Steward Bank has launched a suite of innovative Diaspora Banking products targeted at Zimbabweans living, working or studying abroad. The Diaspora Banking products allow Zimbabweans outside the country to carry out day-to-day banking transactions with their Steward Bank account from where they live, work, or play across the world. Presently, customers in the diaspora will
Nigeria’s e-commerce sector is still in its infancy compared to those of developed countries in spite of the success of the likes of Konga and Jumia, according to Oluseye Faleye, founder of TopDownDeals. Faleye believes TopDownDeals.com.ng filling a vacuum by providing a platform for gamers in the country to purchase offerings from international providers at affordable prices.
Nedbank’s sustainable turnaround of its retail business has received international recognition from both The Asian Banker and African Banker magazine. Last month Nedbank was named Best Improved Retail Bank (Middle East and Africa region) by The Asian Banker and also received awards for Best Customer Relationship Management and Best Brand Building Initiative in Africa for
The Central Bank of Nigeria (CBN) has partnered with NigComSat to fast-track the bank’s cashless policy through effective and efficient internet services, with the latter to provide Wi-Fi hotspots to local government bodies. Aaron Yaduma, head of CBN’s Shared Services, announced a memorandum of understanding (MoU) had been drafted while speaking at a cashless policy
Equity Bank has doubled their over the counter withdrawal fees recently in a bid to encourage the use of alternative banking channels such as agency outlets and mobile banking. Equity hopes that this will decrease congestion in bank branches and reduce their teller to customer ratio. The cash withdrawal charges have gone up from Sh50
Sami Lahoud, Vice President – Communications, Middle East and Africa for MasterCard shares his insights into financial inclusion at the World Economic Forum on Africa: This week, MasterCard joins more than 1,000 business leaders, heads of state and government, as well as representatives from academia, development organizations, non-profits and media in Abuja, Nigeria for the 24th
Africa has emerged as the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT’s) fastest growing region, with a 17 per cent increase in total transaction volumes over the SWIFT network in the year ending March 2014. Globally, the company said within the same period traffic volumes rose by 9.7 per cent. In Africa, Nigeria recorded the
Following today’s launch of the 2014 Africa Progress Panel report, Dr Ismail Ahmed, CEO of WorldRemit and former adviser to the United Nations, called for regulators around the world to take action against the anti-competitive business and lobbying practices of Western Union and MoneyGram. Dr Ahmed, an African himself, is a leading expert on remittances.
SWIFT has announced that Banco Nacional de Angola is implementing SWIFT’s Sanctions Screening service to help the country meet its financial crime compliance obligations. SWIFT Sanctions Screening is a cloud-based subscription service that filters messages in real time and checks against customers’ selected sanctions lists. Once active, the Sanctions Screening service automatically routes messages in
Location based services (LBS) has allowed FNB to offer Banking App users the ability to locate ATMs and branches and make GeoPayments, cashless, person-to-person payments, with just 3 taps and a pin. This service, launched by FNB on the Banking App in May 2012, was the first ever near-field, person to person payment technology in
