With the festive season fast approaching, criminals are also gearing up for a shopping spree of a different sort. With this in mind, Standard Bank is urging people to be extra vigilant.
Over the last year, FNB said it assisted with facilitating the delivery of over 2 200 Krugerrands on its trading platforms.
The banking sector faces a significant challenge in embracing digital transformation.
Steyn recognised those banks and their staff that had delivered excellent service and performance.
There were 19 million underbanked individuals in the country, and over one million micro, small, and medium-sized enterprises still transacting exclusively in cash.
According to media reports mutual societies are enjoying a renaissance in the financial services sector in some parts of the world.
The world’s central banks understand that the future of money is digital. As payments shift online, the use of cash declines and the fortunes of crypto assets rise and fall, central bankers realise that their ability to command the use of money in their economies could weaken and that the financial exclusion of un- and underbanked citizens could be cemented.
A South African Banking Consumer study, released recently by Accenture, revealed that four major developments in banking are driving the reinvention of the industry’s business and operating models: ubiquitous technology, interest rate spikes, new competition from non-banks and the imperative to meet shifting consumer preferences based on the new realities of customers’ everyday lives.