Story by Charlie Conchie Rachel Reeves’ Treasury has pledged to “embrace” the fintech sector today after a trade body said the industry could bolster the government’s coffers to the tune of £330bn over the next five years. In a policy plan for the sector, sent to Reeves and shared exclusively with City A.M., fintech body…
Singapore, 18 July 2024… The Monetary Authority of Singapore (MAS) today announced that it will commit an additional S$100 million under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0)FSTI was introduced by MAS in June 2015 to support the creation of a vibrant ecosystem for innovation in the financial sector. FSTI 3.0 was by…
Global Finance has announced selections for the World’s Best Financial Innovation Labs as part of The Innovators 2024. A full report on the results will be published in the September print and digital editions, as well as online at GFMag.com. Now in its seventh year, the Best Financial Innovation Labs annual report on the…
New paper ‘Beyond Payments’ identifies four key developments in cross-border digital payments that deliver great opportunities for merchants to create a frictionless, personalized, and extended consumer journey Throughout the past decade, the rapid proliferation of mobile payment solutions has been a key enabler for growing digital economies across Asia and beyond. The robust growth of…
Financial inclusion remains one of the most pressing challenges in Asia, particularly for underserved populations in both rural and urban areas. Despite the rapid economic growth in many Asian countries, a significant portion of the population still lacks access to essential financial services. Fintech is critical to bridging this divide, offering sustainable lending solutions that…
Kwami Ahiabenu Open banking is breaking down the walls of silos within the financial sector. Historically, banking was designed to be conservative and highly compartmentalised to safeguard funds and maintain customer trust. Over time, technological advancement has radically transformed banking into an open field characterized by multiple innovations. Today, banks are competing…
Artificial intelligence (AI) is one of the most transformative technologies in the world – and Canada is playing a leading role in its global implementation. This country has a rich history of AI innovation, world-class postsecondary programs, homegrown AI pioneers and many of the world’s top AI researchers (in 2022 Canada produced more AI publications…
The Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA) today announced the global call for nominations for the 2024 Singapore FinTech Festival (SFF) FinTech Excellence Awards (the Awards) [1] . In its ninth year, the Awards, supported by PwC Singapore, seeks to recognise innovative FinTech solutions by corporates [2] and individuals who are leaders in spearheading…
The Australian Banking Association (ABA) has unveiled the findings of a strategic review into the progress of the country’s Consumer Data Right (CDR) initiative, four years after its initial implementation. Key Findings At the end of 2023, 0.31% of bank customers had an active data sharing arrangement. This compares unfavourably with consumer adoption of other…
The Global Online Banking Market Size is to Grow from USD 12.87 Billion in 2023 to USD 44.89 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.31% during the projected period. A payment service that enables consumers to conduct financial transactions online is called online banking. Convenience is its primary appeal, thus…