{"id":16622,"date":"2022-02-08T13:25:15","date_gmt":"2022-02-08T13:25:15","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=16622"},"modified":"2022-02-08T13:25:15","modified_gmt":"2022-02-08T13:25:15","slug":"bfc-fintech-monitor-19th-january-8th-february","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-19th-january-8th-february\/","title":{"rendered":"BFC FinTech Monitor (19th January \u2014 8th February)"},"content":{"rendered":"<p>Stay up-to-date on all the latest FinTech news and information from around the world in the BFC FinTech Monitor.<\/p>\n<p><strong>Around the World<\/strong><\/p>\n<p><strong>#Reports and Studies<\/strong><\/p>\n<ul>\n<li>According to KPMG\u2019s\u00a0<a href=\"https:\/\/assets.kpmg\/content\/dam\/kpmg\/xx\/pdf\/2022\/02\/pulse-of-fintech-h2-21.pdf\" target=\"_blank\" rel=\"noopener\"><em>Pulse of Fintech H2\u201921<\/em><\/a>\u00a0report, total investments in fintech in 2021 exceeded USD 210 billion.<\/li>\n<li>Data from\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/tezos-transactions-and-smart-contract-activity-surge-on-nft-demand\" target=\"_blank\" rel=\"noopener\">Coin Metrics<\/a>\u00a0suggests that the number of transactions using smart contracts has grown to over 50,000 per day.<\/li>\n<li>Ernst &amp; Young\u2019s\u00a0<a href=\"https:\/\/coinyuppie.com\/cbdcs-and-stablecoins-ernst-young-advises-banks-to-prepare-for-whats-to-come\/\" target=\"_blank\" rel=\"noopener\"><em>2022 Global Regulatory Outlook<\/em><\/a>\u00a0recommends that financial institutions change their \u201cregulatory perimeter\u201d in light of the rise in popularity of central bank digital currencies and stablecoins.<\/li>\n<li><a href=\"https:\/\/thepaypers.com\/digital-identity-security-online-fraud\/fbi-issues-warning-on-qr-code-payments--1254091\" target=\"_blank\" rel=\"noopener\">The FBI<\/a>\u00a0is warning people to be cautious of QR codes as cybercriminals are creating fake codes that lead victims to malicious sites and prompt them to enter login and other important personal data.<\/li>\n<li>According to research conducted by\u00a0<a href=\"https:\/\/ffnews.com\/newsarticle\/insurtech\/blockchain-based-insurance-claims-to-exceed-10-billion-in-cost-savings-by-2024-as-stakeholders-benefit-from-process-efficiencies\/\" target=\"_blank\" rel=\"noopener\">Juniper Research<\/a>, insurance companies can save an estimated USD 10 billion by 2024 if they utilize blockchain technology to manage insurance claims.<\/li>\n<\/ul>\n<p><strong>#Innovations<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/rb.ru\/news\/cpu-gpu-ai\/\" target=\"_blank\" rel=\"noopener\">Qpisemi<\/a>\u00a0(India) is preparing to release a new processor for artificial intelligence (AI) applications that will be 100 times more powerful than a data center GPU.<\/li>\n<li><a href=\"https:\/\/www.finextra.com\/newsarticle\/39613\/shawbrook-taps-ai-to-make-loan-pricing-decisions-faster\" target=\"_blank\" rel=\"noopener\">Shawbrook Bank<\/a>\u00a0(United Kingdom) has deployed its own pricing environment that speeds up the generation of interest rates on consumer loans by 5 times.<\/li>\n<li>Samsung has\u00a0<a href=\"https:\/\/news.samsung.com\/global\/samsung-introduces-smart-all-in-one-fingerprint-security-ic-for-biometric-payment-cards\" target=\"_blank\" rel=\"noopener\">introduced<\/a>\u00a0a chip for payment cards that includes a fingerprint scanner, which can be used for authentication.