BankservAfrica Connects Banks Across South Africa

BankservAfrica is a leading transactional banking hub in South Africa, connecting banks and financial institutions across the country. It was founded in 1980.

BankservAfrica plays a crucial role in facilitating the movement of money between banks. This is done through its secure and efficient systems.

By connecting banks, BankservAfrica enables the smooth execution of transactions, from account opening to payment processing. This helps to ensure that financial institutions can provide excellent service to their customers.

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BankservAfrica has a rich history that dates back to 1972, when it was founded as the Automated Clearing Bureau (Pty) Limited.

Prior to its formation, various industry-owned companies operated independently in different payment channels.

The transformation aimed to streamline operations, which eventually led to the rebranding as BankservAfrica in 2010.

This change marked a significant milestone in the company's evolution, demonstrating its adaptability and commitment to innovation.

In 1972, BankservAfrica was formed as the Automated Clearing Bureau (Pty) Limited.

Prior to its formation, various industry-owned companies operated independently in different payment channels, leading to a need for unification.

The transformation aimed to streamline operations, which eventually led to the company's rebranding in 2010.

BankservAfrica has experienced significant growth since its inception in 1989, with the company's revenue increasing from R1 million to over R1 billion in 2019.

The company's expansion into various African countries has been a key driver of growth, with operations now spanning 15 African countries.

BankservAfrica's strategic partnerships with major banks and financial institutions have also contributed to its growth and development, enabling the company to expand its services and reach a wider customer base.

The company's commitment to innovation has led to the development of new products and services, such as its electronic payment system, which has improved the efficiency of payment processing for its clients.

BankservAfrica's investment in technology has enabled the company to stay ahead of the curve, with its systems and processes continuously being updated to meet the evolving needs of its clients.

The company's focus on customer service has also been a key factor in its growth and development, with a dedicated team working tirelessly to ensure that clients receive the highest level of service.

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BankservAfrica is a joint venture between 19 major banks in South Africa.

It was established in 1989.

The company is owned and controlled by its shareholder banks, who make decisions on its operations and strategy.

BankservAfrica's board of directors is responsible for overseeing the company's overall direction and performance.

The company has a strong focus on innovation and technology to support its services and operations.

BankservAfrica's data centre is located in Johannesburg and is a highly secure and reliable facility.

It houses the company's core processing systems and provides 24/7 support for its services.

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At BankservAfrica, they offer a wide range of services that cater to various needs of their clients. These services include payment collection, switching, clearing, and settlement.

Their comprehensive services also extend to consulting, system hosting, and business process outsourcing. They provide SWIFT bureau and payment solutions, which are essential for businesses that operate globally.

BankservAfrica is committed to ensuring uninterrupted core processing in the event of a disaster, which they achieve through dual processing at production and disaster recovery sites.

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Automated Clearing House transactions are processed electronically, reducing the need for manual handling and paperwork. This streamlined process allows for faster settlement times, typically within 2-3 business days.

The ACH network is a secure and reliable way to send and receive payments, with a low risk of errors or fraud. It's used by millions of businesses and individuals every year.

ACH transactions are typically used for recurring payments, such as rent, utility bills, and salaries. This makes it a convenient option for businesses and individuals who need to make regular payments.

The ACH system uses a standardized format for transactions, making it easy to process and reconcile payments. This format includes information such as the sender and receiver's account numbers, as well as the payment amount.

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BankservAfrica provides a range of services that cater to different business needs. These include payment solutions, such as SWIFT bureau services.

The company's system hosting services allow businesses to outsource their IT infrastructure, freeing up resources for core operations. This can be a game-changer for small and medium-sized enterprises.

Disaster recovery and business continuity services are also offered, ensuring that businesses can recover quickly in the event of a disaster. This is achieved through dual processing, with production and disaster recovery sites working together seamlessly.

Business process outsourcing is another service that helps businesses streamline their operations. By outsourcing non-core functions, companies can focus on their core strengths and improve overall efficiency.