{"id":16766,"date":"2022-07-22T09:40:23","date_gmt":"2022-07-22T09:40:23","guid":{"rendered":"https:\/\/bulletins.bfconsulting.com\/?p=16766"},"modified":"2022-07-22T09:41:42","modified_gmt":"2022-07-22T09:41:42","slug":"bfc-fintech-monitor-23rd-june-20th-july","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-23rd-june-20th-july\/","title":{"rendered":"BFC FinTech Monitor (23rd June \u2014 20th July)"},"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 a study by NTT Data, banks have a\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40679\/banks-choosing-to-build-and-not-buy-tech-suggests-survey\" target=\"_blank\" rel=\"noopener\">preference<\/a>\u00a0for creating technological solutions rather than buying them. At the same time, only 22% of banks are prepared to create entire systems from scratch.<\/li>\n<li>The volume of investment in fintech fell 33% in Q2 2022, with the\u00a0<a href=\"https:\/\/www.cbinsights.com\/research\/report\/venture-trends-q2-2022\/\" target=\"_blank\" rel=\"noopener\">average<\/a>\u00a0transaction amount down to USD 23 million (itself a 30% decrease). Interestingly, the number of transactions has not seen a decline.<\/li>\n<li>A new report from Yapily indicates that the\u00a0<a href=\"https:\/\/paymentexpert.com\/2022\/07\/06\/yapily-open-banking-sector-continues-to-mature-across-europe\/\" target=\"_blank\" rel=\"noopener\">concept<\/a>\u00a0of opening banking in Europe is becoming more and more integrated and useful, especially in Germany, Sweden and the UK.<\/li>\n<li>Visa\u2019s 2022 Future of Urban Mobility study\u00a0<a href=\"https:\/\/www.nfcw.com\/2022\/07\/13\/377951\/visa-survey-identifies-capped-contactless-fare-payments-as-key-driver-of-more-frequent-public-transportation-usage\/\" target=\"_blank\" rel=\"noopener\">shows<\/a>\u00a0that cashless payment options is making public transport a more popular option, with 45% of study respondents indicating that they use municipal transport because of the ease of buying a ticket now.<\/li>\n<li>FT Partners Research\u00a0<a href=\"https:\/\/ftpartners.docsend.com\/view\/ihnz564x98bvxj74\" target=\"_blank\" rel=\"noopener\">released<\/a>\u00a0a report showing that the amount of funding for the fintech industry in Q1 2022 amounted to USD 37 billion, making it the third-largest quarter in terms of money raised and the most active in terms of number of transactions (1,091).<\/li>\n<\/ul>\n<p><strong>#Innovations and Neobanking<\/strong><\/p>\n<ul>\n<li>ING and NXP Semiconductors are working with Samsung to test the\u00a0<a href=\"https:\/\/www.finextra.com\/pressarticle\/93315\/ing-nxp-and-samsung-join-forces-for-new-method-of-mobile-payment\/payments\" target=\"_blank\" rel=\"noopener\">NEAR<\/a>\u00a0payment method, which allows payments to be conducted through the close proximity of smartphones and with no need to enter card numbers, usernames or phone numbers.<\/li>\n<li>The Russian\u00a0<a href=\"https:\/\/ria.ru\/20220711\/swift-1801644984.html\" target=\"_blank\" rel=\"noopener\">analogue<\/a>\u00a0to the SWIFT system is ready for piloting.\u00a0<a href=\"https:\/\/www.banki.ru\/news\/lenta\/?id=10968648\" target=\"_blank\" rel=\"noopener\">According<\/a>\u00a0to the head of the Central Bank of Russia, Elvira Nabiullina, 70 foreign banks from 12 countries have already joined the new system.<\/li>\n<\/ul>\n<p><strong>#Cryptocurrencies, Blockchain and Non-Fungible Tokens (NFTs)<\/strong><\/p>\n<ul>\n<li>A Ripple\u00a0<a href=\"https:\/\/ripple.com\/insights\/cbdcs-the-future-of-fiat\/\" target=\"_blank\" rel=\"noopener\">survey<\/a>\u00a0indicates that three quarters of financial institutions globally are planning to integrate cryptocurrencies into their business if allowed by legislation.