Our Scans · (FS.1.08) Future Of Banking · Weekly Summary

• [New] Access to finance The British Business Bank will receive £7 billion in new funding to support SMEs with growth, innovation and scale-up. Construction Equipment Association
• [New] As we look toward 2040, Singapore's banking sector stands poised to lead the world into a new era of financial services, where quantum computing, artificial intelligence, blockchain technology, and sustainable finance converge to create unprecedented opportunities for prosperity and progress. Maxthon | Privacy Private Browser
• [New] The convergence of quantum computing, artificial intelligence, blockchain technology, central bank digital currencies, and sustainable finance creates unprecedented opportunities for economic growth and global influence. Maxthon | Privacy Private Browser
• [New] The Bank of England will maintain a flexible approach to regulating innovation in the financial sector. Central Banking
• [New] Security Risks: Counterfeit devices frequently come with pre-installed malware or lack proper security protocols, risking personal data like bank details, critical in Kenya where mobile banking is prevalent. UHONDO!!!
• Salt Edge, a financial API platform offering PSD2 and open banking solutions, aims to help businesses worldwide embrace the potential of open banking. The Fintech Times
• Israel will continue its efforts to expel Hamas from the West Bank by force, while it has already built infrastructure to receive future UN humanitarian aid to the local populations, controlled exclusively by the IDF. All About Shipping
• In the east, the Central Bank of the UAE plans to launch the Digital Dirham, its retail CBDC, in late 2025, while the Ruya Islamic Bank recently launched crypto that is aligned with Islamic laws. TronWeekly
• A reserve manager of a central bank in the Asia-Pacific region countered: European countries may underperform due to the lingering economic uncertainty, relatively high inflation risks and the potential volatility from geopolitical challenges. Central Banking
• The Indian government expects the Reserve Bank of India to roll out its digital currency in 2025. The Economic Times
• Fidelity's move will push banks, payment providers, and fintech companies to adopt blockchain technology faster and improve their services due to the growing competition. Cryptopolitan
• Clients will be able to connect to Thunes' global network of over 7 billion mobile wallets and bank accounts, 15 billion cards, and access services across 130 countries and 80 currencies. Fintech Singapore
• Out of the 18 central banks in the MENA region, eight of them have said that open banking is one of the most important elements that will allow them to improve financial inclusion. The Fintech Times
• The Reserve Bank of India will launch its own cloud infrastructure called the Indian Financial Services (IFS) Cloud in 2025-26 to promote data localization and reduce dependence on foreign cloud providers. Guidely
• Central Bank Digital Currencies (CBDCs): The rise of CBDCs is one of the most significant developments in the financial landscape and will likely impact cryptocurrencies by 2025. UMA Technology
• The European Central Bank board member responsible for the digital euro has begun talking about the possible international use of a payment system that respects the sovereignty of third countries, mitigates potential risks for them and offers them new opportunities. DNyuz
• With a global shortage of IT and data talent, banks must find innovative ways to attract, retain, and continuously develop the right people while forecasting which skills will be essential as AI innovation evolves. FinExtra
• Although the full realization of advanced AI capabilities will extend beyond 2025, the strategic integration of AI technologies will become increasingly important for banks. Forbes
• In the next decade, banks, fintechs, and big tech firms will leverage both maturing and emerging technologies to redefine digital banking experiences, ultimately reshaping the financial landscape. FinExtra
• In a recent study, McKinsey & Company called The Economic Potential of Generative AI, estimates that the banking sector can create between $340 billion of value from generative AI every year by 2030. Boston Institute of Analytics
• The World Bank's report explores how robots, AI, and digital platforms are reshaping labor markets in East Asia and the Pacific, creating new opportunities while deepening risks for low-skilled and informal workers. Devdiscourse
• The Reserve Bank of India expects the final interest rate charged by digital lenders to fall once the new draft co-lending guidelines come into effect. IBPS Guide

Last updated: 26 June 2025