<\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-27\/apple-to-let-iphones-accept-credit-cards-without-extra-hardware\" target=\"_blank\" rel=\"noopener\">Apple<\/a>\u00a0may soon introduce a feature that allows iPhones to be used a payment terminals.<\/li>\n<li>The Polish Ministry of Finance has\u00a0<a href=\"https:\/\/www.cashless.pl\/11236-aplikacja-e-paragony\" target=\"_blank\" rel=\"noopener\">developed<\/a>\u00a0an application with which users can download sales receipts from a cash register into their mobile device.<\/li>\n<li>Mastercard has introduced a virtual card for instant\u00a0<a href=\"https:\/\/www.mastercard.com\/news\/press\/2022\/january\/mastercard-unveils-next-generation-virtual-card-solution-for-instant-b2b-payments\/\" target=\"_blank\" rel=\"noopener\">B2B payments<\/a>.<\/li>\n<li>Visa has developed\u00a0<a href=\"https:\/\/futureiot.tech\/visas-new-cloud-platform-turns-any-device-into-a-pos-terminal\/\" target=\"_blank\" rel=\"noopener\">Visa Acceptance Cloud<\/a>, a cloud platform for payments that allows merchants to accept payments without terminals from any mobile device.<\/li>\n<\/ul>\n<p><strong>#Cryptocurrencies, Blockchain and Non-Fungible Tokens (NFTs)<\/strong><\/p>\n<ul>\n<li>The Asian Development Bank (ADB) plans on testing\u00a0<a href=\"https:\/\/www.ledgerinsights.com\/asian-development-bank-to-trial-blockchain-for-securities-settlement\/\" target=\"_blank\" rel=\"noopener\">blockchain<\/a>\u00a0solutions to settle cross-border securities transactions.<\/li>\n<li>UNICEF has\u00a0<a href=\"https:\/\/www.unicef.org\/globalinsight\/reports\/prospects-children-2022-global-outlook\" target=\"_blank\" rel=\"noopener\">called<\/a>\u00a0unregulated cryptocurrency markets a threat to children.<\/li>\n<li>Analytics solution provider Ideal has\u00a0<a href=\"https:\/\/www.finextra.com\/pressarticle\/91291\/ideal-releases-crypto-analytics-api\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0the world&#8217;s first cryptanalytics interface.<\/li>\n<li>Google Cloud will\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/39597\/google-cloud-reveals-defi-ambitions-with-new-digital-assets-team\" target=\"_blank\" rel=\"noopener\">establish<\/a>\u00a0a digital asset group to explore the potential of blockchain-based platforms.<\/li>\n<li>The International Monetary Fund (<a href=\"https:\/\/www.bbc.com\/news\/world-latin-america-60135552\" target=\"_blank\" rel=\"noopener\">IMF<\/a>) is urging El Salvador to abandon bitcoin due to risks that could bring down the region&#8217;s economy.<\/li>\n<li>Cryptocurrency exchange FTX will soon issue\u00a0<a href=\"https:\/\/card.ftx.com\/\" target=\"_blank\" rel=\"noopener\">Visa<\/a>\u00a0debit cards that have funds converted to the desired fiat currency upon payment.<\/li>\n<li>Google is hiring a former\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-19\/google-hires-paypal-vet-to-reset-strategy-after-banking-retreat\" target=\"_blank\" rel=\"noopener\">PayPal<\/a>\u00a0CEO to promote crypto payments as it prepares to also issue virtual crypto cards.<\/li>\n<li>YouTube is exploring the possibility of introducing\u00a0<a href=\"https:\/\/www.theverge.com\/2022\/1\/25\/22899586\/youtube-nfts-crypto-susan-wojcicki\" target=\"_blank\" rel=\"noopener\">NFT tokens<\/a>\u00a0as another source of income for creators.<\/li>\n<li>Meta (formerly Facebook) has sold the assets of the\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-01-31\/meta-backed-diem-association-confirms-asset-sale-to-silvergate\" target=\"_blank\" rel=\"noopener\">Diem<\/a>\u00a0(formerly Facebook Libra) crypto project.