Abbreviations

AI

artificial intelligence

ATM

automatic teller machine

AUM

assets under management

B2B

business-to-business

B2C

business-to-consumer

BATX

Baidu, Alibaba, Tencent, and Xiaomi

BEPS

base erosion and profit shifting

C2C

customer-to-customer

CB

central bank

CBDC

central bank digital currency

CDU

Christian Democratic Union

CDS

credit default swaps

CEO

chief executive officer

CGAP

Consultative Group to Assist the Poorest

COD

cash on delivery

CPI

Consumer Price Index

CSU

Christian Social Union

DLT

distributed ledger technology

EA

euro area

EC

European Commission

ECB

European Central Bank

EGDI

E-Government Development Index

ERP

enterprise resource planning

ETF

exchange-traded fund

EU

European Union

FATCA

Foreign Account Tax Compliance Act

Fed

Federal Reserve System or Federal Reserve

FI

financial institutions

Fintech

financial technology

FRED

Federal Reserve Economic Data

FX

foreign exchange

G2C

government-to-consumer

G2P

government-to-person

GAFA

Google, Apple, Facebook, and Amazon

GDP

gross domestic product

Global Findex

Global Financial Inclusion Database

GNI

gross national income

GST

goods and services tax

HIV

human immunodeficiency virus

HNWI

high net worth individual

ICT

information and communications technology

ID

identity document

IMF

International Monetary Fund

IoT

Internet of Things

IPO

initial public offering

IRA

individual retirement account

IRS

Internal Revenue Service

IT

information technology

KYC

Know Your Customer

MFI

microfinance institution

MSME

micro, small, and medium enterprises

NICT

new information and communications technologies

NGO

nongovernmental organizations

NYSE

New York Stock Exchange

OADR

old-age dependency ratio

OECD

Organization for Economic Co-operation and Development

PE

private equity

P2P

peer-to-peer

PBoC

People’s Bank of China

PM

prime minister

PPP

Paycheck Protection Program

QR Code

quick response code

RFID

radio frequency identification

SEC

Securities and Exchange Commission

SEPA

single euro area payment

SMB

small and medium business

SME

small and medium enterprise

SMS

short message service

STP

straight-through processing

SWIFT

Society for Worldwide Interbank Financial Telecommunication

TIAA

Teachers Insurance and Annuity Association

TFP

total-factor productivity

UAE

United Arab Emirates

UIDAI

Unique Identification Authority of India

UK

United Kingdom

UN

United Nations

UNICEF

United Nations Children’s Fund

UNRISD

United Nations Research Institute for Social Development

US

United States

USD

United States dollar

VAT

value-added tax

WB

World Bank

WFP

World Food Programme

WHO

World Health Organization

WID

wealth and income database