Traditionally a time-consuming process, Ocrolus has released an automated fraud detection software to aid lenders.
In the west we take it for granted that the vast majority of people have internet access. But that is not true in the developing world. For digital payments to take off there we need to develop robust offline payments infrastructure.
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With 2.6 million people and the highest remittances in Africa, Nigeria is currently the 7th most populous country in the world.
Progress in open banking regulation will advance financial inclusion in Latin America, and prompt fintechs to forge alliances.
Tokenization has been set for some time to cause disruption but open finance incorporation may be key to realize its growth.
Open Finance turns three years in Brazil, and data shows it is growing at a steady pace, with over 40 million consents granted by users.
Open finance is growing fast in Brazil, with progress in regulation paving the way for new opportunities for local fintechs.
Two key takeaways from a state of banking report should further encourage fintechs and small businesses about future opportunities for growth.
Banks must find a way to optimize the digital customer experience while simultaneously ramping up security.
A new report suggests the pandemic has spurred the financial services and banking industries to accelerate change.