Old Mutual granted approval to establish bank in South Africa
Old Mutual intends to integrate the bank into South Africa’s National Payments System following a testing period.
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Old Mutual intends to integrate the bank into South Africa’s National Payments System following a testing period.
Deel says it has also surpassed $500 million in annual recurring revenue since its inception in 2019.
Old Mutual will leverage 10x’s core banking tech to “serve those who have bank accounts but are severely underserved”.
The deal will see the London-based fintech open a local office in South Africa.
Aurel previously served as head of payments and cryptography at South Africa-based Synthesis Software Technologies.
Blackbullion will deploy Bud’s Assess solution and its open banking and transactional AI tech.
PayPal Ventures, CRE Venture Capital and The Raba Partnership also participated.
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
With the new investment, Peach Payments plans to expand across new markets in Africa.
With PayShap, consumers will have access to instant, real-time payments across participating banks.
Truzo says it will close its next round of funding in Q2 2023.
Thought Machine intends to hire across India, Japan and South Africa for the first time.
The national payment system forms part of South Africa’s Vision 2025 programme.
Lulalend will look to increase its loan book size and develop new products.
Surecomp’s tech will support Investec’s newly formed trade finance business.
Momentum went live with Duco’s platform as part of a wider data automation strategy.
The offloading of 63,072,652 shares will raise approximately £538 million, Barclays says.
The company says micro-investing is a good first step into the space, providing “investment on auto-pilot”.
Retail Capital will form the foundation of an expanded business banking offering within TymeBank.
Flutterwave will provide the infrastructure to enable SendSprint to process cross-border transactions.
Capitec is South Africa’s largest digital bank, with more than 10 million customers.
Apollo Fintech will deploy Sonar on its new bank-to-bank payments service Knox Wire.
Andrew Baker had a lengthy tech career at Barclays Africa and its successor, Absa.
Stitch will use the cash to expand its team, launch new products and enter new markets on the continent.
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
Tischendorf joins from 4Finance Group, where he served as CTO.
This is the latest in a number of distributed ledger innovations by the South Korean bank.
The paytech says cash will help deepen financial inclusion on the African continent.
The extension brings Chipper Cash’s total funding to date to over $305 million.
Bank says the pandemic has caused a shift to digital payments across Africa.
The firm is now targeting expansion across Africa and the Middle East.
Sandro Bucchianeri announced his departure from Absa at the start of the month.
The UK fintech is looking to accelerate its global expansion.
The South African bank renews a 30-year deal with the US tech giant.
Telkom Pay users can now use WhatsApp to pay any merchant that accepts Mastercard.
“We see this super-app as a precursor to M-Pesa’s evolution,” says CEO.
South African insurance processor finishes first phase migration of five systems.
South African bank aims to provide easy payments to small businesses.
“Emerging markets across Southeast Asia and Africa present fresh opportunities”.
Adumo helps businesses move from cash transactions to digital payments.