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Digital banking’s rise over classical banking

Digital banking was on pace to develop slowly, mired in the shadow of classical banking. This was especially the case in many emerging markets. However, the COVID-19 pandemic has complicated the work of most financial institutions around the world and accelerated the pace of digital banking as financial institutions search …

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Classic banking models no longer profitable

The landscape around the financial sector has changed drastically recently, and the relatively straightforward indicators traditionally used to assess its growth and profitability are simply no longer applicable, at least in giving us the full picture. For example, GDP growth is no longer connected to lending as it used to …

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What lifestyle banking means for the future of banking

Most people today maintain an active lifestyle that is defined by a routine or set of routines. Moreover, more and more aspects of life are continuing to become part of our lifestyles, and banking is no different. As the idea of banking evolves from a simply-structured financial organization focused on …

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Video: the state of artificial intelligence in banking

Artificial intelligence (AI) is becoming an increasingly common tool used by financial institutions across the world. Take a quick look at how they are putting AI to use, what risks this carries and what state regulating bodies can do to foster the further development of AI in banking. Russian banks …

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Design considerations for central bank digital currencies

Central bank digital currencies (CBDCs) are being explored and, in some cases, piloted by central banks around the world. To become a contributing part of our future world however, they must be paired with an extremely resilient, secure and performant infrastructure that has the ability to onboard, authenticate and support …

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New report highlights central bank digital currencies

Deutsche Bank Wealth Management has released a new special report on central bank digital currencies (CBDCs). The report highlights how CBDCs could fundamentally change all financial relationships by, essentially, making governments the main intermediaries between all financial transactions. While this could serve to increase transaction speed, security and transparency (thereby …

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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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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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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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Payment solutions for a new world: biometric payment cards

Biometric payment cards are finally poised to become a commercial reality, with Norwegian company Zwipe leading the way. According to Zwipe CEO Andre Lovestam, the company plans on small-scale commercial launches of the 1st generation of biometric payment cards by the end of the year and expects demand to increase …

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2020: the great QR code renaissance

QR codes have been around for years, seemingly a marginal tech solution for a problem that didn’t exist. But as with so many things in the world after the appearance of COVID-19, this much-maligned tech solution has been given a purpose as an elegant enabler of touchless commerce. Although much …

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Digital payment solutions: from possible future to inevitability

There has been a significant shift toward digital and cashless payment solutions in recent years. In fact, investments in payment-related FinTechs have doubled investments in other technologies across the financial services space. And now that the COVID-19 pandemic has revealed the significant benefits of digital and cashless payment solutions, this …

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3 projections for COVID-19’s impact on payments in Europe

The COVID-19 pandemic has put a spotlight on consumer spending habits in times of crisis, and rightfully so. But it’s also important to consider its impact on the payments industry. Here are 3 projections for how the pandemic will shape payments in Europe going forward: Cash usage will continue to …

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