Bruce Whitfield: Machines promise a ‘golden age’ for banking – and that is very bad news for bank employees

2019-10-03 10:33

200,000 jobs will go in the US the next decade, replaced by Artificial Intelligence (AI) and machines - South Africa is next.

An astronaut may have committed the first space crime while aboard the International Space Station

2019-08-24 20:00

Summer Worden noticed her account had been accessed from a NASA computer before she concluded that it was her estranged spouse in space.

Zimbabwean banks plan to fight $100m Paynet lawsuit

2019-08-08 09:43

Zimbabwean banks intend to fight a $100m lawsuit brought by Cambria Africa's units in the country following a dispute over payments, court filings show.

FirstRand to lose 4 directors due to Reserve Bank directive

2019-07-02 17:54

FirstRand Bank is facing the retirement of four of its board members, but has managed to negotiate a reprieve for its chair, the group said on Tuesday.

Forex collusion case back in the spotlight at Competition Tribunal

2019-06-12 05:00

The matter dates back to 2017 when the Competition Commission referred a collusion case involving 17 banks to the Tribunal. Three domestic banks – Absa, Standard Bank and Investec were among those named.

Standard Bank’s former head office has been standing empty for years – as SA banks struggle with a building conundrum

2019-05-20 08:30

As banks close branches, they have to decide what to do with their old offices

Forex cartel case: Standard Chartered pleads guilty to manipulating rand, other currencies

2019-02-05 17:18

British multinational banking and financial services company, Standard Chartered, has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013.

Capitec beefs up fight to stop debit order fraud

2018-12-12 16:05

Capitec has lowered the minimum value that triggers an SMS notification for clients to be made aware of small debit orders from their accounts in an effort to fight unauthorised transactions.

Reserve Bank governor Kganyago wants more banks

2018-11-30 11:41

The SA Reserve Bank, having handed out the first three bank licenses in 11 years, is keen to see more entrants into the industry to drive down costs for consumers.

FNB targets SA townships with fintech deal

2018-11-27 22:27

First National Bank and a startup financial-technology company in South Africa are partnering to connect informal traders in townships with fast-moving consumer-goods companies.

 

Warning: Criminals are impersonating SA CEOs and other execs to steal money

2019-09-25 09:30

Criminals impersonate senior managers and send email requests to junior staff in the accounting or finance function requesting that an urgent payment be made to a specific beneficiary.

5 questions on the 'debt relief bill' unpacked

2019-08-17 10:02

The "Debt Relief Bill" allows low-income workers to extract themselves from debt through debt restructuring if they earn a gross income of R7 500 or less per month, have unsecured debt of R50 000, or have been found to be critically indebted.

Nigeria orders banks to loan more money

2019-07-04 16:47

In an effort to boost economic growth in Africa’s most-populous country, Nigeria is giving its banks a choice: lend more money, or hand it over to the central bank and earn nothing on it.

Commission ordered to revise its forex price-fixing case against 23 banks

2019-06-12 13:48

The matter dates back to February 2017, when the commission referred a forex collusion case initially involving 17 banks to the tribunal for adjudication.

Competition Commission recommends go-ahead for Absa, Société Générale deal

2019-05-31 11:10

The Competition Commission has recommended to the Competition Tribunal that it give the green light to a proposed merger that will see Absa acquiring target assets from Société Générale.

After cutting 802 000 jobs, some big banks are now adding staff

2019-04-03 22:05

Hundreds of thousands of jobs have disappeared on Wall Street since the 2008 financial crisis and some of the biggest banks haven’t stopped cutting. Still, some firms managed to reverse the trend and are slowly boosting staff levels.

Banks stuck with $1.6bn of unsold loans amid market rout

2018-12-22 15:23

A rout in the once-hot market for risky corporate loans has some of Wall Street’s largest banks stuck with at least $1.6bn of unwanted leveraged buyout debt.

The Reserve Bank reckons a bitcoin-style rand may be coming – and wants to cut non-banks into everyday shopping

2018-12-06 12:26

The law at the heart of South Africa's national payment system needs an update, the Reserve Bank says, and its proposal on how to do that foreshadows a fully digital national currency – and the end of banks' oligopoly on low-value retail transactions.

Brexit could see R12.4 trillion of assets siphoned from the City of London to Frankfurt

2018-11-29 16:49

While Theresa May tries to get her Brexit deal over the line, banks have already packed their bags and started moving to Frankfurt.

Absa's retail strategy takes shape to knock threat of new banks

2018-11-23 07:06

As the fight for dominance of South Africa’s retail-banking segment hots up, Absa is considering a change in tactics to boost revenue.

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