April Wu

China Market Strategy

April 8, 2015

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Banking News This Week – Apr 8

The top 5 banking news stories in emerging markets this week.

1 – CBN approves 2 models of mobile money services

The Regulatory Framework and Guidelines on Mobile Money Services in Nigeria is­sued by CBN on its website, classified the services as bank led, which is a bank and/or its consortium as lead initiator and non-bank led, which is a corporate organisation duly licensed by CBN as lead ini­tiator. >>

2 – Over 700 million in Asia already bank digitally

According to a new report from McKinsey & Company, smartphones and high speed Internet access are transforming banking habits in Asia where over 700 million people already regularly conduct transactions online. >>

3 – M-commerce boom in Philippines as smartphone penetration increases

M-commerce is booming in the Philippines, thanks to a young, digitally-connected population, better payment options and a bigger variety of vendors. >>

4 – Banking On Southeast Asia’s E-Commerce Future

McKinsey has identified three powerful trends fuelling this rise – rapid economic growth, urbanization and technology adoption (notably Internet penetration and mobile technologies). Together these are transforming the region, its people and its economies, with e-commerce and m-commerce leading the way. >>

5 – Multi-banking a trend in South Africa

South African consumers are fond of multi-banking: a trend where businesses and individuals prefer to bank with more than one banking partner. According to an annual business tracking survey done by TMS, 14% of small businesses do not have a “main bank”. >>

Also worth reading:

Mobile Banking Boom In Emerging Markets
(Video)Doing Business In Emerging Markets – Banking Sector
4 Chinese Internet Companies Betting On Mobile Banking
Banks Tapping New Potential in Asia