SA banking needs to create end-to-end SME solutions
While traditional banks express the intention to service SMEs, the inherent challenges faced financing SMEs means that the approval rate of disbursements remains relatively low, with outstanding loans to SMEs lower in 2020 than in 2016. SMEs' access to credit is a...
Digitisation is revolutionising the insurance space
The recently-released KPMG South African Insurance Industry Survey for 2021 has highlighted the role of disruption and innovation, with the majority of CEOs surveyed stating that they are looking to get on the front foot with regard to these twin challenges. Some two...
What if you haven’t planned for DebiCheck?
On 1 November this year, South Africa welcomed the introduction of the DebiCheck payment system to tighten measures against debit order fraud and abuse. But as with many new policies and procedures, there has been adoption, but it is far from universal. According to...
Xero, Investec launch digital bank feed
Small business platform Xero has partnered with Investec to give small businesses and their advisors access to financial data through a fully digital API-enabled bank feed in South Africa. The new feed is live now and is available to Investec private banking clients...
Fintech’s wave in SA is just starting to gain momentum
Looking at the current battle zones and where the next wave of innovation will emerge, C-suites have exciting options, but they must approach fintech correctly, writes Siphiwe Nodwele, MD of Yama Software. Fintech has lit a fire under start-ups and instilled fear in...
Intelligent technology streamline cyber insurance underwriting
Cybercrime is a rapidly growing challenge for businesses, one that is estimated to cost companies worldwide $10,5-trillion annually by 2025, up from $3-trillion in 2015. By Amritesh Anaand, practice lead for unified communication at In2IT Technologies South Africa is...
Unified insuree experience advantage key for insurers
With customers rapidly adopting digital communication channels that offer quick, simple and convenient processes, digitalisation of the entire insurance process is unavoidable. In fact, digital transformation for the insurance industry is no longer an option, but a...
SA start-up develops interest-free BNPL platform for existing credit
Home-grown fintech start-up Float has launched what it believes to be South Africa's first interest-free buy now, pay later (BNPL) product that uses a customer's existing credit. The product enables consumers to get their purchases upfront, and use existing credit to...
How technology can help SMEs get paid on time
For small businesses, late payments can be the difference between surviving or failing. This is something that local small and medium enterprises (SMEs) have been grappling with for years prior to Covid-19. However, the ongoing pandemic has only exacerbated this...
Humanising the digital experience will give banks an edge
Rapidly changing customer expectations and steadily increasing competition within the banking sector are forcing financial institutions to digitalise their operations, while at the same time ensuring that they humanise their digital experience to gain a competitive...
We need to level the playing field between cash, card and digital
What would happen tomorrow if we could turn South Africa into a cashless society with a wave of a magic wand? Far from turning the country into a crime-free paradise of low transaction costs and widespread financial inclusion, it's more likely that chaos would reign...
SA insurance industry almost ‘out of the woods’
The South African insurance industry has been invaluable to the economy, serving as a shock absorber and allowing many businesses to recover. This is among the findings of KPMG South Africa's annual South African Insurance Industry Survey for 2021, which polled 40...