The African Guarantee Fund (AGF) has entered into an agreement with Diamond Bank to support the bank’s lending to small businesses in West Africa to the tune of USD 25 Million. Speaking at a press conference held after the partnership agreement signing ceremony, Executive Director – Retail Banking, Diamond Bank PLC, Mr. Uzoma Dozie, said
Nedbank Limited, has selected Oracle FLEXCUBE to modernize its infrastructure and improve operating efficiency and customer service delivery. To help consolidate business operations and enhance the customer experience, Nedbank Limited will deploy Oracle FLEXCUBE to establish a single operating platform for its multi-country operations across five South African countries – Lesotho, Malawi, Swaziland, Namibia and
Standard Chartered has announced the opening of an onshore banking subsidiary in Angola, together with ENSA, a leading Angolan insurance company. The Bank has signed a joint venture with ENSA in which Standard Chartered is the majority shareholder, with 60% of the share capital of the bank, and ENSA with 40%. The subsidiary, which will
Absa Bank, a wholly-owned subsidiary of JSE-listed Barclays Africa Group, welcomes the announcement by the president of Sumitomo Mitsui Banking Corporation (SMBC), Mr.Takeshi Kunibe, that will result in further business cooperation between the two banks. The latest cooperation agreement signed on 12 January 2014 in Maputo, Mozambique, focuses on the development of Mozambique’s natural resources,
Consistent competitive pressures are forcing banks to look at new ways of gaining competitive advantage, often in the form of spending more finances and time in making sure their core banking systems are immaculate. Hence the need to gain better decision making skills to ensure resources are spent effectively in upgrading core banking systems. The
INETCO Systems Limited, a provider of transaction monitoring and analytics software, announced that Nedbank, one of South Africa’s largest banks, has licensed the INETCO Insight business transaction management (BTM) solution. Having grown by over two million individual and small business clients over the last two years, Nedbank chose INETCO Insight to improve the bank’s operational
Over 8 million people in Tanzania who fall in the informal sector now have the opportunity to access banking services, thanks to the launching of a new banking service which utilises mobile phones. Speaking at a brief ceremony, Covenant Bank Executive Director, Ms Sabetha Mwambenja said that the launching comes at a time the government
IBM has announced that Nedbank Limited, a leading financial services provider throughout Southern Africa, is using IBM’s predictive analytics solutions to improve the customer experience and provide more responsive real-time services. As a result of this technology implementation, the bank has reduced social media monitoring costs by over a million rand a year (US$105,000 per
It has come to the knowledge of the Bank of Mauritius that skimmed/cloned cards are in circulation and fraudsters are trying to use them on banks’ ATMs. Card skimming is the illegal copying of information from the magnetic strip of a credit or ATM card. This involves stealing information off a credit card during a
Bank of China has recently launched the “BOC Mobile Payment” APP. After installing this APP in mobile phones or PADs, users can easily complete mobile shopping and payment at any place any time. The “BOC Mobile Payment” APP integrates multiple mobile payment products including BOC swift payment, payment via mobile banking, and payment by agreement,
