Trends shaping financial inclusion in insurance
South Africa stands as one of the most unequal societies in the world - underscoring the critical importance of financial inclusion in the nation's progress, writes Vis Govender, co-founder of Everything Insure and CEO of FirstEquity Group. Beyond growth and...
Network International’s on-soil payment platform goes live
Dubai-based Network International's cloud-based integrated digital payment suite, Network One, is now onboarding South African banks, MNOs and fintechs. In addition to the R500-million investment in the on-soil platform, the company has now announced an additional...
Key insights for succeeding in the insurtech world
Insurtech, a blend of innovative technologies that's disrupting traditional insurance processes, is reshaping the insurance industry. The goals of insurtech businesses include offering personalised policies, streamlining claims processes, reducing costs, to name a...
Is it too early for Africa to think about digital treasuries?
There are many challenges for treasuries across the world, in any market, but the developing world has an opportunity for a head start in the switch to digital. This is borne out by the fact that the adoption of best practice treasury management tools, technology and...
Digital tech improves claim management, CX
Getting an insurance claim processed can be an extremely frustrating and time-consuming process for both the broker and the client unless the insurer is clear on its communication with the clients and treats each client as a priority. By Debbie George, head of broker...
Peach Payments offers daily settlements for all merchants
Online payment platform Peach Payments now offers all its South African merchants free daily automated settlements. This means payments processed via Peach Payments will automatically be transferred to online businesses' bank accounts the next business day at no...
The role of banks in creating lasting value for customers
In the ever-changing economic landscape of South Africa, where interest rates have been steadily increasing and inflation levels remain uncertain, the collective sigh of relief when interest rates were not hiked at the end of July was almost audible. Unfortunately,...
Digital distribution will disrupt SME insurance
Insurance for small and medium enterprises (SMEs) has a reputation for being complicated, opaque, paper-intensive and expensive. Many SMEs believe that they get poor service and value for money from insurers; they're also frustrated by one-size-fits-all products and...
Is AI a game-changer for anti-money laundering compliance?
In the aftermath of South Africa's recent greylisting by the Financial Action Task Force (FATF), companies are now confronted with the imperative to address eight identified strategic deficiencies while simultaneously reducing their financial crime risk through...
Harnessing the power of data to drive financial and economic inclusion
The modern world has moved towards digitisation, yet a significant gap remains in terms of financial and economic inclusion, particularly in Africa. Despite this, there is a substantial opportunity to harness the power of data to bridge this gap and further the cause...
Dynamic pricing a potential gamechanger for insurers, customers
Auto insurance is leading the charge with the adoption of dynamic pricing, which entails developing policies that are more cost-effective for low-risk customers and using a different premium model for high-risk policyholders. By Ben Burger, commercial and new business...
What is perpetual KYC?
Know Your Customer (KYC) is a focal point of modern financial regulations, particularly concerning anti-fraud and anti-money laundering requirements. But KYC is even more valuable for managing risks with bad customers, speeding up transactions, and getting more...