Swift today released results from a new series of experiments that show its infrastructure can seamlessly facilitate the transfer of tokenised value across multiple public and private blockchains. The findings have potential to remove significant friction slowing the growth of tokenised asset markets and enable them to scale globally as they mature. While tokenisation is
On 18 August 2023, the Bank of Namibia, in accordance with Section 15(5) of the Banking Institutions Act, 2023 (Act No. 13 of 2023), after consultation with the Minister of Finance and Public Enterprises, resolved to suspend the authorisation of Trustco Bank Namibia (Trustco Bank) to operate as a banking institution with immediate effect. The
Africa’s largest bank by assets, Standard Bank, and one of the world’s leading banks, the Industrial and Commercial Bank of China (ICBC) have renewed their strategic cooperation partnership for another five years. The partner institutions continue to lead the Africa-China trade and investment markets, jointly providing unequalled expertise and capabilities to individuals and businesses trading
Over 1,400 Fintech startups from 64 countries across Africa and beyond applied for this year’s Ecobank Fintech Challenge with eight of them making the cut to the final where they will compete for the ultimate prize. This is the sixth edition of this international competition, with the highest number of applications on record. Ecobank Group,
Swift today announced strong progress toward goals set by the G20 for enhancing cross-border payments, reporting that 89% of transactions processed on its network reach recipient banks within an hour. That’s already well ahead of speed targets set by the Financial Stability Board to achieve one-hour processing for 75% of international payments by 2027. The
Financial Software & Systems Pvt Ltd (FSS), a globally leading provider of payments technology solutions has announced the launch of ‘BLAZE’, an advanced payments technology platform, designed to meet the diverse needs of banks and financial institutions. Using BLAZE architecture, for instance, the FSS Payment Gateway can process more than 5000 transactions per second. BLAZE
Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant
South African bank Nedbank is committed to prioritizing its product development to suit the needs of its personal and small business clients. To make banking services more inclusive and accessible, the bank worked with AWS Advanced Consulting Partner Synthesis to develop a software-based point-of-sale (POS) system. The solution, built on Amazon Web Services (AWS), can
South Africa’s leading SME-focused fintech, Lulalend, has evolved into Lula, a one-stop, cash-flow management and business banking solution. This rebranding marks a critical evolution from a funding provider to an ‘all in one cash flow management platform designed to simplify financial management for SMEs. “Guided by our core belief that SMEs are the lifeblood of
Paycorp, a leading provider of payment solutions, has been licensed as a direct clearing system participant by the South African Reserve Bank (SARB). This means Paycorp can now acquire payment transactions directly into the National Payments System through BankServ Africa and internationally through its principal memberships with Visa and MasterCard. As an independent non-bank participant
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