Most of the countries in fact 95% in the world are now in the process of exploring the viability of CBDC, or Central Bank Digital Currency. In fact, 11 countries have already implemented and some 50 countries are said to be in advanced stages or just in the process of implementing such a currency. Jamaica is the latest to have its own CBDC, called JamDex.
It is expected that some 20 countries the notable among them being Australia, Brazil, India, Russia and South Korea - are doing advanced pilots in CBDC. The European Central Bank is also readying for a pilot. At the same time cross border CBDC tests are also in progress both in wholesale and retail domains and may reach implementation stages soon. Projects in all the G7 countries too have reached the development stage, especially the Federal Reserve's Project Cedar, which is a wholesale cross-border project.
PROJECTS ACROSS THE WORLD
The status of CBDC projects in some of the leading economies are:
Australia is developing its eAUD, which is a joint project of the Reserve Bank of Australia, Commonwealth Bank and the ANZ Banking Group. Under the pilot program, which is in an advanced stage, use cases of the eAUD are being explored. Som 12 financial institutions and payment companies in the country are testing the CBDC.
Brazil is in advanced stages of its pilot and the country has announced that it will launch a CBDC in early 2024.
China has almost fully developed its eCNY, and is planning to include it in its currency circulation. It is reported that the e-CNY represented 0.13% of cash and reserves held by the People's Bank of China.
The Bank of Jamaica formally launched JamDex in 2022 with the stated objective of improving financial inclusion and facilitating the growth of a digital economy. The main aim is to help those people who do not have a traditional bank account through the use of a basic KYC program.
ãã®èšäºã¯ Banking Frontiers ã® September 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Banking Frontiers ã® September 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: