DigitalTransformation Archives

CBDCs: A future beyond cash and enhanced cross-border payments, says IMF Chief In a compelling keynote address at the Singapore Fintech Festival, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), called for robust public sector engagement in digital finance. Georgieva emphasized the transformative impact of fintech innovation on global finance and advocated for the exploration and adoption of Central Bank Digital Currencies (CBDCs). Addressing an audience of global leaders and fintech enthusiasts, Georgieva lauded Singapore's pioneering role in the fintech landscape and its significant contribution to bridging global financial divides. Georgieva's address centered on four key themes: the advancements in researching and developing CBDCs, the ongoing journey in the fintech sector, the critical role of the public sector in preparing for future deployment of CBDCs and related platforms, and the necessity for these platforms to be designed to facilitate cross-border payments. Highlighting the potential of artificial intelligence in revolutionizing the fintech industry, Georgieva cited the rapid adoption of ChatGPT as indicative of the swift pace of technological advancements. She noted that while the adoption of CBDCs is in its nascent stages, about 60 percent of countries are actively exploring them, underlining their potential for enhancing financial inclusion, resilience, and efficiency. Georgieva announced the launch of a new CBDC Handbook, aimed at equipping policymakers globally with insights and guidelines on CBDCs. She also discussed the criticality of efficient cross-border payments, the innovative efforts of banks and fintech companies in developing new platforms, and the public sector's initiatives, including the Monetary Authority of Singapore's project Guardian. In concluding, Georgieva emphasized the necessity of collaborative efforts among international institutions, central banks, and finance ministries to steer this new era effectively. She quoted Marcel Proust, highlighting the value of fresh perspectives and the collective strength represented at the Singapore Fintech Festival.

Digital Transformation

CBDCs: A future beyond cash and enhanced cross-border payments, says IMF Chief

In a compelling keynote address at the Singapore Fintech Festival, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), called for robust...

Reported by: editor Updated: November 16, 2023

Eager to share India stack, DPI with other nations: Rajeev

Digital Transformation

Eager to share India stack, DPI with other nations: Rajeev

Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT, Rajeev Chandrasekhar, participated in a virtual conference hosted by the World...

Reported by: editor Updated: September 27, 2023

G20: Pursue reforms for better, bigger, more effective MDBs

Digital Transformation

G20: Pursue reforms for better, bigger, more effective MDBs

The G20 Leaders convened in New Delhi from September 9 to 10, 2023, under the theme of ‘Vasudhaiva Kutumbakam.’ In a historic meeting, they...

Reported by: editor Updated: September 11, 2023

Fintechs should focus on prioritizing customer-centric reliability: Khara

Digital Transformation

Fintechs should focus on prioritizing customer-centric reliability: Khara

SBI’s digital banking platform, YONO, is experiencing remarkable growth owing to its unique nature. It has a financial superstore as well as e-commerce. Its retail...

Reported by: editor Updated: September 6, 2023

Fintechs should invest heavily to protect against cyber threats: FM

Digital Transformation

Fintechs should invest heavily to protect against cyber threats: FM

Fintechs in India are driving more inclusion and influencing India’s financial ecosystem. “Today, fintech has become a robust and dynamic financial inclusion tool. According to...

Reported by: editor Updated: September 5, 2023

Digital Transformation

DPI Revolution: Nilekani Envisions India’s Shift to Online Mega Economy at B20 Summit 2023

“Fundamentally, India is going from an offline, informal, low productivity, multiple set of micro-economies to a single online, formal, high-productivity mega economy, a trend...

Reported by: editor Updated: August 29, 2023

Jio Financial Services and BlackRock to form JV to enter India’s asset management industry

Digital Transformation

Jio Financial Services and BlackRock to form JV to enter India’s asset management industry

Jio Financial Services (JFS) and BlackRock have announced a partnership to form Jio BlackRock, a 50:50 joint venture that combines the respective strengths and...

Reported by: editor Updated: July 27, 2023

Banking Frontiers

All posts tagged "DigitalTransformation"

Digital Transformation

CBDCs: A future beyond cash and enhanced cross-border payments, says IMF Chief

Digital Transformation

Eager to share India stack, DPI with other nations: Rajeev

Digital Transformation

G20: Pursue reforms for better, bigger, more effective MDBs

Digital Transformation

Fintechs should focus on prioritizing customer-centric reliability: Khara

Digital Transformation

Fintechs should invest heavily to protect against cyber threats: FM

Digital Transformation

DPI Revolution: Nilekani Envisions India’s Shift to Online Mega Economy at B20 Summit 2023

Digital Transformation

Jio Financial Services and BlackRock to form JV to enter India’s asset management industry

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