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...
Why banks should embrace super wallets
Traditional banks cannot avoid adapting to the new requirements and desires of their customers if they want to stay relevant. The focus, therefore, should be on creating a compelling mobile wallet solution that cuts across all situations in life. G+D's insights show...
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 merchants in...
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...
Angolan bank modernises to meet digital demands
Banco Angolano de Investimentos (BAI), the full-service bank in Angola serving more than 1,5-million retail and corporate customers, has modernised its technology infrastructure, enabling it to meet the increasingly digital demands of its growing customer base. With...
Pay@ partners with Stitch
Payments aggregator Pay@ has partnered with payments and data Application Programming Interface (API) fintech Stitch, allowing billers and merchants to easily accept secure payments from customers via Instant EFT. Additionally, billers and merchants will be able to...
Predictive data intelligence removes instant cross-border transaction hurdles over SWIFT
SWIFT has announced a new capability that uses its global intelligence on past cross-border flows to predict potential problems before new international payments are sent. The new service analyses previous flows on the SWIFT network to identify accounts that have been...
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 companies...
Absa Corporate and Investment Bank selects TCS BaNCS for custody business
Tata Consultancy Services (TCS) announced that Absa Corporate and Investment Bank has selected TCS BaNCS Global Securities Platform to transform and modernise its investor services offerings and enrich customer experience across the trade and corporate actions...
Embracing a digitally driven culture of innovation in insurance
Insurers have focused on ways to reinvent themselves for a digitally driven market where the customer experience has become even more of a priority than in the past. By Nelson Camara, go-to-market executive at SilverBridge End users are clamouring for self-service and...