JSE-listed technology investment group, AYO Technology Solutions Limited (AYO), has filed an urgent high court application to interdict First National Bank (FNB) from terminating its transactional banking facilities with effect from 3 May 2021. FNB provided no reasons for its decision to terminate its banking relationship with AYO notwithstanding AYO’s requests for it to do
IFC, a member of the World Bank Group, and Nedbank Limited have partnered to increase financing for renewable energy projects in South Africa, helping the country transition to cleaner forms of power, reduce greenhouse gas emissions, and create jobs in the renewables sector. IFC will provide Nedbank Limited, a wholly owned subsidiary of Nedbank Group,
Standard Bank was recently awarded the Celent’s Model Risk Manager 2021 Award for the KYC on the Go App, which is enabled by the Microsoft Power Apps platform. Celent’s annual Model Risk Manager Awards recognise the best practices of technology usage in different areas critical to success in terms of risk. The submissions are judged
SendSpend poised to become frontrunner in race with payment giants. According to The World Bank’s Global Findex Database, in 2015 there were 350 million unbanked people in Sub Sahara Africa. Global Findex statistics are regarded as the world’s most comprehensive collection of data still cited today, which analyses how adults save, borrow, make payments, and
Huawei Mobile Services has teamed up with Mondia Pay, a digital payments company, to roll out seamless and contactless payments solutions for mobile network operators. Since the commencement of the partnership in September 2020, demand for the implementation of Direct Carrier Billing service (DCB) for seamless, contactless payments for mobile users in the MEA region
As the world struggles through a global pandemic that has, through the manner of its transmission, severely constrained human contact, so new ways have been found to do what we usually do – but without touching strange surfaces any more than we have to. Is it then any wonder, that the use of tap and
Pan-African fintech provides unprecedented reach on the African continent Pan-African fintech leader MFS Africa has announced that it now reaches over 320 million mobile money wallets, enabling a range of banks, telcos, money transfer operators, and other financial institutions interoperability at scale in Africa through a single integration point. Based on the 2021 State of
Practicing healthy money habits and adjusting how you do your everyday banking can go a long way in stretching your money further for your short and long-term goals. Over the years, FNB has been on a journey to help its customers to better manage their money through cost-effective financial solutions, a broad range of safer
Absa Group Ltd., one of Africa’s largest financial services provider, has reported a 51% decline in normalised headline earnings to R8 billion after impairments nearly trebled to R20.6 billion amid the economic downturn that was precipitated by the COVID-19 pandemic. Earnings and returns improved materially in the second half of the year as lockdown restrictions
Masha Maharaj, Head of Custody, Investor Services, at Standard Bank South Africa As retail and institutional investors embrace digital assets, with cryptocurrencies fast becoming a mainstream asset class and blockchain technology gaining adoption across industries, banking groups will increasingly take on the role of custodians and service providers for this growing segment of the market.