<\/li>\n<li>A recent CoinGecko\u00a0<a href=\"https:\/\/assets.coingecko.com\/reports\/2022-Q2-Report\/CoinGecko-2022-Q2-Report.pdf\" target=\"_blank\" rel=\"noopener\">report<\/a>\u00a0states that the total capitalization of the cryptocurrency market fell by more than 50% in Q2 2022, a sign that this entire year may be problematic for the crypto industry.<\/li>\n<li>Fintech startup\u00a0<a href=\"https:\/\/cryptosaurus.tech\/plaid-adds-crypto-exchange-to-its-network-3\/\" target=\"_blank\" rel=\"noopener\">Plaid<\/a>\u00a0has added a number of major crypto exchanges to its platform, including Binance, Gemini, Robinhood and SoFi.<\/li>\n<li>The UN Conference on Trade and Development has\u00a0<a href=\"https:\/\/unctad.org\/system\/files\/official-document\/presspb2022d8_en.pdf\" target=\"_blank\" rel=\"noopener\">published<\/a>\u00a0a report on digital assets that recommends developing countries limit cryptocurrency advertising.<\/li>\n<li><a href=\"https:\/\/www.fsb.org\/wp-content\/uploads\/P110722.pdf\" target=\"_blank\" rel=\"noopener\">G20<\/a>\u2019s Financial Stability Board will release recommendations on the regulation of cryptocurrencies in October.<\/li>\n<li>The European Council and European Parliament have\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40562\/eu-reaches-agreement-on-landmark-mica-regulation-for-crypto\" target=\"_blank\" rel=\"noopener\">agreed<\/a>\u00a0on a proposal related to crypto-asset markets. To enhance consumer protection and combat fraud, the proposal requires that service providers with crypto assets get permission to operate in the EU.<\/li>\n<li>US Senator Cynthia Lummis from Wyoming has\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-19\/crypto-bill-unlikely-to-get-senate-vote-this-year-lummis-says\" target=\"_blank\" rel=\"noopener\">stated<\/a>\u00a0that the US will pass cryptocurrency regulations in 2023.<\/li>\n<li>The Bank of England has\u00a0<a href=\"https:\/\/www.bankofengland.co.uk\/-\/media\/boe\/files\/financial-stability-report\/2022\/fsr-press-conference-transcript-july-2022.pdf\" target=\"_blank\" rel=\"noopener\">called<\/a>\u00a0for the regulation of cryptocurrencies along the lines of traditional finance in order to reduce risks and increase investor confidence.<\/li>\n<li>The European Central Bank has called\u00a0<a href=\"https:\/\/www.ecb.europa.eu\/pub\/financial-stability\/macroprudential-bulletin\/html\/ecb.mpbu202207_1~750842714e.en.html\" target=\"_blank\" rel=\"noopener\">stablecoins<\/a>\u00a0an unsuitable means of payment.<\/li>\n<li><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/07\/28043800\/delio-koreas-first-crypto-bank-service-launch\" target=\"_blank\" rel=\"noopener\">Delio<\/a>\u00a0has opened the first cryptocurrency bank in South Korea. Delio customers are able to deposit and withdraw cryptocurrencies, make transfers to other users and manage wallets.<\/li>\n<\/ul>\n<p><strong>#Central Bank Digital Currencies (CBDCs)<\/strong><\/p>\n<ul>\n<li>The Bank for International Settlements (BIS) has\u00a0<a href=\"https:\/\/www.bis.org\/publ\/othp52.htm\" target=\"_blank\" rel=\"noopener\">called<\/a>\u00a0on countries to cooperate in the early stages of developing CBDCs.<\/li>\n<li>The Danish Central Bank has\u00a0<a href=\"https:\/\/www.ledgerinsights.com\/denmark-cbdc-trust-anchor-digital-money\/\" target=\"_blank\" rel=\"noopener\">released<\/a>\u00a0a report on new types of digital money. It states that, if stablecoins are to become mainstream, CBDCs will be perceived as a safer payment method (even compared to bank deposits).<\/li>\n<li>The European Central Bank has\u00a0<a href=\"https:\/\/www.ecb.europa.eu\/press\/blog\/date\/2022\/html\/ecb.blog220713~34e21c3240.en.html\" target=\"_blank\" rel=\"noopener\">released<\/a>\u00a0materials stating that the digital euro will only be successful if it is actively used by EU residents.