Why financial services can kickstart Africa’s digital economy

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Herman Smit, Director, Cenfri & Chernay Johnson, Engagement manager, insight2impact Africa’s largely informal economy is digitizing. Improved internet and smartphone penetration have given rise to virtual marketplaces, also known as digital platforms, where millions of workers and enterprises have […]

Don’t underestimate the power of the fintech revolution

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Linda Yueh, Oxford and London Business School economist “Who the hell wants to copy a document on plain paper???!!!” Rejection letter sent to Chester Carlson, inventor of the XEROX machine in 1940. “This ‘telephone’ has too many shortcomings to […]

Data and the future of financial services

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Kai Keller, Project Lead, Financial Stability, Innovation, and Economic Growth, World Economic Forum In September 2017, hackers breaching credit-reporting agency Equifax accessed the names, social security numbers, birth dates, addresses and, in some instances, driver’s license numbers of 143 […]

Germany objects to EU Commission’s plan for a Eurozone bank deposits insurance scheme but Berlin could go along

Last Tuesday the European Commission aired a groundbreaking proposal, about the creation of a euro-area wide insurance scheme for bank deposits. In this way the European Banking Union will start having a meaning for the average European. It’s a plan for a European Deposit Insurance Scheme (EDIS) which is meant to complete the Banking Union […]