Published on 30 July 2024 News release The Bank of England (the Bank) has today published a Discussion Paper on its approach to innovation in money and payments. Building on the Bank’s work to date, the Discussion Paper asks for responses on the next step in a wide-ranging conversation on how to deliver an ambitious…
Alita Sharon The financial landscape is rapidly evolving, with digital innovations paving the way for more inclusive banking solutions. GXS Bank, a digital bank in Singapore, is at the forefront of this transformation, focusing on gig economy workers, entrepreneurs, and young adults who are often underserved by traditional banking systems. According to the GXS Progress…
The banking sector plays a crucial role in the development of a country’s economy. Especially when the country is at war. With the outbreak of the great war, it became clear that Ukrainian financial institutions are in need of urgent innovative solutions as never before. The constant threat of cyberattacks, customer outflow, a decline in…
The past few years have brought about significant transformations in many areas of our daily lives. From work to communication and entertainment, everything is becoming increasingly digital and tailored to individual needs. The banking industry has witnessed a major shift towards technology-driven and personalised services, pushing us towards a new future that was once considered…
The Open Banking Solutions Market will grow internationally in the future due to changing rules, more cooperation, and integration with cutting-edge technologies. In order to promote financial inclusion, prioritise security and trust, and concentrate on customer-centric solutions, broader use cases, and improved data analytics, it will push ongoing innovation in the financial services sector. The…
AI or not, “data readiness” is the first step to putting bank data to work. By Ryan Jackson Every journey begins with a single step, and for bankers whose 2024 goals include exploring the transformative power of artificial intelligence, that first step is developing a data strategy. Goldman Sachs Research estimated generative AI usage…