We are excited to announce Shawn Van Raay, CIO at Payments Canada as a key thinker at The Future of Money on April 4, 2024. Secure your tickets for the event followed by a networking reception at Koerner Hall at www.thefutureofmoney.ca with the discount code: FOMHALF Scott McDonald, Katie Cheesbrough, University of Toronto - Munk School of Global Affairs & Public Policy, Zsofia Miko-Hemphill
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Our Executive Directors Vicky Davies, Stephen Matchett and Richard Caldwell feature on the front cover of this month’s Ulster Business Magazine, as part of an interview looking at the year ahead. 2024 sees us mark 200 years in business. Vicky said: “It’s 200 years of supporting Northern Ireland businesses, communities and people, locally. And it’s a lovely opportunity for us to celebrate with our customers and colleagues. We bank over 50% of the Top 100 Northern Ireland businesses, and one in four of all the businesses here, so we have a great view of what’s going on in the market. “What is obvious to me is that there are some businesses which are doing really well. There is lots of growth potential – with many benefiting from savings they built up during the pandemic. They are seeing opportunities out there and taking advantage. Equally, there are those for which the economic environment, political uncertainty, inflationary pressures, cost of doing business and cost of borrowing is weighing more heavily.” She continues: “I believe people want to bank with somebody who's going to be there with them for the long haul, and not going to make decisions in one direction one year, and then another in the next. The decision makers across all parts of our bank are local people who live here in Northern Ireland. This allows us to make quick decisions and we empower our teams to ensure they are well positioned to support customers with what they need, when they need it.” You can see the full article here: https://lnkd.in/eTxGfDUF
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Data Scientist/ AI Engineer @ GCash (Ant Financial x Globe Telecom) | LLMs and Generative AI, Machine Learning, and Responsible AI
I need to update my numbers because I just found out that GCash (Mynt - Globe Fintech Innovations, Inc.) is used by 8 out of 10 Filipinos (or ~94 Million) at the end of 2023. Over the last 5-6 years, GCash has significantly contributed to making financial services more accessible to everyone, increasing the usage of mobile financial services from 17% to 80% In the past, my friends and I would share bank account numbers to split the bill, but now sending money is as simple as sending an SMS, i.e., using their mobile numbers.
Queen Máxima of the Netherlands, as the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA), has commended GCash (Mynt - Globe Fintech Innovations, Inc.) for its pivotal role in promoting financial inclusion in the Philippines. Read more about the news here: https://lnkd.in/dzTJ8Hnb
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For Newcomers, demystifying Canada's banking system isn't necessarily an easy task—just the number of acronyms for different accounts can make your head spin (think TFSA, FHSA, RRSP, etc.). 😵 That's why I'm super excited to have developed this video for RBC's Newcomer team with The Peak to break down the basics of what someone's first financial year in Canada might look like. Check it out. 👇 https://lnkd.in/gx9bSe4A #myemployer
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❓ Did you know that sending #money abroad to friends and family can be more costly than you think? Hidden fees are affecting millions of people in the Hispanic and Latino communities in the US who send remittances to loved ones. 🌎 As part of the Hispanic Heritage Month, Wise Global Community & Digital Campaigns Manager Joshua Contreras has outlined the challenges of access to #remittance services, and why Wise is calling for change to help communities who are losing billions to hidden fees every year. Here are the key takeaways: ✨ Remittances Empower Communities: Remittances are a lifeline for Hispanic and Latino communities, supporting families, education, healthcare, and economic development. Communities rely on remittances to support #family and #friends abroad. 🌐 Global Remittance Costs: Sending money is expensive, with the #global average cost at 6.3%. The UN is aiming to reduce it to less than 3% by 2030. 💰 Hidden Exchange Rate Markups: Some providers hide extra fees in exchange rates, impacting the amount recipients receive. 📝 CFPB's Action: The Consumer Financial Protection Bureau is taking steps to improve transparency in remittance fees. ✊ You can get involved by joining Wise' 'Nothing to hide' campaign, and advocate for change to end hidden fees in #international payments. 🌎💪 Read more on price #transparency and how it can change remittance services for the better: https://wi.se/tsuwmw
Hispanic Heritage Month: The hidden problem of sending money back home
wise.com
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Always lovely to touch down on home soil, and the second stakeholder event held by the Department of Finance Ireland on the development of the national financial literacy strategy held in the revamped Páirc Uí Chaoimh today was so positive with lots of good energy in the room. 📕With the strategy due to be implemented by the end of the year, the event was packed with interesting speeches, insightful discussions and practical suggestions aimed at identifying the gaps and looking at lessons learnt abroad. Supriya Syal Ph.D. from the Financial Consumer Agency of Canada | Agence de la consommation en matière financière du Canada told delegates that Canada was one of the highest financially literate countries in the world and on their second financial literacy strategy. 🤝Really interesting presentations were made with Linda Ayres from the Irish Banking Culture Board sharing how their partnership with a domestic violence support group helps survivors become financially literate and regain independence. 📽️ https://lnkd.in/eRrA_S67 ⚖️Meanwhile Derville Rowland from Central Bank of Ireland acknowledged the challenges of scams and digitalisation on consumers. With the rapidly growing phenomenon of financial influencers or ‘finfluencers’, she said it was important for young people to have trusted voices. The introduction of #autoenrolment, which was signed into law this week, represents a key step in addressing occupational pension coverage and getting young people thinking now about their finances, she said. 📖 https://lnkd.in/dApSRbBv 📈Chiara Monticone from OECD - OCDE said Ireland needs to think about what it wants success to look like before implementing the strategy, and suggestions on how best to measure and evaluate were discussed by the stakeholder groups. #FinancialLiteracy #pensions #FinancialEducation #financialempowerment #moneymatters #moneymanagement #financialwellness
