The High Court in Johannesburg has ruled in favour of the National Credit Regulator (NCR) against Standard Bank that the common law set-off does not apply to credit agreements subject to the National Credit Act (NCA). This follows an application for a declaratory order brought by the NCR against Standard Bank seeking legal clarity on
Diebold Nixdorf, a global leader in driving connected commerce for the banking and retail industries, has unveiled the DN Series, a family of self-service solutions designed to anticipate the needs of a progressively transforming industry. Leading banking brands, including Fifth Third Bank and BNL Gruppo BNP Paribas, are among the 18 financial institutions in 13
Nigeria’s premier bank and leading financial services provider, First Bank of Nigeria Limited has announced that it now has over 27,000 Agents on its Firstmonie Agent Network. This feat reinforces the Bank’s steering role at promoting financial inclusion in the country. The over 27,000 Firstmonie Agents are present in almost all Local Government Areas across
Botswana Telecommunications Corporation Limited (BTC), Botswana’s fastest and widely available mobile network, has revamped and introduced SMEGA, its mobile money service. SMEGA now works on Comviva’s mobiquity® Money platform, one of the world’s largest white-labeled mobile money platform. SMEGA offers consumers a quick, convenient and secure way to perform financial transactions from the comfort of
In Payments: looking to the future SWIFT challenges the community to revolutionise services and collaborate to bring this future closer. On the last day of the African Regional Conference (ARC) taking place in Accra, Ghana, SWIFT has released a landmark paper, “Payments: looking to the future”, in which the global co-operative articulates the future of
After careful consideration and consultation with key stakeholders, PASA will be reducing the maximum value for writing a cheque from the current value of R500 000 to R50 000, effective 01 May 2020. Walter Volker, Chief Executive Officer of PASA believes that this limit reduction stems from the need for better risk management and the
Video banking technology provides banks with the ability to extend their services to more customers at a lower cost than full-service branches. Another banking touchpoint According to RBR’s Teller Automation and Branch Transformation 2019 report, which covers 23 key global markets, a number of financial institutions are turning to video banking technology to extend their
Specialist financial services provider Sasfin Bank has established a Digital Advisory Council to provide the market with industry-leading expertise and insights on trends shaping the use of technology in financial services. Digitalisation is one of the most powerful forces for change shaping Finance today. This has turned Fintech into one of the most vibrant sectors
Figures released at SWIFT’s 26th African Regional Conference show much stronger growth in particular regions, including in West Africa at 29% Data released at the SWIFT African Regional Conference shows that SWIFT FIN messaging traffic in Africa has grown by 4.4% in the year-to-date. Figures are even stronger in the West African Monetary Zone, where
PayU announces the acquisition of iyzico – a digital payment services provider and one of the most hotly tipped fintech start-ups in Turkey – for $165 million. The acquisition, which adds to the over $500 million PayU deployed across fintech investments and M&A, is a further step in the company’s mission to become the leading
