Discover Financial Services, a leading U.S. direct bank and credit card issuer, and ZestFinance, a leader in artificial intelligence (AI) software for underwriting, has announced a partnership to create one of the largest AI-based credit scoring solutions in the financial services industry. Discover will be using the Zest Automated Machine Learning (ZAML) platform to improve
Annual conference supported by the Bank of Ghana to gather more than 500 financial services professionals from across Africa. SWIFT will hold the 26th edition of the African Regional Conference (ARC) on 18-20 June 2019 in Accra, Ghana. Supported by the Bank of Ghana, ARC 2019 will bring together more than 500 leading financial services
FSS (Financial Software and Systems), a global PayTech company, has announced a strategic investment in Ecentric Payment Systems, a Standard Bank subsidiary and a leading payment processor in South Africa. FSS has acquired a 46% stake in Ecentric through a combination of primary and secondary investments, with a potential to further its stake holding. FSS,
Vista Bank chooses cloud-native, cloud-agnostic Temenos Infinity and Temenos T24 Transact to provide innovative, customer-centered banking services. Vista Group, a challenger bank building itself into a world class pan-African financial institution specifically designed to meet the needs of retail and commercial customers, has partnered with Temenos, the banking software company, to power its digital transformation
ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, has announced an extension of its long-standing relationship with Capitec Bank, South Africa’s second largest retail bank. Capitec, a long-time ACI customer, now supports card and non-card payments acceptance through the UP Retail Payments solution – an integrated platform for all payment
Statista.com, the global statistical data portal estimates that the number of smartphone users in South Africa will reach 22 million in 2019. This is in line with FNB’s data which indicates an increase in banking via digital channels by young people, especially the Banking App. According to FNB data, customers between the ages of 22-30
Temenos, the banking software company, have announced that Al Rajhi Bank, Saudi Arabia’s second largest bank and the world’s largest Islamic bank with total assets of over $97bn, has chosen Temenos to power its digital transformation journey and enhance its Islamic lending and financing product capabilities. The bank has opted for a complete renovation using
ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, has been awarded ‘Best Use of Emerging or Innovative Technology’ at MEFTECH 2019 in Saudi Arabia. Part of the region’s premier banking and financial technology event, MEFTECH’s Innovation Awards showcase the achievements of organizations that are advancing payments innovation and excellence across
Network International, a leading payment solutions provider in the Middle East and Africa (MEA), aims to boost e-commerce acceptance in the region with the launch of a new, multi-million dollar online payment gateway. The gateway is part of Network International’s N-Genius™ payment platform and has commenced rollout to UAE-based ecommerce merchants from February 2019. Network
The Shoprite cross-border money remittance product reached the R1 billion mark in January, after just three years of it being implemented between SA and Lesotho. The cost of a transfer of R900 is 2%, which is one of the cheapest cross-border products in the world. A remittance is when a person sends money, usually small
