Discovery Bank, today, announced that is has reached the milestone of acquiring its first one million clients. This follows the Bank’s announcement earlier this year that it had over two million active accounts. Hylton Kallner, CEO of Discovery Bank, says, “This milestone of our first million clients is a special one. While it’s only the
FCMB Client Background First City Monument Bank (FCMB) is a full-service banking institution headquartered in Lagos, Nigeria offering market-proven solutions that drive digital transformation in the banking sector. FCMB offers a diverse range of financial services, including retail banking, corporate banking, and investment banking. With a strong presence across Nigeria, FCMB is dedicated to enhancing
Interswitch East Africa (Kenya) Limited has partnered with Elie Technologies to unveil a contactless payment solution for merchants and customers in Kenya. The solution, dubbed Tumatap, will enable Micro, Small, and Medium Enterprises (MSMEs) to accept contactless payments on smartphones, thus transforming the devices into point-of-sale (POS) systems without the need for additional hardware. The
The South African fintech start-up, Omnisient, has received a $7.5 million investment from Arise, advancing financial inclusion in Africa. Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to collaborate to extract commercial insights without compromising consumer privacy. The technology provides a
MoData, a leading provider of payment solutions, has been appointed as Lusis Payments’ Africa partner to bring the TANGO payment platform to Africa. Twenty-five leading international banks and BankservAfrica have recently migrated off their legacy transaction switches onto the advanced and trusted TANGO payment platform. TANGO is built on a highly performing micro-services architecture providing
TDB Group, the Eastern and Southern African Trade and Development Bank Group has extended a USD 20 million revolving line of credit to CBZ Bank Limited to support loans for export and hard currency sectors. The facility will be used by CBZ Bank to provide loans to eligible customers operating in key export and hard currency
Ecobank Uganda Limited has formed a strategic partnership with Ria Money Transfer renowned global leader in cross-border remittance services. This partnership will significantly improve remittance options across Uganda, allowing customers to receive funds directly into their Ecobank accounts. Both account holders and non-account holders will also have the option to collect cash transfers promptly at
Nigerian fintech startup Grey has partnered leading cross-border payment platform dLocal to drive expansion into new emerging markets. Launched in 2021 by Idorenyin Obong and Femi Aghedo, Grey offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly. Its products include foreign bank accounts, instant currency
MDP, a leading payments technology provider in the Middle East and Africa, is gearing up to make its mark at the 12th edition of the Africa Fintech Summit, taking place in Nairobi, Kenya, from September 4-6, 2024. The payments technology pioneer is coming on as Africa’s Payment Enabler Sponsor for the second year running. This
MANSA, a decentralized finance platform focused on cross-border payments, has partnered with blockchain payment platform Bitmama. In essence, the collaboration aims to improve access to cross-border payment services across Africa. According to the official press release, establishing cross-border payment services in Africa presents significant challenges, primarily due to the need for pre-funded accounts in multiple
