Cash, PoS, digital collections should be complementary
Norway, Sweden and Denmark are examples of countries moving towards becoming true cashless societies, in which retailers or petrol stations won't be obliged to accept cash payments. Yet cash still accounts for about 85% of global consumer transactions and in Africa,...
IoT could drive new insurance models
For insurers, the Internet of Things(IOT) can provide value in the form of new insurance models and products based on deeper insight into the customer's needs, writes William Mzimba, chief executive South and sub-Saharan Africa at Accenture. The rapid increase in...
FirstBank increases mobile app security
FirstBank has launched its updated iOS mobile banking application with fingerprint biometrics capability and authentication from Entersekt. FirstBank is Colorado's second largest bank and the third largest privately held bank in the nation. FirstBank has integrated...
Compuscan partners with Coremetrix on personality-based assessment
Compuscan, one of the largest independent credit bureaus in Africa, has established a strategic partnership with Coremetrix, a UK-based company powered by Creditinfo, the world's leading creator of psychometric data for consumer risk assessment. The new initiative...
Find the highest interest rates for your money
More than 16-million South Africans have cash in savings accounts, but according to the latest SA Reserve Bank statistics about 42% of this sits in low interest accounts that offer interest rates as low as 1% at Postbank and as high as 10% on a five year fixed deposit...
Mastercard enables Microsoft Wallet, Android Pay, Samsung Pay
Mastercard has announced agreements with Microsoft, Google and Samsung to bring online payments capabilities to US-based users of their digital wallets. Starting early next year, Mastercard cardholders that use Microsoft Wallet, Android Pay or Samsung Pay will be able...
Why are banks struggling with big data?
Financial institutions are ideally positioned to reap a host of benefits from big data, given their access to multiple streams of information, writes Gary Allemann, MD of Master Data Management. However, most banks are still standing at the edge of the big data wave,...
Financial sphere spices it up with gamified learning
From blockchains to mobile wallets and robo advisers, the financial realm is a veritable hotbed of technology innovation and development. Unlike many other large and established sectors (legal, medical, insurance), the financial sphere has proved to be willing to...
Connect with millennials through mobile banking
The future of mobile banking looks bright as far as consumers are concerned, writes Marwan Elnakat, e-banking and e-commerce security solutions director at Gemalto. Millennials are increasingly opting for online and mobile banking options over visiting local branches,...
FNB’s KYC Doc Uploader simplifies FICA
To encourage more businesses to comply with the Financial Intelligence Agency Act (FICA), FNB has launched KYC Doc Uploader, that allows non-compliant business owners to conveniently upload outstanding FICA documents online. Business owners that are not yet compliant...
SA payments startup expands into Africa
Peach Payments, a fintech startup that makes customer payments to online merchants seamless and secure, is now processing more than R1-billion in transactions per year and expanding into Kenya and Nigeria with plans for other African countries. The business started...
Absa to offer walletdoc for bill payment
Absa has partnered with walletdoc, a South African fintech startup, offering users a smart, secure and convenient way to pay their bills such as monthly subscriptions and utilities - without the tedious filing and administration normally associated with payments. The...