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Top six security and risk management trends according to Gartner

Cyber attacks could result in a $2.1 trillion loss

September 15, 2016 • Finance, Security, Top StoriesComments Off on Cyber attacks could result in a $2.1 trillion loss

According to Gartner businesses could lose close to USD2.1 trillion by 2019 globally as a result of cyber attacks. This is concerning, especially in today’s society where cyber attacks are becoming more sophisticated and occurring more frequently due to the increase in potential attack surfaces. These attack surfaces are in particular attributed to the...

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FNB

South Africa: FNB App making strides among millennials

September 14, 2016 • Finance, Southern Africa, Top StoriesComments Off on South Africa: FNB App making strides among millennials

FNB has revealed that about 60% of their App users are millennials. This tech savvy generation falls under the 16 -36 age brackets and value the role of technology in their daily lives. The banking App boasts over 2 million active devices in use and remains...

Barclays Africa in world first blockchain transaction

September 13, 2016 • Finance, Top StoriesComments Off on Barclays Africa in world first blockchain transaction

Africa was at the forefront of technological change this week as Barclays Africa and its UK parent company Barclays plc completed the world’s first trade finance transaction using blockchain technology. The trade, between Ireland and the Seychelles, was...

Ecobank set for long-term sustainable growth

Ecobank, Mastercard launch Masterpass QR in Nigeria

September 9, 2016 • Finance, Top Stories, West AfricaComments Off on Ecobank, Mastercard launch Masterpass QR in Nigeria

Ecobank Group has partnered with Mastercard to launch Ecobank Masterpass QR, an enhancement to the Masterpass global digital payment service that will enable millions of micro, small and medium enterprises (MSMEs) in Nigeria to accept fast and secure digital...

MTN Nigeria

MTN enters the insurance business

September 7, 2016 • FinanceComments Off on MTN enters the insurance business

MTN Group and MMI Holdings today announced the launch of a micro insurance joint venture, branded aYo. The joint venture will benefit from the scale, combined expertise and market access of both companies, to provide a strong basis to compete in a changing...

Is blockchain really a silver bullet?

September 7, 2016 • Finance, StartupsComments Off on Is blockchain really a silver bullet?

Blockchain is being spoken of reverently – and irreverently – by business pundits, and backed by media and industry leaders as a potential cure for all financial threats/hurdles across the globe. A blockchain has been promoted extensively as the latest...

The deVere Group is advising investors to exercise caution as the market remains volatile.

Regulating virtual currencies in South Africa

September 7, 2016 • Finance, Southern Africa, Top StoriesComments Off on Regulating virtual currencies in South Africa

The provision of banking and financial services in South Africa is a highly regulated activity and the revolutionary Fintech (financial technology) is posing a significant challenge to the current regulatory framework. The challenge has been acknowledged by...

WorldRemit welcomes restoration of money transfers to Nigeria

September 2, 2016 • Finance, Top StoriesComments Off on WorldRemit welcomes restoration of money transfers to Nigeria

  WorldRemit, a digital remittance service, has commended the restoration of money transfers to Nigeria, following the decision of the Central Bank of Nigeria (CBN) to approve WorldRemit and other international money transfer operators (IMTOs). At the...

Video Banking

How African banks are losing their hold on the payment space

August 17, 2016 • East Africa, Finance, North Africa, Southern Africa, Top Stories, West AfricaComments Off on How African banks are losing their hold on the payment space

Traditional banks are poised to lose as much as 50% of their ownership of the payment space by the end of 2016. Their hold on the space began plummeting in 2014 from 100% to 75%, and will continue to fall in the coming year. And, according to CEO of mobile...

Crossgate enters Crossfin fold to take advantage of R1.3 trillion opportunity

African Fintech innovation is about improving client access rather than experience

August 17, 2016 • East Africa, Finance, North Africa, Southern Africa, Top Stories, West AfricaComments Off on African Fintech innovation is about improving client access rather than experience

Logistics and infrastructure challenges, together with high business start-up costs, have in the past prevented many financial institutions from establishing themselves in developing markets. Thanks to technology and mobile phones, this is no longer...

Securing credit card transactional data is crucial

South Africa: New online banking platform for entrepreneurs unveiled

August 16, 2016 • Finance, Southern Africa, Top StoriesComments Off on South Africa: New online banking platform for entrepreneurs unveiled

Entrepreneurs have demanding schedules and the growth of their businesses is a lifelong project and a top priority. The right technology can help ensure that they are able to spend more time on those things that are key to their business success. Bearing this...

Worldremit Ismail Ahmed

Nigeria urged to restore money transfer services

August 4, 2016 • Finance, Top Stories, West AfricaComments Off on Nigeria urged to restore money transfer services

According to a report via TelecomPaper, WorldRemit has called for the urgent restoration of money transfers to Nigeria as draconian new rules leave virtually all money transfer operators unable to provide services to the West African country. The report...

Kenya Commercial Bank

Kenya Commercial Bank tightens banking app security

August 1, 2016 • East Africa, Finance, Top StoriesComments Off on Kenya Commercial Bank tightens banking app security

Kenya Commercial Bank (KCB) has refreshed its mobile banking application to enhance its capabilities and guarantee tighter security features as the lender deepens its digital banking agenda. According to the KCB, with the new look App, users are able to...

Djibouti joins Africa Finance Corporation

July 29, 2016 • Finance, Top StoriesComments Off on Djibouti joins Africa Finance Corporation

Djibouti has become the newest member of Africa Finance Corporation (AFC), an international investment grade multilateral finance institution investing in key infrastructure projects across Africa. Mr Ali Guelleh Aboubaker, Minister of Investments in the...

South Africa: FNB solves crippling connectivity issues

July 25, 2016 • Finance, Southern Africa, Top StoriesComments Off on South Africa: FNB solves crippling connectivity issues

First National Bank (FNB) has confirmed that it has resolved the connectivity issue that has plagued its customers since 24 July, 2016. On 25 July 2016 FNB confirmed, via a media statement, that it was aware of intermittent connectivity issues. According to...

Regulations could be an innovation enabler for banks

July 22, 2016 • East Africa, Finance, North Africa, Southern Africa, Top Stories, West AfricaComments Off on Regulations could be an innovation enabler for banks

Banks are faced with a real conundrum. They are expected to deliver relevant and innovative new services to a discerning customer base and, at the same time, are facing an ever-tightening regulatory regime. However, the astute institution could view these...