Overcoming a set of significant challenges that no business should have to face in South Africa, JSE-listed investment holding company, Ayo Technology Solutions (AYO), released its audited condensed consolidated annual financial results for the year ended 31 August 2023 today. Whilst the results show a reduction in profits, a 28% increase in revenue bodes well
Mastercard’s second annual Community Pass Customer Summit in Kampala, Uganda gathered more than 90 public and private sector partners, featured 20+ thought leaders dedicated to crafting sustainable solutions for digital and financial inclusion across Africa and beyond. This year’s summit showcased over 10 cutting-edge technologies and financial institutions, each presenting their digital solutions designed to
Luis Bengoechea appointed as Head of the Banking Department, effective June 2024. Hyun Song Shin to assume role of Head of the Monetary and Economic Department, effective January 2025, upon the retirement of Claudio Borio at end-2024. The Board of Directors of the Bank for International Settlements (BIS) has appointed Luis Bengoechea as Head of
Apart from going into a branch, calling a bank feels more human for digital-shy consumers. For many, it is the first port of call for making account changes or moving large sums of money. But how safe is voice banking really, and what are the chances of someone using generative AI to fake a consumer’s
Assisted Self-Service Terminals are helping banks optimise their physical networks The number of Assisted Self-Service Terminals (ASSTs) installed both inside and outside branches worldwide continues to see double-digit growth. These devices are instrumental in migrating transactions away from the teller line and extending access both in terms of service hours and geographic reach Banks seek
Open banking and Embedded Finance platform, FutureBank, has announced a partnership with leading global issuer-processor, Paymentology, to provide banks and fintechs with streamlined integration to modern card issuing and processing technology, enabling instant issuance of virtual cards. Paymentology provides banks, fintechs and telcos with the technology to issue and process any type of physical or
The European Investment Bank and the Central Bank of Kenya today launched a new climate finance best practice initiative to strengthen engagement by Kenyan financial institutions to finance climate-related investment, enable commercial banks to mobilize climate finance essential to achieving a net zero economy and strengthening the climate resilience of the Kenyan financial systems. The
Standard Bank Personal and Private Banking has announced a big increase in its green solution funding today. The bank has led a concerted effort to disburse funds to individuals in South Africa for installing solar solutions or purchasing ‘green-aligned’ homes. Year to date the bank’s consumer green lending book has grown by over 26% to
Direct Transact, the largest independent provider of banking and payment solutions for banks and brands in South Africa, has teamed up with open banking platform and fintech marketplace, FutureBank, to further accelerate its technology platform capabilities. The partnership will facilitate the rapid rollout of embedded finance in Sub-Saharan Africa. Embedded finance is the fintech practice
South Africans have become used to excellent in-app security when it comes to banking and other online transactions. Looking ahead, passkey technology will mean we could soon enjoy the same unphishable, biometric-based solution in the browser, boosting consumer confidence and helping foster digital adoption. “As banking apps have become more secure, fraudsters have naturally looked