<\/li>\n<\/ul>\n<p><strong>#Miscellaneous<\/strong><\/p>\n<ul>\n<li>The Financial Times is\u00a0<a href=\"https:\/\/www.ft.com\/content\/338eda46-04e5-46b3-a71d-a429d21c490c\" target=\"_blank\" rel=\"noopener\">reporting<\/a>\u00a0that the value of the largest fintech companies has decreased by USD 500 billion since the beginning of the year.<\/li>\n<li>A payment function that uses the\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40663\/instagram-adds-payments-in-chat\" target=\"_blank\" rel=\"noopener\">Meta Pay<\/a>\u00a0service is now available in Instagram chats.<\/li>\n<li>G20\u2019s Financial Stability Board has\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40604\/fsb-sets-out-performance-indicators-for-progress-on-boosting-cross-border-payments\" target=\"_blank\" rel=\"noopener\">published<\/a>\u00a0an interim report on monitoring progress towards improving cross-border payments. The report includes preliminary recommendations for key performance indicators as well as ideas for potential data sources to measure them.<\/li>\n<li>Google has launched the\u00a0<a href=\"https:\/\/wallet.google\/\" target=\"_blank\" rel=\"noopener\">Wallet app<\/a>\u00a0for storing bank cards, vaccination certificates and other important documents. The app is also looking to add functionality that will allow for the storage of identity cards and a driver&#8217;s licenses.<\/li>\n<li>Mass cases of chargeback fraud are\u00a0<a href=\"https:\/\/techcrunch.com\/2022\/07\/18\/african-fintechs-halt-virtual-dollar-cards-after-union54-chargeback-fraud-surge\/\" target=\"_blank\" rel=\"noopener\">resulting<\/a>\u00a0in African users of virtual dollar cards losing their ability to use them in the near future. This will affect cards from the fintech startups Flutterwave, Eversend, Busha, GetEquity and Payday.<\/li>\n<li>The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand are\u00a0<a href=\"https:\/\/www.nfcw.com\/2022\/07\/19\/378054\/central-banks-in-five-se-asian-countries-to-create-common-contactless-qr-payments-zone\/\" target=\"_blank\" rel=\"noopener\">developing<\/a>\u00a0a common cross-border QR payment system.<\/li>\n<li>Qatar National Bank has become the first bank in Qatar to\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40577\/wechat-pay-and-alipay-launch-in-qatar\" target=\"_blank\" rel=\"noopener\">launch<\/a>\u00a0WeChat Pay and AliPay+ mobile payment services.<\/li>\n<li><a href=\"https:\/\/nairametrics.com\/2022\/07\/15\/africas-burgeoning-tech-start-up-sector-in-the-face-of-a-global-economic-slowdown\/\" target=\"_blank\" rel=\"noopener\">Nairametrics<\/a>\u00a0expects that the African startup ecosystem will be able to resist even in the face of the looming global economic crisis given that local companies are already focused on solving large local problems such as increasing access to financial services and healthcare.<\/li>\n<li>Meta will close the\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/meta-signals-closure-of-novi-wallet-after-a-10-month-pilot\" target=\"_blank\" rel=\"noopener\">Novi<\/a>\u00a0wallet pilot project starting on September 1, 2022. User from Guatemala and the US participated in the pilot.<\/li>\n<li>Revolut has developed the\u00a0<a href=\"https:\/\/www.irishexaminer.com\/business\/companies\/arid-40911032.html\" target=\"_blank\" rel=\"noopener\">Revolut Reader<\/a>\u00a0payment terminal, which is capable of processing transactions in less than 5 seconds and conducting more than 200 transactions on a single charge. The new solution will be complemented by a fully digital POS service. For now, Revolut Reader is only available to business customers in Ireland and the UK.