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
US consumer adoption has grown 29.5% in the last four years 96% of global consumers are aware of at least one money transfer and payment FinTech service One-quarter of small and medium-sized enterprises use FinTech, with a 23% adoption rate in the US Financial technology (FinTech) adoption among consumers has nearly doubled over the past
Partners with Cellulant, bringing new payment capabilities across Africa, starting with Nigeria, Kenya, Tanzania, Ghana and Uganda. Adyen, the payments platform of choice for many of the world’s leading companies, has announced the expansion of its payment network to a number of major African markets, further increasing its capability to offer key payment methods around
Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020. The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to
Following the release of the ‘Consultation paper on selected interest rate benchmarks in South Africa‘ (Consultation Paper), the South African Reserve Bank (SARB) embarked on a public consultation process to solicit input on the reform proposals contained in the Consultation Paper. The public consultation period ran for three months from 30 August 2018 to 30
The Managing Director of GCB Bank Ltd, Mr Anselm Ray Sowah, has announced initiatives aimed at repositioning the Bank as the gold standard for banking in the country. The initiatives include the rolling out of a mobile wallet and mobile app, launching of a new internet banking portal with business solution and agency banking. These
Societe Generale, a leading European bank with operations in 19 African countries, and Absa Group Limited (“Absa”), a leading financial services group in Africa with presence in 12 countries, announced in January a commercial agreement on a combined wholesale banking offer to better serve their clients in their financial needs across the African continent. This
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
Zenith Bank Plc. has announced the appointment of Mr. Ebenezer Onyeagwu as the Group Managing Director/CEO of the bank effective June 1, 2019, subject to the Central Bank of Nigeria (CBN) approval. The appointment is consistent with the bank’s tradition and succession strategy of grooming leaders from within. Onyeagwu replaces Mr. Peter Amangbo, whose tenure
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by 2.2 points to reach 47.2 index points in April. This was the first increase after three months of declines in the headline PMI. However, the PMI remains below the neutral 50-point mark and is more or less in line with the average recorded in the
