Browsing: financial services.

Financial Services Firms negligent with clients risk reputational damage

Visa, for its part, has lodged an application seeking to dismiss the charges. In its defence, the payments platform company said that the people who posted the victims’ underage images and those who distributed and earned money from the material caused the alleged harm and not Visa, the Washington Post reports.

The company went on to argue that it had nothing to do with the operations of the websites run by Mind Geek which include adult entertainment websites where child sexual abuse videos have been featured. Since the news of child sexual abuse broke and the landmark ruling delivered by the California court, Visa has been at pains to distance itself from the lawsuit of which it is now a defendant. The company made a statement to the Washington Post where it condemned sex trafficking, exploitation, and child sexual abuse materials as “repugnant” to its values and purpose as a …

These figures place Africa among the world’s fastest-growing tech countries in terms of VC growth year over year. In Silicon Valley, these figures represent a day and a week. 

The potential that investors and founders are looking for is to bring substantial swathes of Africa’s unbanked population online. 

According to numerous estimates, including The Global Findex Database, Africa has the highest percentage of unbanked people in the world, as well as a considerable number of underbanked SMEs and consumers.…

Not to be mistaken the adverse impact of the times have been felt at Richemont with sales for the half-year ending 30 September 2020 decreasing significantly by 26 per cent to €5.48 billion against the previous year. This decline in sales resulted in a fall in operating profits of 61 per cent from €1.165 billion to €452 million.

Notwithstanding this slowdown in profits, the company was able to deliver a 78 per cent increase in sales from their China market which has now been overtaken by the Americas as the company’s largest market.…

The financial services space is being disrupted by new entrants that are nimble and more innovative. The overwhelming result of this has been the closure of bank branches right across the broad spectrum of the banking sector and across the country. 

Whenever a branch closes press space is taken up by the banks running adverts citing the growth and advent of mobile technology to be the cause of bank branch closures. To the passive reader it would then look as though technological advancements, growth, and adoption together with the prosperity of banks with respect to their branch networks are mutually exclusive.…

Subscribe to unlock this article

Login to read this article for free and get 3 free premium articles. Subscribe today for unlimited premium articles and more.

Digital Subscription – Monthly

Monthly renewing
You can cancel anytime.

$5 /Monthly

Digital Subscription – Annually

Monthly renewing
You can

Brokerage Kenyan firm EFG Hermes Kenya has launched its online equity-trading platform, EFG Hermes One. 

According to the company, the platform will see the Firm offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE). 

The online trading platform was launched during an event co-hosted by EFG Hermes Kenya and the NSE in the presence of Muathi Kilonzo, Head of Equities at EFG Hermes Kenya and Geoffrey Odundo, the NSE Chief Executive Officer.

EFG Hermes Frontier Chief Executive Officer Ali Khalpey said with capital market trends demonstrating ever-increasing interest from retail investors across the world, the company aims to increase access and awareness to capital markets to foster better equity trading across sub-Saharan Africa. 

Our expansion into the retail space is part of our commitment to growing our services in the African continent,” he said. 

We hope to replicate the success we have