April Wu

China Market Strategy

June 10, 2015

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Banking News This Week – Jun 10

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

1 – East Africa: Online Banking Still a Challenge to Many Kenyans – Study

Online banking still remains a challenge to many people even as the smart phone penetration in Kenya experiences substantial growth due to increase in internet and mobile connectivity which has seen many local banks introduce online banking services at low rates. >>

2 – Nigeria’s Diamond Bank Reaches the Underbanked

By focusing on improving the financial lives of the underbanked and capitalizing on the popularity of mobile apps and payments in the country, the $10 billion-asset Diamond Bank has achieved significant growth. >>

3 – 53% Indians worry over security in mobile financial services: Survey

Fifty-three per cent of Indian respondents to a recent survey conducted by a US-based company have cited security as a concern on the use of mobile financial services (MFS). >>

4 – ‘Land of no return’ becomes frontier for PHL mobile banking

It’s one of 604 municipalities in the Philippines that don’t have a bank, a deficit the monetary authority is trying to overcome by encouraging the adoption of mobile phone transactions. >>

5 – Apple Pay to land in the UK in July

The beachhead outside the US marks a major step for Apple’s mobile payments system as it faces competition from Samsung Pay and Google’s Android Pay. >>

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