The tech enables users to unlock their phones and call up a mobile wallet app with a swipe of a fingertip.
With these machines, customers will be relieved of waiting in queues for their turn to be served for routine transactions.
The US Federal Reserve has ordered The Royal Bank of Scotland to improve its anti-money laundering efforts.
As long as data exists in digital format and is stored somewhere on a server, it is available to anyone, says ConVista Consulting.
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 financial services sector is adapting to the changing nature customers, a study discovers.
Standard Bank Internet banking accountholders will be able to buy Ukash vouchers directly from their accounts.
The app is designed to be more 'engaging and dynamic' and goes beyond the static tables seen in other apps, the bank claims.
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
MTN and Standard Bank have unveiled an e-commerce payment system that is open to debit card holders.
Straight-through processing provides automated, end-to-end processing of transactions, says Steve Webster, acting CEO of The Webcom Group.
The Old Mutual Group in South Africa has concluded a five-year IT outsourcing contract with Dimension Data.
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
Rapid advances in technology are creating major opportunities for banks to build better relationships with their customers, says a strategist.
Despite high cellphone usage and low banking penetration in Africa, the mobile payments market grows slower than expected.
The primary reason for the stagnation is consumers don't feel mobile banking is secure, according to a study.