Mobile money could make Africa the new boss
Samsung Pay has officially launched in the UK, continuing the evolution of the digital economy, but does this technology have the potential to disrupt the global pecking order?
Africa
South Africa’s Mercantile Bank goes omnichannel with TCS Bancs Digital
South Africa-based Mercantile Bank has implemented a new digital channels platform, TCS Bancs Digital, supplied by TCS Financial Solutions.
Middle East and Africa the world’s fastest growing payment cards region
The Middle East and Africa (MEA) is the payment cards region increasing the quickest across the globe, according to research by Retail Banking Research (RBR). According to RBR’s Global Payment Cards Data and Forecasts to 2021, the number of cards in issue in MEA increased by 13% to 611 million in 2015, making it the […]
Innotribe unveils ten start-ups for Africa challenge
Innotribe, Swift’s innovation arm, has named the ten firms who will compete in its Start-up Challenge Africa. The start-ups will pitch their products in Abidjan, Ivory Coast, on 17 May 2017 during Swift’s African Regional Conference. Innotribe evaluated close to 100 applications received for the third edition of the Startup Challenge in Africa. The applications […]
HF Group live with new core banking system, Intrasoft’s Profits
Kenya-based mortgage lender Housing Finance (HF Group) has gone live with a new core banking system, Profits, supplied by Intrasoft International.
2017: South Africa – blockchain fizzle or sizzle?
While the maturity of blockchain discussions and advances are at different stages of development around the world, blockchain is said to be at the height of the Gartner hype cycle. This implies that 2017 will be the year where disillusionment with the technology begins. However, 2017 may also see some real breakthroughs with its application and the emergence of pockets of the first concrete results.
Central Bank of Lesotho overhauls tech with Intellect Design Arena
The Central Bank of Lesotho has gone live on Intellect Design Arena’s Quantum Central Banking Solution (QCBS). According to India-based Intellect, the “key highlight was an accelerated implementation with zero errors during migration despite complex integration with multiple external interfaces”. Mothetsi Sekoati, head of business solution at Central Bank of Lesotho, says the project is […]
The Monday mindset: 10 April 2017
Fintech zeitgeist! Every Monday, we might look back at last week; look ahead to this week; share a few thoughts (our own or others); or discuss anything that catches our eye. This week, Banking Technology’s deputy editor Antony Peyton briefly reflects on last week’s visit to Morocco for HPS Worldwide’s PowerCARD Users Meeting 2017. At […]
HPS Worldwide’s PowerCARD 2017: no fintech firm is an island
Morocco-based payments firm HPS Worldwide is setting its sights on growth through the use of APIs and extensive collaboration with start-ups. At its PowerCARD Users Meeting 2017, held 5-7 April, in the lively city of Marrakesh – about 400 people from over 50 countries listened to presentations from the company and its partners. The message […]
NLS and KCB Bank in court over tech use
Kenya-based banking tech provider and integrator NLS Banking Solutions is seeking an injunction against Kenya Commercial Bank (KCB) for software infringement rights.
Nedbank overhauls commercial lending with Misys tech
Nedbank, one of South Africa’s largest banks, is implementing a new syndicated lending system, Fusionbanking Loan IQ, supplied by Misys.
Commercial Bank of Africa goes Loop-y for millennial entrepreneurs
Kenya-based Commercial Bank of Africa (CBA) has unveiled its mobile-based banking service as it targets millennial entrepreneurs. The new service, created in collaboration with software provider Strands, is called CBA Loop and core banking services will be available on the mobile phone app. Users can manage their personal finances, send money, schedule utility bills payments, […]
Housing Bank Algeria in tech revamp with Infosys Finacle
Housing Bank Algeria, a subsidiary of Jordan-based Housing Bank for Trade and Finance (HBTF), is modernising its front-to-back office technology with Infosys Finacle.
Mfinance concludes integration platform tender
Kenya-based banking tech provider and integrator NLS Banking Solutions has won the bid to supply an integration platform to Madison Finance Company (Mfinance) in Zambia.
Guaranty Trust Bank extends ICS Banks core system roll-out to Tanzania
Guaranty Trust Bank (GTBank), a Nigeria-based bank operating across multiple countries in Africa, has extended the roll-out of its core banking system, ICS Banks, to Tanzania. The solution is supplied by ICS Financial Systems (ICSFS).
Kenya Bankers Association unveils real-time interbank switch
Kenya Bankers Association (KBA) has launched its real-time interbank switch, PesaLink, and kicked off a phased rollout of the digital payments platform. The product has been in the making since 2013, when KBA member banks decided to create their own industrywide switch to rival the M-Pesa services. KBA vice-chairman John Gachora says PesaLink is “proof […]
2017: the year fintech shifts its focus to Africa
Africa is becoming a very interesting fintech innovation hub (in particular South Africa, Nigeria and Egypt). As much as 80% of the continent is unbanked, opening the door to a breadth of opportunities for fintech companies to seize market share.
Innotribe start-up challenge returns to Africa
Swift Innotribe’s “Start-up Challenge for Africa” is open for applications. For the third year running, the challenge will be part of Swift’s African Regional Conference (ARC) held in Abidjan, Ivory Coast, from 16-18 May 2017. ARC typically attracts up to 500 delegates from around 40 countries, according to Swift. It offers the usual mix of […]
Ecobank launches fintech challenge for start-ups
Pan-African banking conglomerate Ecobank has launched a fintech challenge for start-ups. The event, open to Africa’s entrepreneurs, innovators and developers, provides an opportunity to win $500,000 in funding as well as partner with Ecobank and roll out services across 36 countries.
