Banking Transformation Africa

How banks are responding to Africa’s and the Middle East’s Evolving Financial Needs

The global financial landscape has changed profoundly after the COVID-19 pandemic, with digitalisation being a key driver. During their post-pandemic routes to recovery, banks around the world have increasingly moved away from conventional banking methods toward more data-driven, digital business models. This has come in response to the growing demands for instant and personalised services, …

Fintech news

TymeBank Joins PayShap Revolution

Accordingly to itnewsafrica, TymeBank, South Africa’s fastest-growing digital bank, pioneers the integration of PayShap. As the first South African bank to provide this real-time interbank digital payments service, TymeBank offers its 7.6 million customers free access to payments up to the R3,000 limit using cellphone numbers (ShapID). This emphasizes the bank’s dedication to delivering affordable …

Banking Transformation Africa

Navigating a new world of payments in sub-Saharan Africa

The Covid-19 Pandemic has exposed the Achille’s heel, as well as a ripe opportunity, in sub- Saharan Africa’s trade and payments landscape. Chipo Mushwana, Executive of Emerging Payments at Nedbank explores the challenges and solutions to support the continent’s consumer and business population in economic recovery. Various studies place the rate of financial inclusion in …

Banking Transformation Africa

“SHYFTING” MINDSETS: BUILDING STANDARD BANK’S DIGITAL FX APP SHYFT BY CURRENCYCLOUD

BACKGROUND Standard Bank Group is the largest African banking group by assets; US$170bn, and an employee headcount of 55,000. Founded over 150 years ago, the business is a client-centered, digitally enabled financial organization. It has a presence in 20 countries on the African continent — building its first franchise in the sub-Saharan region 30 years ago …

Banking Transformation Africa

96% of African banks have Digital Transformation top of their agendas

The global pandemic has created an unprecedented digital banking pivot point. Customers are now more demanding than ever before. Business as usual is simply not enough. Banks and financial institutions are facing real challenges in moving away from product centricity and legacy technologies to customer centricity and personalised seamless solutions. Most financial institutions entered a …

Cybersecurity in banking

Cybersecurity in Banking

The cyber-threats and security risks that threaten the banking industry have the potential to cause significant damage, as has been evident in past incidents that have led to monumental losses of both funds and financial data. It’s important for banks to define, understand and mitigate the cybersecurity risks.  We caught up with Itumeleng Makgati, Group …

Banking Transformation Africa

COVID-19 Pushed Consumers to Digital Banking

The global pandemic has created an unprecedented digital banking pivot point. Customers are now more demanding than ever before. Covid-19 triggered a reduction in the usage of ATMs and cash. Fewer stores were open, and for many people, touch screens and keypads were potential vectors of infection. Instead consumers found themselves utilizing digital payments including contactless, …