Eastern trade is likely to expand at a rate not seen for centuries as China’s ‘New Silk Road’ looks set to go ahead, following the announcement of a $40bn investment in the planned trading route. The expansion of roads and railways from China across the globe means stronger links between all countries involved, but how will this affect eastern currencies?
Ever heard the saying, ‘the customer is always right’? In the financial services industry, that hasn’t always been true. But a major new report published by the World Economic Forum (WEF) suggests that consumers’ luck is about to change as fintech continues to disrupt, embed and lead the way. The report, entitled ‘The Future of Financial Services’, examines how fintech is shaping the industry, and it pits agile tech start-ups against the established banking Goliaths to see how each will adapt and how they’ll co-exist. Read more “Why Finance’s Future Finally Belongs To The Customer”
Commentators from The Economist to Forbes have hailed the triumphant start of the fintech revolution. The financial industry is finally catching up with every other sector that’s ploughing its profits into digitalising its services. The result? A customer-centric industry that’s taking $4.7tn away from traditional banking.
Fluctuations in the foreign exchange market can have far-reaching economic repercussions – it’s no wonder, then, that some governments choose to intervene to manage their own currency’s value. This is less common in the US and UK, which keep to a market-driven approach, but is widespread in many parts of Asia and in the Eurozone. The devaluation of the Chinese renminbi is a recent example, with some observers seeing it as a long-term attempt to bolster the country’s exports. Read more “Can Government Intervention Maintain A Stable Currency?”
Financial services regulation is a careful balancing act – it’s essential to keep your money safe, but it can quickly become expensive for businesses. The Economist recently argued that regulation is one of the international money transfer industry’s biggest problems for exactly this reason. Read more “Does Regulation Really Raise The Cost Of International Money Transfer?”
It started as a niche interest of tech-loving teens but soon grew into a social phenomenon. By the end of 2013, the Oxford Dictionaries named selfie ‘word of the year’, which wasn’t surprising given over a million selfies are taken every day. Now, the selfie has grown up and is getting a job in finance. Here’s the breakdown on how your next self-portrait could lead to a legitimate money transfer.
One way to make the most of savings you’d like to grow is by tapping into new investment markets. This could mean looking abroad, in particular at countries that drive global growth. Today, emerging markets in developing nations are poised to do just this – become the world’s new growth engines. As with any financial investment, however, it’s important to measure and manage your risks. Here’s a breakdown on emerging markets and what investing in them means for you.
International money transfer has become a part of everyday life. Banks, brokers and websites can send money abroad quickly and easily. But what’s happening behind the scenes when you make a transaction? Read more “What Exactly Happens To Your Money When You Send It Overseas?”