Ithmaar Bank, a Bahrain-based Islamic retail bank announced that it is fully compliant to meet the Kingdom’s open banking standards. To achieve participation of all stakeholders in this path breaking initiative, it is important for the businesses to participate with banks. With the need to on-board the businesses and provide opportunities and possible collaboration, Ithmaar
Expanded chargeback capabilities will deliver greater transparency and insight to help buyers and sellers resolve disputes quickly Visa has announced it has signed a definitive agreement to acquire Verifi, a leader in technology solutions that reduce chargebacks. The combination of Verifi’s best-in-class dispute resolution tools with Visa’s suite of risk and fraud management solutions will
Tanzania has tightened its currency controls with new regulations on foreign exchange bureaus, in what authorities say is an ongoing fight against money laundering and currency speculation. The new rules, published Monday by the central bank, come months after the government revoked the licences of around 100 bureaus and temporarily shut a newspaper for using
The High Court in Johannesburg has ruled in favour of the National Credit Regulator (NCR) against Standard Bank that the common law set-off does not apply to credit agreements subject to the National Credit Act (NCA). This follows an application for a declaratory order brought by the NCR against Standard Bank seeking legal clarity on
Diebold Nixdorf, a global leader in driving connected commerce for the banking and retail industries, has unveiled the DN Series, a family of self-service solutions designed to anticipate the needs of a progressively transforming industry. Leading banking brands, including Fifth Third Bank and BNL Gruppo BNP Paribas, are among the 18 financial institutions in 13
Nigeria’s premier bank and leading financial services provider, First Bank of Nigeria Limited has announced that it now has over 27,000 Agents on its Firstmonie Agent Network. This feat reinforces the Bank’s steering role at promoting financial inclusion in the country. The over 27,000 Firstmonie Agents are present in almost all Local Government Areas across
Botswana Telecommunications Corporation Limited (BTC), Botswana’s fastest and widely available mobile network, has revamped and introduced SMEGA, its mobile money service. SMEGA now works on Comviva’s mobiquity® Money platform, one of the world’s largest white-labeled mobile money platform. SMEGA offers consumers a quick, convenient and secure way to perform financial transactions from the comfort of
In Payments: looking to the future SWIFT challenges the community to revolutionise services and collaborate to bring this future closer. On the last day of the African Regional Conference (ARC) taking place in Accra, Ghana, SWIFT has released a landmark paper, “Payments: looking to the future”, in which the global co-operative articulates the future of
After careful consideration and consultation with key stakeholders, PASA will be reducing the maximum value for writing a cheque from the current value of R500 000 to R50 000, effective 01 May 2020. Walter Volker, Chief Executive Officer of PASA believes that this limit reduction stems from the need for better risk management and the
Video banking technology provides banks with the ability to extend their services to more customers at a lower cost than full-service branches. Another banking touchpoint According to RBR’s Teller Automation and Branch Transformation 2019 report, which covers 23 key global markets, a number of financial institutions are turning to video banking technology to extend their