<\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2022\/01\/28\/visa-says-crypto-linked-card-usage-hit-2point5-billion-in-its-first-quarter.html\" target=\"_blank\" rel=\"noopener\">Visa<\/a>\u00a0cryptocurrency card payments reached USD 2.5 billion in the first quarter of the 2022 fiscal year.<\/li>\n<li>Online trading platform\u00a0<a href=\"https:\/\/www.reuters.com\/technology\/robinhood-start-rolling-out-crypto-wallets-2022-01-20\/\" target=\"_blank\" rel=\"noopener\">Robinhood<\/a>\u00a0has announced that it is beta testing the sending and receiving of crypto assets between its own wallets and the wallets of other providers.<\/li>\n<li>India plans to introduce a 30% tax on income from\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/02\/03\/india-budget-proposed-a-30percent-tax-on-digital-asset-income.html\" target=\"_blank\" rel=\"noopener\">virtual assets<\/a>.<\/li>\n<li>Bulgaria is exploring options for\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/bulgaria-s-finance-minister-says-country-is-exploring-crypto-payment-options-report?ref=fintastico.com\" target=\"_blank\" rel=\"noopener\">deploying<\/a>\u00a0a mechanism for cryptocurrency payments.<\/li>\n<\/ul>\n<p><strong>#Central Bank Digital Currencies (CBDCs)<\/strong><\/p>\n<ul>\n<li>India plans to launch the\u00a0<a href=\"https:\/\/www.ledgerinsights.com\/india-blockchain-cbdc-digital-rupee-for-2022-23-tax-crypto\/\" target=\"_blank\" rel=\"noopener\">digital rupee<\/a>\u00a0in March 2023.<\/li>\n<li>Chinese food delivery platform\u00a0<a href=\"https:\/\/www.nasdaq.com\/articles\/another-chinese-tech-firm-adds-chinas-cbdc-as-payment-option\" target=\"_blank\" rel=\"noopener\">Meituan<\/a>\u00a0will soon accept the digital yuan.<\/li>\n<li><a href=\"https:\/\/blockchaintechnology-news.com\/2022\/01\/bank-of-america-expects-us-cbdc-launch-between-2025-and-2030\/\" target=\"_blank\" rel=\"noopener\">Bank of America<\/a>\u00a0analysts are predicting that the digital dollar will launch before 2030. They also believe that the\u00a0<a href=\"https:\/\/www.coindesk.com\/policy\/2022\/01\/24\/bank-of-america-says-us-cbdc-would-preserve-dollars-status-as-worlds-reserve-currency\/\" target=\"_blank\" rel=\"noopener\">digital dollar<\/a>\u00a0will have no credit or liquidity risks as it will be the responsibility of the US Federal Reserve and not a commercial financial institution.<\/li>\n<li>The Bank for International Settlements (BIS), the Swiss National Bank and the Swiss Exchange (SIX) have successfully completed the second phase of the\u00a0<a href=\"https:\/\/www.assetservicingtimes.com\/assetservicesnews\/industryarticle.php?article_id=12676&amp;navigationaction=industrynews&amp;newssection=industry\" target=\"_blank\" rel=\"noopener\">Helvetia project<\/a>, which seeks to integrate settlements with commercial financial institutions using a wholesale CBDC.<\/li>\n<li>The South Korean regulator has\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/bank-of-korea-completes-first-phase-of-digital-currency-pilot\" target=\"_blank\" rel=\"noopener\">announced<\/a>\u00a0the successful completion of its first digital won trial phase.