Banking sector has witnessed many technological changes in recent years that offer more personalized services. The shift towards getting more digital just got more exciting with the introduction of many user-friendly technologies. As banks try to make banking quicker and secure, the option for digital innovations keeps getting more and more competitive. The first quarter of 2015 introduced some very interesting banking innovations that could revolutionize the banking experience for customers.
Banking Industry has evolved tremendously over a period of time. Nowadays, modern banking sector is doing away with its traditional methods and shifting focus to a more advanced and digitally connected network. While many countries are still struggling to get basic banking facilities, there are others that are growing not only in number but facing fierce competition from non-banks. As we all know, banking, in recent years, is not all about depositing and taking loans but much more.
If Brazil has ever suffered from a financial turmoil, it was more of a contagion effect due to 1997 Asian Crisis and 1998 Russian Crisis. It has been considered one of the strongest emerging markets and a large contributor towards global growth. However, things started looking a bit hazy for Brazil since 2008 financial crisis. It was observed that a country that could be a potential contributor to global growth could also pose an equal threat to global financial stability. But before we reach any conclusion for 2014, it is important to look back as to how Brazil evolved as a country and stood strong even when everything around her was in financial turmoil.
According to the BIS, “The choice of Switzerland for the seat of the BIS was a compromise by those countries that established the BIS: Belgium, France, Germany, Italy, Japan, the United Kingdom and the United States. When consensus could not be reached on locating the Bank in London, Brussels or Amsterdam, the choice fell on Switzerland. An independent, neutral country, Switzerland offered the BIS less exposure to undue influence from any of the major powers. Within Switzerland, Basel was chosen largely because of its location, with excellent railway connections in all directions, especially important at a time when most international travel was by train.”
