Salesforce Live – The Nottingham Building Society rethinks digital strategy in light of COVID-19

(Image sourced via The Nottingham Building Society Facebook )

The Nottingham Building Society was founded back in 1849 by a small group of Nottingham businessmen, led by local Quaker Samuel Fox. The first ever branch used to open between 6pm and 9pm on the first Tuesday of each month and the vision for the building society was to help people own their own home, as well as offer them a safe and secure place for their savings.

Since then The Nottingham (as it’s more commonly known) has grown to serve over a quarter of a million members across the UK and now has 67 branches across 11 counties. Gone too are the days of a three hour opening window once a month, with the building society expanding its use of digital services for members rapidly.

The Nottingham has had a digital strategy in place for over three years, which served

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China hands out $1.5m of digital currency in cashless society trial

  • Authorities in Shenzhen, southern China, have handed out $1.5 million of a new digital currency as part of a trial of a cashless society.
  • Last Friday authorities gave 50,000 lottery winners the equivalent of $30 each to spend digitally by October 16, the state-run China Daily reported Monday.
  • The digital currency is not like a cryptocurrency, and is issued and controlled by China’s central bank, the People’s Bank of China.
  • The PBoC said it plans to formally launch the digital payment system in late 2020, according to the BBC.
  • Visit Business Insider’s homepage for more stories.

A Chinese city has handed out 10 million yuan, or $1.5 million, in digital currency to trial what citizens would do in a cashless society.

On Friday, 50,000 people living in the Luhou district of Shenzhen were given digital “red envelopes,” each containing around 200 yuan ($30) worth of the digital currency, the state-run

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A Chinese city is handing out $1.5 million in digital ‘red envelopes’ to lottery winners to trial a cashless society



a view of a city with tall buildings in the background: Futian district in Shenzhen, China. A different district, Luhou, took part in the digital currency pilot. Prisma by Dukas/Universal Images Group via Getty Images


© Provided by Business Insider
Futian district in Shenzhen, China. A different district, Luhou, took part in the digital currency pilot. Prisma by Dukas/Universal Images Group via Getty Images

  • Authorities in Shenzhen, southern China, have handed out $1.5 million of a new digital currency as part of a trial of a cashless society.
  • Last Friday authorities gave 50,000 lottery winners the equivalent of $30 each to spend digitally by October 16, the state-run China Daily reported Monday.
  • The digital currency is not like a cryptocurrency, and is issued and controlled by China’s central bank, the People’s Bank of China.
  • The PBoC said it plans to formally launch the digital payment system in late 2020, according to the BBC.
  • Visit Business Insider’s homepage for more stories.

A Chinese city has handed out 10 million yuan, or $1.5 million, in digital currency to trial what citizens would do in a cashless society.

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Japan must revise BOJ law to speed digital yen, enshrine inflation goal: senior official

By Leika Kihara and Takahiko Wada



Kozo Yamamoto wearing a suit and tie: FILE PHOTO: Yamamoto speaks in Tokyo


© Reuters/Kim Kyung Hoon
FILE PHOTO: Yamamoto speaks in Tokyo

TOKYO (Reuters) – Japan must swiftly revise laws to allow the central bank to issue a digital currency, a move that could provide a chance to reform the Bank of Japan’s existing mandates and enshrine its inflation target, a senior ruling party official said on Monday.

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Kozo Yamamoto, head of the Liberal Democratic Party’s (LDP) council on financial affairs, said the BOJ risked being overtaken by private players who could launch their own digital currencies that could undermine the yen.

“If something too convenient pops up from the private sector, people might start to doubt whether they need yen as a currency unit. We must prevent this from happening,” he said. “This is fundamentally about protecting Japan’s currency sovereignty.”

Yamamoto said he would prod the government and relevant agencies to speed up

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NIC Secures New Contracts in Florida and Iowa for Payment Processing and Digital Government Solutions

Digital government solutions firm NIC Inc. has won new multi-year contracts with the states of Florida and Iowa following competitive bid processes.

“We are excited by the confidence Florida and Iowa have placed in NIC solutions as we continue to expand our payment processing and digital government services across the country,” said Harry Herington, NIC CEO and Chairman of the Board. “These wins further reinforce the momentum NIC has experienced in 2020.”

In Florida, NIC has been awarded a contract to provide transaction-funded payment processing services for all state agencies. The five-year transaction-funded contract, which may be extended by up to five additional years, also provides the ability for cities and municipalities to work with NIC for payment processing services, promoting a comprehensive and seamless financial transaction experience for Florida citizens and businesses.

For its fiscal year ended June 2018, the state of Florida processed 74 million transactions for a

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Australian government to pour AU$800m in digital business push

The Australian government has announced it will expand its digital identity system, touting that the move will allow more businesses to securely access government services online as part of its newly announced AU$800 million Digital Business Package.

The opt-in service allows users to verify their identity once before gaining access to over 70 government services, rather than having to continually be verified by each Commonwealth entity. It is currently being used by 1.6 million Australians and 1.16 million businesses.

“We need our businesses to be online, we need them to be digital businesses,” Prime Minister Scott Morrison said on Tuesday.

“In recent months we have seen through COVID a rapid acceleration produced by necessity of businesses really engaging and upgrading their digital capability. What we’re announcing today, will build on that. It will strengthen it and it will accelerate it.”

The package also includes AU$28.5 million dedicated towards rolling out

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The University Musical Society Announces Digital Artist Residency Partners & Projects

Kick off events will take place on Tuesday, September 29 at 5:30 pm ET and Wednesday, September 30 at 12 noon ET.

The University Musical Society Announces Digital Artist Residency Partners & Projects

The University Musical Society has announced its full cohort of Digital Artist Residency artists, each of whom will explore timely themes through an array of new creative projects being developed specifically for the digital frame. The six artist-led projects will connect artists to audiences in brand new ways, from rarely visible behind-the-scenes creative development all the way to presentations of finished works, some of which will be experienced digitally and some, eventually, to in-person audiences. The projects will be presented in various stages of creative development over the course of the next year. Participating artists will also connect to audiences, including students, faculty, and the broader community, through informal conversations, participatory experiences, discussions about the creative process, and other activities. Information about all of the projects will continue

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Society 5.0 needs Digital Asset Fintech Hubs

Japan’s “Society 5.0” refers to the fifth stride in human civilization evolution to create a “super-smart” future society which leverages the technological innovations of the current fourth industrial revolution (4IR) to achieve economic advancement and
embed these in society to solve people’s problems so that they can live better lives. And Digital Asset Fintech Hubs can play a key part in that project. Let’s take a look at the reasons.

Society 5.0 addresses a number of key pillars: Infrastructure, Fintech (including blockchain), Healthcare, Logistics and Artificial Intelligence (AI).

Whilst the pandemic has accelerated 4IR development through rapid digital transformation, it will also be the catalyst to kick start Society 5.0. Nations which harness this effectively will become the super societies of the future. Taking Fintech to the
next level will be essential for such enablement to reinvent the way financial services are conducted.

How can Fintech Hubs become smarter?

A

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