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Mastercard’s new Early Detection System to help combat account-related fraud
Mastercard has announced the launch of its Early Detection System, a new service that provides issuers with a unique advanced alert for cards and accounts at a heightened risk of fraudulent use based on their exposure in security incidents or…
Visa and Uber partner to encourage use of e-payments in Kenya
Uber and Visa have announced a strategic agreement that aims to grow digital commerce across Africa. Under the agreement, Visa will work with its financial institution partners to set up their debit and credit portfolios for eCommerce. The new promotion…
Wafacash and WorldRemmit to offer instant money transfers across Africa
Morocco-based financial services company, Wafacash, has announced that the company is scaling up operations with digital money transfer service WorldRemit to offer instant money transfers across West and Central Africa. The companies, who already work together in Morocco and Senegal, will expand into…
Roughted remains the top malware in Africa to watch out for
Check Point Software has revealed that banking Trojans were extensively used by cyber-criminals during August 2017, with three variants appearing in the company’s latest Global Threat Impact Index. The Zeus, Ramnit and Trickbot banking trojans all appeared in the top…
Stash: The investment app taking South Africa by storm
People want to believe in the companies they invest in. This is where Stash comes in – the investment app now available on Android. The app has seen over 17 000 South African downloads since May 2017. Good news for…
Kenya gets new cybersecurity policy
Aon Kenya, an insurance company has launched an enterprise Cyber Enterprise Solutions with the aim to protect businesses against cybercriminals, data loss and the potential ramifications of a cyber-incident. According to the company, the policy covers products liability to address…
Blockchain could make bank reconciliation easier
Blockchain is a buzz word that isn’t going away. Yet few people in the financial industry truly understand the technology and the implications thereof. Blockchain is an open, distributed ledger that can record transactions between two entities efficiently and in…
Namibia: PayToday launches mobile business and fuel payments
According to a report by Telecomspaper, Namibian payment start-up, PayToday, announced on Monday 25 September 2017 that the company has added a variety of business payment options to its solution, which initially was just peer-to-peer payment app. According to the…
Retailers should strive for integrated payments that span all channels
Over the past 20 years, disruptive digital companies have upended consumers’ expectations of the shopping and payments experience. It started in 1999 when Amazon patented one-click shopping and has evolved over the years into the invisible instant payments options offered…
How AI’s disrupting customer service in the financial services industry
Robo-advice and artificial intelligence technologies are fast-tracking new investment opportunities at a lower cost than traditional investment options – disrupting financial institutions’ approach to customer interaction. These automated platforms, that use algorithms to manage investments at a lower cost than…
Complex financial transactions need simple solutions
According to the recent global Customer Experience in Banking Survey, 68% of South African customers cited getting the same level of experience and service across all channels as a priority, reflecting a common preference for African nations who want to…
Youtap launches payment processing platform as a cloud-based service
Youtap, a global provider of contactless mobile payments and financial services software, announced on Monday 25 September 2017 that the company has launched Youtap Cloud, a payment processing platform which is delivered as a cloud service for mobile money and…
Are we safe to bank on biometrics?
For financial institutions, the primary goal of digitisation is making banking simpler and more intuitive for customers. Biometric identification has huge potential, offering convenience, simplifying password management and providing a frictionless authentication process. However, combining the desire for ease of…
South African software developers are in high demand
South African software developers that service the financial sector are in high demand locally and internationally as they capitalise on expertise gleaned from operating in one of the most sophisticated banking and advanced mobile tech environments in the world. The…
The benefits of cloud accounting software
If you’re running an ambitious accounting business, then our advice is straightforward: move your business to the cloud. Xero research reveals that cloud-based accounting firms have five times more clients on their books than traditional firms. On average, these cloud-based…
Is it the end of “one-size-fits-all” banking?
With Capitec’s latest trading update making a case for what consumers in emerging markets want – and need – the time for “one-size-fits-all” banking looks set to be over. As the bank continues attracting up to 150 000 new customers each…
