The Ombudsman for Banking Services’ annual report reveals that it opened 7 717 formal cases in 2020 – a new record. That’s a 19% increase on the prior year, despite the Covid-19 lockdown.
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Capitec has launched QR payments in its app, allowing clients to scan barcodes to make payments at the point of sale or online, including where merchants use Zapper or SnapScan.
Promoted | IT experts from major South African companies recently shared their experiences at a TechCentral CIO Vision Roundtable on DevOps, and hosted by Micro Focus.
Fintech is rapidly transforming the very essence of global financial services. Here are predictions for the financial services market for 2020 based on what we’ve observed globally and locally. By Dominique Collett.
First National Bank’s new First Business Zero Account, with no monthly fees, has made competitors sit up and take notice.
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.
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.
From free burgers and ride-hailing services to hip-hop concerts and discounted petrol: South African banks are going all out to win customers as competition hots up.
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.
South African banks are reporting phenomenal growth in the use of banking apps despite the country’s finite banked population, stagnant levels of smartphone penetration and relatively low levels of financial literacy.