BFC Bulletins Monthly News Digest

With concerns of a BigTech “invasion” into financing reaching an apex, it seems appropriate to examine BigTechs’ interest in the financial sector: Why might BigTechs get into banking? – financial …

So far this year, Hong Kong’s Monetary Authority (HKMA) has issued virtual banking licenses 8 different groups, including BigTechs, as part of an initiative to promote financial innovation, enhance consumer …

Android users in India can now make instant peer-to-peer (P2P) payments via Amazon Pay through a government-backed unified payments interface (UPI) platform. The new service will also allow customers to …

According to Christine Lagarde, head of the International Monetary Fund (IMF), the entrance of BigTechs into the financial market could adversely affect overall financial stability. Ms. Lagarde specially mentioned concerns …

Competition in the Asia-Pacific region is intensifying between established financial institutions and the technology and e-commerce disruptors that threaten to carve up the payment solutions market. According to a report …

Chinese tech firms are moving into the banking sector in a much different way then their Western counterparts. Whereas Western BigTechs like Amazon and Google seem content in serving financial …

New players, so-called BigTechs, are entering global financial markets and capturing new market niches by taking advantage of their technological innovations and huge customer bases. As these companies slowly begin …

Internet company Ozon has announced the launch of its own card. The MasterCard World PayPass card serves as a payment instrument as well as gives users access to a loyalty …

Kazakhstan’s Ministry of Economy has announced the launch of an anti-monopoly investigation into Google. The announcement follows a number of complaints received after the internet giant began to block the …

A proposed merger between Yandex and Tinkoff is being heralded by many as a move that will greatly benefit both sides. For Tinkoff, they will gain access to an expanded …

Telecom companies and banks benefit from cooperation in the field of mobile finance, especially in regard to transfers and payments. In Kazakhstan, mobile finance is only at the beginning of …

The St. Petersburg International Economic Forum hosted a discussion with the heads of Yandex, Tinkoff and Severstal, during which the three discussed ideas on the development of technologies. Highlights of …

Russia’s Sberbank has a plan to create a fully-functional online ecosystem that combines banking services and non-financial services by 2024. To do this, the bank has been spent more than …

Russian bank Sberbank is planning to launch a music streaming service in the near future. Currently, the bank is looking for a partner and is reportedly in negotiations with Yandex, …

BIS economic adviser and head of research Hyun Song Shin discusses the entry of bigtech companies into the financial services industry and the new challenges this poses for financial regulators, …

Chris Skinner, chairman of the Financial Services Club UK, discusses the opportunities of TechFin. The State of Kazakhstan’s Digital Tenge How digital banks are raising the bar for customer experience …

Representatives from Business Insider, Dankse Bank, Erste Group Bank AG, Paypal, Frontier Economics and UniCredit Group discuss how bigtech companies’ roles in finance is likely to evolve in the coming …

Collectively, the top 5 bigtech companies generate over USD 8 billion in revenue each year, more than the country of Saudi Arabia. But how do these companies make their money. …

Amazon, Apple, Facebook, Google and Microsoft are five of the most valuable companies in the world, earning the monikers “The Big Five” and “The Frightful Five”. Take a quick look …

In this excerpt from a panel on mass automation, three CEOs discuss the impact of digital companies’ actions on the financial industry and what it means for traditional players. China’s …