As part of Standard Bank’s Business Banking offering they offer access to an overdraft facility up to an agreed limit. Under the new Basel rules, banks are required to raise the quality and quantity of the regulatory capital base. In their statement Standard bank said: “As a bank, we are obliged to hold capital against
South African IT education firm Tremendis Learning will launch the first Bitcoin ATM in Africa in Johannesburg by the beginning of next month, hoping to educate and boost support for the cryptocurrency. The initiative is led by director at Tremendis Learning Monre Botes and business partner Rolf Deppe. Speaking of local support for the currency,
The World Economic Forum (WEF) has named Capitec Bank as one of Africa’s 16 most dynamic Global Growth Companies (GGCs). Capitec Bank, South Africa’s leading retail bank for individuals, was the only bank in South Africa to make the list, which includes just 6 South African companies from various sectors. Commenting on the World Economic
Standard Bank Group is seeing a continuation of demand for its services from international commodity traders and rapidly expanding regional and local businesses in Africa. This follows the withdrawal of several global lenders from the continent in the wake of the global financial crisis. The pull-back forced on global banks by the global economic slowdown,
ATM Solutions Zambia, a subsidiary of Paycorp, has installed its 20 ATM for Zambia’s Cavmont Bank. The installations to date have been located at Cavmont Bank branches across Zambia, with the latest being in the northern province of Mpulungu. ATM Solutions is largely driven by providing financial inclusion to people who otherwise have limited or
Standard Bank has announced the launch of their mobile payment app, SnapScan. This is the bank’s first mobile payment offering that allows merchants to receive payments from their customers through a combination of a QR code and a secure PIN number. According to Standard Bank’s Head of Innovation and Channel Design, Vuyo Mpako, “We are
Nedbank was recently awarded first prize in the Banking category at the annual South African Service Awards held at Melrose Arch, Johannesburg. The awards recognise leaders in customer-centred service across five industries: banking, short‑term insurance, telecommunications, security and travel. This marks the second consecutive year that Nedbank has won the coveted Financial Services: Banking award
Latest statistics released by the Spark Cash Index (SCI), which measures the average value of cash withdrawals across more than 2 300 Spark Automated Teller Machines (ATMs) throughout South Africa, showed a marginal increase in ATM withdrawal levels for March. The SCI revealed a month on-month increase of 0.29% in average cash withdrawal figures for
After more than a year spent building anticipation, Nettcash has officially launched its mobile money service. As most people had noticed for more than a year now, Nettcash has established an online presence with a website that gave an outline of their products (albeit with a coming soon tag) as well as a subtle offline
A number of key dynamics and developments are likely to substantially alter the global operating landscape for retail banks by 2020, according to a PwC report titled ‘Retail Banking 2020: Evolution or revolution’. Just over half of global bank executives (55%) surveyed believe that non-traditional players pose a threat to the traditional retail banking industry.
