BFC Bulletins Monthly News Digest

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World The Bahamas has become the first country in the world to implement a central bank digital currency at the state level. Their digital currency (the sand …

A new working paper from the Bank for International Settlements (BIS) examined the state of various central bank digital currency (CBDC) projects around the world to see what their statuses are. Interestingly, 3 countries (Ecuador, Ukraine and Uruguay) have already completed retail CBDC pilots, and 6 (the Bahamas, Cambodia, China, …

New research recently published by the Bank for International Settlements (BIS) includes a detailed analysis of 32 various projects around the world related to the design, development and launch of central bank-issued digital currencies. Perhaps the most interesting fact unveiled by the research is that none of the 32 projects …

A new report from the Bank for International Settlements (BIS) shows that public interest behind central bank digital currencies (CBDCs) is quickly gaining traction around the world, even outpacing that of Bitcoin and Facebook’s Libra. Analysts at BIS believe the sudden public interest in CBDCs is due to a number …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World G20 participants are working with specialists from international institutions to develop a roadmap for regulating national cryptocurrencies. Work toward this aim is scheduled to be completed by the …

The Central Bank of Russia has announced that it is studying the need to create a national digital currency that will circulate as legal tender alongside the ruble. Although no decision has yet been made, many view the creation of a digital ruble as necessary to meet the ever-changing needs …

The National Bank of Ukraine (NBU) began working on the development of a digital version of its currency 4 years ago and began piloting it 2 years ago. This is important as digital currencies offer a number of important benefits, including faster, easier and more secure payments, reduced operating costs …

The National Bank of Kazakhstan has announced that it is working on creating a digital version of its national currency. As part of the first step towards this aim, the National Bank is in the process of analyzing similar projects in other countries, especially China and Sweden. Specifically, they are …

Around the World CB Insights has published its Third Annual Fintech 250 report, which lists the top 250 FinTech startups worldwide. In this year’s edition, the majority of FinTech startups listed (54%) were based in the United States, followed by the United Kingdom and India. There were also 2% fewer unicorns listed this year as compared …

With China set to pilot its new central bank digital currency (CBDC) in select areas across its territory, it is poised to become the first nation in the world with a sovereign digital currency. But what exactly is a CBDC? How does it work? And what’s the difference between a …

The idea of developing and implementing a central bank digital currency (CBDC) is gaining traction in governments around the world. Take a quick glance of the benefits of a CBDC in this illuminating infographic. FinTech cybersecurity consortium created A blockchain explanation even your parents could understand Taking the internet out …

Taking place as part of Ethereal Virtual Summit 2020, Michael del Castillo of Forbes hosts an enlightening discussion on central bank digital currencies in the age of COVID-19 with guests Peter Munnings of Adhara and Shailee Adinolfi of ConsenSys. Banks need to become Lords of Data New open API to …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World Revenues in the payments industry are likely to grow more slowly due to the COVID-19 pandemic. They could reach as much as USD 1.8 trillion in 2024 …

While social media companies are great at determining what gets our attention, financial institutions know what opens our wallets. Now, Big Data offers a way to combine these two forces (and more) to allow financial institutions to better deliver on their core promise of listening to consumers and creating products …

Big Data is one of the biggest trends happening right now in the financial services industry, with nearly every player understanding the need to leverage analytics garnered from an ever-increasing number of data sources to survive. That being said, let’s look at 10 of the biggest Big Data challenges and …

The financial services industry is changing at an unprecedented pace. Let’s take a quick look at the role of Big Data in this time of extraordinary change: Risk modeling and management – adopting Big Data analytics helps build more effective risk models and propose new methods to mitigate risks. Consumer …

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World: The European Commission (EC) is planning the launch of a regulatory sandbox for testing blockchain projects. The sandbox, expected to be ready by 2022, will be used to …

Understanding complex and interdependent financial systems has long been the proverbial pot of gold at the end of the rainbow. The sheer volume of data involved, the administrative burden of maintaining and processing historical records and the high resources needed to exploit and make sense of an ever-growing lake data …

Data scientists operate by combining coding, statistics and business ideas to develop predictive models for decision-makers, while investment bankers generate investment ideas that are supported by financial models. With the abundance of data now available and the tools to efficiently and effectively process and analyze it, data scientists are quickly …

Data analytics has been the backbone of many revolutionary companies disrupting business as usual. Here are the top 10 data analytics startups disrupting the financial services industry today: Chime (mobile banking) is a pioneering mobile bank that offers no-fee and automatic savings accounts as well as early paydays via direct …