GoTyme Bank’s Post

Bank of Guam is making significant strides in its journey to become a digital-forward institution. By partnering with Q2 for online deposit account opening and its digital banking solutions, the bank is setting new benchmarks for #DigitalBanking in U.S. territories. Learn more in this recent American Banker article by Miriam Cross. ➡️ https://bit.ly/4dJ36Sh

Tink: Banks Vie to Become 'Provider of Choice' for Younger Customers by Enhancing Digital Tools: ... challenger banks (32 per cent). Driving young loyalty. With younger customers expecting more and more from their bank, Tink reveals that banks are ...

Seven Nigerian banks generated a cumulative N132.45 billion from e-business operations in the first half of 2024, reflecting a significant uptick in digital banking adoption across the country. These banks include FBN Holdings, Zenith, GTCO Holdings Stanbic IBTC, Wema, FCMB, and Sterling Financial Holding. This amount, as revealed in their respective half-year 2024 financial results, represents a substantial increase for several top financial institutions, as they continue to leverage technology to offer seamless services to their customers. https://lnkd.in/dT-utztD

Anyone that I talk with about banking knows how passionate I am about what my friends over at Mascoma Bank are building. Clay Adams, Raphael Reznek, Samantha Pause, and the entire team are making a significant impact! Community Banks have a huge opportunity. They have a strong amount of consumer trust in the communities that they serve, and if they can find ways to simultaneously deliver a best-in-class digital experience, them I believe that they have a superpower that is unmatched in the market. Tedd Huff and I welcomed Raphael Reznek and Samantha Pause over at Mascoma Bank onto Accrued to talk about their modernization journey over the past 3+ years. A few key learnings from the discussion: 👩💻 The power behind embedding team members from technology, compliance, and risk to jointly make decisions together ⁉ Constantly ask yourself why something is being done a certain way. If the answer is, that's the way it's always been done; then it may be time to reevaluate that process 🚀 Your infrastructure should empower greater choice. Take off the handcuffs from legacy providers 👮♀ Listen to the episode and let me know what you think in the comments below.

TymeBank TymeBank TymeBank ZA - Congratulations on your milestone! As one of your clients, I am reporting a critical issue for the second time in less than two months. Please DM me the email address for your fraud team. Earlier today, I received another call from this number: +27606960000 (identified on Truecaller as "Tymebank Anti-Fraud Prevention"). Fortunately, I was able to record the call this time, and I’m eager to share it with your team for a thorough investigation. This situation demands action. If scammers manage to exploit even 1% of your 10 million customers, it could have serious consequences, even if only one person is affected. FACT: The scammers seem to have partial access to your systems. They were able to block my Banking App during the call, indicating a possible compromise of admin credentials. With October being Cyber Security Awareness Month, I’m stepping up as a responsible citizen. I have proof, including the OTP they sent when they blocked my account, which I reset last month without sharing any details. Today, I recorded the fraudulent agent’s call. Given that many people rely on these accounts for crucial services like receiving grants, it’s crucial that we work together to address this threat. This is an opportunity to show that customers can actively contribute to fighting cybercrime. Please send me the fraud team’s email so I can forward the recording and relevant details. The reason I engaged the scammer last time was because this account has no debits, and I wanted to see how far they would go. Shockingly, they managed to send me an OTP three times—directly from one of your legitimate sending channels—and even blocked my Banking App while I was still on the call. It was clear they knew what they were doing, and while their skills are impressive, they’re using them for the wrong reasons. Imagine if these individuals could work with your Risk & Fraud team to catch their counterparts. The only thing I didn’t do was provide the OTP, but I can see how easy it would be for someone to fall into that trap, given the actions they were able to take. This is a call to action. I’m ready to assist, but if this isn’t addressed, others may hesitate to report similar incidents. #OctoberIsCyberSecurityAwarenessMonth #CyberSecurity #LetsProtectTheNation #CyberSecurityMonth || Gents, if you know anyone that I can speak to in your circles regarding this, please inbox me. We can't let scammers ruin people's happiness Camiel Govinsammy Ishaaq Jacobs Onkemetse Seloka

MBIE is now consulting on designation regulations for both the banking and the electricity sectors under the Customer and Product Data Bill. This brings the regime closer, especially for banks, as it goes into the nitty-gritty of how the system will work. It also supports the Commerce Commission's ambition for fully operational open banking by June 2026 - for the biggest four banks at least under the MBIE proposal (with MBIE suggesting a longer implementation timeframe for Kiwibank). Interesting that consultation on bringing in the electricity sector has began as well. Consultation closes 10 October 2024. #openbanking

Interesting insights shared here! Are we experiencing the same level of trust and satisfaction when comparing traditional banks to challenger banks in Africa? FinTech companies in the region are disrupting the financial services space by offering more convenience and improved user experience. However, is user experience the sole factor consumers consider when choosing their financial partner? Food for thought. #FinTech #Banking #Finance #UserExperience

At this year's Narmi Uplift Digital Banking Summit, Jason Ioannides shared insights from our 2024 State of Fraud Report on the most common types of fraud and how financial institutions can address them. “Transactions don’t commit fraud, people do. We want to look at people really closely, starting at onboarding,” Jason shared. https://lnkd.in/eJXBFgJ5

Another huge win, supporting one of the most progressive UK based digital banks. Zopa Bank bought into the value of D•One as a tool to further enhance their top of funnel acquisition enabling them to lend more responsibility and tailor their offering to different customer needs. When D•One gathers open banking consent at the earliest stage of customers credit application journey there are material UX improvements downstream to lenders with no requirement to re-consent whilst providing more certainty to applicants in marketplaces reducing wasted time applying for unsuitable offerings. #openbankingaffordability #creditriskdecisioning https://lnkd.in/d5BftAQq

When I first read this headline, I was like… yah right. Another slagging on going digital by the “analogs”. However, there may be some truth to it after what happened to SVB. Hence, I believe the banks will impose more transaction limits to mitigate this but where does that bring us to? #fintech #digitalbanking