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Financial Digital Identity: Landscaping a digital financial ...

This report by David Porteous of Bankable Frontier Associates (BFA) from the FinMark Trust Digital Identity workshop sets out a framework for defining digital financial identity and its general use cases. The report follows on to consider the current available information about drivers and needs in the SADC identity environment before describing examples of solutions positioned on the digital […]

SADC FI
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Achieving Financial Inclusion Goals Through Digital ID in Ma...

Digital Financial Identity has been top of mind for FinMark Trust since the idea was first raised in the SADC FI Forum in July 2017. We followed this up with a Digital Financial Identity Workshop in January 2018, where we delved into the challenges and benefits of a digital financial identity. In mid-July, FinMark Trust […]

SADC FI
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Malawi Digital Financial ID Feasibility Assessment

The World Bank’s ID4D Programme estimates that 375 million adults in developing countries are excluded from formal financial services. This is on account of unavailability of a suitable proof of identity as per know your customer (KYC) requirements (ID4D 2016). This gap can only be bridged by the development of a trusted identity system that […]

SADC FI
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Ever wondered why you need so many documents before you can ...

These requirements are a legacy of regulations meant to ensure that the financial system is sound and is not abused for fraud, money laundering or the financing of terrorism. However, they have unwittingly contributed to the continued exclusion of many of the most vulnerable members of society from the financial system. Anyone who has tried […]

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Shoprite Money Transfer Launched In Maseru – Allows For Re...

Johannesburg, 09 July 2015. The Shoprite Money Transfer cross-border remittances facility will be officially launched in Lesotho on Friday 10 July 2015, in Maseru by the Minister of Finance Dr. Mamphono Khaketla. This cross-border money transfer project is the outcome of FinMark Trust continuous advocacy for cheaper official remittance channels in the SADC region. It is […]

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Shoprite Money Transfer

This cross-border money transfer project is the outcome of FinMark Trust continuous advocacy for cheaper official remittance channels in the SADC region. It is a result of intensive consultations with the South African Reserve Bank, Shoprite South Africa and Shoprite Lesotho, as well as Capital Bank in South Africa to provide the people of Lesotho […]

SADC Payments and Remittances
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Media Statement: Finance Minister signs FICA exemption for c...

The Minister of Finance in South Africa has finally signed the proposed FICA exemption for low value cross-border money transfers which will greatly reduce the AML/CFT requirements which currently apply. This exemption comes into effect on 1st July 2015. FICA’s control framework follows international best practice, particularly in relation to identification and verification. In respect […]