In the United States, substantial increases in educational attainment from the beginning of the 20th century through the period following World War II were instrumental in driving economic growth.11 In the emerging market world, India’s information technology (IT) services industry has thrived in large part because of the country’s large supply of well-educated, English-speaking workers. And it is not just higher education that matters.
One recent development with significant impact to correspondent banking is the rise of blockchain or distributed ledger technology (DLT). 2/5  BIS central bankers' speeches  Hence, correspondent banks must embrace this wave of innovation and rethink strategies. To grow markets in the midst of competition, new customer solutions through efficient operations should be delivered.