New solution makes policy generation 70% faster for Shackleton
Insurtech Root and Shackleton Life have partnered to overhaul the long-term insurance company's policy administration system (PAS). The new system has reduced the time taken to generate a policy by 70%, from 20 minutes to six minutes. Shackleton Life's core product is...
How banking CIOs can enable the business with IT agility
Instead of supporting a piecemeal set of disconnected enterprise applications, IT can lead the way in advocating for platform-based solutions that will scale across use cases, writes Richard Lagerweij, senior director: EMEA at Fico. With an ever-increasing demand for...
Mastercard service modernises international payments
Mastercard has introduced Cross-Border Services Express, a new tool that enables financial institutions to set up international payments for their customers, including consumers and small and medium sized enterprises (SMEs), which have a strong need for improved...
With friends like these … who needs competitors?
For almost 20 years, the South African banking industry has tried to achieve digitisation and innovation, but has largely failed to capitalise on earlier opportunities. By Richard Firth, CEO, MIP Holdings Despite extensive investment into their technology ecosystems,...
How insurtech can help prevent fraud
Insurance fraud is soaring around the world, with a study by The Coalition Against Insurance Fraud (CAIF) last year indicating that insurance fraud in the US alone costs consumers $308,6-billion yearly. Zurich UK, one of Britain's biggest insurers, said the number of...
How digital is shaping the future of banking
If banks want to remain competitive in the face of neo-bank and fintech upstarts, they'll have to fundamentally change the way they do business to be digital first. And, if they're going to achieve that goal, then working with technology partners to ensure that they...
Trends that are shaping the insurance sector
As the world weathers a growing financial crisis, socio-political instability, the post pandemic repercussions and major weather catastrophes, the impact on clients and insurers alike has been profound. South Africa has not emerged unscathed, and a combination of both...
How tech can help with fintech compliance
South Africa's fintech sector is growing exponentially, with 71% of consumers now using fintech to perform five or more everyday financial tasks. Consequently, a number of regulations to govern the industry are currently being developed, amended, or discussed....
What goes into that insurance app?
Most of us know that taking out insurance is a sure sign of "having your life together" and have some form of insurance for our cars, home, life or funeral. If you don't, you know you should. By Sizwe Mase, business development lead at Root Platform Like a growing...
Huawei launches Mega ICT infrastructure package
Huawei launched its Mega ICT infrastructure package solution for the African banking market, at Huawei Intelligent Finance Summit for Africa 2023 in Cape Town. The solution aims to ensure that banks and other financial service companies across the continent are...
Building a digital, sustainable bank for the future
Banking, like many other sectors, has responded to rapid change and evolving customer needs by developing a digital strategy. By Takalane Khashane, MD of Iron Mountain South Africa Banks in South Africa are increasingly using new technologies, digital solutions and...
Growing compliance could take a toll on acquiring margins
Banks hoping to navigate the uncertainties of 2023 will be looking to their modernisation efforts as a way to claw back some value. In its 2023 banking outlook, Deloitte has advised banks to "...reassess traditional product, service, and industry boundaries to create...