The UK export figures were driven by services – but there are ways the goods sector could catch up.
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The UK has jumped up the global exports table, overtaking France, Japan and the Netherlands.
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There is a lack of women guiding the booming fintech industry.
Not very welcoming.
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A cashless economy is a less inclusive economy.
Alden Ehrenreich and Phoebe Dynevor in Fair Play.
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In the US, where Fair Play is set, women didn’t gain the legal right to be members of the New York Stock Exchange until 1967.
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Sexism and misogyny still rears its head in everyday interactions in the financial services industry, not just in the scandals that hit the headlines.
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Escorts, sex workers and other adult entertainers often do not feel they have the power to challenge debanking.
Canary Wharf, London.
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British banks moved to Canary Wharf in search of space and modern facilities but hybrid working needs could drive banks back to the City of London’s smaller spaces.
A halfpenny token issued by the Parys Mining Company of Anglesey in 1788. The hooded druid design was used for many years and was the first of hundreds of token designs.
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A Welsh mining company was the first to issue tokens to workers as an alternative form of payment.
The U.S. Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on March 10, 2023, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis.
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Large Canadian banks are likely not at risk of bank failures, but history suggests smaller, more niche financial service firms could be.
Daily trading is worth around $3.7 trillion in London compared to $200 billion in Paris.
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Although Paris’s capitalisation overtook London’s in late 2022, the City of London is still Europe’s leading financial centre. Understanding why will require that we look beyond stock indices.
Entrepreneurs need more support.
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Better financial support is vital for growing populations.
Financial systems have evolved to allow contactless payments but people who cannot use digital services are being left behind.
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Not only are physical banks out of reach, people also face barriers to using digital financial services.
Electronic payments have expanded the Ghanaian economy.
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Taxing electronic payments is key to raising revenue form the informal sector
Chatbots can be utilised to enhance customer experience.
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Banks that do not have chatbots should explore the options of integrating them into their operations.
Technology has been key in tackling fraud.
Mpedigree
Countries have adopted a wide array of measures involving a proliferation of fraud agencies.
Banks must innovate to include financially vulnerable people.
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Banks can deploy artificial intelligence to create an understanding of current and prospective consumers and develop products that meet their needs.
India is the fifth largest economy in the world.
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COVID has now claimed over 200,000 lives on the subcontinent, and the knock-on effects are likely to be substantial.
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Once the pandemic is over, London’s gravitational pull is likely to come back into play.
City limits?
Jack Gibson
The question now is, how to turn a crisis into an opportunity.
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The UK’s financial services sector has been planning for a considerably reduced market access.