Real-time payments, digital currencies define future of transaction banking: executive of ANZ Banking Group

Real-time payments and digital currencies define the future of transaction banking, said an executive from the Australia and New Zealand (ANZ) Banking Group.

Hari Janakirama, head of the Industry and Innovation Transaction Banking of ANZ, made the remarks in an interview with China Global Television Network on Thursday while attending the Swift International Banker's Operation Seminar 2024 (Sibos 2024) in Beijing.

The four-day Sibos 2024 financial services forum, which concluded in Beijing on Thursday, gathered nearly 10,000 participants from over 150 countries and regions to discuss banking and payments, technology and innovation, and environmental, social and governance strategies.

"There are a few themes which are coming up when it comes to latest in transaction banking. Most of them border on the concept of real-time economy, real-time everything, so real time, freshly, real-time payments, real-time liquidity. And now, what real time means will depend on what customer segment you are talking about. So if you're talking about an individual customer, like you and me sending money overseas, for example, real time is I just wanted to happen. Many of the Asian countries in the Asia Pacific, as an example, have their domestic real-time payments network. And efforts are underway to connect these payment networks so that if you are able to make a domestic payment in real time in your country, you should be able to do the same thing when you are sending a payment to the country, neighboring country. So that is happening for consumers. And eventually that will happen for business," said Janakirama.

"The other theme which is coming on to that is digital currencies and digital assets where convergence of multiple platforms where you have a platform which enables the transfer of ownership of an asset or a property, whatever it may be. And the payment which happens separately, they are converging together to make it happen at the same time. So it is more cost efficient, more faster and more transparent for the consumer. These are specific themes which are coming up in transaction banking. And all of this is underpinned by better data access to better data, more enriched data," he said.

In the interview, Janakirama also applauded the innovative development of China's digital economy which has exerted a positive impact on the banking sector.

China's digital yuan transactions amounted to 7 trillion yuan (about 986.07 billion U.S. dollars) by the end of June this year, according to the central bank.

Real-time payments, digital currencies define future of transaction banking: executive of ANZ Banking Group

A Chinese medical team from Tianjin Eye Hospital has officially launched a free cataract surgery campaign at Tirunesh Beijing Hospital in Addis Ababa, the capital of Ethiopia.

Under the name of China-Ethiopia Brightness Journey, the Chinese medical team consisting of 10 senior ophthalmologists and nurses is set to conduct cataract surgery for more than 500 eye patients, with 80 of them having already enjoyed successful operations as of Friday. This round of the China-Ethiopia Brightness Journey will run for more than 20 days.

Amsale Belay is among the beneficiaries of the project. With help from the Chinese medical team, her vision has finally been restored.

"I'm so indebted to the medical team. I have been seeking treatment for more than two and a half years at various hospitals, but I found no solution. I was told there was no hope. But now, I have full hope," she said.

Local medics are also gaining invaluable experience in advanced treatment methods.

"We have been using manual machines for cataract surgeries. We lacked training and skilled personnel to perform surgeries with modern equipment. Now, as you can see, we are gaining high-level technological expertise and experience from the Chinese experts," said Yilikal Berhanu, a senior ophthalmologist.

"So far, we have conducted surgeries for four days. We are also actively training local doctors, hoping that they will be able to perform surgeries by themselves before we leave," said Wei Yinjun, deputy chief physician of the China-Ethiopia Brightness Journey Expert Group.

Speaking at the launch event of the project on Friday, Ethiopian Minister of Health Mekdes Daba said that the project offers far-reaching benefits.

"We will be building skills for healthcare professionals in here because through the procedures, through the one-to-one lessons, one-to-one interactions that we have, our community will have an additional shared experience, hands-on experience. We really, deeply value this project and the support that we are getting," said Daba.

Chinese Ambassador to Ethiopia Chen Hai stressed that the project is a demonstration of the friendship between the two countries.

"As a concrete step toward the goal, the "Bright Journey' project shows vividly our all-weather strategic partnership and traditional friendship," he said.

In Ethiopia, cataracts are the main cause of blindness and low vision. Data from the country's health ministry shows more than five million Ethiopians are affected by various eye disorders.

Chinese medical team provides free cataract surgery in Ethiopia