AfricaRSS

DFCU in $20m upgrade of Infosys’ Finacle core banking system

DFCU Bank

Uganda-based DFCU Bank is also upgrading its core banking software to the tune of $20 million. DFCU is moving from version 7 of its Infosys’ Finacle core banking platform to version 10.

Skye Bank revamps omnichannel banking with Oracle FSS

Nigeria

Nigeria-based Skye Bank has launched a new digital banking platform, SkyeXperience, built on the Oracle FSS tech. The bank plans to enrol over two million clients on the new solution by the end of next year.

Faisal Islamic Bank signs for Path Solutions’ iMAL core banking system

Faisal Islamic Bank in core banking tech overhaul

Sudan-based Faisal Islamic Bank is modernising its core banking software with Path Solution’s iMAL. Path’s competitor for the deal was ICS Financial Systems (ICSFS) with its ICS Banks offering.

Haggai Mortgage Bank live with Finedge core banking system

Great reason to celebrate!

Nigeria-based Haggai Mortgage Bank has gone live with new core banking software, Finedge. The system is supplied by local tech company CWG.

Failed bank in Uganda spent millions of dollars on non-existing tech

Crane Bank

Crane Bank, a failed bank in Uganda, spent millions of dollars on IT services and software that was never supplied, according to a report by PricewaterhouseCoopers (PwC) into the bank’s mismanagement.

Barclays Africa looks for innovation heads-up with nine start-ups

De-risking in Africa

Barclays Africa will collaborate with nine firms to explore new technology-based solutions to improve its banking services. The nifty nine are not just fintech but include Abe.ai and Kapitalwise from the US; FOMO Group and Byte Money from South Africa; and FlexPay, Spatialedge, Sun Exchange and Avenews-GT. Details below if you want the full show. […]

Absa gets real with virtual investor launch

Absa

South African heavyweight Absa Bank has unveiled its own artificial intelligence (AI)-powered online investment platform, Virtual Investor. The self-service platform uses AI and computer algorithms to recommend a product for customers based on their financial attitudes to risk. Armien Tyer, head of Absa Investments, says: “Individuals can either invest a once-off lump sum amount or […]

Abu Dhabi and Kenya form fintech bridge

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and the Capital Markets Authority (CMA) Kenya have signed a co-operation agreement for fintech innovation. The agreement provides a framework for information sharing; and keeping abreast of regulatory and relevant economic or commercial developments in the respective markets. They will also support fintech […]

New core banking system for Nigeria’s microfinance banks

Nigeria

Inlaks, a banking software provider in Nigeria and West Africa, has built a core banking solution together with the Central Bank of Nigeria (CBN) for the country’s microfinance sector.

Absa targets African millennials with Hello Soda partnership

Absa

Absa Bank, a subsidiary of Barclays Africa, has partnered with multilingual text analytics and big data firm, Hello Soda, as it looks to tap into the millennial market. The bank says it wants to make sense of unstructured social data to better understand its consumer base. According to Absa, Hello Soda provides new ways for […]

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