Browsing: Mobile Banking

The EasyEquities investment portfolios integrate directly into Discovery Bank’s Vitality Money programme, automatically counting towards the client’s Vitality Money status.

On September 30, 2022, Discovery Bank announced several new products and changes at its annual product update event with financial advisors. However, the CEO Hylton Kallner said that the new features will be made available from October and through the first quarter of 2022 on a phased basis.

According to Business Tech, Discovery Bank clients can use the Discovery Bank app to transact and trade in real-time in these currencies. With the Multicurrency FX Account, clients can also receive international payments and choose to pay in more than 60 currencies, Kallner said.…

Customers can also buy airtime and access other mobile network operator services using their Visa or Mastercard debit and credit cards through Tingg, Cellulant’s digital payments platform.

Tingg by Cellulant is at the forefront of ensuring digital financial solutions are available across the continent. Tingg, which integrates 211 banks in Africa, is a one-stop payment aggregator for multinational corporations, mid-caps, and small and medium-sized enterprises (SMEs).

Tingg enables merchants to receive, view and reconcile all their payments through a single platform or their system by integrating Tingg’s Application Programming Interfaces (APIs), eliminating the need to subscribe to multiple providers’ payments and, in the case of mobile money, mobile network operators (MNOs) and banks.…

While digital lenders in Kenya have agreed that Kenyans indebted to more than one mobile lending application will no longer continue accessing loans from multiple lenders, the tables are turning.

In what could be a silent coup against these lenders, Kenyans feel that the tactics used by some of them to recover debt are overboard and breach barriers which should not be broken.

The Digital Lenders Association of Kenya’s (DLAK) desire is to have Credit Reference Bureaus (CRB) put in place a mechanism that will enable DLAK’s members to acquire a borrower’s credit history in real-time. The target is to lock out borrowers with poor credit scores if the proposal sails through.

Hostile treatment

However, while this has been done, borrowers feel that some of the lenders have been going overboard and even breaching privacy in their loan recovery mechanisms.

According to Ajua, an Integrated Customer experience company, Kenyans want …

Even as mobile penetration continue to grow, the East Africa region is still sluggish in technology innovations especially in the insurance sector.

The region is considered as Africa’s Silicon Savannah with a high mobile penetration, home grown digital financial innovations like M-PESA that is now being exported in other countries and a fast growing tech start –up ecosystem.

Statistics indicate that about $63.6 billion is transacted in aggregate in a single year on mobile money platforms in the East African Community (EAC) countries. This corresponds to 46 percent of the total GDP of the EAC in the most recent statistics.

Mobile is a key factor in the region’s start-up ecosystem where many tech start-ups now use the technology as the primary platform to create solutions that address various socioeconomic challenges.

According to the GSM Association, a trade body that represents the interests of mobile network operators globally, over half of …