BPI steps up digital banking

 Bank of the Philippine Islands (BPI) president and CEO Cezar P. Consing said the bank’s digitalization efforts is currently going through an upgrade to a version he calls “2.0” in anticipation of higher online and mobile-based banking services even post-COVID-19 period, and it will cut costs both for the bank and its clients. 

Bank of the Philippine Islands (BPI) president and CEO Cezar P. Consing

“BPI right now is done with digitalization stage ‘1.0’, we’re moving to ‘2.0’. I’m sure we’ll get to ‘3.0’ after that. But we intend to stay in front of this,” Consing said during the virtual 5th AYALA-Finex Finance Summit Part 2.

In a follow up email query, Consing said digitalization for BPI will be a continuing process. “We measure progress by the reduction in our cost-to-income ratio, all other things being equal. Broadly, getting from BPI Digital 1.0 to BPI Digital 2.0 should reduce our

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Singaporean fintech firm Atlantis launches digital bank in India

Neo banking is an online concept where there are no physical branches of a bank and customers transact all services digitally.

Singapore-based fintech company Atlantis on Monday said it has entered the Indian market with the launch of digital bank, Neo-Bank.

Eyeing the USD 15.7 billion global millennial banking industry, Atlantis, a Singapore-headquartered fintech company has announced the launch of Neo-Bank for Gen Z and millennials, Atlantis said in a release.

The financial value of millennials to the banking system is expected to increase by almost 80 per cent in the next five years to more than USD 27 billion from the current USD 15.7 billion in revenue that millennials contribute.

The company believes that customer-first intelligent systems and design will drive the future of neo-banking, it said. Neo banking is an online concept where there are no physical branches of a bank and customers transact all services digitally.

Neo-Bank

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Mesh Laundry Bags Sale

This Mesh Laundry Bags 7 Piece Set with excellent reviews is only $8.49 (55% off) at Amazon right now!

Mesh bags protect your garments

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SHOPPING ONLINE: THE RISE OF DIGITAL PAYMENTS – Newspaper

E-commerce in Pakistan has seen a steady rise, but many still distrust digital payments and online market places, preferring sticking to in-person transactions. But Covid-19 forced customers and businesses to give online shopping and payment solutions a chance, making even some sceptics see the benefits of cashless transactions. Now that lockdowns are lifting, will these new users go back offline?

“How often do you find yourself paying with cash, writing checks, or interacting with bond certificates?” begins a 2017 Inc magazine article, predicting that cash is on its way to becoming obsolete. Depending on where in the world one is based, the answer to the question above may well be, ‘rarely.’ In countries such as the US, apps including Venmo let one transfer money to friends and even instantly pay rent. People pay bills online. And services like Apple Pay are even making in-store shopping possible, without needing as much

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Digital banking trailblazer UnionBank is Phl’s ‘Best Bank for SMEs’

Three-time “Best Digital Bank” winner, Union Bank of the Philippines (UnionBank), was recently acclaimed as the Philippines’ Best Bank for SMEs, by Asiamoney. 

This latest award comes on the heels of UnionBank’s citation as the top 2 ‘Most Helpful Banks in Asia-Pacific during COVID-19”by BankQuality.com.  

It also underscores UnionBank’s primary goal of using its digital expertise to extend more financial services to all Filipinos, including the strategically-vital small and medium enterprises (SMEs) who comprise about 99% of the country’s registered businesses. 

UnionBank was honored for providing better funding opportunities to small businesses which are the engines of growth and innovation in the country. 

“The potential for SMEs in the Philippines is huge but too many small retailers, who are unable to access the conventional banking system, turn to loan sharks. By helping bring these companies into the financial system, UnionBank is making an admirable contribution not just to its own

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Digital Transforming Consulting Market Receives Significant Impetus During COVID-19 Outbreak; Demand to Sustain Post Pandemic

The MarketWatch News Department was not involved in the creation of this content.

