In a new episode of Connecting Africa, CNN International’s Eleni Giokos hears the latest technology updates from some of the biggest banks on the continent as they continue to digitise. africa.com According to McKinsey, cash is still used in more than 90% of all transactions in Africa. One of the key reasons for this is …
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, …
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 …
According to IBS Intelligence, the African Development Bank has signed a $525,000 grant agreement with Africa FinTech Network (AFN) to set up the African FinTech Hub. This online portal will be a one-stop shop for all FinTech activities. The agreement was signed on 4 April 2023. The hub is a digital platform that will enable …
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 …
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 …
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 …
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 …
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, …
