FNB Life has seen a significant increase in the number of millennials between the ages of 31 and 33 exclusively taking out life policies on digital channels.
Lee Bromfield, CEO of FNB Life, says “Our omni-channel strategy which enables us to service customers through various channels of their choice, including...
Want to send, or request, money? Add a recipient. Enter an amount. Press send. Boom. It couldn't be easier.
Virgin Money has launched a peer-to-peer payment app called Spot. The app lets you transfer funds from your linked bank account to a friend’s linked bank account, but without the fuss...
Mukuru has partnered with EcoCash, a Zimbabwean mobile money provider, to offer a quick and easy way of sending money to Zimbabwe. The partnership was facilitated and structured by Cassava, a wholly-owned financial technology (FinTech) subsidiary of the Econet Group.
Mukuru customers in South Africa can now send money instantly...
South African bank, First National Bank (FNB), announced on Tuesday 10 October 2017 that the company's "Bank Your Change" feature has allowed FNB customers to save over R1 billion in the past 14 months from small change when shopping.
‘Bank Your Change’, a free feature which can be activated by...
AirtelTigo has commended the Bank of Ghana, the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) and all stakeholders on the implementation of Mobile Money Interoperability.
“We welcome this giant step which will help our customers and all Ghanaians to enjoy increased convenience to send and receive money from one...
Crypto currencies are disrupting the financial services sector but can also present opportunities for financial inclusion and economic stimulus for the poorest.
According to research by the world bank, as many as 66% of sub-Saharan Africans are listed as "unbanked". But new money technologies such as M-Pesa and other blockchain...
Greenland Fedha Limited (GFL), a microfinance institution for small-scale tea farmers in Kenya, has implemented a new software solution to improve its efficiency and remain competitive in the market. According to the institution, it had chosen the Microsoft Dynamics NAV platform.
With the system in place, GFL revealed that the...
“It used to be quite simple. Customers arrived at banks through the revolving doors and opened accounts or applied for lending in-store. Banks owned the customer relationship by default and ‘see my bank manager’ was a common term,” says Mark Fitzgerald, Director - Government and Enterprise at FaceMe
Fast forward,...
Africa has long been considered a global leader in fintech innovation and adoption. The continent's low penetration rates for traditional banking services coupled with high penetration of mobile phones makes it a rich breeding ground for fintech innovation, and in many respects the continent has been miles ahead of...
Amendments to Tanzania’s recently passed Finance Bill 2013 has ushered in a 14,5% excise duty on all mobile airtime, mobile services, as well as landline and wireless telecommunication services. According to research Tanzanians will have to fork out more for access to telecommunication services, which, under the Bill, is...
Over the last 15 years, technology has reshaped the face of global retail. With billions of people spending more time online each day, the way we buy things has evolved. Hundreds of billions of dollars of spending have shifted from physical shops to the web and mobile devices.
Africa, like...
Mobile money can serve as a gateway to financial inclusion, it enhances the impact of international remittances on development. Digital platforms enable a significantly lower cost to serve and increased cross-selling of products in emerging markets while smartphone adoption and internet penetration are fuelling the expansion of e-commerce.
According to...
Blockchain is undoubtedly one of the hottest topics in the tech industry.
When people think of Blockchain their initial thought lean towards cryptocurrencies and fintech; it is however far more than just a new payment system. Blockchain can potentially revolutionise how transactions over the Internet take place altogether. Blockchain uses cryptography...
The financial services industry has to consider the adoption of new technology trends such as cloud computing to augment their capabilities and social media to test market appetite for new products and services.
The industry has historically been at the forefront of the usage of technology. This is not surprising...
