Insurers must be creative to innovate in a highly-regulated sector
South Africa’s stringent regulatory environment that governs the financial services and insurance sector can make it challenging for companies to bring innovative technology, ideas and products to the market, but there are ways around this. This is according to Justin...
Digital disruption means modernising core systems in insurance
Digital disruption challenges insurers with innovative technology trends emerging around artificial intelligence and machine learning. Systems will have to be modernised if incumbents tap deeper into the existing market. At the same time, this provides significant...
Just going digital isn’t enough for selling insurance to younger customers
Digital transformation may be the latest buzzword driving digital adoption. And adopting direct-to-consumer digital channels is critical. But for insurers, just going digital isn’t enough to get the attention of Millennial and Gen Z consumers. By Louw Hopley,...
Upcoming Rapid Payments Programme (RPP) is good news for merchants and consumers
The highly anticipated modernisation of the country’s inter-banking payment system will not only boost financial inclusion but make it much easier, and cheaper, for consumers to pay both merchants and fellow consumers whilst boosting e-commerce sales says Andrew...
A new way of selling insurance
Moving from paper-based solutions to digital solutions has long been a goal of the insurance industry. By Jonathan Stewart, co-founder of Root It has been brought into greater focus by the post-pandemic reality that while more people are considering certain insurance...
Israeli bank turns to Stanchion for secure payments
Stanchion Payment Solutions has successfully completed HSM migration for one of Israel's top three banks. The bank has migrated from ARX hardware security modules (HSMs) to Futurex HSMs. HSMs power the bank's secure payments environments such as managing the...
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...