More News, Rumors and Opinions Saturday Night 7-17-2021
TNT:
Tishwash: Việt Nam is ‘promised land’ for digital banking
Việt Nam is among the regional countries that are seeing new digital bank models, experts have said.
A recent report by Boston Consulting Group on digital banking in the Asia-Pacific listed various factors that make Southeast Asia and India "promised land" for digital banks.
The segment has huge potential in the region since digital adoption has grown rapidly in recent years, with the region now home to a digitally connected population of over 400 million.
This figure is likely to grow substantially in the coming years as mobile penetration and 4G coverage expands in a region with a population expected to reach 542 million by 2030.
Malaysia, the Philippines, Việt Nam, and Thailand are first off the blocks in welcoming the new model.
Việt Nam's banking industry revenues could rise to US$27 billion by 2024, equivalent to annual growth of 13 per cent since 2019 and the highest in Southeast Asia.
According to Finance magazine, in Việt Nam, with its young population, technology and internet accessibility are high, and the percentage of the population using smartphones is increasing rapidly.
Creative marketing agency Adsota, in its Việt Nam digital advertising market report for July 2020, had said 43.7 million people use smartphones, or 44.9 per cent of the population and among the 15 largest markets.
Nirukt Sapru, global advisor of Timo Digital Bank, shared: “There is a significant opportunity for Việt Nam to attract FDI in the digital banking space. Both banks and private equity firms continue to be attracted to the Vietnamese market by the digital-savvy consumer in Việt Nam. The opportunity includes using digital banking to tap the unbanked as well as provide customised solutions to the rising middle class.
“I think that the digital banking and finance sector in Việt Nam will still have many opportunities for development in the near future if we can reach the customer base who do not have a bank account or upgrade service experience towards personalisation to create novelty and breakthrough.”
Challenges to overcome
Experts said digital banks need to overcome many barriers to being recognised as traditional landers in the next 10 years.
Speeding up regulatory approvals for digital banks is important.
Experts said it is necessary to speed up enactment of laws to enable them to keep pace with the development of the finance and technology sectors.
The banks themselves need to have long-term plans and the vision to invest in technology, regular improvement, maintenance, and system to enhance their competitiveness.
They also need to have good training programmes since digital banking is a relatively new field in the country, and their human resources are mainly recruited from traditional banks with banking and finance expertise or from technology companies.
Digital banks also have to compete with fintech companies who pay top dollar to attract quality personnel.
They are always prime targets for cybercriminals, and so, to build trust in customers, need to ensure the safety and confidentiality of information.
Việt Nam is the country with the lowest population rate served by banks in the region -- of just over 40 per cent.
So the habit of using cash remains widespread.
Changing people's consumption habits is also a challenge for Vietnamese banks’ digital transformation, experts said. link
**************
Fleming Saturday RV Update
Our military intel contact said his info is the same as from Mr Fleming’s sources and key personnel that were blocking the final release & start of T4B and the shotgun start for the cabal have been removed from exercising any power over the release—Janet Yellen, UST accountant Geoffrey Walters, and (unfortunately part of the problem) Judy Shelton; he said his current info matches that now (Sat 17 July) of Mr Fleming’s source with direct contacts with white hats in UST and DoD saying:
”[Sat 17.07.21 06:01] [Forwarded from W] ‘Ok guys I just finish[ed] a call and things are moving fast guys. Notifications will be out very soon now. He told me that there are no more excuses now and that nothing now is going to stop the RV [our guy clarified nothing is going to stop the RV shotgun start and T4 B start now].
The source sounded really excited as he was in a meeting and relayed the message back to me. He could not say much but only that the RV is 1000% confirmed to be released any day now. He is not going to give out dates but he assured me any time now.
God bless you guys
Courtesy of Dinar Guru
Breitling Question: "Can they revalue the currency and protect their economy and price for the next ten years by the end of the year?" Absolutely they can. They could have done it this summer. It's on the edge. They are not working on anything else. This is the answer to all of their problems...
Walkingstick & Frank26 The next phenomenal articles that are going to come out are going to talk about the new calculated exchange rate and about the new small category notes - the picture, the denominations etc etc...the next phenomenal articles will have a date of the releasing of the new small category notes and the new exchange rate...
****************
The Shocking Truth About The Trillion Dollar Budget
The Survival Economist: Premiered 95 minutes ago
Our shocking trillion-dollar deficit is a sign of "spending has gone wild."
The American people have underestimated the ability of politicians to slip things through when we are not looking.
While many voters had their attention focused on the impeachment circus Washington has again unleashed the purse strings.
Last time the diversion was a disagreement on funding the wall that distracted us, this time it is impeachment, the trade war and the Fed dealing with a liquidity crisis.
The important point is that Washington has again diverted our eyes away from the over the top spending taking place.