Actionable solutions for FIs to fight money laundering
Far from a victimless white-collar crime, money laundering is a crucial enabler of corruption, drug smuggling, human and wildlife trafficking, terrorism, and other organised criminal activities. The role that banks, lenders, and other Financial Institutions (FIs) play...
Insurance companies can harness emerging tech for skills transfer
Insurance companies are increasingly turning to digital business models to position themselves for future success, with emerging technologies acting as significant drivers of efficiency and effectiveness in various key business areas. Rapidly evolving technologies,...
Financial resources management drives organisational value
In the post-Covid-19 era, cost containment remains a top priority for most businesses. This presents something of a challenge for data science departments seeking to recruit additional or replacement team members, as the value they bring to the organisation can be...
Navigating financial crime and regulatory challenges in cross-border transactions
According to McKinsey research, cross-border payments are a major revenue driver for payments companies and banks, representing worldwide flows of around $150-trillion a year. Remittances offer particularly attractive opportunities for money launderers, terrorist...
Why your bank isn’t up to the task of sending money offshore
South African banks love to promote their tech credentials. They'll incorporate any awards they win for innovation or tech integration into their marketing materials and race each other to introduce new app features. By Harry Scherzer, CEO of FutureForex For the most...
Insurtech expands market for comprehensive insurance products
In sub-Saharan Africa, 52% of adults save in some way, according to the World Bank. Over the last decade, South Africa has made positive strides in financial inclusion, and more than 80% of the adult population now has bank accounts. But real financial inclusion is...
How exporters can overcome cross-border payment challenges
Cross-border trade is a key driver of the South African economy, accounting for over half of the country's total exports. However, South African exporters face several challenges in receiving cross-border payments, including high transaction fees, currency conversion...
SA needs enabling regulations to allow AI innovation for cypto
The transformative power of artificial intelligence (AI) is no longer simply a hypothetical concept as the significant benefits of this technology are being realised across every facet of business, industry, and our daily lives. By Andre van den Berg, director:...
Collaboration key to unlocking fintech’s potential for financial inclusion
The rise of financial technology (fintech) in Africa is not just a story of innovation; it's a narrative about empowerment and transformation. By Chipo Mushwana, executive of emerging innovation and payments at Nedbank As the continent continues to grapple with the...
Blink by MiWay refreshes commitment to tech-driven car cover
In the last decade technology has reshaped the insurance industry for both customers and insurers. The rise of insurtech, technology-driven insurance offerings, has spurred rapid change. Pandemic lockdowns further accelerated the demand for technology-based services...
The SARB roadmap to digital payments
On 18 April 2024, the South African Reserve Bank (SARB) published its digital payments roadmap. By Lerato Lamola, partner at Webber Wentzel The document entitled Digital Payments Roadmap: Towards Inclusive, Accessible, Effective and Sustainable Digital Payments in...
How regulators are keeping pace with money laundering techniques
Regulators are moving fast to keep up with the ever-evolving techniques financial criminals use to evade detection of money laundering and terrorist funding. In turn, compliance teams at financial institutions need to be agile to keep up with the rate of change in...