April Wu

China Market Strategy

October 21, 2015

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Banking News This Week – Oct 21

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

1 – Foreign banks prepare for opportunity to open subsidiaries in India

A recent change in regulations allows foreigners to create Indian subsidiaries, freeing them from restrictions on acquisitions and branches. >>

2 – Vietnam: Citi to set up unit to design mobile banking solution

Citigroup Inc’s consumer banking unit said it would set up a unit, Citi FinTech, for designing a “radically simple, connected mobile banking solution.” >>

3 – Mobile banking services in Africa: the emergence of mobile savings, credit and insurance

Mobile money services has a huge potential for revenue generation for telcos, owing to relatively low penetration of banking services (around 29% of the population) and mobile phones (which is nearly 80% of the population). >>

4 – Singapore: Banks exploring plan for money transfers using mobile numbers

A bold new plan to enable money transfers using only mobile phone numbers is being explored as the banking industry looks at ways to improve payment technologies. >>

5 – Rwanda: We have an appetite for expansion – new I&M Bank MD

(Interview)The new managing director of I&M Bank Rwanda, Robin C. Bairstow, has said that he is ready to transform the bank into a giant financial institution by increasing its growth in both sectors. >>

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