Standard Bank caused a bit of a furore on Twitter on Thursday when it tweeted that it had lodged a complaint with the Advertising Standards Authority over an advertisement competitor First National Bank placed in weekend newspapers. It accused its rival of “misleading advertising”. Although the bank says filing the complaint
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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
Stellenbosch-based social networking company MXit has a one-year window of opportunity to improve and expand its products and services if it’s going to fend off an onslaught of rival services like instant-messaging application WhatsApp, says its new CEO, Alan Knott-Craig. “The main risk
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
Financial management website 22seven has been live for just a day and already it’s facing its first serious challenge. Some of SA’s big banks have begun warning their customers not to provide their banking login details to the service, which aggregates users’ financial information to give them a graphics-rich picture of their income and spending
Standard Bank and Nedbank have finally offered their opinions on online personal financial management (PFM) start-up 22seven, which has been garnering an enormous amount of attention and controversy from banks and consumers alike since launching on Thursday. Absa and First National Bank have both weighed in
And here they are. TechCentral’s top five newsmakers of 2011. Our “Newsmakers of the Year” award is presented to individuals we believe had the biggest impact on SA’s technology sector in the past 12 months. For the most part, they’re also the the people who made the headlines during the
It is getting easier and easier for consumers to transfer money anywhere in the world as new technologies come to market using cellphones and payment networks. In the past week, Visa and MTN announced a payment platform that allows cross-border transactions, FNB opened up its
Absa Bank has reached an agreement with the department of home affairs that allows the bank to access the Home Affairs National Identification System (Hanis) in an effort to reduce identity fraud. It has also overhauled its sign-up process, making it paperless, and
Though it’s long been possible to transfer money into a PayPal account using an SA credit card, for the past 18 months the only way SA users of the payment service could retrieve funds from it was via a linked First National Bank (FNB) account. Now users of any SA bank can