Innovation in Finance: Alliance Banking for Banks and Financial Service Providers
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June 24, 2024Expert Legal Compliance in the Financial Services Sector: Couzyn Hertzog and Horak Attorneys
June 24, 2024The financial services industry is poised for unprecedented transformation in the coming years. Banks and financial service companies are forging strategic alliances to revolutionise card and payment solutions for unbanked individuals across Africa.
This collaborative effort, known as “alliance banking”, empowers retail clients to legally issue cards in their own name, seamlessly integrating with e-wallets, loyalty programs, and tailored payment solutions.
Our field of expertise include the following to assist prospective and existing alliance banking providers:
- Bin Sponsorship arrangements with Authorised Dealer in foreign exchange with Limited Authority (ADLA’s);
- Card service solutions linked to e-wallets, in-store reward (loyalty) programs and payment functions;
- Compliance with ADLA systems subject to the FIC Act, the Payment Association of South Africa Act (PASA) and the Banks Act;
Join us as we explore the evolution and impact of alliance banking in shaping the future of financial inclusivity and innovation.
For more information, contact Marc de Bruyn at marcdb@couzyn.co.za. Visit our website at www.couzyn.co.za.
