BFC Bulletins Monthly News Digest

Swedish commercial bank Nordea is introducing artificial intelligence, which will analyze, and classify customer text messages and afterwards, distribute them to appropriate departments. The technology can analyze hundreds of messages …

The Astana International Financial Center (AIFC) has announced the creation of a working group to develop an ecosystem to enable blockchain solutions in the Commonwealth of Independent States (CIS) region. …

Azerbaijan’s Cabinet of Ministers has amended the Instruction on the Rules of Notary Movements to allow negative credit histories of citizens to be published on an e-government portal. Detailed information …

Ashot Osipyan, CEO of Araratbank, announced his bank’s NewBank strategic development program which will transform the bank into a classic, digital and investment bank. Within the classic commercial bank structure …

OCBC Bank has become the first in Singapore to launch a comprehensive human resources mobile application. The system, called ‘HR In Your Pocket’, includes an artificial intelligence-powered chatbot which is …

What if, in the not-too-distant future, there won’t be enough jobs for people? Some economists believe that, as robots and artificial intelligence become increasingly capable of performing tasks, there will …

The Central Bank of Armenia has included MIR, the national payment card system of Russia, in its register of active payment and settlement systems. The move is part of a …

Due to an era of low interest rates, banks in Poland found it difficult to compete with prices and, thus, began competing with innovations. Unlike in other markets, Polish Fintech …

Five months after the introduction of fairly strict government regulations, the volume of loans issued by some online lending companies has significantly decreased, along with the number of people they …

British company Worldpay has developed and is testing a mobile application that allows for payments to be received via smartphones which support an NFC device. These mPOS terminals were developed …

Silk Way Bank in Azerbaijan has launched a new mobile app called TaxFree4U. The app facilitates the process of refunding VAT after travelling to European countries, specifically Italy, Spain, France, …

In order to save clients time, VTB bank is launching a convenient online service for clients to book a time slot before coming to the bank. A client only needs …

The decrease in demand for cash and the growth of criminal attacks on ATMs have made many banks in the Netherlands and other European Union (EU) countries consider decreasing the …

The most recent Ernst & Young survey of more than 22,000 digitally active consumers highlights the impressive and rapid growth of the adoption of fintech and its variations within 20 …

A Russian law on the mandatory transition to new cash register equipment has came into force on July, 2016, with the goal of optimizing state control and better tax regulation. …

TBC Bank in Georgia has announced the launch of brand new innovative products and services for corporate clients. Corporate clients will have the chance to register and open accounts remotely, …

When first encountered, blockchain can seem like a complex concept to understand; however, simple words and common associations can help overcome that complexity and make blockchain into something that can …

Credit institutions are constantly developing their scoring system to better prevent bad loans. To assess the solvency of potential borrowers, banks look at things such as age, social status, level …

The following internal policies provide for maximum cloud data security and prevent unnecessary information leaks. Basic policies: employee trainings on how to handle sensitive data in various situations advanced access …

Most retail banks are very much behind in digitalization and the rise of FinTech, focusing instead on only allowing the most routine customer transactions online. A recent analysis conducted by …