Direct Transact, the largest independent provider of transaction processing solutions for banks and businesses in SA, is appointing three financial industry heavy-hitters to expand the local industry’s open finance capabilities in the global market. The company, which handles more than R30-billion in financial industry transaction flows per month – the flows of nearly 70% of
The Banking Association South Africa (BASA) Transformation in Banking Report 2020 reflects the progress made by banks in transforming the industry and increasing economic inclusiveness and empowerment, despite constrained economic conditions. Significant progress was made on key metrics that track the transformation of the industry and its support for Broad-based Black Economic Empowerment in 2019.
Absa Group Limited has appointed Deon Raju as Chief Risk Officer, with effect from 1 June 2021. Deon is currently Absa Group Treasurer, primarily responsible for the liquidity risk, funding, capital, and non-traded market risks of the Group. He has been with Absa for more than 20 years, having held roles in Enterprise Risk, Finance,
Leading South African digital-first fintech enabler, Ukheshe Technologies, has announced the appointment of Anton Coertzen as President of Strategic Partnerships. Coertzen will be responsible for growing the business through key partnerships which complement the company’s business development and product innovation strategy. The appointment comes as Ukheshe continues to entrench its position as a formidable payment
Temenos SaaS provides launch-pad for Barko Financial Services to challenge incumbents with new retail banking services that are fast, efficient, and competitive With Temenos technology Barko Financial Services is helping 1.5 million South Africans access finance fast, in less than 4½ minutes, without visiting a branch; Using Temenos Infinity, BFS was able to reimagine the
South Africa’s m-commerce up 35%, Nigeria is Africa’s biggest e-commerce market, and Kenya primed for massive growth Multiple factors have combined to bring African countries to an e-commerce adoption tipping point, creating more opportunities than ever for online and omnichannel merchants. This is particularly true for merchants in fashion, beauty, education, and digital goods. This
Nedbank, in collaboration with Mastercard and Ukheshe, has launched Money Message, a new payment platform that lets small and microbusinesses conveniently receive secure in-chat payments from their customers via WhatsApp. A first in South Africa, the solution will enable merchants to send an invoice requesting a payment from any customer seamlessly through WhatsApp. Their customers in
The South African Reserve Bank, as part of the modernisation of the national payment system (NPS), embarked on the Authenticated Collections (AC)/DebiCheck project. This project is a first of its kind that seeks to address the increasing levels of abuse in the debit order payment system, known commercially as the early debit order (EDO) payment
The Bank helps make updating and protecting data easy for customers & SMEs As data privacy and protection continues to gain prominence globally, FNB has set a new norm in the South African banking industry through the launch of innovative tools enabling individual and business customers to manage and update their information and ensure compliance
The Absa Group Board and the Group Chief Executive, Daniel Mminele have come to an agreement pursuant to which he has stepped down as a director and Group Chief Executive and will be leaving the group with effect from 30 April 2021. The parties have not managed to achieve alignment in relation to the group’s