<\/li>\n<li>The valuation of Swedish fintech company\u00a0<a href=\"https:\/\/techcrunch.com\/2022\/07\/11\/klarna-confirms-800m-raise-as-valuation-drops-85-to-6-7b\/\" target=\"_blank\" rel=\"noopener\">Klarna<\/a>\u00a0has fallen sevenfold, from USD 45.6 billion to USD 6.7 billion. At the same time, the company recently closed a USD 800 million round of investments. Klarna says that it has shown the strength of its business despite &#8220;the worst market downturn in 50 years.&#8221;<\/li>\n<li>Hewlett Packard Enterprise has\u00a0<a href=\"https:\/\/www.finextra.com\/newsarticle\/40561\/hp-and-nvidia-release-unique-fintech-sitcom\" target=\"_blank\" rel=\"noopener\">released<\/a>\u00a0the first episode of\u00a0<em>Get Ahead<\/em>, a mockumentary comedy mini-series about the employees of an AI company. Episodes will air every Thursday.<\/li>\n<li>The European Parliament has\u00a0<a href=\"https:\/\/www.europarl.europa.eu\/news\/en\/press-room\/20220701IPR34364\/digital-services-landmark-rules-adopted-for-a-safer-open-online-environment\" target=\"_blank\" rel=\"noopener\">passed<\/a>\u00a0bills to regulate the algorithms of technology giants, which will now be required to fight against malicious content and the sale of illegal or unsafe goods. In addition, they will be required to explain to users how and why the recommendation system showed them a certain piece of content.<\/li>\n<li>The State Duma of the Russian Federation plans to\u00a0<a href=\"https:\/\/www.moscowtimes.ru\/2022\/07\/13\/gosduma-sobralas-uzakonit-islamskii-banking-a22220\" target=\"_blank\" rel=\"noopener\">legalize<\/a>\u00a0Islamic banking given that the increasing partnerships with Islamic financing instruments.<\/li>\n<\/ul>\n<p dir=\"ltr\"><strong>Ukraine<\/strong><\/p>\n<ul>\n<li>Ekaterina Danilchenko, chairman of the board of the International Bureau of Credit Histories,\u00a0<a href=\"https:\/\/www.raconteur.net\/finance\/fintech\/the-emerging-role-of-fintech-in-times-of-conflict-and-displacement\/\" target=\"_blank\" rel=\"noopener\">noted<\/a>\u00a0that fintech developments in recent years have helped Ukrainians maintain access to basic financial services, even amidst the full-scale Russian invasion.<\/li>\n<li>Privatbank has switched to the\u00a0<a href=\"https:\/\/psm7.com\/bank\/visa-perevela-poslugi-ta-operaci%d1%97-privatbanku-u-xmaru.html\" target=\"_blank\" rel=\"noopener\">Visa Cloud Connect<\/a>\u00a0connection platform and implemented a new way to securely connect to VisaNet via the cloud. This will allow the bank to reduce dependencies on hardware located in different regions of Ukraine.<\/li>\n<li>Ruslan Kolodyazhny, the chief technology officer of British fintech company\u00a0<a href=\"https:\/\/psm7.com\/bank\/popri-obval-na-kriptorinku-chomu-ukra%d1%97nski-banki-mayut-zadumatis-nad-vprovadzhennyam-kriptoproduktiv-vzhe-zaraz.html\" target=\"_blank\" rel=\"noopener\">Wirex<\/a>, explains why Ukrainian banks should consider crypto products now.<\/li>\n<li>Ukrainian fintech fund\u00a0<a href=\"https:\/\/psm7.com\/sontactless-payments\/ukra%d1%97nskij-fintex-fond-n1-investuye-500k-u-proekt-z-texnologiyeyu-tap-to-phone.html\" target=\"_blank\" rel=\"noopener\">N1\u00a0<\/a>has invested USF 500,000 in the TRANSENIX solution, which allows payments made via a smartphone to be accepted.<\/li>\n<li>Nikita Grechina, a senior associate with SBSB FinTech Lawyers,\u00a0<a href=\"https:\/\/www.finextra.com\/blogposting\/22563\/new-ukraines-fintech-legislation-embracing-innovations\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0changes in legislation that will help create a safer and more modern legal environment for fintech companies in Ukraine.<\/li>\n<li>The\u00a0<a href=\"https:\/\/itc.ua\/partner-news\/100-mezhdunarodnyh-investorov-gotovy-podderzhat-ukrainskie-startapy-chto-oni-predlagayut-i-kak-popast-v-programmu\/\" target=\"_blank\" rel=\"noopener\">upSWOT<\/a>\u00a0platform has launched the\u00a0<em>Investors for the Ukrainian World and Ukrainian Startups<\/em>\u00a0charity project. Find out more about the initiative here.