Is The Banking Industry Prepared for a World Without Bankers?

This headline in the Financial Brand caught my attention along with a comment on Chris Skinner’s Blog that Banks as we know them, have a lifespan of around 5 years. Similar themes from different angles – the first saying that the move to digitalisation will do away with thousands of jobs in the banking industry […]

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 […]