In the era of information, the bank with the most actionable insights is the winner. The age of “Big Data” has begun to slowly filter through into the banking environment, with banks being able to design customer-centric solutions using statistical models and information gathering techniques. So, just, what is Big Data? The term refers to
Capitec Bank, powered by Qmatic Customer Experience Management (CEM) solutions, has been voted South Africa’s favourite financial institution in terms of customer service. Capitec Bank took first place for financial services and third place overall across 32 major industries in the Ask Afrika Orange Index Award, the largest and most widely-referenced service excellence benchmark in
M-Pesa, Vodacom Tanzania’s flagship has launched an online payment service through the web-based platform of Vinjari which will allow local traders registered under Vinjari.co.tz to accept online payment for the purchase of services. The service allows travellers to book and pay for hotels, tour package and flights. Vinjari.co.tz platform has over 300 hotels and partners
Nigeria’s apex bank the Central Bank of Nigeria (CBN) has announced mobile financial transactions in Nigeria had exceeded US$2 billion. This was announced by the bank’s Head of Payment System Policy and Oversight Division of Banking and Payments Department, Musa Itopa-Jimoh. He said a total of 15 million transactions have been made since the inception
Telecoms company MTN launched mobile money cross-border remittance service between Ivory Coast and Benin. It said the service will further enable cheaper and easy movement of money in the West Africa region. “The launch of this new corridor is an important part of our mobile financial services strategy. The new service will take advantage of
Vodacom’s mobile money transaction service M-Pawa, launched in May 2014, in partnership with Commercial Bank of Africa (CBA), has reached one million customers, the telecom firm announced in Dar es Salaam. M-Pawa enables customers to open a bank account on his or her mobile phone and has helped Vodacom subscribers save and borrow money. The
Guaranty Trust Bank plc wins “Best Bank in Nigeria for 2014” by The Banker Magazine (a publication of The Financial Times) for promoting industry-wide excellence in Global Banking Ethics and adherence to the highest corporate governance standards. The prestigious award ceremony which held on Thursday November 27th, 2014 at Intercontinental Hotel, Park Lane, London had
Tanzania’s network of Automatic Teller Machines (ATMs) and Mobile Banking, the ‘Umoja Switch,’ has just gone regional; spreading its digital transactions’ tentacles into three neighbouring countries of Kenya, Rwanda and Uganda. With more than eight years of operation in the country ‘Umoja Switch,’ according to its Executive, Mr Danford Mbilinyi, is also rapidly expanding and
Tigo announced the first of its regular quarterly payments worth 3bn/- (US $ 1.8 million) to Tigo Pesa users. This payment comes three months after the company paid a staggering profit of TZS 14.25 billion (US $ 8.64 million) accumulated in the Tigo Pesa Trust Account to become the first mobile money service in the
The United Bank for Africa Plc (UBA) has announced the introduction of Forex transfer capability on its online banking platform, U-Direct. The new service allows the bank’s customers to transfer funds from their Domiciliary Account to any account in the world within 24 hours. The commencement of this service is well timed, considering the anticipated
