A PwC analysis shows technology investment is accelerating as incumbents face pressure from challenger banks.
Browsing: FirstRand
JSE-listed fintech Optasia has smashed its listing guidance, with revenue up 76% and users climbing 43% to 432 million.
Optasia will list on the JSE at a valuation of R23.5-billion following the closing of its bookbuilding exercise.
FirstRand Group has committed R4.7-billion to buy 20.1% of soon-to-be-listed multinational fintech Optasia.
With one notable exception, IT spend in South Africa’s banking sector has remained relatively stable.
Total IT spend at FirstRand for the financial year ended 30 June 2024 reached R19.3-billion, up 8% from 2023’s figure.
First National Bank has appointed La-Cell Mouton as its chief information officer.
Private equity shareholders of Primedia are considering strategic options for their stakes in the broadcasting group.
Cloud migration projects are making way in South African banks’ IT budgets for AI and cybersecurity.
FNB’s Christoph Nieuwoudt is a leading expert on artificial intelligence. He joins Duncan McLeod on TCS+.