Banking

Africa’s banking industry focuses on client centricity in the wake of technological advances and new entrants

The banking landscape keeps changing as the industry faces new opportunities and threats. The emergence of Fintech entrants and the risk of cyberattacks add to pre-existing challenges caused by slow global economic growth, high political risk and complex regulatory requirements, according to a survey issued by PwC today.

UK consumers remain sceptical about the benefits of digital-only banks, says Verdict Financial

New digital-only banks seeking to break into the UK market will find the acquisition of customers a slow and challenging process, as consumers remain unconvinced that pure digital banks offer significant benefits over traditional rivals, according to financial services research and insight firm Verdict Financial.

Lack of trust and nontraditional offerings erode bank relevance

Beware those on-demand guarantees

It is South African market practice in the context of financing transactions that when a party is required to provide a guarantee in respect of another party’s (the Debtor) obligations to a creditor (the Creditor) that such guarantee is treated like a call or on-demand guarantee. Until now, not much thought has been given as to whether such a guarantee can be treated as anything other than just that – an on-demand guarantee.