The transition to a contactless economy
The 2019 Future of Payments in South Africa report by Deloitte and Mastercard stated that "although 80% of South Africans have a bank account, most consumer transactions are still cash-based" and that a "relatively high share of consumers (45%) receive cash salaries"....
Stanchion fast-tracks JMMB’s customer experience and fraud initiatives
JMMB, a Caribbean financial group, has partnered with Stanchion Payment Solutions to reduce fraudulent card transaction activity and create new customer communication experiences. JMMB is the first bank to deploy the latest version (v3.0) of Stanchion's Digital...
Tech innovation can add value with tailored insurance solutions
Maintaining customer loyalty and business profitability are ongoing challenges for insurers. Many have turned to developing more affordable products. By Yunus Scheepers, chief technology officer at SilverBridge Holdings If anything, this has highlighted the...
Changing the fintech landscape
There is a new breed of agile, tech-driven start-ups that are fast changing the fintech landscape. Modern tech-savvy consumers are opting for financial service providers that can help them better understand their financial position and manage it accordingly across any...
The digital age is about delivering personalised advice
For many South African independent financial advisers (IFAs), Covid-19 disruptions saw them having to interact digitally with their clients for the first time. Now, virtual interactions with customers have become a standard expectation from many policyholders - and it...
Smart partnership experiences will define which banks thrive
Like the telecommunications companies, global banks are in a race to ensure they don't become a dumb utility, leaving the more agile fintechs to capture an increasing share of their digital-forward customers. However, while some banks remain fixated on owning the...
SWIFT broadens access with public cloud connectivity
SWIFT will enable financial institutions to connect to its network and applications through public cloud providers Amazon Web Services, Google Cloud and Microsoft. Customers will be able to connect to the SWIFT network through Alliance Connect Virtual - a new...
Insurance market embraces marketing and sales automation
Analysts expect insurers to focus on automating the marketing and sales functions. By Nelson Camara, go-to-market executive at SilverBridge Holdings By doing so, insurers can embrace a data-driven marketing approach which enables personalised campaigns that are more...
Guiding principles for zero trust in banking and financial services
When it comes to adopting a zero trust approach, many organisations in the financial services sector already have most of the constituent parts required. By Hila Meller, BT vice-president security: Americas, EMEA and APAC In fact, we estimate organisations already...
Digital banking key to reaching previously unbanked markets
Traditional bricks and mortar banks have been heavily disrupted by the emergence of digital banking in South Africa. By Sumit Kumar Sharma, enterprise architect and head of advisory services at In2IT Technologies These new entrants into the market have the advantage...
In insurance, technology and a human touch should work hand-in-hand
Ask most people which industries they think are the most innovative adopters of technology and it'll be a long time before someone says insurance. It's easy to understand why too. If the whole point of the industry is to reduce risk, why would it take a gamble on...
Cash is still king – but not for much longer
There are varying degrees of denial about the truth that cash won't be king forever. Of course, many regions around the world are well on the journey to full digitisation, while others, like Africa, are at a different point on this journey, but it's a journey they're...