Citi and Imperial College London Launch Latest Digital Money Report

Published 
  • Report highlights progress in digital money adoption
  • Explores the role of culture and human behaviour as drivers to change

London – Citi, in partnership with Imperial College London, has launched its third annual digital money report, which explores the current state of digital money adoption – the migration from cash to credit/ debit cards, stored value instruments and other non-paper based mechanisms – across the world and analyses the results of Citi’s 2016 Digital Money Index.

The report, titled “Releasing the Flow of Digital Money: Hitting the tipping point of adoption”, identifies five “flows” that represent the global movement of money between governments, businesses and consumers. The report highlights that addressing flows that have considerable reach and/or are repetitive in nature can help drive digital money adoption by shifting consumer behavior in the longer term.

Sandeep Dave, Director for Global Digital Strategy at Citi commented: “The themes from previous findings have been clear: the widespread use of digital money has real benefits, but adoption will receive a boost from solutions that are tailored to specific markets, often developed in partnership with other important players.”

The Index also highlights that the roles of culture and differences of human behavior are increasingly important, emphasizing that a number of less mature countries begin by making progress and developing the necessary infrastructure, but then reach an “adoption plateau”, at which point even the right structures can’t shift some weighty cultural barriers.

Sandeep Dave continues: “This year’s Index moves beyond solutions to explore the striking role of culture and the subtleties of human behavior in determining people’s propensity to adopt. Crucial is the ‘tipping point’ – the point at which people’s familiarity with and use of digital money solutions pushes adoption towards the mainstream, generating huge monetary and social benefits.”

Professor David Gann, Vice-President, Development and Innovation, Imperial College London commented: “This year’s Digital Money Report reveals further valuable insights into the growing impact that digitization of monetary flows continues to have on society including governments, businesses and consumers around the globe.”

Most recent episodes

Future Monetary Policy Path Sets Markets Against Central Banks

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management.

05:19

Podcast - Journeys to Treasury Deep-Dive: Cash Flow Hedge Accounting at JT Group

Listen to this audible case study, which provides a lens over the details of a recent cash flow hedge accounting project undertaking by the JT Group treasury team.

33:38

Podcast - Innovation as an Enabler: Sustaining Global Trade Finance in Uncertain Times

J.P. Morgan's Bayo Osolake, who joins Eleanor Hill (TMI) to discuss how treasurers can facilitate global trade in the currently turbulent macroeconomic environment.

13:07

Relative Normality On Horizon — But Divergent Monetary Policy Pathways Likely

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management.

06:34

Audio TMI - MMF Reform Proposals Threaten LVNAV Viability for European Treasurers

Proposed MMF changes currently being debated at European Commission level endanger the utility of one of the most popular forms of MMF used by corporate investors across the continent.

Audio TMI - Special FX

Two experts from NatWest share the inside track on how treasurers can better manage FX risks by shaking up legacy processes and old-fashioned thinking, improving data coll...

15:27

Audio TMI - Roadmap Towards a First-Class Group Treasury

As the perennial debate continues around the pros and cons of a centralised tre...

12:28

Audio TMI - How Etihad Covered all Three ESG Elements in One Sustainability-Linked Financing

Etihad Airways recently raised US$1.2bn in the first sustainability-linked loan in global aviation with terms that relate to all three areas of ESG.

13:26

Reducing Friction in International Payments: Five Steps for Treasury Teams

What are the steps that treasury teams can take to remove roadblocks in processing international payments? Daniela Eder, Gibran Maqsood, and Karsten Becker (Barclays) to answer this question.

30:31

Keeping the Plates Spinning: the Art of Treasury Project Management

Sandra Shen (Actualize Consulting) joins TMI's Tom Alford to offer professional insight into what defines successful treasury project management. 

18:27