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For years FinTech has been the hottest topic of discussion in financial services, with incumbents, regulators, and consumers all asking the same question: “Will small technology-enabled ‘FinTech’ start-ups redefine the way that banks and insurers operate, and upend the competitive landscape of the industry?” Building on the findings of the 2015 World Economic Forum report [...]
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‘Open’ is a short word with a long list of meanings. These range from being free to all to join, ready for business or prepared to entertain new ideas. The impact of ‘open’ within financial services today is almost as big as the list of meanings is long. Accessible, available, inclusive In the context of [...]
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Digital transaction volumes in India hit a new record in July growing almost 2% from the previous month to 859.2 million, according to data released by the Reserve Bank of India. While digital payments in the country have witnessed a meteoric growth trajectory over the last few months, wallet transactions and card payment increases have [...]
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On the centenary of the Russian Revolution, we examine payments in the world’s largest country. How do Russians pay today? And given the state bank dynamic, a new domestic card scheme and an internet-connected, tech-savvy population, what does the future hold for payments in Russia? Russia covers 13 percent of the world’s surface, spans eleven time [...]
Global non-cash transaction volumes grew 11.2% during 2014–2015 to reach 433.1 billion, the highest growth of the past decade, and slightly above last year’s World Payments Report prediction (Figure 1.1). Two regions fuelled this increase: Emerging Asia with a growth rate of 43.4% and CEMEA (Central Europe, Middle East, and Africa3), with 16.4% growth. Expansion [...]
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