New mindset required for adopting new tech in insurance
According to McKinsey, the tech-enabled insurer of the future will bear little resemblance to the institutions that exist today. By Yunus Scheepers, chief technology officer at SilverBridge Holdings Digitalisation, cloud computing, robotic process automation, and the...
Unlock the power of hyper-personalisation to build more relevant banks
Realtime data and AI have made it possible to deliver curated content, services and products designed for individual customers, but many banks are unable or unwilling to embrace the opportunity offered by hyper-personalisation. There is no doubt that...
Payments processor adumo aims to promote SMME growth
With the consolidation of several leading fintech and payment solutions providers under the name, adumo, the largest independent payments processer in South Africa has been established and aims to promote growth for South Africa's small, medium and micro enterprises...
Data strategy is key to success in financial services
Even though concepts such as DevOps and MLOps have gained support in recent years, FinOps is a relatively new discipline that has yet to become generally practised. And yet, its potential to enhance financial services through a reinvented data strategy is significant....
A minefield of taxes lies ahead for crypto asset transactions
A gain on the disposal of crypto assets may be taxed as either revenue or capital, in line with the same income tax rules that apply to the disposal of shares or unit trust, writes Joon Chong, partner at Webber Wentzel. The gyrations of cryptocurrency markets have...
What do upcoming cryptocurrency regulations mean for your investment?
It was inevitable that, at some point, South African authorities would start regulating cryptocurrencies. While the South African Revenue Service (SARS) has long treated earnings from cryptocurrencies as income tax, the government has made it clear that it believes...
Banks must do more in the face of growing security complexity
As customers demand 24/7 digital access to banking in the post-pandemic reality, fraud and security breaches have become top of mind in this interconnected environment. By Ria Pinto: GM and technology leader of IBM South Africa For the financial services industry, the...
Why billers, retailers and banks should consider open finance solutions
Open banking, a relatively new concept in the field of financial technologies, is fast becoming a major source of innovation that is poised to reshape the banking industry – globally and in Africa. By Clinton Leask, head of Digital at Pay@ Open Banking is a capability...
Research firm names SAS as anti-money laundering leader
SAS has been named a Leader in anti-money laundering solutions by Forrester. The Forrester Wave: Anti-Money-Laundering Solutions, Q3 2022 evaluates the industry’s 15 most significant anti-money laundering (AML) technology providers, assessing and ranking them based on...
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,...