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...
Huawei Cloud introduces smart finance solution
Huawei has launched its Huawei Cloud's all-scenario smart finance solution to Africa. The solution, announced at the Huawei Intelligent Finance Summit for Africa 2023, will effectively drive the digitisation and leapfrogging development of African's financial and...
New opportunities for long term insurers
The rapid adoption of technology has disrupted traditional business models, with many institutions forced to digitise faster than anticipated. The Covid-19 pandemic also played a key role in accelerating the adoption of technology over face-to-face interaction. By...
Payshap to spur chat commerce but pricing complexity will impact uptake
South Africa's long awaited and highly anticipated rapid payment programme (RPP), PayShap, offers huge potential to boost digital payments and, when used in conjunction with technologies such as chat commerce, could serve as a real game changer for businesses. But the...
Huawei calls for a ‘non-stop’ digital future for Africa’s banking industry
Huawei announced its ‘Non Stop Banking’ initiative. Unveiled at the Huawei Intelligent Finance Summit for Africa 2023, the initiative calls for hand-in-hand collaboration between the ICT and banking industries and facilitate a digital future of ‘non-stop’ services,...
How geospatial data is revolutionising banking
Change is constant in today's world. In the financial services and banking sector this presents unique challenges, such as increasing competition, ongoing regulatory compliance requirements, and rising customer expectations. By Charl Fouché, chief operations officer...
Leveraging health data in the intelligent automation of underwriting
Given the myriad of stakeholders along the healthcare journey - from doctors and pharmacists to nurses and hospitals- integrating the almost countless, disparate data sets to get a singular view of a consumer is a complex undertaking. By Simon Spurr, MD of Alula...
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. Banks in South Africa are increasingly using new technologies, digital solutions and data analytics to reimagine and enhance customer service...
Personalisation, automation are transforming wealth management
The financial services sector is currently experiencing a period of significant change and uncertainty, as central banks continue to battle rising inflation and interest rate increases. By Morné Fischer, founder and MD of xSMTHS At the same time, the Covid pandemic...
Collaboration between traditional banks, fintechs key for financial inclusion
According to a study by McKinsey & Company, digital financial services will potentially provide access to financial services for 1,6-billion people in emerging economies by 2025. By Andrew Weinberg, CEO of the Akelo Group The study found that these developments...
Modernising and regulating the SA payments industry
In the second half of 2022, the South African Reserve Bank (SARB) announced it has its sights set on stricter regulations for the South African payments ecosystem "to ensure financial stability in a world of increasingly innovative and disruptive technology". Though...
5G could curb cyberattacks at financial institutions
In the 2023 Budget Report, it was revealed that there has been a marked increase in cyber-attacks against financial institutions, the implications of which include business disruption, lost productivity, legal repercussions, and lasting financial consequences. "To...