Absa Blocks Third Party Aggregation Site

Third party aggregation sites pose a clear risk to customer security and 22seven will be blocked again, Absa says…. Even though 22seven’s ability to pull data from an Absa Internet Banking customer’s account has been restored, this is not with the bank’s...

UK and France Clash Over Equity

“Europe is about to set in stone a first set of standards designed to strengthen banks” reports Le Figaro. Finance ministers from the 27 member states are meeting today (May 2) put into law the international standards, known as “Basel 3”, developed to...

Standard Bank Focus Change

Standard Bank will not pursue short-term gains to achieve further dominance in Africa but will push to aggressively expand return on equity, which is still too low, says group CEO Jacko Maree. He also ruled out acquisitions by Africa’s largest bank by assets, saying...

New Mobile Banking Systems in SA

South Africa has two new innovative mobile payment systems of its own. The first, called Gust, has quietly been operating since last month and is being used in a closed system to pay for the lunches of MXit cellphone service staff. The second is FNB’s new...

Barclaycard Tells Customers to Stick It

Barclaycard announced the launch of a mobile payment program called PayTag that uses an NFC-enabled sticker affixed to the back of a mobile device to make contactless payments at point of sale terminals. It turns any mobile phone, even those without NFC capabilities,...

Basel 3 Will Cost

The new Basel 3 banking rules are likely to increase funding costs for banks by as much as 30%, says leading rating agency. The implementation of Basel III in the global banking sector will require greater management of risk and capital, according to a report by...

FNB Winner in Internet Banking Survey

Survey reveals most satisfied internet banking customers A new survey by online market research specialists, Columinate, has revealed that FNB and Capitec clients are the most satisfied when it comes to Internet banking. The survey was conducted amongst 1353...

SA Banks and Market Share

Finally, the day has arrived where the customer may just get a fair, maybe even a good, deal in the SA banking environment. South Africa’s major banks are fighting for market share by promising consumers lower bank fees and a more customer friendly experience. In its...

Credit Card Payment Growth 2012

Credit Card Payment Markets to Watch in 2012 Euromonitor International took a look at the markets that are expected to show the most card payment volume growth in 2012. Emerging markets account for all of the slots on Euromonitor International’s list of the top 10...