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Will China’s Central Bank Digital Currency ever have its Olympic moment?

The Winter Olympics in Beijing were not just a showcase for the world’s best athletes. The event was also an international testing ground for China’s new digital currency – the digital yuan (or e-CNY) – and reinvigorated the interest in its Central Bank Digital Currency (CBDC) plans. Rather than focusing on the functional payment aspects ...

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The future of payments – it’s time for big steps!

The 2021 edition of Euroforum’s annual conference on the future of payments (‘Toekomst van het Betalingsverkeer’) – which took place in Amsterdam’s Beurs van Berlage on 9 September and was actually held as a physical event rather than a virtual one – attracted over 200 attendees. INNOPAY’s Josje Fiolet was among them, and she has written ...

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Why should banks prioritise becoming the new 'Data Custodians' of the digital economy?

To access to an extended paper which expands on the concepts introduced here, click the link at the end of this blog to download 'Establishing the trust anchor in the digital economy: the case for banks to become 'Data Custodians'. The original article was initially published in the Journal of Payments Strategy & Systems (peer-reviewe...

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INNOPAY Open Insurance Monitor update: Insurtechs on the rise while incumbents are in limbo

Open Insurance continues to be the next game changer in insurance. The second ed...

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Payments trends are the driving force behind the relationship between retailer and customer

The relationship between a retailer and its customer is driven by three importan...

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News

‘Sharing insurance data will soon become a compliance issue, but right now it’s an opportunity’

It probably won’t be long now until insurance companies – just like banks – with PSD2 are required to develop API portals to share customer data with third parties. Insurers have a choice: to wait it out and treat it as a compliance issue when the time comes, or to view it as an opportunity right now, according to Maarten Bakker, a partne...

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Findings from the INNOPAY Open Insurance Monitor: front-running insurers are making inroads but are lagging behind banks

Insurers across the globe are looking for ways to apply the use of data, products and services to enhance value creation in digital ecosystems. Although several front-running insurers are already making inroads with this, most insurers are lagging behind banks. That is one of the key findings from the INNOPAY Open Insurance Monitor. This ...

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Securing future relevance in the changing financial system: three strategic stablecoins considerations for banks

Widely regarded as the more respectable face of crypto, stablecoins are poised to become an integral part of the financial system’s future. With their ability to stabilise prices and in conjunction with harmonised regulations, stablecoins hold the promise of improving access to financial services. During EBAday 2020 in November, Josje Fio...

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Top 3 think outside-the-box ideas emerging from Central Bank Digital Currencies

Over the last five years, most payment innovations have focused on improving cus...

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Central Bank Digital Currencies: Today’s buzzword, or time to get ready?

A much-discussed (and much-hyped) topic among central banks is the issuing of currency in a digitalised form: a Central Bank Digital Currency (CBDC). It is claimed that CBDCs could have a significant impact on the payment infrastructure and ecosystem because they could change the rules of the game. However, the various existing CBDC imple...

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EPI: Paving the way for future bank relevance, and not just through payments

Sixteen major Eurozone banks have come together in the European Payments Initiative (EPI) to launch a new payment system aimed at taking on rival card schemes and the threat posed by Chinese and US big-tech firms. Although previous pan-European collaboration projects (e.g. Monnet, Eaps, Payfair) have not been perceived as a great success,...