Tag: online banking

Flashy Artificial Intelligence (AI) applications like generative art and self-driving cars dominate headlines. Still, AI and Machine Learning (ML) play a quiet background role in our daily lives. Nowhere is AI’s growing influence more apparent than in financial services. AI systems are increasingly protecting both the financial system and its customers.

In Kenya's competitive banking and finance sector, converting customer interactions into successful transactions is critical. Financial institutions aim to distinguish themselves through this strategy. With the country’s rapidly expanding mobile penetration, there is a need for innovative communication strategies.

Losing a loved one is hard. It’s even more difficult to deal with such a loss in the face of long and complicated estate administration processes. It can become emotionally and financially taxing. In South Africa, it is not uncommon for a deceased estate to take two to five years to finalise.

For those who have just won the Lotto – or in a more likely scenario – are exceptionally good at saving - choosing to buy a home in cash can have its advantages. However, this option also means forgoing tax benefits, and tying up a substantial amount of hard cash in a fixed asset for a long period of time.

As Small and Medium Enterprises (SMEs) increasingly migrate to digital channels, fraudsters have taken advantage of the opportunity to revive the old Advanced Fee Fraud (419 scam), duping businesses to make upfront payments for good and services, without the intention to deliver, or pay sums of monies, in advance, to facilitate the payment of loans or promised funds. 

This article present some thoughts on how mobile money, cross-border payments and ‘buy now, pay later’ are transforming the financial sector, particularly in emerging markets, for the better. Last year saw an unprecedented rate of change in the financial sector, with huge growth in the use of digital financial services.

The way customers are engaging in today's new digital world has changed and is still evolving rapidly. We use technology to open bank accounts, work online and buy products. Technologies empower people to behave differently, which has led to digital disruption and a much more empowered consumer.

In an environment where everything is changing - the way we work, travel, meet and shop - the world of credit is adapting quickly. The pandemic isn’t the sole cause of this, as fintechs have been upending traditional banking models for years. Here’s what we see for next year.

Introducing a new approach to SME lending – a revolutionary short-term loan that links repayment terms to daily business revenue. When it comes to running a business in today’s disruptive and unpredictable environment, it’s never been more important for entrepreneurs to read the signs and respond accordingly, by adapting their strategies with out-of-the-box thinking and lightning-fast execution.

When South Africa entered into a hard and extended national lockdown on 27 March 2020, banks responded rapidly and empathetically to their account holders' financial crisis. According to the Banking Association of South Africa (BASA), as at 24 October 2020, banks had provided over R50 billion in financial relief – R33,61 billion in payment breaks on credit agreements and R16,71 billion under the loan guarantee scheme – to South African businesses and individuals.