<\/li>\n<li>The LEO international payment system and IBOX Bank have\u00a0<a href=\"https:\/\/finchannel.com\/leo-international-payment-system-and-ibox-bank-from-ukraine-supported-the-coding-challenge-for-ukraine-hackathon\/\" target=\"_blank\" rel=\"noopener\">become partners<\/a>\u00a0of Ukrainian hackathon initiatives.<\/li>\n<\/ul>\n<p><strong>Kazakhstan<\/strong><\/p>\n<ul>\n<li>Madina Abylkassymova, chair of the Agency for Regulation and Development of the Financial Market, has\u00a0<a href=\"https:\/\/kapital.kz\/finance\/106940\/predstavlena-kontseptsiya-razvitiya-finsektora.html\" target=\"_blank\" rel=\"noopener\">presented<\/a>\u00a0a draft concept for the development of the financial sector of Kazakhstan through 2030. Among its key principles is the creation of conditions for the development of financial technologies and the introduction of innovative products and services.<\/li>\n<li>Forbes has released an article about how Capital Bank chairman Gani Uzbekov created the\u00a0<a href=\"https:\/\/forbes.kz\/process\/businessmen\/tsifrovoy_shelk_1658112296\" target=\"_blank\" rel=\"noopener\">S1LKPAY<\/a>\u00a0payment service.<\/li>\n<li>Kairat Kelimbetov, governor of the Astana International Financial Center (AIFC), has\u00a0<a href=\"https:\/\/kapital.kz\/finance\/106839\/konvertirovat-kriptovalyuty-v-nalichnyye-nuzhno-cherez-banki.html\" target=\"_blank\" rel=\"noopener\">stated<\/a>\u00a0the need to require cryptocurrencies be converted into cash through financial institutions as a way of fighting money laundering.<\/li>\n<li>The Kazakh regulator has\u00a0<a href=\"https:\/\/www.nationalbank.kz\/ru\/news\/press-relizy\/13807\" target=\"_blank\" rel=\"noopener\">l<\/a><a href=\"https:\/\/www.nationalbank.kz\/ru\/news\/press-relizy\/13807\" target=\"_blank\" rel=\"noopener\">aunched<\/a>\u00a0the Interbank System of Payment Cards, which has been designed to process interbank transactions made using payment cards in the country.<\/li>\n<li>The National Bank of Kazakhstan will conduct end-to-end testing of the digital tenge with market participants and consumers in the fourth quarter of this year.<\/li>\n<li>Vitaly Nizhegorodtsev, regional manager of SunFinance Group,\u00a0<a href=\"https:\/\/dknews.kz\/ru\/finansy\/238078-kak-privlech-luchshie-v-mire-finteh-talanty\" target=\"_blank\" rel=\"noopener\">discusses<\/a>\u00a0how Kazakhstan can attract personnel for the development of the fintech industry.<\/li>\n<li>Kazakhstan is becoming an\u00a0<a href=\"https:\/\/kapital.kz\/tehnology\/106889\/kazakhstan-zhdet-tsifrovykh-kochevnikov-kayrat-kelimbetov.html\" target=\"_blank\" rel=\"noopener\">increasing<\/a>\u00a0popular relocation place for many IT specialists and technology startups.<\/li>\n<\/ul>\n<p><strong>Kyrgyzstan<\/strong><\/p>\n<ul>\n<li>Interbank Processing Center has launched\u00a0<a href=\"https:\/\/www.akchabar.kg\/ru\/news\/elkart-mobajl-zapustil-beskontaktnye-platezhi\/\" target=\"_blank\" rel=\"noopener\">ELCART Pay<\/a>, a system of electronic payments from mobile devices made via a mobile app.<\/li>\n<li>An\u00a0<a href=\"https:\/\/www.akchabar.kg\/ru\/news\/kr-budet-sotrudnichat-s-nemeckoj-kompaniej-pri-vnedrenii-cifrovogo-soma\/\" target=\"_blank\" rel=\"noopener\">agreement<\/a>\u00a0has been reached between Germany company Bundesdrueckerei GmbH and Kyrgyzstan regarding the development and implementation of the digital som, which is expected to launch in 2026.<\/li>\n<\/ul>\n<p><strong>Tajikistan<\/strong><\/p>\n<ul>\n<li>Tajik fintech startup\u00a0<a href=\"https:\/\/asiaplustj.info\/ru\/news\/tajikistan\/economic\/20220704\/v-uzbekistane-teper-mozhno-snyat-nalichnie-v-bankomatah-bez-plastikovih-kart-a-kak-v-tadzhikistane\" target=\"_blank\" rel=\"noopener\">Alif<\/a>\u00a0is testing terminals that allow for cash to be withdrawn without the use of plastic cards.