People in Vanuatu are set to benefit from a new national digital payment platform, part of an ongoing transformation of the nation's financial infrastructure to build a modern, resilient financial system.

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.