UK reconsiders FIs’ push payments fraud strategy, SMBs stunted by personal debt, and the ICC talks trade finance technology.
| | | | BUSINESS TO BUSINESS EDITION | | Mastercard, UAE Exchange: Building A Cashless Middle East Many customers are left unbanked because of where they live or because how much they make (or donât make) prevents them from getting an account. UAE Exchange CEO Promoth Manghat and Girish Nada, GM, UAE Mastercard explain how new technologies, including blockchain tech, make it possible for the underbanked to access financial products and services in this emerging economy. |
| International Payments Group Champions Faster Cross-Border Payments Individual jurisdictions around the globe are pressing for both faster and more efficient cross-border payments, but payments experiences are far from ubiquitous from market to market. The Committee on Payments and Market Infrastructure (CPMI) is now calling for cross-border payments to accelerate on a global scale, arguing the emergence of cryptocurrencies and blockchain is proof that the current traditional banking infrastructure isn't meeting the market's needs. |
| | SMB Finance | | Blockchain Forces A New Conversation About The Trade Finance Shortage There is a $1.5 trillion gap in available trade finance, and it's stunting SMBs' ability to trade and grow globally. Trade finance is a common use case targeted by FinTech innovators, including alt-lenders and blockchain companies. Krishnan Ramadurai from the International Chamber of Commerce tells PYMNTS that while blockchain is too new to have made any impact, what it has done is force a new conversation among banks and regulators about how to wield technology to meet trade finance demand. |
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