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BankservAfrica
BankservAfrica is an automated clearing house located in Johannesburg, South Africa and operates both nationally and within Africa. Annually processing billions of transactions valued at trillions of South African rand; BankservAfrica's clients include banks, corporates, government and the retail sector. By volume of transactions alone, it is rated as Africaʼs largest automated payments clearing house. History Prior to the establishment of BankservAfrica, the South African banking industry owned several companies that provided shared services to the industry in a number of different payment channels. As these companies operated in silos, a need was identified for a single structure and an interbank task group was appointed to investigate the feasibility. BankservAfrica was founded in 1972 as the Automated Clearing Bureau (Pty) Limited to service the banking industry by providing interoperability between the banks. In December 1993 the name changed to Bankserv and in 2010 the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BankservAfrica Logo
BankservAfrica is an automated clearing house located in Johannesburg, South Africa and operates both nationally and within Africa. Annually processing billions of transactions valued at trillions of South African rand; BankservAfrica's clients include banks, corporates, government and the retail sector. By volume of transactions alone, it is rated as Africaʼs largest automated payments clearing house. History Prior to the establishment of BankservAfrica, the South African banking industry owned several companies that provided shared services to the industry in a number of different payment channels. As these companies operated in silos, a need was identified for a single structure and an interbank task group was appointed to investigate the feasibility. BankservAfrica was founded in 1972 as the Automated Clearing Bureau (Pty) Limited to service the banking industry by providing interoperability between the banks. In December 1993 the name changed to Bankserv and in 2010 the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the United States, Japan and Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Set of ZAR notes 2012 to present R 104 000 000 000.00 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bidvest Bank
Bidvest Bank, (BVBL), is a business bank in the Republic of South Africa. It is licensed as a "locally-controlled bank" by the Reserve Bank of South Africa, the national banking regulator. It is a niche bank specialising in foreign exchange and providing retail banking, vehicle financing and insurance. History In 1998, the Bidvest Group acquired ''Rennies Foreign Exchange'', as part of the acquisition of the Rennies Group. In 2000, following the issuance of a banking license by the South African Reserve Bank, Rennies Foreign Exchange became ''Rennies Bank''. In 2007 Rennies Bank rebranded into ''Bidvest Bank''. The bank maintains over 140 retail banking outlets across South Africa. It is still heavily involved in meeting the banking needs of traveling businesspeople and tourists, but has a variety of retail banking products on its menu. Overview The bank is a 100% subsidiary of its parent company, Bidvest Group Limited (BVGL), a South African-based International business ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In South Africa
Banking in South Africa is centred on the South African Reserve Bank (SARB), which is the monetary authority and controls gold and foreign exchange reserves. Legislation and regulatory authorities * Banks Act, 1990. * Financial Sector Regulation Act, 2017. Prudential Authority within SARB. * Financial Intelligence Centre Act, 2001 and Financial Intelligence Centre. * Financial Sector Conduct Authority (FSCA). Financial Advisory and Intermediary Services Act, 2002 (FAIS). * National Credit Regulator (NCR) National Credit Act, 2005 (NCA). * Information Regulator and Protection of Personal Information Act, 2013 (POPI). Commercial banking Commercial banking in the country is dominated by the "big five" banks: Standard Bank, FirstRand, Absa, Nedbank, and Investec Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific. Investec is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Society For Worldwide Interbank Financial Telecommunication
Swift or SWIFT most commonly refers to: * SWIFT, an international organization facilitating transactions between banks ** SWIFT code * Swift (programming language) * Swift (bird), a family of birds It may also refer to: Organizations * SWIFT, an international organization facilitating transactions between banks * Swift Engineering, an American engineering firm * Swift & Company, a meat processing company * Swifts (aerobatic team), a Russian aerobatic team Transportation companies * Swift Cooper, a British racing car manufacturer * Swift Leisure, a British manufacturer of caravans * Swift Motor Company, of Coventry, England * Swift Transportation, a US trucking company Places * River Swift, a river in England * Swift, Illinois, an unincorporated community in northeastern Illinois * Swift County, Minnesota, a county in west-central Minnesota * Swift, Minnesota, an unincorporated community in northern Minnesota * Swift, Missouri, a ghost town in southeastern Missouri As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Teba Bank Limited
Ubank (stylised as ubank) is an Australian direct bank, that operates as a division of National Australia Bank (NAB). It was established in 2008, and provides savings products and home loans over the Internet and telephone. Ubank operates under NAB's banking licence and uses its balance sheet, risk management and technology infrastructure. Ubank also participates in the Australian government's deposit guarantee scheme. History Ubank was launched by Gerd Schenkel and Greg Sutherland for National Australia Bank on 1 October 2008, with the purpose of establishing a presence in the "self directed" customer segment. NAB stated it aimed to attract new retail customers while operating independently to its other retail brands, and in its 2009 annual report, NAB claimed that this strategy had been "successful". Ubank operates under NAB's banking licence and participates in the Australian government's deposit guarantee scheme. Ubank was underpinned with the "Nextgen" technology prov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercantile Bank (South Africa)
