November 2020
17Nov

Building Better Retirement Systems in the Wake of the Global Pandemic

By Olivia S. Mitchell In the wake of the global pandemic known as COVID-19, retirees, along with those hoping to retire someday, have been shocked into a new awareness of the need for better risk management tools to handle longevity and aging. This paper offers an assessment of the status quo prior to the spread of the coronavirus, evaluates how retirement systems are faring in the wake of the shock. Next we examine insurance and financial market products that may...

November 17, 2020
Articles, Pension design, System Sustainability, , ,
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October 2020

09Oct

New Finance: In Search for Analytical Framework

By Jan Monkiewicz Since the beginning of the century, modern financial systems have been experiencing a period of dynamic change. These changes have caused the uniform fabric on which the systems were based for a long time to become eroded and a multitude of alternative solutions to appear in their place. The existing systems are becoming increasingly heterogeneous and increasingly less transparent. In addition to the traditional financial system based on highly regulated financial intermediaries with a legal monopoly,...

October 9, 2020
Articles, Digital Financial Services, System Sustainability, ,
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02Oct

Fintech and Financial Literacy in the Lao PDR

By Peter Morgan, Long Q. Trinh A growing literature has examined the role of financial literacy in an individual’s income, saving behavior and the use of various financial products. However, so far, no one has examined the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms. This paper examines this relationship in a developing country, the Lao People’s Democratic Republic (PDR). We use information collected...

October 2, 2020
Articles, Innovation, System Sustainability, , , ,
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02Oct

UK. PensionBee and Plaid team up to call for ‘open pensions’

The two fintechs are calling on the FCA to speed up the introduction of Open Finance to help people view their pensions all in one place. Digital pension provider PensionBee and financial API provider Plaid have joined forces to push for an open finance standard within the pension industry. In a report published by the pair yesterday, Plaid and PensionBee are calling for ‘open pensions’ to be made standard, something which they claim will “improve financial decisions”...

October 2, 2020
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September 2020

24Sep

Impact of Fintech Development on Savings, Borrowing and Remittances: A Comparative Study of Emerging Economies

By Angela Lyons, Josephine Kass-Hanna, Ana Polato e Fava Fintech is rapidly changing the landscape for financial services in terms of accessibility and affordability, especially in this post-COVID era. Digital finance now has the potential to be a game changer for the nearly two billion financially excluded persons in the developing and emerging world. Non-bank providers such as mobile money services have expanded and are leapfrogging ahead of conventional banking services. This study investigates the linkages between fintech development...

September 24, 2020
Articles, Innovation, ,
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24Sep

Big Data, Artificial Intelligence and Machine Learning: A Transformative Symbiosis in Favour of Financial Technology

By Charalampos Stasinakis, Georgios Sermpinis The financial technology revolution is a reality, as the financial world is gradually transforming into a digital domain of high-volume information and high-speed data transformation and processing. The more this transformation takes place, the more consumer and investor behaviour shifts towards a pro-technology attitude of financial services offered by market participants, financial institutions and financial technology companies. This new norm is confirming that information technology is driving innovation for financial technology. In this framework,...

September 24, 2020
Articles, Innovation, Pension Management, , ,
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23Sep

JPMorgan-backed Brazil fintech plans to expand in U.S., Mexico

FitBank Pagamentos Eletronicos SA, a Brazilian fintech backed by JPMorgan Chase, plans to open a U.S. office in the first half of 2021. The payment-services firm, which has more than 100 clients in Brazil, is also expecting to start operations in Mexico, Peru and Colombia sometime next year, according to Chief Executive Otavio Farah. Payment technology “doesn’t vary much from nation to nation,” Farah said in a virtual interview from FitBank’s office in Sao Paulo. “We can really go...

September 23, 2020
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15Sep

Digital financial services

By World Bank Access to affordable financial services is critical for poverty reduction and economic growth. Countries with deeper, more developed financial systems enjoy higher economic growth and larger reductions in poverty and income inequality. Access to financial services also increases opportunities and resilience for the poor, particularly women. Despite this, 65 percent of adults in the world’s poorest economies lack access to even the most basic transaction account that would allow them to send and receive...

September 15, 2020
Books, Digital Financial Services, , ,
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04Sep

Disruptive fintech is our best bet to economic recovery post COVID-19

History has taught us that times of crisis drive demand for technological advancement. Those that leverage innovative technology, to tackle challenges and turn them into opportunities, are often the most successful in helping society to recover. Earlier this year, when the novel coronavirus sparked a global pandemic, physical distancing was enforced around the world to limit the spread of infection. This led to a surge in remote working and a spike in unemployment, sparking technological innovation within a number...

September 4, 2020
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August 2020

21Aug

Digital Finance New Times, New Challenges, New Opportunities

By Juan Antonio Ketterer Since the end of the great crisis of 2007 – 10 , the financial services industry began a process of accelerating change. New business models based on convergent technological developments are challenging the status quo of a long - established a nd traditional industry. The purpose of this document is to consider the...

August 21, 2020
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