<\/li>\n<\/ul>\n<p><strong>#Miscellaneous<\/strong><\/p>\n<ul>\n<li>The global open innovation program\u00a0<a href=\"https:\/\/usa.visa.com\/visa-everywhere\/everywhere-initiative\/initiative.html\" target=\"_blank\" rel=\"noopener\"><em>Visa Everywhere Initiative<\/em><\/a>\u00a0is inviting fintech startups in Africa, Central Europe, Eastern Europe and the Middle East to showcase their innovative products and solutions.<\/li>\n<li>The European Central Bank plans on\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/39592\/ecb-to-run-climate-risk-stress-test\" target=\"_blank\" rel=\"noopener\">stress testing<\/a>\u00a0European Union (EU) banks for resilience to financial and economic shocks that could be caused by global warming.<\/li>\n<li>Google plans to expand its range of supported cards and payment instruments in\u00a0<a href=\"https:\/\/www.nfcw.com\/whats-new-in-payments\/google-sets-out-its-vision-for-the-future-of-google-pay\/\" target=\"_blank\" rel=\"noopener\">Google Pay<\/a>. Negotiations with cryptocurrency providers toward this end are already underway.<\/li>\n<li>PayPal has launched a buy-now-pay-later (<a href=\"https:\/\/www.pymnts.com\/bnpl\/2022\/paypal-launches-its-payment-after-30-days-in-germany\/\" target=\"_blank\" rel=\"noopener\">BNPL<\/a>) service in Germany that allows users to fully pay for online purchases of up to EUR 1,000 over a period of 30 days after the purchase is made.<\/li>\n<li><a href=\"https:\/\/www.jpmorganchase.com\/news-stories\/tech-investment-could-disrupt-banking\" target=\"_blank\" rel=\"noopener\">JPMorgan Chase<\/a>\u00a0plans on spending USD 12 billion on technology in 2022.<\/li>\n<li>Revolut has\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/39617\/revolut-moves-into-insurtech-with-pet-product\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0a pet insurance product and now allows users to trade\u00a0<a href=\"https:\/\/www.reuters.com\/technology\/british-digital-banking-app-revolut-launches-us-stock-trading-2022-01-19\/\" target=\"_blank\" rel=\"noopener\">stocks<\/a>\u00a0in the US.<\/li>\n<li>Fintech startup\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/39564\/huawei-taps-curve-for-mobile-payments\" target=\"_blank\" rel=\"noopener\">Curve<\/a>\u00a0will work with Huawei to launch NFC mobile payments.<\/li>\n<li>Santander has become the first European financial institution to\u00a0<a href=\"https:\/\/www.santander.com\/en\/press-room\/press-releases\/2022\/01\/santander-launches-zinia-its-new-buy-now-pay-later-service\" target=\"_blank\" rel=\"noopener\">launch<\/a>\u00a0Zinia&#8217;s BNPL service.<\/li>\n<\/ul>\n<p dir=\"ltr\"><strong>Russia<\/strong><\/p>\n<ul>\n<li>Beginning on April 1, 2022,\u00a0<a href=\"https:\/\/www.rbc.ru\/finances\/07\/02\/2022\/61fef83b9a7947f3eff2e752?from=from_main_4\" target=\"_blank\" rel=\"noopener\">Western Union<\/a>\u00a0will no longer send transfers to Russia due to low demand.<\/li>\n<li>Both Visa and Mastercard are\u00a0<a href=\"https:\/\/www.kommersant.ru\/doc\/5192761\" target=\"_blank\" rel=\"noopener\">concerned<\/a>\u00a0that they may lose a significant market share in Russia.<\/li>\n<li>The Fast Payment System (<a href=\"https:\/\/rb.ru\/news\/sbp-banks\/\" target=\"_blank\" rel=\"noopener\">FPS<\/a>), which allows for purchases to be made using a smartphone (similarly to Apply Pay and Google Pay), is planned to be launched in Russia.<\/li>\n<li><a href=\"https:\/\/www.epigraph.info\/10-biznes\/6499-kompaniya-atomyze-stala-odnoj-iz-pervykh-poluchila-litsenziyu-na-upravlenie-finansovymi-aktivami-ot-tsentrobanka-rossii.html\" target=\"_blank\" rel=\"noopener\">Atomyze<\/a>\u00a0has become the first company in the Russian register of information system operators engaged in the issuance of digital financial assets.