Absa is forecasting its annual online transactions will amount to R1 trillion five years from now, based on current growth rates.
The share of South African women that bank online increased from just around 19% to over 43% over the last five years.
PIC Solutions has expanded its relationship with Fair Isaac to offer TRIAD Transaction Scores to clients in the Middle East and Africa (MEA) region.
Prism and Shoprite have pioneered an EMV technology solution that processes an integrated electronic funds transfer environment for large retailers.
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
Absa and Standard Bank will form part of a global banking network established by SAP AG to help the banking sector adopt service-oriented architecture.
Absa is expanding its ADSL range to include 1GB and 6GB packages, and is also offering an online self-service function.
Hitting the headlines this week was an Internet banking scam, and the cellular operators losing their RICA fight in Parliament.
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
Absa`s cellphone banking customer base has grown 140% to 180 000 people since the bank launched free cellphone banking in October.
PIC Solutions Credit Academy has been selected by Standard Bank to deliver credit risk training to its collections management.
A member of an international crime syndicate has been arrested in connection with the Internet banking scam affecting about 50 customers of two of SA`s major banks.
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
Local authorities are investigating an international syndicate suspected of targeting online clients of two of SA's major banks.
Standard Bank has urged customers to avoid public PCs for Internet banking, due to recent cases of identity theft.
Technology will have an important role in improving Africa`s banking sector, according to speakers at last week`s African Banking Congress.