Central banks around the world have two main ways of facilitating innovation. The first is by establishing Innovation Hubs. Hubs serve as a single point of contact for all firms (new or incumbent, regulated or unregulated, technology companies, etc.)…
Chasing excluded populations that don’t have access to financial services, which add up to around 60% of adult population, is considered to be crucial in addressing the heavily cash reliant economy in Albania and an important key to unlocking opportunities…
Buna, the cross-border and multi-currency payment system, came to fruition on the 23rd of February 2020 as a culmination of an implementation program launched in 2018 that was preceded by a thorough feasibility study initiated in 2016. In fact, Buna’s…
Nigeria is acknowledged as a major economic force within Africa, and also an active player in the global economy. To participate actively therefore, her payments system must be credible, reliable and efficient, and successfully benchmarked against the…
The ongoing technological transformation in the sphere of financial services has not only improved financial services themselves but also created new opportunities for countries willing to attract innovation. In recent years, Lithuania has emerged as…
New tech-savvy players are entering the financial market left and right. The way they provide financial services would not be possible without the advances in financial technology we have witnessed in recent years. But traditional financial institutions…
Over the last decade, the Hungarian payments market has gone through a major development, and the use of electronic payment methods is constantly growing. The Central Bank of Hungary (MNB) actively contributed to the favourable processes in line with…
The Payments Association of South Africa’s Maurits Pretorius and Vinu Thomas detail the rapid growth of digital payments in South Africa and make the case for a cash-lite society
Sharoon Rasheed and Rehman Pervez from the State Bank of Pakistan’s Payment Systems Department provide an update on the exciting new developments transforming Pakistan’s payments landscape
The Bank of Finland has provided a multipurpose payment and securities settlement system simulator for the global central banking and research community since 2004. The Bank's Payment and Settlement System Simulator (BoF-PSS2) is a natural outcome for…