Sep 07, 2020 (TS Newswire via Comtex) —
KD Market Insights has published a report on global Digital Transforming Consulting market research report. The report offers valuable market insights drivers which would aid the industry leaders to develop and line up their market strategies supported by reliable and accurate data. According to KD Market Insights report, the global Digital Transforming Consulting market is expected to grow at a CAGR of XX.X% during the forecast period i.e. 2020-2025. The market was held to USD XX.X Million in 2019 and is projected to reach to a valuation of USD XX.X Million in 2025. The report covers a detailed chapter on market segmentation of Digital Transforming Consulting market covering market segments by End User, Enterprise Size, Services.

The report offers an exhaustive analysis of the market trends, opportunities,

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Ecobank Digital Series: Vanguard Conferences and Economic Forum Series Partners Ecobank to Convene Digital Financial inclusion Summit

Ecobank

Ecobank Nigeria, in partnership with Vanguard Conferences and Economic Forum Series have announced that it is convening a Digital Financial inclusion Summit to drive, promote and deepen financial inclusion amongst the unbanked and underbanked population in Nigeria. Current statistics shows that 84.6 million Nigerians accounting for 47% of the population are unbanked, against mobile phone penetration which is up to 94.5%.

The Digital Financial Inclusion Summit slated for October 21st, will bring together trade groups and associations with large unbanked populations and individuals within the lower rung of the society who have not seen the need to be included in the financial sector or adopt financial services through digital platforms. This is a direct response to encourage the adoption of innovative payment solutions and digital banking services in the post covid-19 era.

Announcing the summit in Lagos, Head, Consumer Banking, Olukorede Demola-Adeniyi said the Digital Financial Inclusion Summit will

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5G SA: Empowering Digital Transformation Across Industries

PARTNER FEATURE

Bai Gang Vice General Manager of RAN Products, ZTE

With the curtain on 5G pulled back in 2019, the pace of 5G deployment is accelerated worldwide. On the one hand, 5G will deliver higher capacity to meet the growing demand for mobile data; on the other hand, the smart internet of everything (IoE) infrastructure with 5G at its core will gradually take shape in the next few years, empowering digital transformation in every industry. Standalone (SA) 5G will play a key role in the digital transformation of industry. A survey published by GSMA at the end of 2019 found that about 70% of operators plan SA launches in three years. While 2019 was the first year of 5G commercialization, 2020 is the first year of 5G SA.

5G SA Empowering Vertical Industries

In recent years, worldwide operators have encountered growth bottlenecks, witnessing a continuous decline in mobile service

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Forrester Announces Webcast Series To Help Financial Services Firms In India Reimagine Digital Experiences For Post-Pandemic World

NEW DELHI, Sept. 24, 2020 /PRNewswire/ — Forrester (NASDAQ: FORR) today announced its India Financial Services Webcast Week 2020, featuring five complimentary webcasts held from 5–9 October to help firms reimagine their digital efforts. Accelerating digital capabilities is critical to Indian financial services firms’ success, especially as they need to adapt to changing customer expectations and navigate through the global pandemic and economic stresses.

According to Forrester’s “Indian Banks: Deliver Better Experiences Or Risk Losing Customers report,” 55% of Indian customers are more digitally engaged and using digital means to interact with financial services providers.

The webcast series curated for the Indian financial services industry will feature Forrester analysts and industry speakers and focus on topics including reimagining digital operations and experiences, managing platform ecosystems, and driving innovation. These experts will discuss the future of financial services in India, identify key drivers for growth, and share actionable insights

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Ethiopia Calls for Digital Financial Services Boost in Africa

Addis Ababa September 24/2020(ENA) Ethiopia calls for Africa to promote digital financial services to boost women’s economic opportunities.

In a panel discussion of G-7 and African countries during the 75th UN General Assembly, Sate Minister of Finance Eyob Tekalign emphasized the importance of focusing on financial inclusion, which he said plays an eminent role in women’s and girls’ economic empowerment.

Although many African states are striving to harness digital technologies in bid to build more inclusive economies, much remains to be done to ensure women benefit from the digital advancements, especially those that live in rural and marginalized communities, he noted.

“Improving women’s access, use, and control over financial services enable them, especially the poorest women, to achieve the same status, power, and opportunities as men resulting in dramatic social changes that propel society forward,” he added.

The State Minister noted how the COVID-19 pandemic has underscored the importance

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