It is speculated that traditional banks will fall even further behind in market share and customer experience due to the global coronavirus pandemic, warns Nigel Green, founder and CEO of deVere Group- one of the world’s largest independent financial advisory organizations.
The comments from Green follow research that the use of...
Hootsuite's 2019 Global Digital Report ranked South Africa as the world's top nation for crypto ownership, with 10.7% of internet users in the country holding a financial interest in cryptocurrency. The global average was only 5.5%.
"This is the second indicator in the past few weeks which shows that Africa,...
Paga, the African payment company and a market leader in its founding country of Nigeria, is announcing today that it has been added as a payment provider by US social media powerhouse Twitter for its Tips feature in the West African country.
According to Paga, the new feature "increases economic...
Mastercard, in support of Ghana’s Vision 2020 goals, has committed its support to helping the country to develop a cashless economy, in furtherance of its push to be an economic powerhouse in Africa.
This was highlighted during a recent discussion between Mastercard and Ghana’s new Vice President, Alhaji Dr Mahamudu...
First National Bank has taken over the title as Africa’s most valuable banking brand for the second year in a row, according to the latest Brand Finance Africa Annual Survey.
The report notes that FNB, at US$1.7 billion, is the most valuable banking brand from Africa, growing 20% from 2018 on...
In an increasingly digital world, it is somewhat ironic that “the best defense against change of banking detail scams is hardly digital, or very sophisticated, at all,” says Bilal Kajee, Head of Risk Management, Business and Commercial Banking at Standard Bank Group. “A simple, old fashioned phone call to...
MasterCard has unveiled the launch of MasterCard Labs for Financial Inclusion, a new initiative seeking to impact more than 100 million people globally by developing practical and cost-effective financial tools that expand access and help build stable futures over the long term.
Through an $11 million grant over three years...
Financial technology (FinTech) is a growing market worldwide. However, the emergence and development of the FinTech industry in Africa is proving incredibly valuable. In October of last year, the first African Fintech Awards took place in Johannesburg - highlighting the sense of respect and need for the industry in...
The prices of Bitcoin and other cryptocurrencies saw remarkable surges over the weekend driving the entire crypto market to its all-time high of around $2.5-trillion.
Bitcoin itself is seeing a nearly record breaking surge, climbing to over $60,000 per coin for the first time since May. The all-time record price...
Paylater, the Nigerian fintech company specializing in consumer lending, has confirmed its name change in light of its growing banking services.
The company is re-launching as "Carbon", the rebrand reflects the company's deliberate transition to a fully-fledged digital financial services platform that now offers bill payments, fund transfers and savings...
Kaspersky Lab’s Anti-Malware Research team has discovered Asacub – a new malware that targets Android users for financial gain. When first identified, Asacub displayed all the signs of an information stealing malware; however some versions of the Trojan are targeting users of online banking in Russia, Ukraine and the...
Last week we covered the Nedbank client data hack in which 1.7 million Nedbank clients may have had their personal and private data leaked to the public. The leak emanated from a security breach at Computer Services, a third-party service provider that issues SMS and email marketing on behalf...
The greatest challenge that the accounting and auditing profession faces today is investing in the education and training that is needed to keep up with the change of pace in the environment. Advances in technology and digitization has led to the industry requiring a different set of skills than...
The African continent is an exciting market where financial technology gets implemented every day. The impact these financial technology solutions are having on the financial sector in Africa is tremendous. Financial technology, or FinTech, has proved to be a good and more effective alternative to traditional banking systems in...
Hellopay and Mastercard have partnered to roll out SoftPOS – a contactless acceptance solution that turns any NFC-enabled Android device into a physical point of sale.
This move is expected to boost digital payment acceptance at small informal enterprises in South Africa, while supporting consumers’ preference for touch-free payments amidst social...
Rwandan President Paul Kagame and Alibaba Group Executive Chairman Jack Ma witnessed the signing of three Memoranda of Understanding (MoU) between the Rwandan Government and Alibaba establishing an eWTP (electronic world trade platform) hub in Rwanda.
The agreements are intended to strengthen cooperation in support of Rwanda's economic development by promoting policy innovation, enabling cross-border trade of...
