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.
South Africa
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 […]
Discovery in core banking system selection mode for new bank
One of South Africa’s largest health insurers, Discovery, is a step closer to selecting a core banking system for its new bank, Banking Technology understands. Discovery went public on its plans to launch a brand new full-service retail bank in South Africa last year. As part of this ambition, it acquired the majority stake in […]
Nedbank South Africa revamps payments ahead of September 2016 deadline
South Africa’s Nedbank has chosen Volante Technologies to help it revamp its payments message service using VolPay Foundation, which focuses on validating and processing payments. The move comes ahead of regulatory change next year, which will force all South African institutions to change the way they handle payments.
South Africa’s JSE aims to ‘spearhead’ African cross-listings with ETFs
Stock markets in Nigeria, Kenya and South Africa are planning to launch cross-listed exchange traded funds later this year, as part of an initiative that aims to boost liquidity across Africa’s three largest markets.
JSE overhauls derivatives and fixed income systems
South Africa’s Johannesburg Stock Exchange is moving its derivatives and fixed income markets onto Millennium Exchange, the trading platform it bought from the London Stock Exchange when it moved its equities market earlier this year.
Johannesburg Exchange revamps clearing and derivatives trading
South Africa’s Johannesburg Stock Exchange has begun a massive overhaul of its clearing and trading systems, which will see its siloed clearing platforms replaced by a single engine from vendor Cinnober and its derivatives market shifted onto the London Stock Exchange’s MilleniumExchange platform.
Standard Bank launches West Africa expansion drive via Côte d’Ivoire
Standard Bank of South Africa has launched a major expansion drive in West Africa, starting with the opening of a new representative office in the Côte d’Ivoire. The bank plans to use the Abidjan office to become familiar with the region and identify further opportunities within it.
Nedbank South Africa launches Africa’s first ‘green’ bank branch
South Africa’s Nedbank has opened a bank branch powered entirely by renewable energy, a move that it claims is the first of its kind in Africa.
Euroclear and South Africa’s CSD plot fund platform
South African central securities depository Strate and Belgium’s Euroclear are planning a new collaboration to make South Africa’s mutual fund transactions more electronic –including the creation of a centrally hosted mutual fund settlement and custody platform.
