Crown Agents Bank, with the support of the Bill & Melinda Gates Foundation, has produced a thought leadership paper on the selection process for CBIs. The paper provides some tools and guidelines for the design and set up of such programmes, also covering the use of RFPs when selecting financial service providers and technology partners.
We will continue to see growth in cross-border payments as international trade for both B2B and B2C continues to thrive. However, given the increased number of providers in the space and reduced growth rates, competition will intensify, putting prices and margins under pressure.
Mobilising funds to get them into the hands of those who need them is one of the most critical, and sadly most complicated aspects of international development and crisis response. For international development organisations, the final movement of funds to individual recipients or field project offices, ‘last mile payments’, is often the toughest part of the process.
Can fintech really be a force for good? Whether its blockchain, cryptocurrency or even simply advances in online banking, financial services and technology have become irreversibly linked. Fintech companies have brought much-needed disruption to the financial world, redefining banking and financial services, but this rapid disruption has also led to many financial organisations feeling the need to play catch-up, putting innovation and profit above the needs of the end user.