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Mongolia’s Fintech Future: Building a Digital Economy in a Land of Contrasts

The Fintech Times

Following the collapse of Soviet control, Mongolia rapidly transitioned to a free-market economy by 1992, embracing economic reforms that opened the door to global trade and investment. Mongolia is currently classified as a lower-middle-income economy, with a gross domestic product (GDP) per capita exceeding $5,000.

Economy 115
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Industry Reacts as UK Government Commits Over £100Million To AI Advancement

The Fintech Times

The UK government has set over £100million aside for researching and developing Artificial Intelligence (AI) technology, and to support regulation in the space. The government has also pledged £10million to prepare and upskill regulators to address and make the most of the opportunities presented by AI.

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Raidiam Continues Global Growth With Two New Appointments

Fintech Finance

On joining Raidiam, Lauren said: “The data economy will be the future lifeblood of nations. I am excited to join this expert team of pioneers who truly recognise the importance of Open Finance and support governments and regulators in unlocking their data potential.”

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Thai Government Adjusts Digital Wallet Handout Plan to Include Cash Payments

Fintech News

Thailand’s Prime Minister Paetongtarn Shinawatra announced that a portion of the government’s 450 billion baht (US$13.1 The digital handout, a central part of the ruling Pheu Thai Party’s election platform, aims to stimulate the Thai economy, which grew by 2.3% is continuing to push forward with the initiative.

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Digital-First Economy Redefines Retail And Consumer Behavior

PYMNTS

When it’s said and done there was only one story that mattered in the retail universe this year and it was the rise of the digital-first economy. government Census department put the eCommerce increase from Q1 2020 to Q2 at 44 percent – a total number of $211 billion. The numbers speak for themselves. D2C Explodes. That dropped to 44.4

Economy 118
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Sri Lanka On the Road to Recovery: Fintech’s Impact on the Economy

The Fintech Times

In the last five years, Sri Lanka’s economy has struggled greatly. Furthermore, there were major tax cuts which further dampened much-needed government revenues. Since these actions were taken, the fintech sector has continued to grow in Sri Lanka. Could fintech be the catalyst it needs to see a revival?

Economy 96
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Mastercard and The Clearing House deepen their partnership to zero in on new instant payments applications 

Tearsheet

This extended partnership will focus on integrating additional instant payment use cases across a range of payment flows for consumers, businesses, and governments. For governments, it helps activate local economies through disbursement and settlement. We look forward to continuing our work with TCH.