There are 73m active bank users, creating a huge amount of customer data which remains underexploited. Nigeria’s national target is for 95% of the adult population to have access to formal or informal financial services by 2024.
The findings of UBS' Banking and Financial Services Division are interesting. They reflect the major concerns of their clients as global economies emerge tentatively from the disruption of the pandemic.
Today’s news by Amundi shows a strong result so far in 2021. Some of the takeaways of the financial statements for the second quarter of 2021 were summarized by their CEO, Valérie Baudson, who spoke about their Medium-Long-Term (MLT) Assets amongst other things:
This is the Bankers for Net Zero initiative, set up by All Party Parliamentary Group (APPG) on Fair Business Banking and transformation-focused business advisory firms Volans and Re:Pattern. In particular, they aim to demonstrate how banks and capital can be leveraged to help finance the path to a net-zero future.
Fraser shared her policy regarding cryptocurrency before the U.S. Senate Banking Committee last month. She shared how her company was taking a ‘measured approach’ to cryptocurrency as the bank sought “to understand changes in the digital asset space and the use of distributed ledger technology, including demand and interest by our clients, regulatory developments and technology advancements.”
The Consumer Price Index (CPI) measure of inflation was released today, showing that the rate of inflation in the UK has jumped to 2.1% in the year to May. This was above market forecasts of around 1.8% and is slightly above the Bank of England’s target of 2%.
In the United Kingdom, there appears to be strong political momentum behind a digital pound: earlier this year, Chancellor of the Exchequer Rishi Sunak announced that the Bank of England was to look at developing a central bank-backed digital currency - “Britcoin.”
If the state refuses to bring forward UBI proposals, for either ideological or practical reasons, why not create a parallel economy where like-minded people establish something similar amongst themselves?
Right now banks are going around and competing against each other with bows and arrows. But the real enemy is the big technology firms; they’re using AI, laser guns, digital weapons, which is way beyond what the banks are doing.
Starling Bank, is a digital challenger founded by Anne Boden in 2014. They launched their first national brand awareness campaign in 2019 to target both consumers and business account holders.
The creative agency Ekstasy is helping Starling Bank.
With the drive for efficiency, a lot of traditional banks are looking to emulate the approach to hyper-personalisation that Big Tech firms like Amazon, Netflix and Apple have used, successfully. Find out how SunTec are helping them.
The BIS Innovation Hub’s geographic footprint is growing to include centres in London, Toronto, Stockholm, Paris and Frankfurt, as well as a strategic partnership with the Federal Reserve Bank of New York.
Welcome to #DisruptionBanking—a Digital StartUp platform dedicated to new age banking, financial technology and the emerging markets between them. Join our global readership to keep up to date with the latest business, tech and partnership models.