The local migration towards EMV standards is taking place rapidly and an SA company has become the first to achieve EMV Level Two certification with a locally developed payment application.
The Basel II Accord offers banks an opportunity to increase their profits, says Kerry Evans, sales manager, financial services at SAS Institute.
Standard Bank has launched two additional services on its Cellphone Banking platform.
With the development of common specifications and infrastructure for smart cards, there now exists an opportunity to run multiple applications - everything from financial applications to corporate security authentication - on a single card.
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
Standard Bank says it has turned cellphones into "palm-top cashless ATMs" with the launch of two cellphone banking services - one of which allows for person-to-person payment using a cellphone.
PIC Solutions will provide the Saudi Arabian-based National Commercial Bank with a credit and risk training programme for its personnel.
CS Holdings (CSH) is to install an e-learning solution at Absa that will form part of the bank`s blended learning and development strategy.
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
A Durban court case focusing on an alleged "phantom ATM" withdrawal has highlighted potential security problems in the ATM network, but a First National Bank spokesman says local PINs are still secure.
eBucks.com, the FirstRand Group`s e-commerce venture, is now profitable on a month-to-month basis.
The Burgan Bank will use the 3Com expandable resilient networking technology to build its core networks.
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
Armies of clever geeks are cracking security on financial products at an alarming rate. The more sophisticated financial services get, the more it seems to make sense to keep the money under the mattress.
Prism Holdings has implemented Thales e-security EMV host security modules and smart card personalisation software valued at over R4.5 million at local banks during the past six months.
Last week`s "hack attack" in the US, which compromised millions of Visa and MasterCard accounts, barely affected South African account-holders, say local banks.