While there’s been an outsize (and bizarre) outcry about First National Bank’s decision to close somewhere between 25 and 40 branches in a round of “optimisation”, the country’s big four retail banks have been steadily cutting the number of branches for years
A recent spate of Sim-swap fraud cases saw First National Bank and MTN South Africa portrayed as the least trustworthy companies in their respective industries. Dozens of people have fallen victim to the Sim-swap scam, having hundreds of thousands of rand
Banking group Absa has piloted a new predictive alert service that notifies customers of potential shortfalls in their bank accounts and offers personalised options to help them manage their finances. The idea is that the alerts
Absa has partnered with MTN to allow subscribers to the telecommunications network operator to have zero-rated data access to the banking group’s Internet banking facilities. MTN clients will get zero-rated (free) access via Absa’s smartphone banking
Former Absa CEO Steve Booysen, who now heads up Metrofibre Networx – in which he is a significant investor – has outlined plans by the broadband telecommunications specialist to become the latest player to target South Africa’s fast-growing fibre-to-the-home market
Absa will be the first bank in South Africa to implement Visa’s new specification for the use of biometrics with chip card transactions and will develop a proof of concept trial to be launched this summer. The specification can enable palm, voice, iris or facial biometrics, Visa said in a
Capitec came out tops for its social media performance among South Africa’s banks, according to the 2014/2015 Ubiquity Social Intelligence Report released on Wednesday. Capitec was also the only bank to receive a net positive opinion on social media
The South African Reserve Bank’s monetary policy committee hiked the repo rate by 25 basis points to 6%/annum, effective from 24 July 2015, its governor Lesetja Kganyago announced on Thursday. Banks will raise their prime lending and variable mortgage
The US Securities and Exchange Commission has decided to not to prosecute Johannesburg- and New York-listed electronic payments specialist Net1 UEPS Technologies over allegations that the
First National Bank has recently begun issuing credit cards with embedded “tap and go” near-field communication technology. “FNB can confirm at all new FNB credit cards that are being issued are enabled with