<\/li>\n<li>The AI Council has\u00a0<a href=\"https:\/\/mir24.tv\/news\/16515654\/programmy-po-razvitiyu-iskusstvennogo-intellekta-prezentovali-v-dushanbe\" target=\"_blank\" rel=\"noopener\">introduced<\/a>\u00a0five new products in the fields of finance, telecommunications, healthcare, education and sales.<\/li>\n<\/ul>\n<p><strong>Uzbekistan<\/strong><\/p>\n<ul>\n<li>Residents of Uzbekistan can now withdraw cash from ATMs without plastic cards by instead using a smartphone equipped with the\u00a0<a href=\"https:\/\/podrobno.uz\/cat\/tehnp\/v-uzbekistane-zapustili-vozmozhnost-snyatiya-nalichnykh-v-bankomatakh-bez-plastikovykh-kart-\/\" target=\"_blank\" rel=\"noopener\">Quant<\/a>\u00a0app.<\/li>\n<li>Uzpromstroybank has been recognized as the best bank in Uzbekistan by\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/07\/16\/psb-bank\/\" target=\"_blank\" rel=\"noopener\">Euromoney<\/a>\u00a0magazine.<\/li>\n<li>Fintech platform\u00a0<a href=\"https:\/\/thefintechtimes.com\/could-uzbekistans-cashback-superapp-humans-be-the-next-big-fintech\/\" target=\"_blank\" rel=\"noopener\">Humans<\/a>\u00a0has released its financial and operating results for the first half of 2022. Compared to the same period last year, the company&#8217;s revenue grew by 57%, and its number of active users exceeded 2 million people.<\/li>\n<li>TBC Bank has\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/07\/07\/tbc-bank\/\" target=\"_blank\" rel=\"noopener\">launched<\/a>\u00a0the Happiness Center call center that will respond to any question. The aim of the call center is to give positive emotions and encourage repeat calls.<\/li>\n<li>Rustam Rakhmatov, the founder of the fintech startup\u00a0<a href=\"https:\/\/kapital.kz\/business\/107248\/uzbekistanskiy-superapp-nameren-privlech-milliard-pol-zovateley-po-vsemu-miru.html\" target=\"_blank\" rel=\"noopener\">IMAN<\/a>, discusses how halal financial products differ from traditional ones, how much his company has attracted in investments, what difficulties his company has faced and why many project participants do not consider Central Asia for expanding their businesses.<\/li>\n<li><a href=\"https:\/\/www.spot.uz\/ru\/2022\/07\/04\/findex-2021\/\" target=\"_blank\" rel=\"noopener\">According<\/a>\u00a0to a World Bank, one in six residents of Uzbekistan do not trust digital finance.<\/li>\n<li>Kristina Dorosh, Visa\u2019s regional manager in charge of Central Asia and Azerbaijan,\u00a0<a href=\"https:\/\/www.spot.uz\/ru\/2022\/07\/01\/visa\/\" target=\"_blank\" rel=\"noopener\">speaks<\/a>\u00a0about the difficulties international payment systems face in Uzbekistan.<\/li>\n<\/ul>\n<p><strong>Azerbaijan<\/strong><\/p>\n<ul>\n<li>Mobile operator\u00a0<a href=\"https:\/\/www.azercell.com\/ru\/about-us\/press-releases\/news\/azercell-rabite-bazarinda-yeni-biznes-istiqametini-teqdim-edir.html\" target=\"_blank\" rel=\"noopener\">Azercell Telecom<\/a>\u00a0has partnered with PASHA Bank, Visa and AzInTelecom as part of an effort to introduce digital banking services as well as payment cards for subscribers.<\/li>\n<li><a href=\"https:\/\/www.teknotalk.com\/fintex-summitte-finans-ekosistemindeki-yeni-trendler-masaya-yatirildi-114459\/\" target=\"_blank\" rel=\"noopener\">Speaking<\/a>\u00a0at the\u00a0<em>Fintex Summit\u00a0<\/em>in Baku, representatives of the international consulting company Simon-Kucher discuss new trends in the development of financial ecosystems as well as new ways to increase profitability in the banking sector<\/li>\n<li>By the end of the year, the Azerbaijani regulator\u00a0<a href=\"https:\/\/www.trend.az\/azerbaijan\/business\/3610156.html\" target=\"_blank\" rel=\"noopener\">will carry out<\/a>\u00a0inspections of the country\u2019s banks in connection with the introduction of a new ISO 27000 security standard.