Tag Archivesbanking

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Short-term Bank Deposit Complaints – the FAIS Ombud can help!

As a result of the introduction of the Financial Sector Regulation Act on April 1 of this year, the FSCA is now more than ever dedicated to regulating market conduct across all financial institutions in South Africa, the FAIS Ombud says in a statement published today. (more…)

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Michael Jordaan, co-founder and chairperson of Bank Zero

Bank Zero starts first trial runs

Bank Zero Mutual Bank – which is more than 45% black-owned and 20% women-owned – was granted their licence, has integrated with the national payments systems of the South African Reserve Bank, and is currently Alpha testing their App-driven bank. (more…)

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5 Reasons to Love ChatBanking on WhatsApp

By Suzanne Patterson, Senior Digital Product Owner (Retail & Business Banking), Absa Group Limited. How many times do you check your phone every day? Probably a good few. And if you’re like most other people with a smartphone in South Africa – or anywhere in the world, actually – chances are that it doesn’t end […]

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SA banking system: Resilient financials amid a weakening economy drive our stable outlook, says Moody’s

Moody’s says in its outlook on the SA banking system issued today: We have changed our outlook for the South African banking system to stable from negative, reflecting our assessment that the banks’ financial metrics and creditworthiness will remain resilient over the next 12 to 18 months, despite weakening operating conditions. Slow economic growth will […]

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The real cost of banking

Fees have increasingly been in the spotlight in 2018, and with rising competition in the banking sector and budgets coming under severe pressure, Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions, notes that it is high time South African businesses took a hard look at their banking costs.  (more…)

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FNB branches widen digital banking reach

FNB customers are increasingly using the bank’s branch based Digital Zones to transact. The bank says the use of its Digital Zones has grown considerably since introduction in 2016 with more than a third of all service transactions done in branches, completed in the digital zone. Lee-Anne van Zyl, CEO of FNB Points of Presence, […]

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Piggy Bank Savings

Busy year for Banking Ombudsman

The Ombudsman for Banking Services (OBS) has today released its Annual Report on operations for 2017. Key highlights for the year are that 7056 formal cases that were opened, showed an unprecedented 35% increase from the previous year. “This is an indication of a growing need for the ombudsman’s services in the sector, and  a […]

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Questions to ask about an overdraft facility

If you are considering applying for an overdraft, but aren’t really sure how it works, there are important questions you should ask your bank, to ensure you are making the right decision. Ryan Prozesky, FNB Consumer Core Banking CEO, says an overdraft is an important credit facility to help you manage your personal cash flow […]

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