 2021

Digital Finance Africa 2021 will be held online on the 31st of August. Digital Finance Africa will focus on how financial institutions can harness technology to stay competitive– in spite of the current crisis. Digital Finance Africa 2021 will focus on how financial institutions can harness technology to stay competitive– in spite of the pandemic.”