The cyber-threats and security risks that threaten the banking industry have the potential to cause significant damage, as has been evident in past incidents that have led to monumental losses of both funds and financial data. It’s important for banks to define, understand and mitigate the cybersecurity risks. We caught up with Itumeleng Makgati, Group …
The global pandemic has created an unprecedented digital banking pivot point. Customers are now more demanding than ever before. Business as usual is simply not enough. Banks and financial institutions are facing real challenges in moving away from product centricity and legacy technologies to customer centricity and personalised seamless solutions. Most financial institutions entered a …
BACKGROUND Standard Bank Group is the largest African banking group by assets; US$170bn, and an employee headcount of 55,000. Founded over 150 years ago, the business is a client-centered, digitally enabled financial organization. It has a presence in 20 countries on the African continent — building its first franchise in the sub-Saharan region 30 years ago …
The Covid-19 Pandemic has exposed the Achille’s heel, as well as a ripe opportunity, in sub- Saharan Africa’s trade and payments landscape. Chipo Mushwana, Executive of Emerging Payments at Nedbank explores the challenges and solutions to support the continent’s consumer and business population in economic recovery. Various studies place the rate of financial inclusion in …
In a new episode of Connecting Africa, CNN International’s Eleni Giokos hears the latest technology updates from some of the biggest banks on the continent as they continue to digitise. africa.com According to McKinsey, cash is still used in more than 90% of all transactions in Africa. One of the key reasons for this is …
According to a press release, Temenos announced that Cooperative Bank of Oromia (Coopbank), one of the largest banks in Ethiopia, has launched CoopApp and CoopApp Alhuda on Temenos Digital (Infinity), delivering a modern digital experience for conventional and Islamic banking with greater personalization for more than 12 million customers. Ethiopia has one of the lowest …
According to Financial Times, TymeBank has become the continent’s first digital lender to break even after entering South Africa’s banking scene four years ago. With a valuation of $965 million, TymeBank ranks 21st in Africa’s Fastest Growing Companies by FT-Statista and aims to be among the top three fastest-growing banks in South Africa. Backed by …
According to The EastAfrican, Access Bank Plc has completed the acquisition of the African Banking Corporation Tanzania (BancABCT) as it seeks to deepen its foothold in East Africa’s banking market. The lender, which is listed on the Nigerian Stock Exchange (NSE), disclosed that it had completed the acquisition of a majority equity stake in BancABCT, …
The banking sector across Africa is undergoing a significant digital revolution, driven by a growing population, expected to reach 2.49 billion by 2050, and an increase in the use of smartphones and tablets, which now account for 75% of web traffic on the continent. This digital shift promises numerous benefits such as speed, convenience, and …
According to The Fintech Times, the third iteration of the report, titled African Blockchain Report, reveals that despite global economic pressures, African blockchain funding is expanding in large parts due to regulatory advancements. It also found blockchain is having an impact on transparency, sustainability, data accountability, new service and creator economies, and financial inclusion across …