Minister for Finance Jack Chambers this morning hosted a stakeholder event on the development of Ireland’s first National Financial Literacy Strategy in Páirc Uí Chaoimh, Cork. ▶ Financial literacy and education is an important part of financial consumer protection. ▶ It covers people’s awareness, behaviour, knowledge, attitudes and skills in relation to money and is an important skill for all. Today’s event brought together key stakeholders. Participants included the Competition and Consumer Protection Commission, Central Bank of Ireland, the OECD - OCDE and the Financial Consumer Agency of Canada | Agence de la consommation en matière financière du Canada Approximately 91 public and private sector organisations including the financial services industry, education, civil society and Government Departments and agencies were also represented. ➡ Full details: https://lnkd.in/epca32qp
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On behalf of FAIR Canada and a coalition of consumer advocates, we congratulate the Government of Saskatchewan for passing the Saskatchewan Investor Protection Act (Bill 150). Bill 150 is landmark legislation because it introduces, for the first time in Canada, measures that will grant the Ombudsman for Banking Services and Investment (OBSI) with binding authority. This new authority will help promote a fairer complaint-handling system and ensure complaints can be resolved in a timely and efficient manner. For more than 20 years, OBSI has provided investors with access to a fair and impartial recourse mechanism for resolving financial disputes. We have long advocated for binding authority, recognizing its critical role in upholding the integrity of the Canadian financial services market. FAIR Canada and the coalition of consumer advocates will continue advocating for regulations that put investors’ interests first, and we look forward to having input on the provincial regulations. We look forward to witnessing the positive impact of Bill 150 on investor protection and consumer rights in Saskatchewan. Read more in the press release: https://lnkd.in/gxyTTFPD #InvestorComplaints #InvestorProtection #Complainthandling #Investors #Finance #Regulation
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💰 Money Transformation Mentor: Transform your money life in 3 months with proven ROI. | Certified Coach | Financial Wellbeing Speaker | Epilepsy Survivor | Coached 100+ Clients
Some high earners are struggling to manage their funds We wrongly assume the more money you make, the wealthier you get Read this and more in my exclusive interview with the Times of Malta - a year later, but a concept which never ages, thanks Mark Laurence Zammit #money #moneycoaching #highearners #financialliteracy #financialliteracymonth #moneyhabits #financialwellbeing
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A pair of recent exits means Ireland now has only two "pillar banks" left, with overseas non-bank financial intermediaries increasingly providing finance in their place. I recently spoke to Fieldfisher director Aaron McGarry about navigating a seismic transformation in the Irish financial sector. https://lnkd.in/gmHFeDtq #ireland #banks #financialservices #financialsector #investmentfunds #realestate #realestatefinance #realestatefinancing
Who's filling the gap following Ireland's bank exits?
lexology.com
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Mulling over something Faisel Rahman, founder of Fair Finance said at the Responsible Finance member day earlier this week - that Community Development Finance Institutions (CDFIs) are doing a great job in difficult circumstances. Echoed by Matt Smith at Key Fund Investments who talked about the significant challenges to being able to engage in long term strategic planning, due to the barriers such organisations face in the short term (particularly access to capital). A point made during a discussion on impact earlier in the day was, I think, relevant across both the CDFI and credit union sectors - the expectations around proof of impact for these sectors (either internally or externally generated) are quite different to those placed on mainstream banking institutions. We know CDFIs and credit unions face an uphill battle in scaling to meet the demand for the affordable and ethical services that they're uniquely placed to deliver. Social Investment Scotland set it out squarely in the video that was shown at the member day- there's a need for legislation to make sure mainstream institutions work with community finance providers, so that everyone gets access to the lending, and other banking services, that they need. This is where a Fair Banking Act would come in! #FairBankingForAll
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FAIR Canada is pleased to see @CSA_News fulfilling their commitment to present a proposal on binding authority for the Ombudsman for Banking Services and Investments. This is great news for investors in Canada! Implementing binding dispute resolution is a crucial consumer protection matter. Canada’s existing system falls short, and it is imperative that governments and regulators institute a framework that not only brings closure to investor complaints, but also shields them from low-ball settlements. FAIR Canada, alongside many other stakeholders, has consistently advocated for binding power in dispute resolution, and we eagerly anticipate submitting a comment letter. Kudos to @SKGov for introducing binding legislation that will enhance investor protection in its province. FAIR Canada is pleased to endorse Bill 150: The Securities (Saskatchewan Investors Protection) Amendment Act, 2023. We eagerly anticipate the introduction of similar legislation by other governments! We believe this initiative will contribute significantly to safeguarding the interests of investors. Read more here: https://lnkd.in/g2f_UiG4 #Investors #InvestorComplaints #ComplaintHandling #Finance #Ombudsman
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