The MD of GCB Bank, Anselm Ray Sowah has stated that GCB’s strong performance has increased significantly despite the challenges in the banking industry. He explained that the Bank had to deal with challenges as a result of cost hike and attendant low profit associated with the Purchase and Assumption of two banks in 2017.
Standard Bank is leveraging its digital capabilities to create superior digital platforms that enhance customer experience and enable easy and affordable access to banking services. As part of this, the bank has launched several innovative and digital firsts. This week Standard Bank introduces a R4.95p/m bank account called MyMo that customers can open on their
Altron Bytes MS and Renovite to deliver 21st century ATM services. Leading technology firm Altron Bytes Managed Solutions (Altron Bytes MS) and payments specialist Renovite Technologies have announced a new strategic partnership which will revolutionise the ATM channel. The agreement will see the two businesses help financial institutions bring innovative new services to market, echoing
Venture-backed technology company KOKO Networks today launched its first network of 700 “KOKOpoints” inside neighbourhood shops across Nairobi. KOKOpoints are multi-purpose consumer access machines, combining a fuel ATM, an e-commerce kiosk and an in-store digital media experience. KOKO builds technology for life in the world’s fastest-growing cities. The first consumer solution on the Network is
The Ombudsman for Banking Services (OBS) has released its Annual Report highlighting some interesting statistics for its operations for 2018. Key highlights for the year are: 7307 cases were closed – 12% more than in 2017 and an increase of 40% over the last two years ATM fraud complaints dropped by 4% from 18% to
The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from the ATMs, cards and point-of-sale devices. In 2018, the SARB decided to keep the interchange rates for cards and cashback at point-of-sale devices unchanged.
Brand-new research shows that the number of ATMs installed worldwide fell by 1% in 2018, to stand at 3.24 million, impacted by branch closures and the rising popularity of mobile payments. China’s ATM numbers continue rapid fall According to a brand-new report from RBR, Global ATM Market and Forecasts to 2024, ATM numbers dropped in
Popular with both banks and customers, smart ATM deposit continues to grow 1.2 million ATMs worldwide now offer automated note deposit, as banks look to reduce costs and improve customer service Banks are turning to automated deposit to reduce the cost of branch operations RBR’s report, Global ATM Market and Forecasts to 2023, reveals that
FSS (Financial Software and Systems), a global PayTech company, has announced a strategic investment in Ecentric Payment Systems, a Standard Bank subsidiary and a leading payment processor in South Africa. FSS has acquired a 46% stake in Ecentric through a combination of primary and secondary investments, with a potential to further its stake holding. FSS,
There were 3.3 million ATMs worldwide at end-2017, of which 51% were located away from branches. The number and share of off-site ATMs continue to increase, with over 15,000 new such terminals installed during 2017 Source: RBR (www.rbrlondon.com) In rural areas the ATM is sometimes the only point of contact between a bank and its
