Navigating financial crime and regulatory challenges in cross-border transactions
According to McKinsey research, cross-border payments are a major revenue driver for payments companies and banks, representing worldwide flows of around $150-trillion a year. Remittances offer particularly attractive opportunities for money launderers, terrorist...
Why your bank isn’t up to the task of sending money offshore
South African banks love to promote their tech credentials. They'll incorporate any awards they win for innovation or tech integration into their marketing materials and race each other to introduce new app features. By Harry Scherzer, CEO of FutureForex For the most...
Insurtech expands market for comprehensive insurance products
In sub-Saharan Africa, 52% of adults save in some way, according to the World Bank. Over the last decade, South Africa has made positive strides in financial inclusion, and more than 80% of the adult population now has bank accounts. But real financial inclusion is...
How exporters can overcome cross-border payment challenges
Cross-border trade is a key driver of the South African economy, accounting for over half of the country's total exports. However, South African exporters face several challenges in receiving cross-border payments, including high transaction fees, currency conversion...
SA needs enabling regulations to allow AI innovation for cypto
The transformative power of artificial intelligence (AI) is no longer simply a hypothetical concept as the significant benefits of this technology are being realised across every facet of business, industry, and our daily lives. By Andre van den Berg, director:...
Collaboration key to unlocking fintech’s potential for financial inclusion
The rise of financial technology (fintech) in Africa is not just a story of innovation; it's a narrative about empowerment and transformation. By Chipo Mushwana, executive of emerging innovation and payments at Nedbank As the continent continues to grapple with the...
Blink by MiWay refreshes commitment to tech-driven car cover
In the last decade technology has reshaped the insurance industry for both customers and insurers. The rise of insurtech, technology-driven insurance offerings, has spurred rapid change. Pandemic lockdowns further accelerated the demand for technology-based services...
The SARB roadmap to digital payments
On 18 April 2024, the South African Reserve Bank (SARB) published its digital payments roadmap. By Lerato Lamola, partner at Webber Wentzel The document entitled Digital Payments Roadmap: Towards Inclusive, Accessible, Effective and Sustainable Digital Payments in...
How regulators are keeping pace with money laundering techniques
Regulators are moving fast to keep up with the ever-evolving techniques financial criminals use to evade detection of money laundering and terrorist funding. In turn, compliance teams at financial institutions need to be agile to keep up with the rate of change in...
Non-insurers lead the way in empowering shoppers
The insurance industry is poised for a shakeup as consumers start taking a self-service approach to insuring themselves against theft, loss or damage to their valuable goods. Major retailers are at the forefront of this transformative trend. The seamless integration...
Mastercard, Payment24 boost EMV adoption in EEMEA’s fleet sector
Mastercard and Payment24 are extending their engagement across Eastern Europe, Middle East and Africa (EEMEA) to help bolster security and drive innovation within the fleet and fuel payment industry across the region. The EMV standard, now being implemented in over 80...
AI propels group insurance into the future
The group insurance industry is undergoing a massive shift. Driven by the snowballing adoption of wellness practices and artificial intelligence (AI) engulfing the industry, businesses are rapidly improving their employee benefits offerings as they fight to stay...