Banking News

The Banking community of South Africa South Africa Banking news

  • Online banking fraud keeps Banking Ombudsman on its toes two years running
    on May 21, 2019 at 10:45 am

    The Ombudsman for Banking Services (OBS) has released its Annual Report highlighting some interesting statistics for its operations for 2018. Key highlights for the year are:Read more... | Send to a friend […]

  • Gender equality promotes better economies
    on May 20, 2019 at 8:10 am

    Donna Rachelson</span>The world economy would be less prone to financial collapse with more women in senior roles, says International Monetary Fund (IMF) Head Christine Lagarde. Her statement is backed up by a new study by the organisation saying the benefits of having more women in the workplace is greater than originally though.Read more... | Send to a friend […]

  • Online banking fraud keeps ombud on its toes
    on May 17, 2019 at 7:32 am

    Customer complaints about internet banking fraud and ATM- and credit card-related issues kept the Ombudsman for Banking Services (OBS) busy in 2018, its annual report says.Read more... | Send to a friend […]

  • Unpacking the draft Conduct Standard for Banks...
    on May 10, 2019 at 1:10 pm

    On 29 April 2019, the Financial Sector Conduct Authority (FSCA) released a statement supporting the draft Conduct Standard applicable to the conduct of banks under section 106(2)(b) of the Financial Sector Regulation Act 9 of 2017 (FSR Act).Read more... | Send to a friend […]

  • SA Bank of Athens repositioning as Grobank
    on April 25, 2019 at 9:27 am

    Against the background of South Africa's rapidly evolving and expanding banking landscape, where digital solutions and low-cost operating models have become some of the top challenges, the former South African Bank of Athens has repositioned itself as a new banking entity - Grobank.Read more... | Send to a friend […]

  • Pensioners targeted in credit card fraud, stats show
    on April 12, 2019 at 12:37 pm

    In the review of the first quarter of 2019, the Ombudsman for Banking Services has seen an alarming increase in credit card fraud.Read more... | Send to a friend […]

  • Bank customer loyalty eroded by vanilla offerings
    on April 11, 2019 at 9:11 am

    Image source: Getty/Gallo</span>Core banking products are largely undifferentiated across the various brands, resulting in customers who are becoming increasingly multi-banked, as they search for an institution that satisfies all their functional and service requirements.Read more... | Send to a friend […]

  • Errant foreign exchange traders sanctioned
    on April 3, 2019 at 11:33 am

    Image source: Getty/Gallo</span>The South African Reserve Bank (Sarb) has imposed administrative sanctions on three authorised dealers in foreign exchange with limited authority (ADLAs).Read more... | Send to a friend […]

  • Policy and the potential of mobile money for financial inclusion
    on March 29, 2019 at 11:33 am

    Akinwale Goodluck</span>Mobile money has changed the face of financial services forever. It has driven significantly greater financial inclusion in emerging markets around the world, positively impacting whole communities and economies.Read more... | Send to a friend […]

  • Customer experience will make or break traditional banks
    on March 27, 2019 at 9:26 am

    Image source: Gallo/Getty</span>This is a watershed year for the banking sector as traditional banks face intense competition and disruption from new entrants such as Discovery Bank, Bank Zero and TymeBank. In such an environment, customer satisfaction is a deal breaker when it comes to how much market share is lost to new entrants.Read more... | Send to a friend […]