This first report deals with some of the major development issues confronting the developing countries and explores the relationship of the major trends in the international economy to them. It is designed to help clarify some of the linkages between the international economy and domestic strategies in the developing countries against the background of growing interdependence and increasing complexity in the world economy. It assesses the prospects for progress in accelerating growth and alleviating poverty, and identifies some of the major policy issues which will affect these prospects.

This book documents frontier knowledge on the drivers of agriculture productivity to derive pragmatic policy advice for governments and development partners on reducing poverty and boosting shared prosperity. The analysis describes global trends and long-term sources of total factor productivity growth, along with broad trends in partial factor productivity for land and labor, revisiting the question of scale economies in farming. Technology is central to growth in agricultural productivity, yet across many parts of the developing world, readily available technology is never taken up. We investigate demand-side constraints of the technology equation to analyze factors that might influence producers, particularly poor producers, to adopt modern technology. Agriculture and food systems are rapidly transforming, characterized by shifting food preferences, the rise and growing sophistication of value chains, the increasing globalization of agriculture, and the expanding role of the public and private sectors in bringing about efficient and more rapid productivity growth. In light of this transformation, the analysis focuses on the supply side of the technology equation, exploring how the enabling environment and regulations related to trade and intellectual property rights stimulate Research and Development to raise productivity. The book also discusses emerging developments in modern value chains that contribute to rising productivity. This book is the fourth volume of the World Bank Productivity Project, which seeks to bring frontier thinking on the measurement and determinants of productivity to global policy makers.

Competitive advantage in banking comes from effective use of technology The Handbook of Banking Technology provides a blueprint for the future of banking, with deep insight into the technologies at the heart of the industry. The rapid evolution of IT brings continual change and demand for investment — yet keeping pace with these changes has become an essential part of doing business. This book describes how banks can harness the power of current and upcoming technology to add business value and gain a competitive advantage; you'll learn how banks are using technology to drive business today, and which emerging trends are likely to drive the evolution of banking over the next decade. Regulation is playing an ever increasing role in banking and the impact of regulatory change on technology and the management of it are discussed — while mandatory changes put pressure on many of our high street banking brands, their ability to adapt and utilise technology will have a fundamental impact on their success in the rapidly changing marketplace. Technology costs can amount to 15 per cent or more of operational costs and bank leaders need to be able to make informed decisions about technology investments in light of the potential benefits. This book explores the depth and breadth of banking technology to help decision makers stay up to date and drive better business. Assess your current technology against the new banking paradigms Procure the systems needed to protect the bottom line Implement newer technology more efficiently and effectively Ensure compliance and drive value with appropriate technology management Technological change is driven by mass adoption of new channels, innovation from new entrants, and by banks themselves as a means of increasing revenue and reducing costs. The Handbook of Banking Technology offers a comprehensive look at the role of technology in banking, and the impact it will have in the coming years.

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

The financial services industry is being transformed by heightened regulation, technological disruption, and changing demographics. These structural forces have lowered barriers to entry, increasing competition from within and outside the industry, in the form of entrepreneurial fintech start-ups to large, non-financial technology-based companies. The Technological Revolution in Financial Services is an invaluable resource for those eager to understand the evolving financial industry. This edited volume outlines the strategic implications for financial services firms in North America, Europe, and other advanced economies. The most successful banks, insurance companies, and asset managers will partner with financial technology companies to provide a better and more innovative experience services to retail customers and small businesses. Ultimately this technological revolution will benefit customers and lead to a more open and inclusive financial system.

Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia The future of banking is already here — are you ready? Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world’s best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility — it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists. In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you: Understand the historical precedents that flag a fundamental rethinking in banking Discover low-friction, technology experiences that undermine the products we sell today Think through the evolution of identity, value and assets as cash and cards become obsolete Learn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of banking Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful. When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future.

Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.

This paper analyzes the importance of information technology (IT) in banking for entrepreneurship. To guide our empirical analysis, we build a parsimonious model of bank screening and lending that predicts that IT in banking can spur entrepreneurship by making it easier for startups to borrow against collateral. We provide empirical evidence that job creation by young firms is stronger in US counties that are more exposed to ITintensive banks. Consistent with a strengthened collateral lending channel for IT banks, entrepreneurship increases more in IT-exposed counties when house prices rise. In line with the model's implications, IT in banking increases startup activity without diminishing startup quality and it also weakens the importance of geographical distance between borrowers and lenders. These results suggest that banks' IT adoption can increase dynamism and productivity.

The financial crisis is just beginning for retail institutions. Ninety to ninety-five per cent of bank transactions are executed electronically today. The Internet, ATMs, call centres and smartphones have become mainstream for customers. But banks still classify these as alternative channels and maintain an organisation structure where Branch dominates thinking. Continued technology innovations, Web 2.0, social networking, app phones and mobility are also stretching traditional banking models to the limit. BANK 2.0 reveals why customer behaviour is so rapidly changing, how branches will evolve, why cheques are disappearing, and why your mobile phone will replace your wallet all within the next 10 years.

Managing the New Bank Technology is a practical action-oriented guide for bank CEOs, executives, business students, and boards. The book is aimed at educating those involved in banking on the key technological issues facing the industry. "Quick reference" guides opening each chapter are a special feature of the book, blueprints that offer bottom line summary suggestions for bank officers and executives. Topics include: Banking as Retailing; The Internet and Financial Services; Strategies for Future Payment Systems; Risk Management Technology; Protecting Technology Investments in an Age of Rapid Change; Negotiating Outsourcing Contracts; Developing an Information System Plan; Organizational Strategies to Manage Technology; Battling Fraud and Security Issues; and Selling Your Bank's Technology Vision.