New support for financial transactions

November 2008 News & Events

Security companies doing business in Africa and the Middle East can now effect safer, simpler and less costly financial transactions through Bankserv’s Swift Bureau services, available in South Africa, COMESA (Common Market for Eastern and Southern Africa) and beyond.

Automated Clearing House BANKSERV has confirmed the acquisition of FIN-X, a company providing SWIFT Bureau services and OFAC security filtering to commercial banks and financial institutions throughout Africa and the Middle East, reducing risk, cost and complexity in financial transactions.

“The acquisition complements a key component of BANKSERV’s strategy, which is providing banking clients with the highest quality of transaction, switching and value-added services in support of their business objectives while effecting significant cost savings and reducing risk and complexity in the industry,” says Pieter Cilliers, BANKSERV CEO. “FIN-X’s penetration of the African market and its proven expertise in the marketing of the SWIFT Service Bureau make it an ideal acquisition for BANKSERV.”

FIN-X brings to BANKSERV’s network 54 commercial banks and financial institutions in 24 countries across Africa and the Middle East.

“The resources of BANKSERV will bring major new opportunities to FIN-X and our clients in Africa – and beyond – enhancing the successful service model which we have built up over the past decade,” says Willie Stoman of FIN-X.

The FIN-X Service Bureau operates the connection to SWIFTNet and the SWIFT interface on behalf of the institutions. Fully approved by SWIFT Brussels, the bureau currently provides access to the SWIFT Network at a significantly reduced cost.





Share this article:
Share via emailShare via LinkedInPrint this page



Further reading:

Managed security solutions for organisations of all sizes
Information Security News & Events
Cyber attackers have become significantly more sophisticated and determined, targeting businesses of all sizes. PwC’s Global Digital Trust Insights Survey 2025 Africa and South Africa highlights the urgent need for organisations to implement robust cyber risk mitigation strategies.

Read more...
From the Editor's desk: The good, the bad, and the victims
Technews Publishing News & Events
When the Internet first arrived, everyone was expecting amazing things from it, well, everyone who knew what it was and how it worked. We had the dotcom boom and bust, and it’s fair to say that if we ...

Read more...
Carrier rebranded Kidde Global Solutions
News & Events Fire & Safety
From July 2025, the former Carrier Fire & Security South Africa will operate under its new name, Kidde Fire & Security South Africa, as part of the global realignment of the commercial and residential fire and security business.

Read more...
Facilities Management Expo brings smart, secure operations to the Cape
Securex South Africa News & Events Facilities & Building Management
As organisations across South Africa navigate the challenges of ageing infrastructure and increased cyber-physical risks, integrated facilities management (FM) solutions have become critical to ensuring operational resilience.

Read more...
Specialised Exhibitions changes name to Montgomery Group Africa
News & Events
This name change reflects the consolidation of Montgomery Group’s regional divisions across Africa under one unified management structure, creating a more agile, efficient, and future-focused organisation.

Read more...
Secure data protection without hardware lock-in
Infrastructure Information Security News & Events
New Veeam Software Appliance empowers IT teams to achieve instant protection with Veeam’s fully preconfigured, software-only appliance, delivering enterprise-ready simplified deployment and operational efficiency, robust cyber resilience.

Read more...
Check Point launches open, vendor-neutral MDR services
Information Security News & Events Products & Solutions
New Check Point MDR 360° and MXDR 360° offerings deliver 24/7 managed continuous threat monitoring protection across endpoints, cloud and network environments with built-in identity threat detection and 160+ integrations across hybrid, multi-vendor environments.

Read more...
Unlock the future of security operations in Bloemfontein
DeepAlert News & Events Surveillance
Security professionals and business leaders are invited to revolutionise their offsite monitoring operations at the DeepAlert Product Road Show, taking place on 16 – 17 September 2025, at the Schoemanspark Golf Club, Bloemfontein.

Read more...
Hytera supports communication upgrade for Joburg
News & Events Infrastructure Government and Parastatal (Industry)
By equipping Johannesburg’s metro police and emergency services with multimode radios which integrate TETRA and LTE networks, Hytera is bridging coverage gaps and improving response times across the city.

Read more...
The global generative AI market surpassed $130 billion in 2024
News & Events AI & Data Analytics
According to a new research report from the IoT analyst firm, Berg Insight, the Generative AI (GenAI) market grew substantially in 2024, experiencing triple-digit growth rates in all three major segments: GenAI hardware, foundation models, and development platforms.

Read more...










While every effort has been made to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors contained, or any loss incurred as a result. Articles published do not necessarily reflect the views of the publishers. The editor reserves the right to alter or cut copy. Articles submitted are deemed to have been cleared for publication. Advertisements and company contact details are published as provided by the advertiser. Technews Publishing (Pty) Ltd cannot be held responsible for the accuracy or veracity of supplied material.




© Technews Publishing (Pty) Ltd. | All Rights Reserved.