Equity Bank has been feted as the Best Bank in Kenya in the 2023 Think Business Banking Awards for the 12th consecutive year. Equity was also named the best bank in the inaugural ESG Factors Category as well as the Most Customer-Centric Bank. The Bank won 19 awards: Winner in 14 categories, 1st Runners Up
Over the last decade the volume and value of cross-border payments has increased by 61% and 37%, respectively, while the number of correspondent banking relationships has fallen by 29%. The BIS Committee on Payments and Market Infrastructures (CPMI) today published data pertaining to 2022. The correspondent banking network facilitates a large share of cross-border payments
In recent years, Electronic Funds Transfers (EFTs) have become a bedrock of financial systems worldwide, shaping the way businesses, consumers, and banks interact. Andrew Springate, CEO of tech and financial gateway service provider PAYM8 says that by participating significantly in the EFT landscape’s modernisation, including Authenticated Collections (DebiCheck) in South Africa and Enhanced Debit Orders
As banks continue to work towards new regulatory and compliance standards, all are having to find balance between resource and funding priorities and between step-change innovation and more operational requirements. And, while compliance is a necessity, lagging too far behind in new and innovative opportunities could see them losing their competitive edge. The answer to
Friction at checkout remains a major challenge for businesses, many of which are doing everything they can to reduce cart abandonment and ensure a great customer experience. At the same time, banks face their own challenges as they are the last defence for both customer and merchant when it comes to fraud protection. However, when
ACI enables financial institutions to utilize Swift Go via the ACI Enterprise Payments Platform ACI Worldwide, a global leader in mission-critical, real-time payments software, today announced the addition of Swift Go to its cross-border payments offering. In response to the growing demand for new cross-border, real-time payment services, ACI will enable banks to utilize Swift
Swift’s KYC Registry is now fully aligned with the latest Wolfsberg Group due diligence questionnaires, giving banks everything they need to manage their correspondent relationships in one place. The more opportunities we have to share data, centralise important compliance process documentation, and bring the global financial community together, the better it is for everyone. By
Equity Group has weathered a turbulent macroeconomic environment to register a 21% growth with total assets reaching Kshs.1,537.7 billion. Funding the asset growth is a 23% growth in customer deposits with the proceeds deployed to grow loan the book by 21%. Customer deposits grew to Kshs.1,111.2 billion up from Kshs.900.9 billion while the loan book
Merchants need to educate themselves about where fraud and cyberthreat actors may strike next and stay current with security measures designed to protect cardholder data. Cybercrime and payment fraud have become big business. The most productive actors look for targets that will yield payment account information, data they can monetize on the dark web, companies
Ecobank Transnational Incorporated (“ETI”), the parent of the Ecobank Group, the leading pan-African bank with a presence in 35 African countries, held its 35th Annual General Meeting (AGM) and an Extra Ordinary General Meeting, today in Lomé, Togo. At the meeting, shareholders approved the accounts and the appropriation of profits for 2022. In addition, shareholders