Mercantile Bank Limited is a South African commercial bank, founded in 1965. It was previously called Bank of Lisbon International. The bank is headquartered in Sandton, South Africa, and provides products and services in retail banking, corporate finance, asset management, equity brokerage and security. It is a fully owned subsidiary of Mercantile Bank Holdings Limited, which in turn is owned by the holding company registered in Portugal – Caixa Geral de Depósitos S.A. In 2019, Capitec Bank bought Mercantile Bank South Africa. In October 2019, the South African Minister of Finance and other Regulatory Authorities formally approved Capitec's purchase and acquisition of Mercantile Business Bank. As of November 2019, Capitec Bank bought all the shares of Mercantile Bank Ltd from CGD and serves as its business banking branch. It has more than 15 branches in South Africa, and employs between 501 and 1000 employees. History The bank was founded in Republic of South Africa i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investec Bank
Investec is an Anglo-South African international banking and wealth management group. It provides a range of financial products and services to a client base in Europe, Southern Africa, and Asia-Pacific. Investec is dual-listed on the London Stock Exchange and the Johannesburg Stock Exchange. It is a constituent of the FTSE 250 index. History Investec was founded as a small leasing and financing company in 1974 in Johannesburg, South Africa, by Larry Nestadt, Errol Grolman and Ian Kantor. It has expanded through growth and acquisitions. It secured a banking licence in 1980 and was first listed on the JSE Securities Exchange in South Africa in 1986, after merging with Metboard, a trust company. In 1988, Investec Bank Limited was restructured into Investec Group Limited ("IGL"), giving Investec Management and staff control of the company. In 1990, Investec acquired property management company I. Kuper & Company (Pty) Limited, Corporate Merchant Bank Limited (formerly Hill Samu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CitiBank
Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The bank has 2,649 branches in 19 countries, including 723 branches in the United States and 1,494 branches in Mexico operated by its subsidiary Banamex. The U.S. branches are concentrated in six metropolitan areas: New York, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. It was founded as City Bank of New York and became National City Bank of New York. It has had an important role in war bonds. It has had a role in international events including the U.S. invasion of Haiti. History Early history The City Bank of New York was founded on June 16, 1812. The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood. After Osgood's death in August 1813, William Few beca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capitec Bank
Capitec Bank is a South African retail bank. As of August 2017 the bank was the second largest retail bank in South Africa, based on number of customers, with 120,000 customers opening new accounts per month. Overview The bank maintains 850 retail branches nationwide, 3418 own or partnership ATMs and has over 6.2 million customers, according to the 2015 Chief Financial Officer's Report. Of these customers, 309 000 are online banking customers and 3.5 million are mobile banking customers. According to the annual results for the 2015 financial year, the asset base of Capitec Bank was in excess of R53.9 billion, with R11.6 billion in equity, and with retail savings deposits increasing by 32 percent for the year to R19.3 billion and retail fixed savings increasing by 19 percent to R10.7 billion for the year. Earnings and headline earnings for the 2015 financial year amounted to R2.547 billion compared to R2.017 billion in 2014, and net transaction fee income amounted to R2.6 bill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Athens
Over time, two Greek banks have been named the Bank of Athens. Both had their headquarters in Athens, Greece. The first Bank of Athens was founded in 1893 and operated in the Balkans and Eastern Mediterranean until its acquisition by the National Bank of Greece in 1953. In 1993, the second Bank of Athens was founded, and merged with Eurobank Ergasias in 1999. Subsidiaries of the Bank of Athens have been incorporated into foreign financial entities. Some banks in the US have incorporated the phrase, "Bank of Athens" in their name. First Bank of Athens (1894 1962) In 1893, E. Empeirikos, A. Lambrinoudis, A. Kallergis, M. Lordanopoulos, and N. Triantafyllidis founded the Bank of Athens using Greek, French, and English capital. The bank opened for business in 1894. In 1895, the bank established branches in London, Constantinople, Smyrna, and Khartoum. In 1896, Jean (John) Pesmatzoglou, an Alexandrian private banker, merged his bank with the Bank of Athens and became chairman of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clearing House (finance)
A clearing house is a financial institution formed to facilitate the exchange (i.e., '' clearance'') of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement obligations. Description After the legally binding agreement (i.e., ''execution'') of a trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the payment (i.e. ''settlement'') of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties. In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perform t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
