THE launch on Monday of the new African Bank marks the first time a fully fledged banking operation has emerged from curatorship in SA, and could serve as the basis for a new approach to resolving failed financial institutions. Rand Merchant Bank analyst Elena Ilkova said the new bank would start off as a more conservative […]
The true measuring stick of a new market trend often appears when customers have a number of credible commercial options to choose from. This very well may be the case for ‘challenger banks’ in 2017 as several companies, including Monzo Bank, Starling Bank and Tandem Bank, are expected to launch with new services that span […]
Central bank digital currency (CBDC) could have a substantial impact on the traditional concept of banknotes, Hiroshi Nakaso, Deputy Governor of the Bank of Japan, said recently. Speaking at the Forum Towards Making Effective Use of the BOJ-NET, Nakaso reflected on a number of areas including CBDCs, blockchain technology, and FinTech, among others. He noted that […]
Microfinance Institutions Network (MFIN), a self-regulatory organisation and industry association of the microfinance industry in India, launched a financial literacy mobile app for microfinance clients. The launch witnessed the presence of Ms Meenakshi Lekhi, Member of Parliament along with Mr. Manoj Mittal, Deputy Managing Editor, SIDBI and marked the inauguration of the two-day conclave. ‘Microfinance in […]
Powering the payments process will be fintechs such as Australian start-up Assembly Payments, which provides a single payment platform that is compatible with various disbursement channels, with clients so far including Gumtree, Airtasker and carsales.com.au. Online innovations such as Amazon’s digital assistant Alexa are already enabling customers to shop via voice-activated transactions, while messenger apps […]
Consumers are more mobile than ever, and the banking industry shows just how quickly innovations alter consumer behaviors. It took decades for simple cash-dispensing ATMs to be accepted, but now mobile apps and FinTech define the entire future of banking real estate. While the recession forced banks to tighten operating costs and halt branch growth, […]