Latest Intelligence on Financial Services in South Africa

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Type Product title / description Pub Price
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Absolute Systems offers a payment switch for deposits in South Africa

Absolute Systems, a South African ATM software developer, has launched Imali, a payment switch for secure deposits, consisting of a switch and a strongbox for use in secure environments to which small retailers have access. The attractions of the Imali service are security, since the cash becomes the responsibility of the bank once it is in the strongbox, and also its real-time capability.

Published By Datamonitor
31 Jul 2008
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AMP: selling the leaking boat before it floats?

Old Mutual [OML.L] is reportedly lining up a GBP1.5 billion bid that could put AMP's plans to float its northern hemisphere business on hold. Old Mutual's expansion outside of South Africa is in stark contrast to AMP's retrenchment to its home markets. Indeed, the weakened AMP group might even attract bids for more than just its UK operations.

Published By Datamonitor
23 Jul 2003
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FNB sees value in making P2P payments sociable

First National Bank's (FNB's) move to facilitate money transfers via an instant messaging service is a strategic endeavor to enhance its product offering by capitalizing on the rising popularity of mobile instant messaging services.

Published By Datamonitor
09 Sep 2013
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FNB uses e-wallet as bait for new customers

First National Bank in South Africa has opened its mobile banking-linked e-wallet service to non-customers. The tactic will allow FNB to gain further exposure by targeting a desirable consumer segment, while potentially luring customers away from competitors.

Published By Datamonitor
08 Mar 2013
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HNW offshore investment: it's not just about tax

Tax efficiency and the availability of better investment options overseas are the top two drivers of HNW offshore investment globally. With growing regulatory pressure on offshore centers, the appeal of investing offshore for tax purposes alone is set to become increasingly limited. Wealth managers need to understand other key drivers for offshore investment and target their offerings accordingly.

Published By Datamonitor
06 Dec 2012
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Investec launches app for South African clients

Investec's new iPad app for HNW clients in South Africa should get a warm reception. Datamonitor's 2012 Global Wealth Managers Survey shows that South African HNW clients demand regular reporting on their asset performance, with the majority interacting with their wealth manager's website at least once a week. The next key step is to make it available across more mobile platforms.

Published By Datamonitor
18 Apr 2013
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Investment choice drives South Africans offshore

According to Datamonitor's 2012 Global Wealth Managers Survey, HNW individuals offshore wealth because of better investment options available overseas. The UK is the primary booking center for offshore wealth. This is not surprising considering the diverse range of products and services available in advanced financial centers such as London.

Published By Datamonitor
26 Apr 2013
CommentWire
CommentWire

Man Group: seeking diversification in derivatives

Man Group's purchase of leading derivatives broker GNI from Old Mutual will create the world's largest independent futures broker. Man Group has profited well from the growth in hedge funds to become a giant in this sector, but as demand for such alternative investment is weakening, diversifying away from its core business looks like a strong plan.

Published By Datamonitor
22 Oct 2002
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Middle East and Africa wealth markets are dwarfed by Europe or Asia but will grow three times faster

Global oil demand was one of the biggest wealth drivers in the GCC, especially in the more oil-dependent countries of Bahrain and Saudi Arabia where the hydrocarbon industry accounts for the vast majority of GDP. South Africa's wealth market, on the other hand, is driven by manufacturing and services, and therefore the region's future growth is tied to the performance of the world's economies.

Published By Datamonitor
31 Jan 2012
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Mobile banking boom expected in Nigeria

A number of recent announcements suggest that Nigeria is set for a mobile banking boom, with several banks looking to secure a share of previously unbanked or underbanked consumers. The latest announcements from First Bank and Standard Chartered suggest that the popularity of mobile banking in Africa is spreading beyond Kenya.

Published By Datamonitor
21 Feb 2012

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