FinancialInnovation Archives

Banking

NPCI International and Eurobank Forge Strategic Alliance to Transform Cross-Border Payments Using UPI Rails

In a groundbreaking move towards revolutionizing cross-border payments, NPCI International Payments Limited (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), and...

Reported by: editor Updated: February 29, 2024

FirstOntario Partners with Flinks and Everlink to Pioneer Open Banking Services

Digital Transformation

FirstOntario Partners with Flinks and Everlink to Pioneer Open Banking Services

Canadian credit union, FirstOntario, has strategically collaborated with API developer Flinks and paytech Everlink to fortify its open banking services in anticipation of Canada’s...

Reported by: editor Updated: January 10, 2024

UPI to lead 90% of Indian payments by 2027, boosting retail sales & fintech: Report

Digital Transformation

UPI to lead 90% of Indian payments by 2027, boosting retail sales & fintech: Report

A report from Redseer Strategy Consultants forecasts that by 2027, Unified Payments Interface (UPI) will lead 90% of payments in India, a testament to...

Reported by: editor Updated: December 14, 2023

IMF launches comprehensive guide on CBDCs

Digital Transformation

IMF launches comprehensive guide on CBDCs

In a significant move to shape the future of digital finance, the International Monetary Fund (IMF) has unveiled a detailed Central Bank Digital Currency...

Reported by: editor Updated: November 20, 2023

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

Digital Transformation

IFC, MAS, and World Economic Forum join forces to enhance digital financial inclusion in developing markets

In a significant move to boost digital inclusivity in emerging and developing economies, the International Finance Corporation (IFC), the Monetary Authority of Singapore (MAS),...

Reported by: editor Updated: November 16, 2023

Fintech

YouTrip Secures $50 Million in Series B Financing for Expansion

Singapore-based fintech company, YouTrip, renowned for its multi-currency digital wallet, has successfully garnered $50 million in its Series B funding round. With Lightspeed Ventures...

Reported by: editor Updated: October 26, 2023

Global partnership forum discusses digital financial inclusion for SMEs

Digital Transformation

Global partnership forum discusses digital financial inclusion for SMEs

The Fourth G20 Global Partnership for Financial Inclusion (GPFI) meeting, taking place in Mumbai from September 14 to 16, 2023, is set to address...

Reported by: editor Updated: September 16, 2023

Banking Frontiers

All posts tagged "FinancialInnovation"

Banking

NPCI International and Eurobank Forge Strategic Alliance to Transform Cross-Border Payments Using UPI Rails

Digital Transformation

FirstOntario Partners with Flinks and Everlink to Pioneer Open Banking Services

Digital Transformation

UPI to lead 90% of Indian payments by 2027, boosting retail sales & fintech: Report

Digital Transformation

IMF launches comprehensive guide on CBDCs

Digital Transformation

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

Digital Transformation

IFC, MAS, and World Economic Forum join forces to enhance digital financial inclusion in developing markets

Fintech

YouTrip Secures $50 Million in Series B Financing for Expansion

Digital Transformation

Global partnership forum discusses digital financial inclusion for SMEs

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