Monday, 28 September 2020
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Issue No 169

Battle for cross-border payments will reshape financial services


The novel coronavirus has proven to be much more virulent and deadly than initially assessed. The priorities now are to revive sectors, especially small businesses that have been worst hit, to restore jobs and the livelihoods of workers and to reconfigure the economy for a post COVID-19 world. There will be long-term implications that will permanently change how the global economy, international trade, commerce and financial system will operate in the future. The financial system is expected to accelerate its digital transformation and the adoption of online and remote transactions.

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