South African assets have rallied in recent months, yet the head of the country’s biggest bank still sees a cautious approach among many foreign investors.
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IT spending by South Africa’s big banks is in the billions of rand each annually, and growing fast.
Standard Bank Group said 99% of its transaction volumes in South Africa are now cashless, a trend that has helped it to cut costs.
Standard Bank Group’s goal of adding at least 10 million customers ahead of a 2025 deadline has set the stage for a tug-of-war over Africa’s wealthiest clients.
Standard Bank will within years transform into a marketplace where clients can also access rivals’ products and a variety of services beyond just banking, it said on Friday.
Standard Bank Group is planning to scale up some of its operations and further digitise its systems to fend off fintech firms encroaching on its client base.
Standard Bank Group said on Wednesday that it has selected Amazon Web Services as its preferred cloud provider as it shifts various production workloads, including its customer-facing platforms, to the cloud.
Hot on the heels of reports that Vodacom is poised to tie up with Nedbank to launch Vodafone’s M-Pesa mobile…