banking

  1. Luis

    Absa shut down 3,559 ATMs and cash devices in the last six years

    Major bank closed branches and thousands of ATMs in South Africa From 30 June 2021 to 30 June 2026, Absa shut down 3,559 ATMs and cash devices, decreasing its physical footprint regarding these machines by 41%. During the same period, the bank shrank its outlet footprint, including branches...
  3. Luis

    Absa's total IT spend increased to R8.8 billion

    Absa IT spend is 28% of all operating costs Absa has published its interim results for the six months ended 30 June 2026, which showed that its total IT spend increased 7% to R8.8 billion, or 28% of group expenses. The bank explained that the total included direct costs relating to information...
  4. Luis

    Standard Bank breaks trend, starts opening new branches and ATMs in South Africa

    Biggest bank in South Africa opening branches and launching ATMs Standard Bank, South Africa's largest bank by assets, which reached R3.8 trillion as of 30 June 2026, has broken its year-long trend of closing bank branches and ATMs. The bank has opened 25 new branches and launched 48 new ATMs...
    • Luis
    • Thread
    • atms bank branches banking standard bank standard bank group
    • Replies: 5
    • Forum: Broadband and IT News
  5. Luis

    Standard Bank's total group technology function spend reached R11.83 billion as of June 2026

    Standard Bank spent R11.8 billion on technology operating expenses in 6 months Standard Bank has published its interim results for the six months ended 30 June 2026, which showed that the group's total technology function spend reached R11.83 billion. This was a modest 2% increase compared to...
    • Luis
    • Thread
    • banking standard bank standard bank group tech investments technology spend
    • Replies: 1
    • Forum: Broadband and IT News
  6. Luis

    Nedbank closed 345 ATMs in South Africa over the past six years

    Major bank shuts down ATMs and closes branches in South Africa Nedbank has reduced its ATM footprint in South Africa by 345 devices over the past six years and has continued to reduce the number of cash-accepting ATMs since 2024. The bank, headquartered in Sandton, has continued "rightsizing"...
  7. imprisonedmind

    Built a private spending tracker for Capitec, FNB and Discovery Bank. Looking for honest feedback

    I started building this because I was frustrated with how difficult it was to get a proper view of where my money was going. The banking apps give you some spending insights, but once your spending is spread across multiple accounts or different banks, it becomes difficult to see the full...
  8. Luis

    Absa rolls out first branches that support smart ID applications

    Good news for Absa customers who need a smart ID The Department of Home Affairs (DHA) has announced the launch of Absa’s first branches supporting smart ID card applications under the new digital partnership model. Absa has enabled walk-in smart ID card applications at 12 of its branches and...
    • Luis
    • Thread
    • absa banking department of home affairs smart id cards smart ids
    • Replies: 4
    • Forum: Broadband and IT News
  9. Luis

    Capitec growth is outpacing its biggest rivals — David Shapiro

    Capitec growth is outpacing its biggest rivals — David Shapiro Legendary South African stockbroker and chief global equity strategist at Otto1890, David Shapiro, has said that Capitec is growing significantly faster than its legacy bank rivals. Speaking to BusinessDay TV, Shapiro selected...
  10. Luis

    New iPhone deals for Capitec customers

    New iPhone deals for Capitec customers Capitec Connect's new device sales division has recently cut the price of its Apple iPhone 16e from R11,999 to R9,499. The mobile virtual network operator (MVNO) has seen substantial growth since launching in 2022, surpassing much older MVNOs in customer...
  11. Hanno Labuschagne

    South Africans must stop using their social media passwords for bank accounts — Armata Security

    South Africans must stop using their social media passwords for bank accounts — Armata Security Armata Cyber Security head of technology and innovation Richard Frost has warned that many South Africans are using the same passwords for social media and banking, putting their bank accounts at...
    • Hanno Labuschagne
    • Thread
    • armata cyber security banking banking security facebook hackers hacking instagram meta platforms phishing richard frost social media
    • Replies: 10
    • Forum: Broadband and IT News
  12. Luis

    Capitec working on further reducing prices for clients

    Capitec working on further reducing prices for clients Capitec CEO Graham Lee said the bank is working to further reduce fees, improve quality of service, and provide customers with more products that meet their needs. Speaking to EasyEquities chief enablement officer Carel Nolte during a...
  13. Luis

    Big banks in South Africa automating to cut costs

    Big banks in South Africa automating to cut costs South Africa's largest banks are aggressively adopting automation across their internal processes and systems to increase efficiency and reduce cost pressures. That is according to Akash Anand, regional head for Middle East and Africa at...
  14. Luis

    Standard Bank adds 50 new smart ID branches

    Standard Bank adds 50 new smart ID branches Standard Bank said customers spent less than eight minutes on average completing their smart ID applications in branches offering the service. The statistic came with the bank’s announcement that it had added 50 new bank-assisted smart ID processing...
    • Luis
    • Thread
    • banking department of home affairs smart id smart id branches standard bank
    • Replies: 2
    • Forum: Broadband and IT News
  15. Luis

    SARB to open the national payment system for non-banking entities

    SARB to open the national payment system for non-banking entities Several of South Africa's incumbent banks are optimistic about the incoming participation of non-banking entities in the country's payments system. The South African Reserve Bank (SARB) is planning to open the National Payment...
  16. Luis

    Mastercard announces technology rollouts aimed at expanding South African presence

    Mastercard announces technology rollouts aimed at expanding South African presence Mastercard is expanding its presence in South Africa and has recently announced several agreements and technology rollouts to achieve this. Most recently, Mastercard has signed a 10-year deal with Nedbank that...
  17. Luis

    Standard Bank users report outage of Internet banking services and mobile app

    Standard Bank users report outage of Internet banking services and mobile app Standard Bank is struggling with limited functionality on its mobile banking app, with users on social media reporting being unable to log in. The issues arise on payday for millions of South Africans. The mobile...
    • Luis
    • Thread
    • banking internet banking mobile app mobile apps standard bank standard bank mobile app
    • Replies: 19
    • Forum: Broadband and IT News
  18. S_HolmesZA

    ABSA Fraud Case

    Hi everyone, I’m hoping someone here can offer guidance or share advice. On 20 March 2026, I reported a fraud case with ABSA (Reference: 16326448). I followed all their instructions and submitted everything requested, including a stamped affidavit and SAPS case number. However, I haven’t...
  19. Hanno Labuschagne

    South Africans are using AI to craft banking and insurance complaints

    South Africans are using AI to craft banking and insurance complaints The National Financial Ombuds Scheme is becoming frustrated with South Africans using artificial intelligence (AI) to generate complaints, some of which run up to 200 pages and cite false information. Speaking to 702, CEO at...
    • Hanno Labuschagne
    • Thread
    • 702 artificial intelligence artificial intelligence (ai) banking insurance national financial ombuds scheme reanna steyn
    • Replies: 20
    • Forum: Broadband and IT News
  20. Hanno Labuschagne

    Debit order change from April 2026

    Debit order change from April 2026 The South African Reserve Bank and the Financial Sector Conduct Authority have confirmed that, effective 13 April 2026, the dispute windows for all debit order instruments will be standardised at 60 days. “This will simplify disputability, especially for...
  21. Hanno Labuschagne

    FNB eBucks change backlash

    FNB eBucks change backlash FNB's decision to amend eBucks earning rules a mere four months after its annual rule changes has left customers fuming, with many threatening to leave the bank. The bank recently announced an unusual change in eBucks levelling criteria that will take effect in...
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