February 2019

Chinese firms led global fintech investments in 2018

Chinese companies accounted for almost half of all fintech investments globally last year, according to a report by consulting firm Accenture. Global investment in financial technology (fintech) companies more than doubled to $55.3 billion in 2018, with China making up $25.5 billion in transactions. «Even with the current volatility in global markets and ongoing macroeconomic concerns, investment in the fintech sector remains strong,» said Richard Lumb, group chief executive for financial services at Accenture. Overall, the number of...

Colombia. Más vigilancia para los grupos financieros

Desde el pasado 6 de febrero entró a regir la Ley 1870 de 2017, mediante la cual el ente que supervisa el sector, la Superintendencia Financiera de Colombia (SFC), recibió amplia potestad de vigilancia sobre los trece conglomerados financieros que actualmente existen en el país, cinco locales y ocho extranjeros (ver Informe). La Ley se implementará por etapas. Para mayor claridad, cabe señalar que conglomerados son el conjunto de entidades locales y del exterior con un controlante común (holding...

Perú. Pensiones: Reforma previsional requiere modificar la seguridad social

Este Diario organizó una Mesa redonda para responder preguntas claves sobre el SPP y la ONP. Participaron Elmer Cuba (socio Macroconsult), Giovanna Prialé (presidenta AAFP ) y Farid Matuk (ex jefe del INEI) Economistas sugieren mejorar no solo el Sistema Privado de Pensiones sino la ONP, el programa Pensión 65 y los aportes a Essalud. En esta línea, la cobertura de pensiones y la opción de incluir una pensión universal también fueron tocadas. Los especialistas sostienen que medidas populistas...

Bruselas reprende a España por la elevada desigualdad y pobreza

Cinco años de crecimiento han permitido que España recupere e, incluso, supere el PIB previo a la crisis. Pero las cicatrices de la Gran Recesión aún son muy profundas. Un informe que la Comisión Europea presentará el miércoles y a cuyo borrador ha tenido acceso EL PAÍS advierte de los peligros para la cohesión social que entrañan el elevado desempleo, el “uso generalizado de contratos temporales” y la alta proporción de ciudadanos que permanecen “en riesgo de pobreza o...

Pension Funds Investing In Crypto Is A Big Deal!

Bitcoin is back near $4,000, its highest level since early January. The rally in crypto is across the board as BitcoinCash, Ethereum, Litecoin, Monero and XRP are all at or near their 30-day highs. I believe that much of the recent strength is the market reacting to multiple stories about public pension funds starting to make investments in cryptocurrencies (or at least make those investments public). For me, the first story that attracted my attention was that...

Capitalising on the twin trends of ageing and automation

Both employer and employee must understand the value of upskilling and continuous training, and prioritise these accordingly. Workforces around the world have experienced a number of serious challenges in recent years—from rapid globalisation, to significant business cycle troughs, to fights for gender equality. Two trends, however, are today unprecedented in their scope: widespread societal aging, and the automation of work by intelligent technologies. The confluence of these two trends raises one crucial question: What effect will increased workplace automation...

Philippines. Revitalizing retirement, pensions and social security

If we evolve our thinking about social security, pension, retirement and voluntary savings, could we deliver better socio-economic outcomes for the Philippines and better financial well-being for millions of Filipinos? SUSTAINABLE ECONOMIC PROSPERITY REQUIRES A MATURE CAPITAL MARKET FUELED BY SAVINGS The Philippines has been experiencing a long period of unprecedented growth and prosperity. At the same time, its young population offers a temporary demographic dividend. However, the capital needed for infrastructure to further spur the country’s economic growth is...

Financial Inclusion and Poverty Alleviation: Perspectives from Islamic Institutions and Instruments

By Muhamed Zulkhibri & Abdul Ghafar Ismail This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial...

The Last Mile: Creating Social and Economic Value from Behavioral Insights

By Dilip Soman Most organizations spend much of their effort on the start of the value creation process: namely, creating a strategy, developing new products or services, and analyzing the market. They pay a lot less attention to the end: the crucial “last mile” where consumers come to their website, store, or sales representatives and make a choice. In The Last Mile, Dilip Soman shows how to use insights from behavioral science in order to close that gap. Beginning with an introduction to...

Household Savings in Central Eastern and Southeastern Europe: How Do Poorer Households Save?

By Elisabeth Beckmann (Oesterreichische Nationalbank (OeNB)) Based on a survey of households in 10 Central Eastern European and Western Balkan countries, this paper presents new and unique evidence on which households have savings and how they save. The paper shows that the percentage of savers is low, and savings are frequently informal. Formal savings are dominated by bank savings, and participation in contractual and capital market savings is very low in comparison to high-income countries. Poor households are significantly less...