New digital bank, SunTrust, runs on ICS Banks core platform
SunTrust Bank in Nigeria has renewed the contract with banking software vendor ICS Financial Systems (ICSFS) for its ICS Banks core banking system.
Centenary Bank live with new core banking system, Profits
Centenary Bank in Uganda has gone live with a new core banking platform, Profits, supplied by Intrasoft International.
NetGuardians signs fintech deal with Keystone Bank
Nigeria-based Keystone Bank has selected the FraudGuardian solution from NetGuardians for protection from online banking fraud.
ICSFS gains new core banking client in Ghana, BOND Savings and Loans
BOND Savings and Loans, a Ghana-based financial services company, has selected new core banking software provider and system as it is aiming to become a fully-fledged bank in 2017. ICS Financial Systems (ICSFS) has won the contract to supply its flagship ICS Banks system to BOND.
People’s Bank of Zanzibar to overhaul core banking tech with ICS Banks
People’s Bank of Zanzibar (PBZ), a state-owned bank in Tanzania, has concluded its core banking system selection. The bank has signed a deal with ICS Financial Systems (ICSFS) to implement the vendor’s ICS Banks platform.
Beige Capital in Temenos T24 core banking revamp
Ghana-based Beige Capital Savings and Loans (BCSL) is in the final stages of rolling out Temenos’ T24 core banking system. The T24 project formally kicked off in February this year, after the November 2015 launch of BCSL’s new technology centre in Accra. During that same period consultants from Temenos and London-based systems integrator Jethro were […]
Fintech funding round-up: 13 December 2016
Who is investing in what? Our latest fintech funding round-up, mercifully brief as usual. Featuring ApplePie Capital and Firepay.
Orabank live with new core banking system, Sopra Banking Amplitude, in 12 countries
Orabank, a retail, SME and corporate banking group based out of Togo, has completed the implementation the Sopra Banking Amplitude core system, supplied by Sopra Banking Software. The new, standardised solution has been rolled out across 12 countries in West and Central Africa.
HDB in Egypt live with Temenos T24 core banking system
Housing and Development Bank (HDB) in Egypt has gone live with new core banking software, Temenos’ T24. The new system ousted an in-house legacy development that “had been deeply customised to cater for HDB’s specific requirements”, according to Temenos.
Barclays Accelerator open for applications from fintech start-ups
Barclays Africa and Techstars are inviting start-ups to apply for the Barclays Accelerator programme – “an initiative aimed at uncovering the next M-Pesa or Paypal”.
National Bank of Malawi opts for NetGuardians system to prevent fraud
National Bank of Malawi is implementing the FraudGuardian platform from Swiss specialist vendor NetGuardians. The new solution will “protect customers’ data and prevent fraud,” the vendor says.
Streamlining payments industry in Africa
The economy of the future will need a vastly different platform for making payments. Consumers and corporations will need access to easier, faster and flexible platforms. I have entered the market with the bold objective of bringing to South Africa and Africa, the revolutions underway in global payments infrastructure – and the necessity of re-design to keep up with the “payments Joneses”.
Sterling Bank live with new core banking system, Temenos’ T24
Nigeria-based Sterling Bank has gone live with a new core banking system – Temenos’ T24 – in a “big-bang” switchover. The new platform was rolled out across the entire branch network of Sterling – 185 locations. The platform is used to support all main retail and corporate operations of the bank. Temenos refers to the […]
Discovery step closer to obtaining banking licence
South Africa’s insurance group Discovery has received the green light from the regulators to set up a bank – the anticipation is that a banking licence will be granted within a year.
Ecobank launches unified mobile app in Africa
Pan-African banking group Ecobank has launched its Ecobank Mobile App across the continent – the “first unified app delivered by any institution for use in 33 countries”. Ecobank says the app will give it the “scale and capacity” to achieve its target of attaining 100 million customers. Ecobank Group CEO Ade Ayeyemi says the app […]
Sibos 2016: De-risking in Africa
Correspondent banking enables banks to access products and services which might otherwise be unavailable. By enabling cross-border transactions and access to overseas products, correspondent banking plays an important role in the global payments landscape, states Swift.
BGFI Bank picks Wolters Kluwer’s OneSumX for regulatory reporting
BGFI Bank, the Gabon-based financial services conglomerate, has chosen Wolters Kluwer’s OneSumX regulatory reporting software for its French and European banking authority reporting obligations. The bank is also using the firm’s Regulatory Update Service. This service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, “helping to ensure the solution […]
South Africa’s big four banks spend IT big
The big four retail and commercial banks in South Africa – Standard Bank, Absa/Barclays Africa, FirstRand and Nedbank – have been upping their games in information technology (IT) expenditure.
How agency banking can empower emerging markets
Extending the reach of financial services in emerging markets is an ongoing challenge and opportunity for traditional banks. Telcos have led the relatively recent development of mobile money products with great success; achieved primarily through the use of innovative technology and agents on the ground. GMSA reports that 37 mobile money markets have ten times […]
Microcred to become fully-fledged bank; Temenos to provide core banking tech
International microfinance entity Microcred plans to become a fully-fledged retail bank and grow its presence from nine to 17 countries by 2020. It has opted to keep its long-standing technology provider, Temenos, and upgrade to a single instance of the vendor’s flagship system, T24. It will be operated from Dakar, Senegal. Microcred has recently signed […]
First National Bank launches smartphones for mobile banking boost
Welcome to the bundle. South Africa’s First National Bank has launched its own-branded smartphones as it looks to mobile banking growth. The ConeXis X1 and A1 phones will be available from 380 branches around the country and come bundled with FNB’s smartphone banking app. Jan Kleynhans, CEO of the FNB Consumer Segment, says the initiative […]
