Avoiding FATF suspension depends on data

South Africa is the only permanent African member of the Financial Action Task Force (FATF), the global anti-money laundering watchdog. This is why it came as a shock to hear that the country is close to being grey-listed following concerns raised by the global body....

The potential of smart contracts in SA insurance

The global smart contracts market is expected to top the $8,3-million mark by 2030, growing annually by 21,4% from this year. By Yunus Scheepers, chief technology officer at SilverBridge Holdings The blockchain and smart contracts allow insurers to automate the...

In a changing world niche banking is attracting more attention

Traditional banking models have been disrupted long before the Covid-19 pandemic fundamentally changed the way we live, work and shop. “We are seeing a rapid rise in digital banking and niche banking, mainly driven by the changing needs of consumers and...

NFTs present complex indirect tax challenges

Before looking at the taxation of NFTs, it is important to understand what they are. In short, an NFT, or non-fungible token, is a unique blockchain-based digital asset. By Jana Botha, senior tax advisor, and Francis Mayebe, candidate attorney: tax practice at Baker...

Data management key to the digital transition of African banks

The digitisation process is completely transforming the African banking sector, but big questions remain over the speed of that transformation and the nature of the changes. By Gary Allemann, MD of Master Data Management According to an African Digital Banking...

How insurtech can ease insurance business pain points

Insurance companies face myriad challenges in 2022, many of which can be solved with insurtech. This is according to Louw Hopley, CEO of Root, who echoes McKinsey study’s view that younger, digitally savvy market segments, in particular, consider insurance...