<\/li>\n<li>Finam has launched\u00a0<a href=\"https:\/\/www.banki.ru\/news\/lenta\/?id=10960684\" target=\"_blank\" rel=\"noopener\">Finam Accelerator<\/a>, a new venture project, to support fintech startups.<\/li>\n<li>The Central Bank of Russia is\u00a0<a href=\"https:\/\/realnoevremya.ru\/articles\/239621-cb-vystupaet-za-zapret-kriptovalyut-minfin-protiv\" target=\"_blank\" rel=\"noopener\">proposing\u00a0<\/a>a ban on cryptocurrencies, while Russia\u2019s Ministry of Finance is advocating for their regulation. Russian regulators have also\u00a0<a href=\"https:\/\/rg.ru\/2022\/01\/19\/namechen-vektor-cifrovizacii-finansovogo-rynka-rf.html\" target=\"_blank\" rel=\"noopener\">developed\u00a0<\/a>a three-year strategy for the development of financial technologies in the country as well as drafted amendments that will allow fintech companies, non-financial\u00a0<a href=\"http:\/\/www.cbr.ru\/press\/event\/?id=12619\" target=\"_blank\" rel=\"noopener\">organizations<\/a>\u00a0and non-banking financial organizations to provide payment services.<\/li>\n<li>Useful longreads:\n<ul>\n<li><a href=\"https:\/\/tass.ru\/opinions\/13530523\" target=\"_blank\" rel=\"noopener\"><em>Why Russian Banking Is Ahead of Western Banking<\/em><\/a><\/li>\n<li><a href=\"https:\/\/bosfera.ru\/bo\/etot-divnyy-mir-rossiyskogo-finteha\" target=\"_blank\" rel=\"noopener\"><em>Features of fintech in the Russian Federation<\/em><\/a><\/li>\n<li><a href=\"https:\/\/bosfera.ru\/bo\/produktocentrichnyy\" target=\"_blank\" rel=\"noopener\"><em>IT Trends in 2022 in the Financial Industry<\/em><\/a><\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/rb.ru\/news\/pfm-service\/\" target=\"_blank\" rel=\"noopener\">According<\/a>\u00a0to a joint study by the Fintech Association and App Annie, Russians began more actively using services to manage their personal finances in 2021.<\/li>\n<li>Innovations from Russian financial institutions:\n<ul>\n<li><a href=\"https:\/\/tass.ru\/ekonomika\/13465621\" target=\"_blank\" rel=\"noopener\">Payments between individuals using the digital ruble<\/a><\/li>\n<li><a href=\"https:\/\/iz.ru\/1283715\/natalia-revva\/iskusstvo-intellekta-banki-vnedriaiut-vizualizatciiu-animirovannykh-personazhei\" target=\"_blank\" rel=\"noopener\">The visualization of animated characters in ecosystems<\/a><\/li>\n<li><a href=\"https:\/\/trends.rbc.ru\/trends\/industry\/61e924349a7947761b46f2d8\" target=\"_blank\" rel=\"noopener\">New opportunities for AI<\/a><\/li>\n<\/ul>\n<\/li>\n<li>Sber has closed its\u00a0<a href=\"https:\/\/www.kommersant.ru\/doc\/5192768\" target=\"_blank\" rel=\"noopener\">SberCredo<\/a>\u00a0small business investment platform. All registered investors were able to withdraw their funds to their bank accounts in full.<\/li>\n<\/ul>\n<p><strong>Ukraine<\/strong><\/p>\n<ul>\n<li>Cryptocurrency exchange\u00a0<a href=\"https:\/\/itc.ua\/news\/binance-zapustit-v-ukrayini-platizhnu-kartku-z-balansom-u-kriptovalyutah-ta-avtomatichnoyu-konvertacziyeyu-pid-chas-platezhu\/\" target=\"_blank\" rel=\"noopener\">Binance<\/a>\u00a0is preparing to issue a card for the Ukrainian market that offers cryptocurrency balances and automatic conversion during payment.