<\/li>\n<\/ul>\n<p><strong>Armenia<\/strong><\/p>\n<ul>\n<li>Representatives from Armenia and India\u00a0<a href=\"https:\/\/newsonair.com\/2022\/07\/05\/india-armenia-sign-mou-on-high-impact-community-development-projects-in-armenia\/\" target=\"_blank\" rel=\"noopener\">discussed<\/a>\u00a0cooperation in the field of fintech within the framework of the eighth meeting of the intergovernmental commission.<\/li>\n<li>Ameriabank has become the main sponsor of the cybersecurity hackathon featured at\u00a0<a href=\"https:\/\/finport.am\/full_news.php?id=46401&amp;lang=2\" target=\"_blank\" rel=\"noopener\"><em>Tech Week 2022<\/em><\/a>.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-16766 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Microfinance Investing through Uncertainty (24th Annual MFC Conference)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/microfinance-investing-through-uncertainty-24th-annual-mfc-conference\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2022\/06\/aYjEbO1-1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16712\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16712'>\n\t\t\t\tMicrofinance Investing through Uncertainty (24th Annual MFC Conference)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Bank efforts dominating Polish fintech scene'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bank-efforts-dominating-polish-fintech-scene\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/07\/Bank-efforts-dominating-Polish-fintech-scene-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-7023\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/07\/Bank-efforts-dominating-Polish-fintech-scene-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/07\/Bank-efforts-dominating-Polish-fintech-scene-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-1-7023'>\n\t\t\t\tBank efforts dominating Polish fintech scene\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='The potential of biometrics in finance'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/the-potential-of-biometrics-in-finance\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/circuit-board-in-finger-shape_35913-276-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9548\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/circuit-board-in-finger-shape_35913-276-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/circuit-board-in-finger-shape_35913-276-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/circuit-board-in-finger-shape_35913-276.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-1-9548'>\n\t\t\t\tThe potential of biometrics in 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 latest FinTech news and information from around the world in the BFC FinTech Monitor. Around the World #Reports and Studies According to a study by NTT Data, banks have a\u00a0preference\u00a0for creating technological solutions rather than buying them. At the same time, only 22% of banks are prepared to create entire &hellip;<\/p>\n","protected":false},"author":12,"featured_media":16742,"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\/16766"}],"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=16766"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16766\/revisions"}],"predecessor-version":[{"id":16767,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/16766\/revisions\/16767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/16742"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=16766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=16766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=16766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}