A large bank in Zambia processes 100,000 + VISA ATM and POS device transactions on a daily basis.

Once the customer’s balance has been verified and the transaction authorised, the settlement of the transaction needs to take place. They face a challenge where these settlement transactions are processed manually into their banking system allowing significant room for error and time delays.

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Standard Bank is working on growing its personal and business banking division in the rest of Africa to just more than a R1bn in the next three years.

This means over this period, Standard Bank’s personal banking division will turn profitable, although business banking is expected to be the biggest earnings contributor in the rest-of-Africa in the personal and business banking division.

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