Emerging markets getting a jump on embracing tech innovation

IT wasn't all that long ago that shopping for clothes, books and other wares meant travelling to a store, mall or market. Today, we can buy nearly anything on the Internet from any location. The world's largest online retailer is located in China.

Just a few years ago, making a bank deposit meant a trip to a local bank branch, where you'd stand in line to wait for a bank teller to process your transaction. Today, Poland is considered a leader in online banking technology, with one bank there offering features such as 30-second loan approval via mobile phone as well as alerts offering custom advice and discounts based on a user's behaviour and location. A Turkish bank won a global innovation award in 2017 for its agricultural smartphone app, which helps farmers share data and information and get advice in real time.

The largest maker of smartphones to power these online transactions is located in South Korea.