Ecobank Transnational Incorporated (ETI) and Nedbank Group Limited (Nedbank Group) jointly announced that Nedbank Group is to acquire a 20 percent shareholding in ETI. Nedbank Group will subscribe in cash for 4,512,618,890 new ETI shares for USD493.4 million. ETI will repay Nedbank’s loan of USD285 million granted to ETI in 2011 out of the subscription
Fundtech, a market leader in global transaction banking solutions and the largest SWIFT service bureau operator in the world, has been named “Best SWIFT Utility Access” by Global Finance as part of the publication’s 2014 World’s Best Treasury & Cash Management Awards. The Global Finance award winners were selected by the editors with input from
SkyVision Global Networks Ltd., a leading global communications provider, announced its recent partnership with Unity Bank, one of Nigeria’s leading retail financial institutions. SkyVision provided its satellite-based Virtual Private Network (VPN) services via its local Nigerian hub to support Unity Bank’s LAN network, connecting the bank’s headquarters in Lagos to its numerous branch offices nationwide.
TWIGA Bancorp Limited (TBCL) and Tanzania Revenue Authority have launched a new service to help customers to pay taxes through a network of Tanzania Customs Integrated Systems (TANCIS). The Chairman of Board of Directors of TBCL, Prof Amon Mbelle, said in Dar es Salaam that the partnership was aimed at improving services to customers wherever
Fundtech, a market leader in global transaction banking solutions, announces that Standard Bank has selected Fundtech’s cash management solution, Global CASHplus, to provide real-time liquidity management, cash flow forecasting, and balance reporting services to its corporate customers. It will give the bank the ability to provide its corporate customers with improved liquidity through full visibility
Millions of Barclays customers now control their finances with easy-to-use smartphone apps and online banking technology allowing them to have the freedom to bank wherever and whenever they choose. Latest figures show the average Barclays customer visits a branch less than twice a month and uses Barclays Mobile Banking 26 times a month. Since the
VeriFone Systems, Inc. and Vantiv, Inc. a leading provider of payment processing services and related technology solutions for merchants and financial institutions of all sizes won The Banker Technology Project of the Year 2014 award in the Risk Management category for their industry-leading, multi-layered approach to reducing cardholder data security risk using end-to-end encryption. Read
Capitec Bank posted headline earnings growth for the six month period to end August 2014 of 21%. Headline earnings per share was also up 21% to 1018 cents. An interim dividend per share of 246 cents was declared, up from 203 cents a year ago. The bank reported that income was driven by client growth,
Solidarity Research, a division of trade union solidarity has released their annual Bank Charges Report. The report does a comparison of bank fees across South Africa’s top 5 banks, Standard Bank, Absa, FNB, Nedbank, and Capitec Bank. Their research found that Capitec bank has the lowest bank charges for personal transactional accounts, even for clients
The Authority has allowed Finserve Africa Limited, a subsidiary of Equity Bank to roll-out its services using the thin SIM technology, for a one year trial period. This follows contention by Mobile Service Provider, Safaricom over the use of the technology in the Kenyan market, citing possible security flaws. Addressing the press, CA Chairman Ngene
