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Weekly News Roundup: 01/09

Welcome to our weekly news roundup, of headlines which caught our eye. We’ll bring you a weekly dose of some of the most interesting titles which have surfaced, with a particular focus on the topics of AI, Hong Kong’s fintech, mobile money and beyond.
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This week’s roundup will feature titles on AI, mobile money, and fintech in Hong Kong. Join us and Unlimit BaaS’ Managing Director, Jovi Overo in the exploration of some of the biggest headlines of our industry.

  • Mastercard partners with the UAE government to increase AI capabilities and readiness across the region. [source: The Paypers]

We see AI being used in many ways, such as improving customer experience, data, communications and of course in the payments ecosystem. The UAE government and Mastercard will work together to focus on combating financial crime, supporting their digital ecosystem and promoting growth in and around the UAE. AI already has a place in powering numerous operations and advancing digital intelligence across business, regions and continents – and so the partnership will most definitely support the transformational growth of the UAE and their position as a technological hub. – Jovi

  • The Hong Kong Monetary Authority is driving a fintech revolution with a 12-month roadmap. [source: Fintech Global]

Hong Kong has launched their new roadmap as part of the wider Fintech 2025 strategy which was launched by the Hong Kong Monetary Authority back in 2021. The strategy is set to inspire greater investment technology across numerous financial services, such as green finance, insurance and wealth management. Hong Kong is already a fintech powerhouse and with the potential success of their 12-month roadmap, Hong Kong could see a cut in operational costs and further strengthen their position as a financial and technological hub. – Jovi

  • M-Pesa mobile money service goes live in Ethiopia [source: Finextra]

M-Pesa is a mobile money service that is extremely successful in Africa, and has been bringing financial access to both the banked and unbanked for years. The further expansion of M-Pesa is a step towards financial inclusivity, as users who have mobile phones, but may not have a bank account or have limited access to banking services are able to manage funds safely and conveniently. Now 4 million Ethiopians will have immediate access to M-PESA’s services and payment ecosystem. – Jovi

See you next week, back in the blog for your next weekly news roundup.

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