Emirates NBD, a leading banking group in the region, today announced that it has created E20., the UAE’s first digital business bank for entrepreneurs and SME businesses. E20. will enable start-ups, sole proprietors, freelancers, gig economy workers, fintechs and insurtechs and small-to-medium sized companies to open a bank account and carry out their day-to-day banking
Yet, as digital payments continue to grow, banks can tap into US$500 billion opportunity in new payments revenue if they adopt innovative business models As much as 15% of banks’ global payments revenue, or US$280 billion, is likely be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible
Nets Fraud Ensemble uses machine learning to reduce fraudulent transactions by up to 40% Nets, a leader in the European payments industry, has collaborated with multinational professional services provider, KPMG, to develop Nets Fraud Ensemble, a next-generation fraud monitoring and prevention solution. As the total annual value of fraudulent transactions across Europe hits €1.8 billion,
FSS, one of India’s largest payments processor and a leading global provider of integrated payment products, and US-based Oracle Financial Services, will collaborate to enhance digital payments for banks. As part of this strategic relationship, FSS will provide specialized integration and hosting services for Oracle’s cutting-edge Oracle Banking and Payments solutions. FSS will also extend
The financial services sector in South Africa is undergoing an unprecedented transformation. Rapid developments in digital technologies are both disrupting and enabling change in previously disconnected sectors, such as banking, telecommunications and retail. These advancements make digital payments and services more readily accessible and affordable to consumers and small businesses, but the usage of such
Standard Bank has retained its position as South Africa’s most valuable brand, according to the second edition of the BrandZ Top 30 Most Valuable South African Brands report. The annual study and evaluation of brands is conducted by global market research and insights firm Kantar, and communication and branding giant WPP. It values the Standard
As in many developing countries, cash has been the most prevalent mode of payment in Nigeria until 2012 when the Central Bank of Nigeria (CBN) introduced the cashless policy with the aim of promoting the use of electronic payment channels instead of cash. Since then, banking services in Nigeria have shifted from physical and tangible
Industry co-operative publishes new API standard for Pre-authorisation of funds SWIFT today publishes a new API standard for the Pre-authorisation of funds, paving the way for further innovation in financial services enabled by open banking. The new standard allows a payer’s bank to earmark funds for a purchase in advance, guaranteeing that the future payment
GCB Bank Limited, after being voted the Best Bank in Ghana in Anti-Money Laundering (AML) Compliance, has now emerged as Africa’s Best Bank in Compliance. GCB was rated the best among five banks across the African continent namely FNB (South Africa), Standard Chartered Bank (Kenya), BANGE (Equatorial Guinea) and BAI (Angola). This recognition was announced
The SWIFT global payments innovation (gpi) service is the largest change in cross-border payments over the last 30 years and is the new standard. SWIFT gpi dramatically improves the customer experience in cross-border payments by increasing their speed, transparency and end-to-end tracking. Hundreds of thousands of cross-border payments are being sent every day using the
