The latest version of the FNB Banking App for smartphones now offers customers the ability to send money across the border from South Africa to Zimbabwe and Mozambique. Since its launch three years ago, the banking App has seen rapid uptake in users and transactions, making the introduction of the cross-border money transfer service on
Existing and future Absa customers now have the opportunity to fully customise and build their own transactional banking accounts according to their needs and budgets, while enjoying a wealth of lifestyle features. The Absa Features Store intends to make the lives of the banks’ customers easier by providing them with more than just banking through
African payments provider iVeri, in conjunction with Calleo, a specialist business-to-business research and consultancy firm, has released a new whitepaper titled, “Accessing the Unbanked: Branchless Banking in Africa” Currently, only around 23% of adults in Africa have a bank account. One of the main reasons for this large unbanked population in Africa is geographical inaccessibility
The mass market in Somalia will now be able to access various banking products virtually through their mobile phone after Kenya’s Rapid communications recently acquired 16% shareholding in Nationlink telecom, a GSM operator, along with the license for banking services. The company currently manages the content management system (CMS) platform for Nationlink telecom and with
United Bank for Africa Plc in partnership with Verve International has launched an offer tagged “UBA Verve Rewards” in which Cardholders could win e-cash, free airtime, Nokia mobile phones and up to N35,000 cashback Cardholders who use their UBA issued Verve cards to initiate a minimum of five POS or VAS transactions on the ATM
GCB Bank Limited has recorded a phenomenal growth in its unsecured personal loan sales of more than GH¢700 million within three years. Besides, the Bank had registered over 1.5 million transactions per month from less than 100,000 transactions in four years. The Managing Director of the Bank, Mr Simon Dornoo, who disclosed this at the
FNB announced that R9.5 billion has been withdrawn from tills across South Africa since the inception of the Cash@Till service for customers in 2012. Sixty-five percent of this amount was withdrawn in the last year alone. “We have seen strong take up of our Cash@Till service as customers withdraw from retailers across the country. The
MetaBank’s payment solutions division Meta Payment Systems recently signed an agreement to partner with hyperWALLET, a Vancouver-based company that provides domestic and international mass payment solutions for corporations. The Sioux Falls-based financial company will become hyperWALLET’s second issuing bank in the United States, issuing corporate payment cards and facilitating ACH payments for their business clients.
NBC Tanzania has appointed Mr Pius Tibazarwa as Interim Managing Director of the bank to succeed Ms Mizinga Melu who has been assigned a new role as Chief Executive Officer of Barclays Africa Regional Management. The NBC Board Chairman Dr Mussa Assad said in Dar es Salaam that the outgoing NBC Managing Director has built
Leading retail bank, Diamond Bank PLC, has launched an innovative banking product, Diamond Y’ello, as part of its financial inclusion programme to reach the unbanked. The Diamond Y’ello Account, which is run in partnership with mobile telecommunications giant, MTN Nigeria, is a hybrid account that offers the over 58 million MTN subscribers a fusion of
