It’s not about big data, but big decision-making
In the days before big data, people used to run their businesses based on 'gut feel'. Many still do, writes Minnaar Fourie, commercial director at King Price Insurance. Then along came a tsunami of data, and suddenly everyone thought all their decisions were taken...
The importance of alternative data in a tough lending environment
The devastating economic impact of Covid-19 has created a much tougher lending environment for credit providers that now need to go far beyond traditional criteria when assessing risk and modelling future losses on credit granted. By Jaco van Jaarsveldt, chief...
Behaviour-based motor insurance with MiWay Blink
As the pandemic has dramatically accelerated the need for innovation in the global motor insurance industry, insurer MiWay and mobility risk intelligence company Zendrive, have partnered with system integrator DSG. Idle cars have raised consumer demands for fairer...
Here’s how financial services companies can benefit from eSignatures
The events over the past year or so, have forced financial services companies to rapidly adapt and evolve the way they interact with customers. By Brent Haumann, MD of Striata Africa Without being able to offer any kind of in-person experience (and people unwilling to...
Secure SD-WAN and its role in financial services
Financial services organisations have long dealt with the challenge of providing secure, robust, and cost-effective connectivity to their branch offices, which are often spread out across cities, states, and even countries. By Renee Tarun, deputy chief information...
Security, service assurance vital in financial services
The rise of the pandemic last year meant that corporates around the globe had to embrace a highly dispersed, virtualised environment to keep the wheels of business turning. This is now changing the way that banks need to move forward, with both their security as well...
Now you can pay small businesses via WhatsApp
Nedbank, in collaboration with Mastercard and Ukheshe, has launched Money Message, a payment platform that lets small and microbusinesses receive secure in-chat payments from their customers via WhatsApp. Believed to be a first in South Africa, the solution will...
Data breach financial implications of POPIA
Evolving cyber risks and the Protection of Personal Information Act (POPIA) has created a greater awareness of the financial impact of cyber risks, considering the fact that maximum penalties under POPIA are a R10 million fine or imprisonment for a period not...
Digital trends in the insurance industry
The Covid-19 pandemic has ushered in ample opportunities by accelerating the digital transition of tasks that were once considered mundane. By Kevin Wright, CIO of Santam Group In recognition of the importance of this, almost all players in the insurance sector are...
Fintech steps in where government and banks fail SMEs
Fintech has stepped in where most others have failed, providing small and medium enterprises (SMEs) with the support they need to scale and create jobs, while simultaneously making funding possible for micro-enterprises that have previously been excluded by mainstream...
The evolution towards continuous underwriting
One of the next-generation practices that insurers are looking to adopt to further differentiate themselves and add value to the customer experience is that of continuous underwriting. Kelly Preston, data analytics manager at SilverBridge Holdings Essentially, this...
Maintaining security is key during financial services DX
The financial services landscape is changing rapidly as banks face increasing competition from technology-based financial services - from newly established banks to retailers offering mobile transactional banking accounts. By Sarthak Rohal, wice-president: IT services...