Coenraad Jonker, the CEO and co-founder of fully digital TymeBank, says that the banking industry in South Africa is going through a shake-up, and more shifts are on the way as operations become increasingly digital.
Through the disruption of digital, the South African banking industry has been forced to rapidly digitize in line with consumer behaviour, with more customers preferring to conduct their banking online or through mobile apps rather than heading into a branch. However, more complex financial needs – such as home loans, vehicle financing, credit and investment services – are still more easily accessible through legacy banks.
Locally, Nedbank has been a big proponent of this shift and has for several years pushed for the sharing of data and APIs to create better products and services for customers.For example, TymeBank’s most recent partnership with The Foschini Group has allowed it to access a wider consumer base and use data from transactions and money behaviours to manage risk and benefit the customer.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: ANC Call for More Police Won't Solve South Africa's Crime CrisisAnalysis - The African National Congress' solutions to soaring crime are unclear and overlook the real problems facing policing.
Source: allafrica - 🏆 1. / 99 Read more »
South Africa: Consumers Facing Toughest Times Yet, Economist Warns - South African News Briefs - January 26, 2023Consumers Facing Toughest Times Yet, Economist Warns - South African News Briefs -... allafrica: SouthAfrica
Source: allafrica - 🏆 1. / 99 Read more »
U.S., China, Russian Officials on Charm Offensives in Africa?Top Chinese, Russian and American officials are scrambling to visit African nations and pledge their commitment to the world's fastest-growing continent, writes Anita Powell for VOA. Chinese new Foreign Minister, Qin Gang made his first international tour as the foreign minister to Africa. The visit was significant, it was symbolic in a way - it emphasized China's foreign policy priorities. U.S. Secretary of the Treasury Janet Yellen kicked started her visit in Senegal, then Zambia and South Africa. Her visit comes as President Joe Biden's administration aims to secure stronger ties with Africa. Barely six months after the Russian foreign minister's first African tour, two more trips are in the offing. Sergei Lavrov has visited South Africa at the start of a planned second African tour since Russia invaded Ukraine in February 2022. On his July 2022 trip, Lavrov visited Egypt, Congo-Brazzaville, Uganda, and Ethiopia, also meeting the African Union leadership in Addis Ababa. Unconfirmed reports said that Lavrov might visit Eritrea as the last stop of his African tour that started in South Africa and also took him to eSwatini. To call it a new 'scramble for Africa', as some like to do, is clearly hyperbolic. Nonetheless, it can't be denied that the Big Powers are energetically wooing Africa as relations among themselves deteriorate, reports Peter Fabricius for the Institute for Security Studies. However, African Union Commission chairperson Moussa Faki has said that "Africa refuses to be seen as an arena for influence struggles. We are open to cooperation and partnerships with everyone, as long as they respect our principles, our priorities, and our interests. The partnership we have with China is built on these principles." 👆🏾👇🏾
Source: allafrica - 🏆 1. / 99 Read more »
A guide to South Africa’s illegal tobacco trade after CovidBatsa says 200 of its workers will be out of a job soon, but public health researchers argue it is using misleading figures to back the retrenchments
Source: FinancialMail - 🏆 20. / 63 Read more »
Naspers, Prosus to slash 30% of jobs - including in South AfricaProsus and its parent Naspers are to cut their corporate workforce by 30%, becoming the latest global tech company to announce layoffs.
Source: TheSAnews - 🏆 25. / 59 Read more »
South Africa's power cuts leave fruit farmers in despairOn the cusp of harvesting this season's first fruit, South African deciduous farmer Heinie du Toit frets as the worst power cuts on record threaten to take the shine off his apple and pear crop destined for foreign markets. Too many electric vehicles crashing the grid? If not, wait for it. Once they get electric vehicles, they won't be able to charge them. Already happened in CA this summer. You spelled his name wrong................ Yikes neh.
Source: ReutersAfrica - 🏆 31. / 53 Read more »