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Lasco Financial looks to remittance, bill payment segments for growth

Digital Banking: Malaysia based Fintech Jirnexu to Work with Five Local Entities Seeking Virtual Bank License

Digital Banking: Malaysia based Fintech Jirnexu to Work with Five Local Entities Seeking Virtual Bank License Malaysia-based Fintech firm Jirnexu reveals that it has entered into partnership agreements with over five consortia as they apply for a virtual banking license. They stated that with Jirnexu’s client base and a solid understanding of their financial requirements via RinggitPlus.com, the digital banking license seekers can develop a comprehensive portfolio to support their application during this selection period. In order to improve Malaysia’s financial literacy rate, Jirnexu had introduced the financial comparison website RinggitPlus.com back in 2013. RinggitPlus has created a credit scoring system, referred to as X-Score, by using its proprietary data from its digitally sourced credit card and personal loan documents. This scorecard should allow virtual banks to source clients confidently while taking into consideration their risk appetite.

Digital Currency Will Boost Gov't Service Delivery, Financial Inclusion – Jamaica Information Service

The Bank of Jamaica (BOJ) anticipates that the introduction of a Central Bank Digital Currency (CBDC), slated for 2022, will serve to bolster government service delivery and boost financial inclusion for a greater number of Jamaicans. Governor, Richard Byles, said that the challenges arising in relation to the deployment of funds to beneficiaries under the multibillion-dollar COVID-19 Allocation of Resources to Employees (CARE) Programme, highlights the need for the CBDC. “The simple act of trying to get government support out to those who [were] most in need became very difficult, because many Jamaicans are not part of the financial network and also because a lot of the banking [arrangements are] still not digitised. I think that there is a greater need for financial inclusion and digitisation of the Jamaican economy, and that is one of the issues that we hope to rectify with the CBDC,” he said.

Jamaica Central Bank to introduce digital currency next year

Social Share KINGSTON – The Bank of Jamaica (BOJ) said it anticipates that the introduction of a Central Bank Digital Currency (CBDC), scheduled for next year, will serve to bolster government service delivery and boost financial inclusion for a greater number of Jamaicans. BOJ governor Dr. Richard Byles said the challenges arising in relation to the deployment of funds to beneficiaries under the multibillion-dollar coronavirus (COVID-19) Allocation of Resources to Employees (CARE) programme, highlights the need for the CBDC. “The simple act of trying to get government support out to those who [were] most in need became very difficult because many Jamaicans are not part of the financial network and also because a lot of the banking [arrangements are] still not digitised,” he said.

Jamaica's central bank taps Irish tech outfit for CBDC project