Customers are left stranded in shops, with no means of making payments for almost an hour, after FNB's electronic systems crashed.
The entities offer customers the option of purchasing SMS and data bundles via FNB's USSD cellphone banking service.
Each of the big four banks lose between R500 million and R800 million per year to fraud, says Gijima.
The operator focuses on financial services, particularly for the unbanked in SA.
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 virus, Gauss, has infected more that 2 500 computers, mainly in Lebanon, according to Kaspersky Lab.
Some 80% of smartphone users have not embraced mobile banking, according to a survey.
The bank uses Customer Flow Management with Orchestra from Qmatic, implemented by Emerge Queue.
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
Customers will have the ability to completely manage their finances through their mobile device, the bank says.
More news is imminent at its 1 August results, says Entersekt, which developed the systems for Nedbank.
As Nedbank prepares to take its new personal financial management service public, FNB says its own offering is also on the horizon.
The future of banking in Africa
MTN and Huawei, in partnership with Brainstorm magazine, held an executive roundtable on 11 May for industry insiders from the financial sector to discuss emerging technologies and digitisation in the banking space. #mtn #huawei #fintech
The bank's mobile banking application has been around for a year now and has experienced growth the bank did not expect.
Upping the stakes in the innovation wars, Nedbank introduces a personal financial management service that will be open to anyone.
Financial institutions, businesses and retailers need to prepare for a payment revolution that could see bank cards being done away with, warns Deloitte.