WIZZIT receives global accreditation for their payment authentication product

Banks are losing billions of dollars a year to the exponential increase in payment fraud. The reputational risk for banks could be crippling. Everyone is impacted, from wealthy consumers in developed economies to the bottom of the pyramid consumers in emerging markets. In Europe to combat this trend, the launch of PSD2 in September is […]

SABRIC release of annual banking fraud statistics.

The annual crime statistics for banking fraud 2018 in South Africa has been released by the South African Banking Risk Information Centre (SABRIC) and banking fraud is very much on the rise. SABRIC is concerned about the increase in phishing and banking fraud. SABRIC CEO, Kalyani Pillay says, “We are concerned about some of the […]

Biometric Authentication – The next wave in Verification

Biometric authentication is a security system that uses your unique biological characteristics to verify your identity. It can be a photo of your face, a record of your voice, or an image of your fingerprint. This information is then stored in a database that allows you access to the designated digital system or resource. We […]

PSD2 and the future of banking – what the rest of the world can learn

PSD2 the second Payment Services Directive has been designed by the European Union to revolutionise the payments industry, changing the way we make payments online and the information we see when making these payments. The new requirements will need significant investments from the banking industry and although some banks are not happy about this change […]

Why are banks slow to implement Chatbanking?

Chatbanking is the future. It allows you to make transactions from your favourite messenger app. It is hassle-free and secure. So why are banks not reacting quickly in implementing this great solution? Banks may be hesitant in implementing chatbanking because they have invested millions into their banking apps and they would like to see a […]

Zimbabwe is the most advanced economy in the world when it comes to digital payments?

This statement has led to raised eyebrows and quizzical expressions. Find out why… Since the collapse of the Zimbabwean currency due to hyperinflation in 2008, Zimbabweans were forced to adopt a multi-currency system moving them into the digital space of doing transactions. Following yesterday’s announcement, it would appear that they are reverting to a single […]