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SIBOS 2016 - Geneva, Switzerland

Sibos brings together influential leaders from financial ...

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North Africa Future Banking Forum

North Africa Future Banking Forum 2016, will address ...

NEWS

EOH boss pledges continuity

EOH’s new CEO, Zunaid Mayet, has assured investors it will be business as usual with no immediate plans to change the group’s strategy that has made it one of the best-performing technology stocks.

Mayet replaced EOH founder Asher Bohbot, who stepped down at the end of June.

The announcement of his departure, especially the short notice period, sent shock waves through the market and resulted in a significant drop in the share price. However, Bohbot will rejoin the company in 2018 as a nonexecutive director.

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ABC Bank’s new clearing system provides instant account alerts

ABC Bank has launched fully automated clearing system that will speed up cheque processing significantly for customers, hence hastening payments and improving business efficiency.

Sybrin is a flexible and more robust solution for high-speed documentation imaging and transaction processing and will enable the bank to provide its customers with instant account transaction updates, a departure from the past where customer accounts would be credited the following day after the transactions. It eliminates a bulk of manual processes associated with older clearing systems.

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Sybrin and Tieto partner to bring payment solutions to Africa

Sybrin and Tieto, a leading software and services provider in the Nordics, have joined forces to provide transaction switching and card management solutions to complement Sybrin’s strong offering in cheque and EFT processing. This partnership will enable both companies to start the journey towards the realisation of omni-channel payment solutions, retail payment and card solutions, and national payment systems.

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Barclays Botswana Live with Paperless: September 2014

As part of the Barclays Africa’s Paperless roll-out, Barclays Botswana went live in September 2014 with Sybrin’s solution. This further expands the reach of our innovative Paperless Solution, which has already been successfully implemented in other Barclays countries, including Tanzania. The solution is already paying dividends by helping Barclays cut down on paper costs, improve security, and speed up transaction processing significantly.

Barclays and BancABC Botswana Live with T+1/Tuncation: 6 February 2015

On the 6th of February 2015 both Barclays and BancABC went live with T+1 and Truncation, with regards to cheque payments, as part of a country-wide roll out by the Botswana Interbank Settlement System. Sybrin has played a major role in achieving this milestone with our Cheque Solution and Clearing House Interface playing host to the new truncation system, and ensuring that cheque payments continue to be used uninterrupted, whilst adhering to the Bank of Botswana's Truncation policies.

NBC Tanzania Paperless Phase 2 and t+1/Truncation Live in April 2015

NBC Tanzania, in keeping with their motto of convenience, successfully rolled out the second phase of their Paperless Solution as well as switched over to their new cheque truncation system in April 2015. Sybrin's state-of-the art Paperless Front Office system, as well as our Cheque Truncation solution, are the driving force behind these systems, which have been previously received extremely well by our clients in other countries. The Paperless initiative can help cut down the costs associated with serving customers greatly and can also reduce transaction turnaround times.

Barclays continues their Paperless banking roll-out in 2015

Barclays Kenya and Barclays Ghana are gearing up for the official launch of Sybrin’s Paperless Front Office solutions in April and June 2015 respectively. The launch forms part of Barclays’ paperless strategy which involves simplifying their retail banking operations by improving the experience of customers transacting at the branch. On average Paperless Front Office solutions can allow customers to complete their teller banking transactions in less than three minutes with no manually filled-in slips required for cash and cheque deposits, cash withdrawals, and encashments.

Remote Account Opening (RAO)

Barclays Kenya and Barclays Ghana are gearing up for the official launch of Sybrin’s Paperless Front Office solutions in April and June 2015 respectively. The launch forms part of Barclays’ paperless strategy which involves simplifying their retail banking operations by improving the experience of customers transacting at the branch. On average Paperless Front Office solutions can allow customers to complete their teller banking transactions in less than three minutes with no manually filled-in slips required for cash and cheque deposits, cash withdrawals, and encashments.

INDUSTRY NEWS

How Does Android Pay Differ from Apple Pay and Samsung Pay?

Global internet giant Google recently announced Android Pay at its I/O conference. A set of API’s were released which will allow app developers to add an Android Pay button to future apps, which will facilitate in-app and in-store purchases for devices using Android KitKat 4.4 and above.

The potential market is already sizable as 70% of android devices in use today are NFC capable and at least 50% are capable of running KitKat 4.4. Google’s open approach differs greatly to that of Apple who still closely guard all integrated hardware and software components. Samsung Pay follows similar lines but does however offer host card emulation unlike Apple Pay.

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Retail banks face extinction in digital world - Oracle research

A recent report by Oracle could forecast a grim future for conventional retail banks as they exist today. According to the report at least three quarters of retail banks do not possess suitable technology to move into a digital world, leaving them at risk from younger competitors less burdened by legacy systems. More than 100 banking executives from retail banks all over the world were questioned by Oracle. Convincingly 94% agreed that having a digitized omni-channel customer engagement strategy is important for future success. As many as one third of those questioned agreed that the future success of organizations such as theirs was entirely dependent on such strategies.

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Continent's Top Bankers Celebrated

The prestigious African Banker Awards, now in its ninth year, played host to Africa's leading banking firms in Abidjan, Cote d'Ivoire on the 27th of May. Over 500 dignitaries attended, amongst them Ministers of Finance, Central Bank Governors, and CEO's of some of Africa's largest banks. Groupe Banque Populaire from Morocco took the evening's top honors as African Bank of the Year. Ghana's Albert Essien, CEO of Ecobank, won the award for African Banker of the Year. Ivorian, and newly appointed CEO of Credit Suisse, Tidjane Thiam took home the African Banker Icon award while the Lifetime Achievement award went to Nigerian Jim Ovia who presides as Chairman of Zenith Bank.

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KBA - Reduced Card Skimming Due to Adoption of EMV Technology

One year on from the Kenyan Bankers Association's (KBA) implementation of the EMV compliance standard the added security of a Chip and PIN card appears to have been successful. No card skimming incidents have so far been reported to the KBA. KBA reports that the exercise has been effective in comprehensively addressing card skimming fraud and will encourage card usage within Kenya. Since inception member banks have recorded a 20.9% increase in the number of ATM and debit cards in circulation.

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