Africa’s banking security in Africa is reaching a tipping point for growing cybercrime risk

banking security

Africa’s relative lack of infrastructure is both a blessing and a curse for banks. While access to traditional services is still a challenge, innovation in technology can offer big opportunities. Mobile has become the de facto means of banking in many parts of Africa and, as mobile penetration – particularly smartphone penetration – increases, this is allowing banks to connect with more of the population than ever before, and to do so in a more targeted, personal way. A study looking at trends in banking in sub-Saharan Africa, released in…

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Disrupting mobile banking in Kenya; Equity Bank joins the list

EQUITY Bank, whose micro-loans offerings have helped increase the number of Kenyans using formal financial services, is looking to break into Kenya’s booming mobile telecoms market. The bank says it will use the Mobile Virtual Network Operator licence it was granted in April to make financial services even more accessible and affordable. Kenyans transacted more than US$20 billion through their mobile phones in 2013, and Kenya leads the world in its adoption of mobile payments. Equity is looking to tap into this booming market by employing innovative Taiwanese-made ultra-slim “subscriber…

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