<\/li>\n<li>News from Monobank:\n<ul>\n<li><a href=\"https:\/\/psm7.com\/bank\/monobank-testiruet-novoe-prilozhenie-dlya-torgovli-akciyami.html\" target=\"_blank\" rel=\"noopener\">A new service for trading stocks being tested<\/a><\/li>\n<li>The\u00a0<a href=\"https:\/\/psm7.com\/diya\/diya-i-monobank-zapuskayut-novuyu-uslugu-dlya-ukraincev.html\" target=\"_blank\" rel=\"noopener\">D\u0456ya.P\u0456dpis<\/a>\u00a0service now available with Monobank\u2019s app<\/li>\n<li><a href=\"https:\/\/psm7.com\/bank\/monobank-nameren-predyavit-dubiletu-mnogomillionnyj-isk.html\" target=\"_blank\" rel=\"noopener\">Claims against<\/a>\u00a0founder Dmitry Dubilet (stemming from his Fintech farm project)\u00a0<a href=\"https:\/\/delo.ua\/business\/dubilet-obyasnil-situaciyu-s-pretenziyami-k-ego-britanskoi-kompanii-iz-za-vorovstva-idei-u-monobank-392437\/\" target=\"_blank\" rel=\"noopener\">dismissed<\/a>\u00a0as \u201ccomical\u201d<\/li>\n<\/ul>\n<\/li>\n<li>The state system of electronic payments will\u00a0<a href=\"https:\/\/psm7.com\/company\/gosudarstvennaya-sistema-elektronnyx-platezhej-perexodit-na-besshovnyj-rezhim-raboty-24-7.html\" target=\"_blank\" rel=\"noopener\">switch<\/a>\u00a0to seamless 24\/7 operation beginning August 20, 2022.<\/li>\n<li>Ukrposhta has\u00a0<a href=\"https:\/\/psm7.com\/company\/ukrposhta\/ukrposhta-zakupaet-bankovskie-terminaly-i-gotovitsya-vypustit-platezhnuyu-kartu.html\" target=\"_blank\" rel=\"noopener\">bought<\/a>\u00a0bank terminals and is preparing to issue a payment card as it works to transform into a commercial bank.<\/li>\n<li>Oschadbank has\u00a0<a href=\"https:\/\/www.epravda.com.ua\/rus\/news\/2022\/01\/18\/681543\/\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0a service that allows smartphones with an NFC module and an Android version of 8.0 or higher to be used as a POS terminal.<\/li>\n<li>The\u00a0<em>Seventh Legal Banking Forum<\/em>\u00a0will be held in Kiev at the Premier Palace Hotel on February 16, 2022. Register\u00a0<a href=\"https:\/\/pravo.ua\/event\/banking2022\/\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/li>\n<\/ul>\n<p><strong>Belarus<\/strong><\/p>\n<ul>\n<li>Alexander Yuldashev, deputy director general of the Banking Processing Center,\u00a0<a href=\"https:\/\/myfin.by\/stati\/view\/Moshenniki-zhdut-chtoby-vy-sami-soobshchili-im-lichnye-dannye-uznajte-ka-razvivaetsya-fintekh-v-Belarusi-i-pochemu-ne-stoit-etogo-boyatsya\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0the Belarusian fintech market, including the issues of tokenization and remote identification.<\/li>\n<\/ul>\n<p><strong>Kazakhstan<\/strong><\/p>\n<ul>\n<li>Timur Turlov, chairman of the board of directors of Freedom Finance, has called Kazakhstan\u2019s fintech market one of the most\u00a0<a href=\"https:\/\/inbusiness.kz\/ru\/news\/kazahstanskij-finteh-ne-huzhe-mirovyh\" target=\"_blank\" rel=\"noopener\">developed<\/a>\u00a0in the world.<\/li>\n<li>President Kassym-Jomart Tokayev has\u00a0<a href=\"https:\/\/tass.ru\/ekonomika\/13545119\" target=\"_blank\" rel=\"noopener\">proposed<\/a>\u00a0opening a Central Asian information technology (IT) school.<\/li>\n<li>Jusan Bank is\u00a0<a href=\"https:\/\/tengrinews.kz\/money\/tech-shkola-finteha-obrazovatelnyiy-proekt-jusan-singularity-460270\/\" target=\"_blank\" rel=\"noopener\">working<\/a>\u00a0on the creation of Jusan Singularity, an educational hub that will train Java, iOS, Android, Frontend, DevOps developers.<\/li>\n<li>Crypto mining company\u00a0<a href=\"https:\/\/kapital.kz\/finance\/102473\/kriptomayningovaya-kompaniya-perechislit-300-mln-tenge-v-k-azak-stan-khalk-yna.html\" target=\"_blank\" rel=\"noopener\">Genesis Digital Assets<\/a>\u00a0is planning to transfer KZT 300 million to the Kazakhstan Khalkyna Fund in order to support the development of the country.