Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, has introduced a Smart Loan digital solution to enable customers who have an account with their Asset Management arm access a loan to enable them meet their medium-term financial obligations. According to the bank, the devaluation of the naira due to the global economic downturn
Integrated Payment Services Limited (IPSL) is the Kenya Bankers Association’s (KBA) real-time payment services company. Recently, IPSL launched a modernized real-time payment system based on ISO 20022. The new real-time payment system, delivered by TietoEVRY, put Kenya as one of the first countries in Africa to start running an ISO 20022 instant payments system with
Visa has announced it has completed the acquisition of Currencycloud, a global platform that enables banks and fintechs to provide innovative foreign exchange solutions for cross-border payments. The acquisition will empower Visa and Currencycloud clients and partners to provide greater transparency, flexibility and control for consumers and businesses when making international payments or doing business
Mastercard is shining a spotlight on the significance of financial inclusion in addressing some of the world’s most pressing socioeconomic challenges in a new podcast ‘Journey to One Billion’ ‘Journey to One Billion‘ charts Mastercard’s journey to deliver on its commitment to financially include one billion people into the digital economy alongside 50 million small businesses and 25
Digital Wallets: The Future of Payments Market Insight: IBS Intelligence report, in collaboration with CR2, looks at the accelerated growth in digital wallets as contactless payments pave the way for the future. The onset of COVID-19 has accelerated change in the payments sector and due to guidelines and restrictions to deter the spread of COVID-19,
By Clive Gungudoo, Director Financial Crime and Risk Management at MoData Managing financial crime risk continues to remain a major priority for regulated institutions, with millions of dollars being invested every year into upgrading systems and processes around prevention, detection, investigation and reporting of such crimes. Despite these massive investments and strategy refreshes, financial Institutions,
Version 4.0 Supports Industry Shift to Utilization of Cloud-Based Devices The PCI Security Standards Council (PCI SSC) published the latest version of its device security standard for Hardware Security Modules (HSMs). HSMs are secure cryptographic devices that are used for cryptographic-key management and the protection of sensitive data used in payment card processing. The PCI
Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), one of the fastest-growing banks in Egypt, has entered into a strategic partnership with Mastercard to launch “ABK Pay Sticker” – a contactless payment solution to enable the growth of Egypt’s digital economy, enhance financial inclusion and provide consumers with a seamless payment experience. The latest addition to
COVID-19 has led to more consumers and in-store employees avoiding physical contact and embracing social distancing. Mastercard and Providus Bank are extending the “contactless” payment solution alongside the growth of a low-touch environment, especially as more and more people are seeking safer and more secure ways to transact. Mastercard, Thales and Providus Bank have partnered to bring
A year after sharing a bold vision to enable instant and frictionless transactions from one account to another anywhere in the world, SWIFT underlines major progress in realising this vision in 2021. SWIFT has delivered on many commitments, including transforming the speed and transparency of low-value payments, removing key frictions by validating payments upfront, and
