Telecoms operator Safaricom has appointed KCB Group as a trust account holder for its mobile financial service M-Pesa in a deal which will see the lender benefit from a pool of cheaper deposits. KCB, which already partners with Safaricom through the popular mobile savings and loans platform KCB-M-Pesa, becomes the second trust account after CBA Group.
An African record has been set for the FICA process which used to take anywhere from two days to two weeks. It is now completed within three minutes thanks to an innovative South African’s fintech startup, ThisIsMe.
Over the next three years, 68% of treasury professionals believe their role will become increasingly important to their businesses. Advances in technology are allowing corporate treasuries to become a stronger strategic partner to the rest of the company, according to a recent survey of treasury professionals.
Standard Chartered API Portal provides free access to Standard Chartered APIs for modern FinTech web and native app development. Choose from APIs for Personal Banking and APIs for Corporate Banking.
A total of 57 African fintech startups raised over US$92 million in funding between the beginning of 2015 and end of May 2017, with the amount of investment coming into the space expected to rise exponentially in the coming years.
SWIFT has announced news that 22 global banks recently joined its blockchain proof of concept initiative, which is part of the company’s global payments innovation (gpi) service aimed to “re-arm the correspondent banking system for a new age of technological disruption.”
South African fintech startup, Yoco has, in just over two years managed to offer a large number of businesses access to card payment facilities and their trading history online. The company’s aim is to expand access to card payments to all types of SMEs, regardless of size, industry and even location. They offer mobile card readers that can be used to accept payments both at the store and on the go, with an application process that takes a few minutes online.
South African FinTech firms are expanding into the rest of the African continent as it offers growth opportunities. Here are the top 10 South African FinTech companies, in no particular order, we think you should keep an eye on.
“Digital corporate banking is at the core of our transaction banking strategy and the way in which we will further strengthen our institutional banking franchise,” said John Laurens, DBS’ head of global transaction services.