<\/li>\n<li>Fintech giant Kaspi.kz has submitted a\u00a0<a href=\"https:\/\/biz.nv.ua\/finance\/kaspi-kazahskiy-neobank-ne-otkazalsya-ot-planov-kupit-bta-bank-novosti-ukrainy-50214114.html?utm_content=set_lang\" target=\"_blank\" rel=\"noopener\">package<\/a>\u00a0of documents to the National Bank of Ukraine to obtain permission to acquire BTA Bank.<\/li>\n<\/ul>\n<p><strong>Kyrgyzstan<\/strong><\/p>\n<ul>\n<li>Daniil Vartanov, an IT specialists and expert on cryptocurrencies and blockchain, has\u00a0<a href=\"https:\/\/ru.sputnik.kg\/20220202\/kyrgyzstan-kriptovalyuty-mayning-energetika-1061718774.html\" target=\"_blank\" rel=\"noopener\">stated<\/a>\u00a0that cryptocurrency mining can benefit Kyrgyzstan as it will monetize excess electricity.<\/li>\n<\/ul>\n<p><strong>Uzbekistan<\/strong><\/p>\n<ul>\n<li>President Shavkat Mirziyoyev has\u00a0<a href=\"https:\/\/podrobno.uz\/cat\/politic\/mirziyeev-predlozhil-razrabotat-strategii-sotrudnichestva-s-indiey-v-obrazovanii-meditsine-i-it-\/\" target=\"_blank\" rel=\"noopener\">proposed<\/a>\u00a0the development of strategies for cooperation with India in several areas, including the introduction of digital innovations, fintech and blockchain technologies and cybersecurity.<\/li>\n<li>InfinBANK has\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/01\/28\/infinbank\/\" target=\"_blank\" rel=\"noopener\">developed<\/a>\u00a0its own bank card processing system, which will help the bank maintain an independent card policy, establish direct partnerships with Visa and UnionPay systems and automate card issuance business processes.<\/li>\n<li>Ravnaq-bank, together with OCTO Developer, has\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/01\/28\/ravnaq-bank\/\" target=\"_blank\" rel=\"noopener\"><u>implemented<\/u><\/a>\u00a0the tokenization of Mastercard cards in the RBK-Mobile app.<\/li>\n<\/ul>\n<p><strong>Azerbaijan<\/strong><\/p>\n<ul>\n<li>Elman Rustamov, chairman of the Central Bank of Azerbaijan, has\u00a0<a href=\"https:\/\/report.az\/ru\/finansy\/elman-rustamov-ne-vidim-ugroz-so-storony-rynka-kriptovalyut\/\" target=\"_blank\" rel=\"noopener\">state<\/a><a href=\"https:\/\/report.az\/ru\/finansy\/elman-rustamov-ne-vidim-ugroz-so-storony-rynka-kriptovalyut\/\" target=\"_blank\" rel=\"noopener\">d<\/a>\u00a0that cryptocurrencies do not currently represent a serious threat to Azerbaijan&#8217;s financial market.<\/li>\n<li>Kapital Bank has\u00a0<a href=\"https:\/\/smebanking.news\/ru\/gejdar-sulejmanov-99-5-nekreditnyx-produktov-i-uslug-dlya-msb-kapital-bank-realizuet-cherez-cifrovye-kanaly\/\" target=\"_blank\" rel=\"noopener\">almost<\/a>\u00a0completely digitized non-lending products and services for small- and medium-sized businesses.<\/li>\n<\/ul>\n<p><strong>Armenia<\/strong><\/p>\n<ul>\n<li>Hovhannes Khachatryan, a candidate for deputy chairman of the Central Bank of Armenia,\u00a0<a href=\"https:\/\/ru.armeniasputnik.am\/20220118\/nuzhno-podumat-o-vypuske-tsifrovoy-valyuty---kandidat-v-zampredy-tsentrobanka-armenii-37654748.html\" target=\"_blank\" rel=\"noopener\">believes<\/a>\u00a0that Armenia should seriously consider the issuance of its own digital currency.<\/li>\n<li>Ardshinbank customers can now use\u00a0<a href=\"https:\/\/finport.am\/full_news.php?id=45383&amp;lang=2\" target=\"_blank\" rel=\"noopener\">Apple Pay<\/a>\u00a0on iPhones, iPads and Macs.