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.
Weeks after announcing a comprehensive cloud computing deal with Amazon Web Services, Standard Bank said it has signed a strategic partnership with AWS rival Microsoft.
The decision by Standard Bank to close 91 branches and cut 1 200 jobs is not at all surprising – the only surprises were that the bank announced it publicly and that it did so before elections in May.