In this Global Platform video, Jahja Setiaatmadja, president director of Bank Central Asia, talks about the importance of digital technology, such as online banking and digitalised transactions, in adapting to the rising use of fintech in the market. Indonesia’s target growth rate is set to exceed the global average, at 5.3% for 2020. This, along with an inflation rate of only 3% and a stabilised exchange rate, will help attract investors in the coming years. Furthermore, the growth of retail, fashion, food and tourism infrastructure is expected to attract rising rates of foreign investment moving forward.
Demand for Bitcoin has been surging globally since the beginning of the coronavirus pandemic, with interest reaching a fever pitch early this year. While it is not without its potential pitfalls, emerging economies are increasingly looking to cryptocurrencies as a way to drive their recoveries from the economic fallout of the virus.
The Philippines is experiencing a boom in digital banking as a result of the Covid-19 pandemic, with several digital-only banks announcing plans to enter the market and legacy banks rapidly upgrading their online offerings. East-West Banking Corporation, the country’s 11th-largest bank by assets, launched its own fully digital bank, Komo, in...
How would you assess the pace of digital transformation in the Philippines’ insurance sector?
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