Nedbank Group is in talks with about 1 500 employees over potential job cuts at the lender’s retail and business banking division to cope with a struggling economy and increased competition.
Discovery Bank will start accepting new clients from Monday, three months later than it had anticipated when it unveiled its banking proposition in November.
Combined gross fraud losses on South African-issued bank cards soared by 18% in 2018, compared to the previous year, and totalled an astronomical R873.4-million, industry body Sabric said on Wednesday.
First National Bank and Capitec have tied for the title of South Africa’s best digital bank in research agency Columinate | Insight Consulting’s latest SITEisfaction survey.
Two Gugulethu entrepreneurs applied on Tuesday to the court of the Commissioner of Patents in Pretoria for an interdict to stop Nedbank from using a card-blocking system they say was stolen from them.
First National Bank’s online banking website suffered unscheduled downtime on Tuesday, with frustrated customers taking to social media to complain about the outage.
The country’s big four traditional banks – Absa, FNB, Nedbank and Standard Bank – have together shut 695 branches since their respective peaks in the earlier part of this decade.
Standard Bank has announced the full list of branches that have been or will be closed, as part of the realignment of “its retail and business banking delivery model”.
FNB has announced sweeping changes to its eBucks loyalty programme, including giving clients the ability to earn double their fuel rewards on a quarterly basis with up to R8/l back at Engen petrol stations.
As a price war intensifies in South Africa’s banking sector, FNB has announced it will cut the fees of some accounts and offer free airtime and data to account holders.