One risk with the system is that legitimate clients could be rejected due to the degradation of fingerprints, says Absa.
FNB's e-commerce platform is now open for withdrawals by holders of any South African bank account.
The Boom service allows members to use their mobiles to make money transfers ranging from $5 to $1 000.
The bank's discounted device offer elicits an unprecedented response, but FNB says measures are in place to deal with the demand.
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 permission comes at a time when mobile banking transactions are growing at a slow pace in India.
Connet Systems' Connet2U platform allows the processing of debit card payments from any mobile phone, safely and securely.
The adoption of contactless cards for retail payments and transportation opens the gateway to the rollout of NFC technology in SA.
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
Criminals are employing hybrid attacks, using data sourced from malware to validate fraudulent calls, warns Trusteer.
An online biometric system has already uncovered seven fraudulent attempts to open bank accounts at Absa.
The bank beefs up its payment offering and predicts mainstream use of smartphones to make payments in the future.
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 National Bank of Kenya selects Misys' BankFusion Universal Banking solution to improve efficiencies and reduce its cost/income ratio.
The new app lets users search for a branch or ATM, contact customer support and services, using iPads.
Using Trustlink Paylink, organisations need a single password and account to handle transactions across various banks.