Johannesburg, 28 Sep 2022
Seven local organisations have been acknowledged for their outstanding contributions in the field of banking and financial services at this year’s Africa Bank 4.0 Awards, indicative of the immense skill and innovation within the local industry.
The 2022 Honorary Awards Celebration, which formed part of the 9 Africa Bank 4.0 Summit SADC Region, presented by Network International, honours the pioneers that have gone the extra mile towards transforming the banking and financial services industry in Africa, as well as those that have consistently demonstrated exemplary performance.
“Those recognised this year are prime examples of the deep intellectual capital within our industry. We are consistently innovating ahead of the curve and are producing new products and services that are setting the benchmark for global firms,” says Chris Wood, Regional Managing Director, Southern Africa and PALOPS at Network International. “It remains an incredible honour to be part of an industry which strives to find new and better ways to ensure better financial inclusion and a regulator and industry bodies which stand behind that goal.”
The South African organisations recognised for their work were:
TymeBank: Innovative Merchant Services
Nedbank: Outstanding Contribution in Commercial Payment Products
Standard Bank: Outstanding Acquirer across Africa
Payments Association of South Africa (PASA):Outstanding Initiative in Payment Security and Anti-Fraud Development
Vodacom Financial Services: Exciting Newcomer in the South African Market
Vodacom Financial Services offers businesses and consumers an ecosystem of convenient digital insurance, lending and payment solutions that are specifically designed to be flexible, affordable and accessible.
“We are so honoured to have been recognised for the hard work that we are doing in the fintech industry to make financial inclusion a reality. We are building a digital first society, where the future of fintech forces us to drive innovation through technology. This is why we continue to focus on advancing digital, data-driven solutions that can consistently expand our understanding of customer needs and create propositions where decisions are not simply based on price, but rather on the benefits of personalised products and services. The launch of the VodaPay super app builds both sides of the financial ecosystem, connecting trusted businesses with consumers,” said Mariam Cassim, CEO Vodacom Financial Services.
Access Bank South Africa: Outstanding Contribution to Alliance Banking
Access Bank was recognised as a most promising retail bank that has advanced its merchant network across the SADC region. Access Bank was also acknowledged for its open, inclusive ecosystem where banks can easily partner with fintechs, telcos, governments and corporates to offer unique, bespoke offerings to serve the needs of the various communities in South Africa. Its sister bank in Botswana was also recognised as Outstanding New Acquiring Bank.
Meagan Rabe, Executive Head of Retail & Alliance Banking for Access Bank South Africa, added context to the award, saying: “Access Bank sets itself apart by our commitment to collaboration. This is evidenced by our dedicated Alliance Banking team, fintech friendly API-ready systems and a well governed regulatory framework, designed to accommodate working with partners. We view working with nimble fintechs as a means to ensure our customers can always have access to the best innovation, unencumbered by the pace of traditional banks.”
Capitec Bank: Outstanding Disruption in Financial Services
Capitec was recognised for how it has changed how customers in the SADC region were able to bank.
Graham Lee, Group Executive: Retail Bank at Capitec, said: “Our brand has always been about helping our clients simplify their banking, saving them both time and money, so that they can live better. We’ve further bolstered our digital offering over the last year which continues to attract an even wider range of clients across various income groups.”
Lee went on to share that the Capitec team is currently working on a rapid payments project via cloud-specific technology, saying this would be a new industry solution for immediate payments in South Africa.
“We are South Africa’s biggest bank with the most banking and digital clients, which we believe is an indication that our offering resonates with South Africans from all walks of life. There’s a high demand for our digital offering; people are seeking simple, smart solutions to help them live better. Our payment solutions expand our portfolio of innovative offerings to empower our clients to invest in safer, more convenient alternatives to cash. We expect a burst of innovation in the frictionless space. That’s certainly our ongoing focus as the bank for all South Africans.”
According to Wood, Network International sees their involvement in the annual event and awards as a means to help the industry continuously improve.
“These awards set a benchmark, which serves to inspire other organisations and start-ups to attain their own goals. Through continued collaboration we can ensure that we create a banking and payments ecosystem that is robust and able to rapidly innovate. This industry holds the key to future growth and investment across the SADC region and acknowledging excellence serves as inspiration for further advances.”
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