<\/li>\n<li>VTB Bank (Armenia) has\u00a0<a href=\"https:\/\/finport.am\/full_news.php?id=45455&amp;lang=2\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0the VTB-in service, which allows users abroad to send money transfers from anywhere in the world directly into the VTB accounts of friends and family. The service also allows for transfers from local bank cards to VTB accounts.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-16622 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Sberbank offers online loan process to SMEs'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/sberbank-offers-online-loan-process-to-smes\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/closeup-of-business-woman-hand-typing-on-laptop-keyboard_1232-2750-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9888\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9888'>\n\t\t\t\tSberbank offers online loan process to SMEs\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='5 mistakes that cause FinTech startups to fail'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/5-mistakes-that-cause-fintech-startups-to-fail\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/02\/5-mistakes-that-cause-fintech-startups-to-fail-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12326\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12326'>\n\t\t\t\t5 mistakes that cause FinTech startups to fail\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='How digital banks are raising the bar for customer experience'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/how-digital-banks-are-raising-the-bar-for-customer-experience\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/06\/great-isometric-user-experience_23-2147546971-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-10250\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/06\/great-isometric-user-experience_23-2147546971-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/06\/great-isometric-user-experience_23-2147546971-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/06\/great-isometric-user-experience_23-2147546971.jpg 626w\" 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-1-10250'>\n\t\t\t\tHow digital banks are raising the bar for customer experience\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 latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World #Reports and Studies According to KPMG\u2019s\u00a0Pulse of Fintech H2\u201921\u00a0report, total investments in fintech in 2021 exceeded USD 210 billion. Data from\u00a0Coin Metrics\u00a0suggests that the number of transactions using smart contracts has grown to &hellip;<\/p>\n","protected":false},"author":12,"featured_media":16605,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[473],"tags":[80,399,184,35,30,70,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16622"}],"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=16622"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16622\/revisions"}],"predecessor-version":[{"id":16623,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16622\/revisions\/16623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/16605"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=16622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=16622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=16622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}