BFC Bulletins Monthly News Digest

Kazakhstan suffers from a lack of digitalization in the financial sector, as is evident by the fact that there is not a single full-fledged digital financial institution in the country. Moreover, there seems to be a lack of understanding of what going digital means, with many financial institutions often only …

Earlier this year, Kiev played host to the 4th Visa Cashless Forum. In total, more than 300 participants gathered to discuss this year’s topic: “Driving the Future”. During the event, leading experts lead discussions surrounding trends and directions in the development of the payment sector in Ukraine. Some of the …

Digital transformation of the Russian financial sector already has a solid base. And with more and more Russians taking advantage of remote service channels and becoming connected to regular internet access, there is tremendous growth potential for digitalization in Russia. In order for this to come to fruition, there are …

Insurance markets are changing all over the world thanks to digital innovations. This includes: changes to calculation models, increased competition (due to the rise of insurance platforms), a rise in the use of online data analysis, actuary skill development and new car insurance models. Although suffering from a number of …

Consumers choose to use digital services for one main reason – it solves an issue. In Kazakhstan, however, the adoption of digital services has been somewhat lower than in other countries. While a part of this lower adoption rate may be due to the consumer base in the country, the …

FinTech is a booming industry in Ukraine, with more than 100 such companies operating in the country today (58% of which were founded in the last 3 years). Because of the relative youth of the sector in Ukraine, most are now either just starting sales (24%) or working to scale …

In recent years, the banking sector of Uzbekistan has been undergoing a number of reform efforts aimed at improving the availability and quality of financial services, something important for sustained economic growth. The main priorities have been on the further development of payment systems, strengthening the financial stability of credit …

Cybersecurity as a service is part of a wider global trend toward the sharing economy model, in which consumers pay for a service over time as opposed to buy a product outright. As with most breakthrough concepts, cybersecurity as a service has gone from a few small startups with a …

The digital transformation trends of 2020 are defined by a fresh new class of technologies, including 5G, artificial intelligence and advanced data analytics. This infographic explores the top 10 digital transformation trends expected to have the most significant impact in 2020. The social impact imperative of FinTechs Infographic: using communication …

Experts discuss the trends likely to influence the payments sphere in 2020. The impact of artificial intelligence on wealth management Video: 10 strategic technology trends in 2019 5 ecosystem and B2B solutions for FinTech startups in Southeast Asia

Competition in the banking industry is intensifying, with neo-banks winning more of the market share, FinTechs targeting ever more lucrative niches and BigTech players leveraging their large customer bases. These disruptors are able to grow their businesses (and attract customers) at a much better rate than traditional financial institutions thanks …

Each year, different technology trends drive disruption and create opportunities for growth and development. Here’s a look at 10 of the top strategic technology trends for 2020 from our friends at Gartner. Video: the “uberization” of banking Infographic: data and data science How digital is your bank? Take a short …

Digital transformation has become a catchall term for reimagining business in the digital age. It can refer to any process that uses digital technologies to solve for changing business and market requirements. Our friends at MuleSoft have outlined the top 7 digital transformation trends shaping 2020: Connecting consumer experiences – …

The financial services industry is shifting from open banking to an impending phase called Open X. Learn how to thrive on the Open X shared marketplace in this informative World Fintech Report 2019 video. FinTech highlights the good and bad of lending in China Polish banks reluctant to embrace open …

The advancement of technology has been a consistent driver of business development, and 2020 will be no different. Here’s a quick look at the top FinTech trends for the coming year. Online portal to let Tashkent residents decide on city spending What is P2P lending? Video: investments in challenger banks …

Now in its sixth edition, the FinTech100 highlights truly innovative companies that create products and services at the juncture of technology and financial services, especially those disrupting the existing processes and products that dominate the marketplace. This year’s FinTech 100 features companies from 29 countries and includes a balance of …

Advanced data science promises numerous benefits to financial institutions in a wide variety of areas, including marketing, sales, operations, consumer intelligence, portfolio management, risk and compliance. Here are 10 significant areas of concern that financial institutions should consider as they evaluate their technology priorities: Artificial intelligence (AI) – AI can …

FinTech businesses have turned Big Data into big money through greater process efficiencies and more consumer conveniences. Here are 5 ways financial institutions can use Big Data to their advantage: Analyze consumer opinions and moods – monitoring and analyzing online reactions to products, services and brands help financial institutions better …

By capturing and leveraging massive volumes of data, financial institutions can capitalize on new data-driven business opportunities. In fact, financial institutions are already well on their way to doing so in four main ways: improving consumer experiences, optimizing risk controls, automating business processes, improving operational efficiency. These are accomplished using …

You don’t need to be an expert at artificial intelligence (AI) or machine learning to use data analytics effectively. In fact, the most sophisticated form of machine learning is the one that resides between our ears. Given that humanity is expected to produce 40 zettabytes (a zettabyte is a 1 …