LONDON—Fintech and other factors have been so disruptive it has forced banks in the United Kingdom to start closing their branches at a rapid rate, new research suggests.
THE globe
CU News From Around the Planet
WASHINGTON—The World Council of Credit Unions (WOCCU) is reporting that during 2021 it was able to successfully advocate before international standard setting bodies on behalf of the global financial cooperative movement.
LONDON—Will 2022 see the surging interest and appreciation in digital currencies as was seen during 2021?
MANDALUYONG, Philippines—As the global economy is rebounding from the effects of the pandemic, remittances are set to bounce back by $34 billion this year and $31 billion in 2022, according to the Asian Development Bank.
NAIROBI, Kenya–Digital banking startup Kwara has raised $4 million in a seed funding round to further develop its neobank app in Kenya as it seeks to turn traditional savings cooperatives into modern digital banks, according to the company.
CHICAGO–The globe’s best financial institutions when it comes to “outside-the-box thinking in breakthrough technologies, state-of-the-art design and implementation, that drive efficiency and enterprise profitability” have been announced.
WASHINGTON—The International Monetary Fund (IMF) is warning of risks posed by cryptocurrencies, especially in emerging and developing countries, and is calling for coordinated action to be put in place global standards.
ACCRA, Ghana—One country is said it plans to tax electronic transactions.
BEIJING—China is introducing new rules for mobile payments in a move some experts say could pave the way for the future deployment of the country’s central bank digital currency — the e-CNY.
TOKYO–The Bank of Japan is reporting it had offered payments to nearly 90% of the country's regional lenders—including credit unions--under a program designed to revitalize the financial services sector by encouraging mergers and cost cuts.