New payment options in the market are creating new opportunities, making competition fiercer, and reducing the use of cash and cheques.
New payment options in the market are creating new opportunities, making competition fiercer, and reducing the use of cash and cheques.
Banks are integrating new technologies into their core businesses to improve their digital banking presence and speed-to-deliver
The mBridge pilot has tested the issuance of over $12 million in central bank digital currencies (CBDCs) and payments of over $22 million on bridge. It has resolved long-standing pain points in traditional cross-border payment systems and is rooted in the roadmap for distributed ledger technology (DLT)-based infrastructure, as well as CBDC.
Central banks worldwide increasingly recognise the benefits of wholesale central bank digital currencies (wCBDCs) in making remittances and other cross-border transactions cheaper, faster and safer. Pilot projects set in motion seek to identify opportunities and risks as well as explore the possibility of having shared infrastructure to automate cross-border payments, foreign exchange and settlements.
Chinese private banks are upgrading philanthropic planning services to cater to increased demand following the country’s ‘common prosperity’ policy
Banks have implemented chatbots for operational efficiency and improved customer access, but new AI capabilities expose key gaps in contextual and cognitive capabilities of current bots
With a large portion of Africa’s population still lacking access to traditional banking services, particularly in places banks fear to tread, payment providers have stepped into the breach, gaining in popularity for offering services beyond the usual payments, money transfer and savings
Digital currencies are revolutionising global finance and erasing borders, and while DeFi and the creator economy drive privacy-focused systems independent of governments, the narrative centers on traditional finance and DeFi convergence
The shift in global supply chains is accelerating demand for new financing programmes and solutions that aim to accelerate and improve trade digitalisation processes
An altered operating environment has led treasury to reprioritise their investment and liquidity management strategy, with cash management providers offering enhanced solutions
China's e-commerce rebounded in 2023, with Pinduoduo's remarkable performance surpassing that of Alibaba and JD.com. Alibaba responded with the 'Year-End Good Price' festival, emphasising a 'low price strategy.'
The majority of institutions surveyed attribute their increased Renminbi usage to China’s investments and partnerships facilitated by the Belt and Road Initiative