“Today, tomorrow, goodbye.” This tagline, a cheeky version of Absa’s slogan, “today, tomorrow, together”, used by trade union Solidarity in its Stop Absa campaign this week, reflects the sweeping changes at the country’s second largest bank. Hundreds of staff were given retrenchment notices this week or asked to reapply for their positions, while some were given immediate marching
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Absa on Thursday denied claims that it was firing 3000 staff members. “Absa confirms that there is no mass retrenchment being undertaken within the company,” spokesman Ajith Bridgraj said in a statement. “Absa has and will continue to evolve its systems and processes, which sometimes lead to very limited job losses
Absa subsidiary AllPay has accused the SA Social Security Agency (Sassa), of an irregular tender process wherein the company’s score was “inexplicably” lowered so that its competitor would win the R10bn contract. This was contained in a supplementary founding affidavit filed by AllPay earlier this month. The Absa division responsible for paying out social grants filed
SA technology journalist Simon Dingle has been hired by Cape Town-based personal financial management start-up 22seven to head its product strategy and design team. Launched in January, 22seven is headed up by Christo Davel, the former CEO of now-defunct online bank 20twenty. Dingle will continue to write for Finweek magazine
Absa denied rumours on Thursday that it is planning mass retrenchments to cut costs. Employees affected by its restructuring process, were being given the opportunity to apply for positions across the group, it said. It was responding after Solidarity challenged Absa CEO Maria Ramos to confirm or deny rumours
JSE-listed technology group Gijima has lost half of its desktop outsourcing project with Absa, with about 50% of a long-running desktop services contract to be “in-sourced” to the banking group. Absa is one Gijima’s biggest clients and the deal is worth about R200m/year top the IT group
First National Bank (FNB) has become the first SA bank to allow personal financial management start-up 22seven access to its customers’ accounts, albeit on a limited basis. The move stands in stark contrast to FNB rival Absa, which has blocked 22seven — specifically its US technology partner Yodlee
“You’re being irrational.” No one likes to hear those words. They are the verbal equivalent of a pat on the head. But, like it or not, we are fundamentally irrational beings. And the area in which we should be the most clear-headed, our personal finances, is usually
Online “phishing” fraudsters, who try to con consumers out of their personal banking details to steal their money, target clients of Absa the most, data from a local e-mail company shows. Yossi Hasson, MD of open-source e-mail solutions and network management company Synaq, runs a phishing signature database using
Online personal financial management start-up 22seven on Wednesday accused Absa of blocking its US technology partner Yodlee from accessing users’ Internet bank accounts. Absa confirms it has blocked the service and on Wednesday defended its decision in an interview with TechCentral. 22seven has provoked