BFC FinTech Monitor 16th – 23th October

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 …

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Quick look at the statuses of various CBDC projects around the world

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, …

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BFC FinTech Monitor 9th – 19th October

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 …

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Central Bank of Russia considering developing a digital ruble

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 …

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e-Hryvnia getting closer to launch

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 …

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Kazakhstan working on a digital version of its national currency

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 …

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BFC FinTech Monitor 5th – 9th October

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 …

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Video: central bank digital currency basics

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 …

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Infographic: the benefits of a central bank digital currency

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 …

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BFC FinTech Monitor 28th September – 5th October

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 …

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Big Data in banking is becoming everything

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 …

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Big Data’s impact on finance

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 …

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BFC FinTech Monitor 18th – 28th September

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 …

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Data science in finance: the case for AI

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 …

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Data scientists: the new investment bankers

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 …

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10 data analytics startups disrupting the financial services industry

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 …

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