Digitalisation and emerging markets for OMFIF magazine

Phil was invited to research an article for a magazine published by the Digital Monetary Institute at the thinktank OMFIF that is looking at the future of capital markets in 2022. It focused on how digital finance offers hope of internationalising emerging markets.

It looked at how international financial institutions are examining the potential of the ongoing revolution in digital money to enable emerging markets and developing countries to participate more in both local currency and international capital markets.

Phil spoke with experts at the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the Bank of International Settlements.

The article looks at the ways in which digital finance has changed the ways that policymakers in emerging and developing are adapting to allow the creation of digital money channels in their economies and the benefits they bring in terms of financial access and inclusion. It also looks at how international financial institutions can work with EMDCs to make the step up from personal finance towards using digitalisation to improve the way they issue debt on the capital markets. It looks at both opportunities and threats in a wide-ranging discussion.

The long-form article can be found here.

The business of asset transfers

Phil looked at the issue of asset re-registrations – what happens for example when someone switches pension provider. The ability of financial services firms to transfer or re-register customer assets to another organisation is a little known, but vital part of how modern consumer finance should work. Since the surge in demand for independent savings accounts (ISAs), the creation of self-investedpersonal pensionn plans and the launch of the government-backed workplace pensions, the need for efficient transfers has become key.

The article in The Review magazine of the Chartered Institute of Securities and Investment spoke to regulators and pension fund managers about how asset transfers are going to be speeded up and the challenges and opportunities that presents. The article is here.