The growth in digital banking and e-commerce, spurred on by the COVID-19 pandemic, provides fertile ground for fraudsters and money launderers to commit crimes anonymously. Fraud and Cybercrimes thought leader, Clive Gungudoo, MoData’s Director of Financial Crimes and Risk Management, highlights five essential controls organisations need to put in place to protect their digital customer
The report looks at how niche markets push banks to innovate – to go beyond supporting basic and necessary banking transactions – on the same digital banking platform CR2’s latest market insight report, ‘Adopt an Agile Digital Banking Platform’ has been written in collaboration with Stessa Cohen (www.pivotassets.co), an internationally recognised expert on the digital
Integrated Payment Services Limited (IPSL) is the Kenya Bankers Association’s (KBA) real-time payment services company. Recently, IPSL launched a modernized real-time payment system based on ISO 20022. The new real-time payment system, delivered by TietoEVRY, put Kenya as one of the first countries in Africa to start running an ISO 20022 instant payments system with
Digital Wallets: The Future of Payments Market Insight: IBS Intelligence report, in collaboration with CR2, looks at the accelerated growth in digital wallets as contactless payments pave the way for the future. The onset of COVID-19 has accelerated change in the payments sector and due to guidelines and restrictions to deter the spread of COVID-19,
More than 10 million customers now bank with Standard Bank in South Africa. Since the start of the year 1 million new customers have joined Standard Bank. Customers are signing on to Standard Bank services taking advantage of access to digital services and offerings. Standard Bank has ensured that is has rapidly transformed its digital
On 1 November this year, South Africa welcomed the introduction of the DebiCheck payment system to tighten measures against debit order fraud and abuse. But as with many new policies and procedures, there has been adoption, but it is far from universal. According to Andrew Springate, CEO of PAYM8, a technology and financial gateway service
Mastercard and Jordan Kuwait Bank (JKB) have partnered to launch the Jordan Kuwait Bank Biometric World Elite Mastercard – the first commercially-available Mastercard biometric card in Jordan and the first World Elite card in the Middle East and Africa region to feature biometric authentication Benefiting from Mastercard’s industry-leading technology, Jordan Kuwait Bank cardholders will be
While there are many common global scams like phishing, vishing, smishing, and identity theft – there has also been an increase in investment scams that are targeting unsuspecting consumers. Ramesh Ramdeen, Head of Fraud at FNB Wealth and Investments, says that “fraudsters have become increasingly sophisticated and bold in their criminal activities. Consumers are often
This expansion of the MCB’s scope to the Middle Eastern region is aligned with its mandate to further facilitate transactions to and from Africa The Mauritius Commercial Bank (MCB) (www.MCB.mu) announces that it has been licensed by the Dubai Financial Services Authority to provide Advising and Arranging services. Mr Sebastian Graewert has been appointed as
Super-apps offer a single location from which a consumer can engage in diverse commercial transactions, from calling a cab to paying an electricity bill Wide-ranging study by Economist Impact, the research and analysis arm of The Economist Group, commissioned by Mastercard Middle East and Africa reveals that super-apps have emerged as a business model with
