Heritage Bank Plc has said it is committed to innovative banking services through its transparent MasterCard. Head of Corporate Communications of the bank, Mr. Fela Ibidapo disclosed this in a statement over the weekend, remarking that; “that is the philosophy behind the bank’s e-payment offerings.” According to him, there is more to e-payment than Nigerian
The challenge is for banks to strengthen their relationships with younger customers as they embrace new technology. A new generation of bank customers will bypass physical branches and banking via the web almost completely in favour of completing transactions and accessing services from their mobile devices. Financial institutions are already scaling back branches and automating
Digital Banking has not only opened access to a wider array of banking products for customers across different demographics, it also gives them full control of their banking. Khathu Ramoliko, Head of Gold at FNB, says “Over the last 12 months, we have noted that 83% of our Gold accountholders are actively using digital banking,
Digital money transfer service WorldRemit has joined forces with First Bank of Nigeria Limited (FirstBank) for instant money transfers directly to FirstBank accounts in Nigeria. The new strategic partnership considerably expands WorldRemit’s footprint and allows its customers in over 50 countries to send money to FirstBank accounts directly from their phones. The deal supports WorldRemit’s
FNB launched nav» Money; a digital solution that helps customers improve and navigate the road to financial fitness. This innovative tool is a continuation of the nav» journey which already includes nav» Home and nav» Car. Efforts to manage and understand your financial situation should be an ongoing focus for all South Africans. “The nav»
Project Khokha is a proof of concept designed to simulate a ‘real-world’ trial of a distributed ledger technology (DLT)-based wholesale payment system. The project focussed on providing participants practical experience on aspects of using DLT in a realistic test environment where different deployment models were utilised. The results show that the typical daily volume of
15 African banks have signed up to SWIFT’s global payments innovation (gpi) service, the new standard for cross-border payments. Of these, four are already live – Standard Bank of South Africa, FirstRand Bank, ABSA Bank and Nedbank – and many others are preparing to go live on the service in 2018. SWIFT gpi is the
Shoprite has announced the launch of Shoprite Money – a new mobile transactional banking service which is available to everyone in South Africa, even those without existing bank accounts. Using their Shoprite Money mobile wallet, this new service will enable customers to deposit, withdraw or send money as well as buy groceries at any of
FNB has announced that SMEs can now completely switch or open a new bank account in less than five minutes through selfie authentication and digital KYC on the FNB App. This paperless cheque account opening process uses biometric technology to validate the business and its owner, allows the SME to order and courier new cards,
Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced the implementation of interchange functionality as part of the many features of its open development payments platform, TranzAxis. Instead of needing a separate module for the automation of interchange processes, TranzAxis now supports clearing and settlement
