South Africa: BankservAfrica appoints new CEO

BankservAfrica, an automated payments clearing house in South Africa has named Stephen Linnell as its new Chief Executive Officer (CEO).
Stephen Linnell, who previously held the positions of Chief Operating Officer and Chief Information Officer for Global Markets at Rand Merchant Bank (RMB), will assume his new role as CEO of the company.

He succeeds Jan Pilbauer, who left the position, and Roshan MoonSamy, BankservAfrica’s CFO, who served as interim CEO.
BankservAfrica’s board chair of directors, Teddy Daka emphasized on Stephen’s credentials and ability to chair the company. “Stephen’s credentials as a dynamic executive across a wide range of disciplines is impeccable”. “His passion for the development of financial market infrastructure is evident and we are confident of Stephen’s expertise and ability to lead BankservAfrica in its journey towards the envisioned platform’s future state” he said.

Linnell brings extensive experience in the financial services sector, with a background that includes roles at Accenture and Barclays.
“It is a great privilege to become part of a brand that, for five decades, has been at the forefront of driving efficiency and fostering payment interoperability within the financial ecosystem,”
“As BankservAfrica continues to expand on services for its existing customers, and connect with new ones across the continent, we must recognize the dynamic nature of the landscape we operate in. To remain relevant and impactful in this context, our commitment to innovation and adaptability will serve as a foundation,” he said.
BankservAfrica plays a pivotal role in the South African National Payments System by efficiently handling and processing billions of low-value card, ATM, and EFT transactions on an annual basis for the banking sector. Its primary functions include fostering seamless interaction among banks, upholding regulatory adherence, and upholding international banking security standards.