The bank reportedly plans to cut 1 200 jobs and shut down 91 branches, ramping up plans to adopt more digital channels.
Transactions on the First National Bank app grew by 52% over the past year, overtaking transaction volumes on online banking.
MTN develops its own instant messaging platform, which will be integrated with Mobile Money to form what it hopes will become the 'African WeChat'.
The big four bank witnesses massive gains in its digital platforms, with customers moving away from traditional channels.
NSFAS fintech partners to challenge contract cancellations
In this week's tech news roundup, Fintech partners contracted to disburse monthly allowances to NSFAS-funded tertiary students have challenged the allegations levelled against them, saying they are considering legal action. eZaga and Tenet Technology have denied the allegations made against them and claim to not have received the full report in which these were made Stay informed and engaged with our comprehensive coverage of these stories and more on our website, www.itweb.co.za and social media platforms. Discover the latest advancements shaping the future of technology by ITWeb. #newsvideo #sita #nsfas https://www.itweb.co.za/content/DZQ58MV8yPAvzXy2 https://www.itweb.co.za/content/rxP3jqBEax8MA2ye https://www.itweb.co.za/content/xnklOvz1dnYq4Ymz https://www.itweb.co.za/content/dgp45vaBPVJ7X9l8 https://www.itweb.co.za/content/P3gQ2qGAPrg7nRD1
The collaborative effort aims to introduce a digital banking offering to serve SA's unbanked population.
Making fintech work for the informal sector is not about the most advanced technology, it's about people, says Standard Bank's Naomi Snyman.
The bank adds the Samsung payment service to its digital payment options.
Huawei Cloud drives African FinTech innovation
Mark Wang, Solution Architect at Huawei Cloud Southern Africa, spoke to ITWeb about Huawei being a strategic partner in the banking sector. He also addressed challenges for banks in SA and potential growth in the payment ecosystem for customers. #huaweicloud #fintech #digitalbanking
The company's SIM Swap Detection service can help banks and businesses identify suspicious SIM swaps and prevent fraud.
Robotic process automation speaks directly to people's fear of change, says WesBank's head of business enablement.
The crypto-currency platform with strong South African roots expands to the Italian market.
VALR.com, a new crypto-currency trading platform based in SA, kicks off by allowing trading in crypto free of charge this month.
An Entersekt survey finds two-thirds of consumers favour a single mobile app for banking and payments over cash and physical cards.