This joint initiative helps credit unions and community development finance institutions to offer their products to a wider audience, increasing competitiveness and promoting financial inclusion.

Through its all-in-one app that provides access to financial services, BABB is harnessing the power of cutting-edge technology to streamline and simplify the process of peer-to-peer transactions across borders.

Britain plans to set up a new body over the next two years to encourage more competition in banking services through the use of third-party apps from fintech firms.

With more people avoiding physical cash amid the COVID-19 pandemic, digital payments are becoming more popular in Japan.