Trust, not tech, will decide Africa’s digital-asset future
Research across five countries finds consumers prefer banks over crypto platforms, citing security, regulation, and protection from scams.
Absa
Absa partners with Ripple to offer cryptocurrency custody services in SA
The partnership positions Absa among South African banks exploring blockchain infrastructure, offering secure custody for cryptocurrencies.
Capitec joins Pick n Pay banking network
While other banks scale back, Capitec is expanding its footprint – joining Pick n Pay’s in-store banking and actively opening new ATMs nationwide.
FICA non-compliance costs bank R10 million
Absa was fined R7m for inadequate customer due diligence and R3m for delays and closures of transaction monitoring alerts.
Debarment set aside as Tribunal distinguishes negligence from dishonesty
The case highlights that debarment is reserved for instances of clear, intentional breaches of integrity, not mere negligence.
MPs push for deeper financial sector transformation
The Finance and the Trade and Industry committees will engage with roleplayers from across the sector before finalising a report that will be tabled in Parliament.
How consumers feel about the country’s big retail banks
One digital bank emerges head and shoulders above the rest in the 2024 South African Banking Sentiment Index.
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Pensioner claims cryptocurrency trader could have stopped fraud
The High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
Which banks offer the cheapest transaction accounts in South Africa?
Solidarity’s latest Bank Charges Report singles out the progress made by Nedbank regarding competitiveness and transparency.
Top employers benefit from bridging the hybrid work gap
Sanlam, Momentum Metropolitan, and Absa secured consecutive Top Employer certification for 2024 by excelling in HR practices and innovative initiatives, with a focus on employee well-being, diversity, digitisation, and flexible hybrid work models.
Financial services entities recognised for exceptional HR practices
They are among the 138 South African employers to earn the accreditation of ‘top employer’.
Ready to be heard, says Investec in rand-fixing case
Investec has expressed its readiness to present its case in the Competition Tribunal after the Competition Appeal Court dismissed the rand-fixing case against several banks, including Standard Bank, FirstRand, and Nedbank, this week.
Black Friday: retailer payday or sales fizzle?
Shopping statistics reveal top trends in consumer purchases over the Black Friday weekend.
Keeping it real-time: adoption rate of digital payment service PayShap ticks up
PayShap adoption takes another leap forward as Discovery joins banks offering the real-time digital payment service to their clients.
The two banks with the biggest increase in complaints in 2022
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Thursday briefing: a round-up of recent financial services news
FNB to expand adviser network | Extending mortgages to fund solar unwise | Bank staff sentenced for fraud | ANC-EFF coalition ‘worries investors’
