SWIFT is to introduce a pre-validation service that will allow customers to detect and resolve errors that delay payment messages before they are dispatched and enable banks to give upfront fee transparency to their end customers. More than 50% of SWIFT gpi payments are credited to the beneficiary in less than 30 minutes and many
Winners of the 2018 Ecobank Fintech Challenge were announced at a ceremony held at Ecobank’s headquarters in Lome, Togo on 30th August 2018. Nala, from Tanzania, beat the ten other finalists to emerge as the overall winner of the competition. Virtual Identity from South Africa and Wallet.ng from Nigeria were the first and second runners
India Post Payments Bank, the country’s largest digital-first bank is leveraging Financial Software and Systems (FSS), a leader in payments technology and transaction processing systems, through their Payments-in-a-Box solution to bring a wide range of affordable, quality banking and payment services to financially underserved customer segments – especially rural households, small and medium enterprises and
Equity Group has launched its fintech subsidiary, Finserve, signaling a future defined by disruptive innovation beyond the Group’s current financial services. Finserve will operate as an autonomous commercial enterprise, delivering solutions not just for Equity Group, but to the entire economy. Finserve has been the technology arm of Equity Group and is credited with revolutionizing
Absa Group has become the first African bank and only the second company on the continent to join the global Sovrin Foundation as a Founding Steward – a move that means Absa now has the technology platform to build sophisticated self-sovereign digital identity capabilities for its employees and clients. “Self-sovereign identity – the emerging answer
UBA Group has unveiled chat banking in Kenya that enables customers to sign up for accounts, request for a mini statement, fund transfers and check user balance through the Facebook chat app. The service dubbed ‘LEO’ rides on Facebook Messenger, also allows customers to top up airtime, check user balance and live chat the customer
New report from Open Banking Expert Group identifies new bank roles; weighs implications for organisational change. Mobey Forum, the global industry association empowering banks and financial institutions to shape the future of digital services, today publishes a new report, entitled ‘Producers, Distributors, Aggregators: Strategic Options for Banks in the Post-PSD2 Age’. The paper identifies and
Reclaiming its African roots, the Absa Group, formerly Barclays Africa, has started trading on the Johannesburg Stock Exchange with a new share code (ABG) and a new corporate identity. Strategy Absa Group launched a new growth strategy on 1 March 2018 as it started separating from parent, Barclays PLC, which has held the controlling interest
FNB customers are increasingly using the bank’s branch based Digital Zones to transact. The bank says the use of its Digital Zones has grown considerably since introduction in 2016 with more than a third of all service transactions done in branches, completed in the digital zone. Lee-Anne van Zyl, CEO of FNB Points of Presence,
Standard Bank is one of twenty-six leading banks from 5 continents, which are re-defining banks’ purpose and business models to align the sector with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement. “Our sustainability and success are inextricably linked to the prosperity and wellbeing of the societies in which we operate. We
