FNB’s online banking platform has once again walked away with top honours in the 13th edition of the PwC survey on banking in South Africa 2013. This follows on the previous PwC survey in 2011, where FNB was also awarded first place. “The banking industry is dynamic and has evolved significantly since our last survey
Nigeria’s Access Bank aims to grow its customer base to 15-20 million across its African markets by 2018, from around 6 million now, as it shifts its focus to retail banking. Its incoming chief executive, Herbert Wigwe, who takes over at the end of the year, said retail banking will account for around 50 percent
TSYS and NetSpend Holdings, Inc. announced that TSYS has completed its acquisition of NetSpend. NetSpend is now a wholly owned TSYS subsidiary and TSYS’ fourth operating segment focusing on direct to consumer products and services. NetSpend will continue to be led by chief executive officer Dan Henry and president Chuck Harris. The segment will report
MoneyGram, a leading global money transfer company, announced that it has signed agreements with Uganda Post Limited (Posta Uganda), and Tanzania Posts Corporation (Posta Tanzania), the most extensive providers of postal services in their respective countries. In Uganda, where the population nears 33 million and inward remittances are estimated at nearly 775 million, according to
Standard Chartered Plc will start offering Islamic banking in Kenya as a springboard into the rest of Africa and it may expand services in Indonesia, its global head of Islamic consumer banking said. Shariah-compliant banking makes up two percent of Kenya’s banking industry, split between two Islamic lenders and conventional banks with Shariah-compliant products, like
The Government of Malawi announced that it is joining the Better Than Cash Alliance, committing to transition government cash payments to electronic disbursements. Malawi’s primary goals in shifting to e-money are to increase transparency, decrease costs, accelerate economic growth, and address poverty by increasing financial inclusion for all Malawians. “We have tried many different cash
An innovative new banking idea is taking hold in Zimbabwe. At Zimbabwe’s first Cattle Bank you can deposit animals as collateral against cash loans. A large portion of rural Zimbabwe is still unbanked and many people hold their wealth in the cattle they own. The Cattle Bank allows them to get and utilise monetary value
Standard Bank Group has been acknowledged by the Financial Times as the Sustainable Bank of the Year award for Africa and Middle East. The FT/IFC Sustainable Finance Awards, now in their eighth year, have established themselves as the world’s leading awards for environmentally and socially responsible banking and investment. International Finance Corporation (IFC) is a
Satellites are making it possible to transfer money between remote locations in sub-Saharan African countries that are otherwise unconnected to the outside world. An ESA (European Space Agency) project looking at ways to use satellites for services in developing nations where land networks are simply impossible or non-existent gave rise to the Agency’s SatFinAfrica pilot
The American Bankers Association released a report for policymakers on the rapidly evolving payments marketplace. The report, developed by ABA’s Emerging Payments Advisory Group, identifies three key areas for consideration: consumer protections, payment system integrity and competitive equity. The advisory group, made up of senior executives from community, regional and large banks, met earlier this
