Digital banking articles
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Egypt to Launch First Ever Digital Bank
Misr Digital Innovation (MDI), a subsidiary of banking giant Banque Misr, has secured preliminary approval from the Central Bank of Egypt (CBE) to launch Egypt’s first digital bank: onebank. This step aims to further promote financial inclusion in Egypt, as onebank will operate entirely online, offering convenient and secure banking solutions to a wider segment of the population. Unlike traditional banks that require branch visits, this completely online bank allows you to set up an account...
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Digital fraud-hit banks turn to startups to cope with risks
A massive rise in attacks on the country’s digital banking ecosystem from fraudsters, coupled with regulatory pressure on stringent implementation of customer verification guidelines, has forced legacy financial institutions to turn to data analytics startups for tech support.These startups are using advanced technology to help strengthen the customer onboarding processes of financial institutions and help them manage risk.One of such startups is Mumbai-based Data Sutram, which is providing...
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Macquarie Bank ditches cash at all branches and goes ‘fully digital’
By Freddy Pawle and Peter Vincent for Daily Mail Australia Published: 8:31 p.m. EDT, May 1, 2024 | Updated: 9:56 p.m. EDT, May 1, 2024 One of Australia's largest banks is eliminating cash in all branches and switching entirely to “digital-only” services. Macquarie Bank customers will no longer be able to access over-the-counter services or order new checkbooks from May 20.The bank's automated phone banking...