{"id":14686,"date":"2020-03-27T12:37:30","date_gmt":"2020-03-27T12:37:30","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=14686"},"modified":"2020-03-27T12:37:30","modified_gmt":"2020-03-27T12:37:30","slug":"bfc-fintech-monitor-20th-27th-march","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-20th-27th-march\/","title":{"rendered":"BFC FinTech Monitor 20th \u2013 27th March"},"content":{"rendered":"<p><strong>Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor<\/strong><\/p>\n<p><strong>Around the World:<\/strong><\/p>\n<ul>\n<li>McKinsey and Company has <a href=\"https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/leadership-in-the-time-of-coronavirus-covid-19-response-and-implications-for-banks\">issued recommendations<\/a> for financial institutions regarding COVID-19 as well as probable economic consequences of the pandemic.<\/li>\n<li>A study by CB Insights has <a href=\"https:\/\/www.cbinsights.com\/research\/report\/blockchain-report-2020\/\">revealed<\/a> that the volume of investments in blockchain companies has decreased by more than a third.<\/li>\n<li>Xiaomi has <a href=\"https:\/\/www.gizmochina.com\/2020\/03\/21\/mi-pay-now-works-with-devices-without-nfc\/\">introduced<\/a> a new payment method for smartphones that does not use NFC technology. The new feature is already available on some of the company\u2019s smartphones, including the Redmi Note 7, the Redmi Note 5 and the Redmi 6.<\/li>\n<li>Neobanks Monzo and Revolut have <a href=\"https:\/\/www.finextra.com\/newsarticle\/35504\/revolut-and-monzo-refute-rumours-of-imminent-collapse-revolut-launches-in-us\">denied rumors<\/a> of an imminent collapse. In fact, Revolut has recently entered the U.S. market.<\/li>\n<li>Several FinTech companies have <a href=\"https:\/\/www.finextra.com\/newsarticle\/35515\/new-coronavirus-fintech-taskforce-offers-support-to-smes\">created<\/a> a working group to help small- and medium-sized U.K. businesses access funding during the COVID-19 pandemic.<\/li>\n<li>se <a href=\"https:\/\/finanso.se\/digital-payments-in-europe-to-surpass-802bn-transaction-value-this-year\/\">predicts<\/a> that digital payments in Europe will amount to USD 802 billion in 2020, a 9.9% year-on-year increase.<\/li>\n<li>The <em>FinTech Power 50 Annual Guide<\/em> has been <a href=\"https:\/\/www.thepower50.com\/annual-publication\/\">published<\/a>, ranking the world\u2019s leading FinTech companies. Notable entries this year include Jumio, Form3, Galileo, Funding Options, Currency Cloud, BANKIFI, Tide and Oak North.<\/li>\n<li>An application to help freelancers prove loss of income during the COVID-19 pandemic has been <a href=\"https:\/\/www.finextra.com\/newsarticle\/35506\/self-isolating-fintech-coders-build-app-to-support-5m-freelancers-over-covid-19-income-loss\">developed<\/a> in the U.K. Its creators hope that it will help freelancers gain access to loans more quickly and easily.<\/li>\n<\/ul>\n<p><strong>Russia:<\/strong><\/p>\n<ul>\n<li>Russia\u2019s Ministry of Economic Development has <a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1ICRJxthKzcXJ0UWLaJyGFjkwjkRg8MyfaTh0VLJknY4\/edit#gid=1690863965\">prepared<\/a> a bill on the use of experimental legal regimes. If passed, it will allow for cryptocurrencies to be examined in \u201cregulatory sandboxes\u201d.<\/li>\n<li>Qiwi has <a href=\"https:\/\/www.kommersant.ru\/doc\/4300533\">halted the development<\/a> of Rocketbank in the B2C segment. In relation to this, the company has announced the cancelation of its loyalty program, a reduction in staffing and an increase in tariffs.<\/li>\n<\/ul>\n<p><strong>Ukraine:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/psm7.com\/fintech\/fintex-konferencii-2020-v-ukraine-nazvany-novye-daty-obnovlyaetsya.html\">New dates<\/a> have been set for FinTech conferences scheduled to be held in Ukraine, including the <em>BlockchainUA<\/em> and <em>Payment Innovation 2030<\/em><\/li>\n<\/ul>\n<p><strong>Uzbekistan:<\/strong><\/p>\n<ul>\n<li>The Central Bank of Uzbekistan has <a href=\"https:\/\/www.spot.uz\/ru\/2020\/03\/20\/humopay\/\">announced<\/a> the launch of the HUMO Pay payment service, an analogue of Apply Pay and Google Pay.<\/li>\n<li>PaySpace Magazine has <a href=\"https:\/\/payspacemagazine.com\/retail\/banking-and-payments-in-uzbekistan-whats-new-and-what-to-look-for\/\">prepared<\/a> extensive materials on how the reforms of the past two years have affected the development of banking and payments in Uzbekistan.<\/li>\n<\/ul>\n<p><strong>Kazakhstan:<\/strong><\/p>\n<ul>\n<li>Daulet Ermekov, director general of the FinTech service Senim.kz, has <a href=\"https:\/\/wfin.kz\/novosti\/finansy\/item\/35301-v-kazakhstane-iz-za-chp-poprosili-snizit-tsenu-na-ekvajring-nebankovskikh-servisov.html\">asked<\/a> international payment systems to reduce its tariffs on transactions with grocers, pharmacies and deliver providers. This request is in response to the country\u2019s COVID-19 state of emergency.<\/li>\n<li>The newspaper Kursiv has <a href=\"https:\/\/kursiv.kz\/news\/finansy\/2020-03\/fintekh-dlya-vsekh\">outlined<\/a> the state of Kazakhstani FinTech. It notes that the most popular FinTech services the country is developing are those related to payments, transfers, currency conversion and online insurance.<\/li>\n<\/ul>\n<p><strong>&nbsp;<\/strong><strong>Georgia:<\/strong><\/p>\n<ul>\n<li>Georgia\u2019s first neobank, Space, has <a href=\"https:\/\/bm.ge\/en\/article\/tbc-plans-to-launch-its-neobank-space-in-germany-\/51009\/\">entered<\/a> the German market. Initially, the bank will cooperate with local banks and focus on providing products and services to Georgian expats in Germany.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-14686 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Georgia works to balance demand for online loans with proper regulations'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/georgia-works-to-balance-demand-for-online-loans-with-proper-regulations\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/20180510173033-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9868\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9868'>\n\t\t\t\tGeorgia works to balance demand for online loans with proper regulations\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: are some bigtechs unstoppable?'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-are-some-bigtechs-unstoppable\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/08\/These-Tech-Giants-Seem-Unstoppable-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13408\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13408'>\n\t\t\t\tVideo: are some bigtechs unstoppable?\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='New project to boost access to digital finance'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/new-project-to-boost-access-to-digital-finance\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/New-project-to-boost-access-to-digital-financ-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-6755\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/New-project-to-boost-access-to-digital-financ-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/09\/New-project-to-boost-access-to-digital-financ-100x100.jpg 100w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-6755'>\n\t\t\t\tNew project to boost access to digital finance\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>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: McKinsey and Company has issued recommendations for financial institutions regarding COVID-19 as well as probable economic consequences of the pandemic. A study by CB Insights has revealed that the volume of &hellip;<\/p>\n","protected":false},"author":12,"featured_media":14684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[473],"tags":[399,184,35,30,70,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14686"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=14686"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14686\/revisions"}],"predecessor-version":[{"id":14687,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/14686\/revisions\/14687"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/14684"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=14686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=14686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=14686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}