Nouvobanq launches internet banking

Nouvobanq launches internet banking

22-July-2014
Seychelles’ largest local bank, Nouvobanq, launched its internet banking service yesterday, marking another step towards greater banking convenience for its customers.

"Nouvobanq Online Banking is a natural evolution for us," said Deoraj Puddoo, the bank’s operations manager.

"By combining the ultimate in convenience with state-of-the-art security, it fulfils our desire to offer smooth, hassle-free banking. Now, Nouvobanq customers with an internet connection can truly bank wherever they want, whenever they want."

Nouvobanq Online Banking provides customers with a full array of convenient features.
“Our platform was until recently only allowing us to provide e-statements to our customers but since last year, we have been working on upgrading the platform and now that this is done, we are ready to provide our customers with full fledged internet banking,” added the bank’s operations manager.

“Customers can now do all their standard banking transactions online. They can transfer money from a Nouvobanq account to another, from their Nouvobanq account to another domestic bank account, they can pay their utility bills, set up standing orders and make overseas transfers,” he added.

In keeping with the bank’s commitment to guarding its customers' personal and financial information, Nouvobanq has made security its top priority.

"We have invested in advanced encryption and browser protection technology as well as secure login, one time transaction password, audit trail and session timeout among other enhanced security features," continued Mr Puddoo.

The launch of Nouvobanq Online Banking complements the recent core banking system transformation which saw the bank adopting a state-of-the-art core banking system. The bank is now able to offer real-time transactions and other banking services for customers through their full fledged internet banking service.

http://www.nation.sc/article.html?id=242410

Seychelles Commercial Bank - Second round of sale of shares

24-March-2016
The Seychelles government will be selling the remaining 99,276 shares, 16.55% of the paid-up capital of the Seychelles Commercial Bank to reach the set target of 40% to account holders and staff of the bank.
The total number of shares on offer is 99,276 and the value per share is fixed at R100.
Finance, Trade and the Blue Economy Minister Jean-Paul Adam made the announcement of the second round of the sale of shares in the Seychelles Commercial Bank (SCB) yesterday during a press conference at his office at Liberty House.
“The sale of shares has as objective the broadening ownership of equity among the public to ensure SCB is able to develop as a commercially and private sector driven financial institution and to earn a return for government on the shares being sold,” said Minister Adam.
In the first round of sale there was a cap on the number of shares being sold to the amount of 250 shares but there will be no capping on the number of shares for the second round. If the demand exceeds the number of shares available, they will be allocated on pro rata basis.
Application forms will be available as from March 28, 2016 but should be submitted to the bank from April 25 to May 28, 2016.
“It’s a great opportunity for Seychellois to invest in a very strategic enterprise. Seychelles Commercial Bank has very strong recent performances, having allocated R30 million as dividends during the last three years. And we anticipate the strong performance will continue. We are very proud of this opportunity for Seychellois to become investors and to invest their savings for their future,” said the minister.
The Ministry of Finance, Trade and the Blue Economy, the Central Bank of Seychelles and the Seychelles Commercial Bank will closely coordinate the execution of the sale.
The government of Seychelles decided to sell 40% of its shareholdings, 240,000 shares out of a total number of 600,000 in the Seychelles Commercial Bank (SCB) to account holders including staff of the bank in 2011.
Once the remaining 99,276 shares on offer are sold to the account holders and staff, the government will hold 60%and account holders and staff of the bank 40%.
The first round of the sale of shares took place in June 2011 during which a total number of 140,724 shares amounting to R14,072,400 were purchased by 2,921 account holders and staff of the bank. This worked out to 23.45% of the paid-up capital of the bank as against the intended sale of 40% shareholdings of the bank.

http://www.nation.sc/article.html?id=248864

Financial regulators sign accord

24-March-2016
With the increase of international activity especially in regards to financial markets, two financial regulators – Financial Services Authority and Financial Services Commission of Mauritius – have signed a memorandum of understanding.
The signing ceremony took place on March 3, 2016 as the two financial regulators recognise the importance of establishing a framework for mutual cooperation and consultation to ensure compliance to relevant laws and facilitation of the performance of their respective regulatory functions.
The main areas of cooperation under the memorandum of understanding (MoU) will include mutual assistance and exchange of information, regular exchange of regulatory expertise and technical knowledge, cooperation on the enhancement of mutual knowledge and understanding on regulatory framework, products, market institutions and intermediaries and assistance in the discovery and taking action against unauthorised business and illegal practices.
The areas of cooperation under the MoU are broad and encompass any areas for mutual collaboration and cooperation which the two regulators may identify and agree upon.
According to a press release, the Financial Services Authority (FSA) said it welcomes the signing of the MoU with FSC Mauritius as it marks an important step towards the strengthening of its regulatory functions and enhancing its relations with other reputable jurisdictions, especially as Mauritius is a well-established regulator within the region.
In addition, through the MoU, it is anticipated that each regulator will have the opportunity to acquire information, exchange their respective experience and expertise, build capacity as well as create a channel to exchange ideas, adds the release.
The FSA is also in the process of finalising the signing of MoUs with other jurisdictions such as the Isle of Man and is already a signatory to the Committee of Insurance and Securities and Non-Banking Financial Authorities’ (CISNA) Multilateral Memorandum of Understanding to ease the development and implementation of a harmonised, risk based regulatory framework for member states in the SADC region.

Nouvobanq launches new debit card
http://www.nation.sc/article.html?id=258683