Are cryptocurrencies the 21st century’s biggest fraud?
As of 5 May 2020, Tether was the world's most purchased cryptocurrency, with $56.16 billion in 24 hour trade volume. However, Tether did not appear in the list of top five cyptocurrencies by daily transactions in the same period, nor in the first quarter of the year....
Lombard Insurance improves cash flow reporting
Decision Inc has assisted South African insurer, Lombard Insurance, to overhaul a manual cash flow process with an automated one based on Workday Adaptive Planning, providing Lombard Insurance with an accurate and immediate overview of the financial status of their...
Fasta, Mastercard launch virtual credit card
Fasta, a digital lending fintech, has partnered with Mastercard to launch FastaCard, a virtual Mastercard credit card. The FastaCard gives South Africans access to instant credit loaded on to a secure digital card that can be used online and in-store. An authorised...
Standard Bank launches paper on Africa’s platform economy
Many African organisations are well placed to drive the next wave of innovation in the global platform economy, according to the findings of a report by platform economy expert Sangeet Paul Choudary and Standard Bank's Corporate and Investment Banking (CIB) digital...
Fintech, financial institutions find new ways to dance
Tom and Jerry. David and Goliath. Fintechs and financial institutions. I've watched this 'plucky underdog takes on industry giant' movie several times, writes David Reynders, chief technology officer at Merchant Capital. In 2020, it's profoundly different, though. 10...
Nedbank debuts tap on phone
Nedbank has unveiled its new tap-on-phone functionality that allows all merchants and business owners to convert their mobile phones into payment acceptance devices. Tap on phone makes it easier for small- and medium-sized businesses to use their compatible...
Research points to need for digital transformation
The Covid-19 pandemic is emerging as a powerful driver for digital transformation in the insurance industry, with a shift from an intermediated world to one of faceless onboarding and servicing. By Robin Wagner, senior vice-president: international insurance at...
Mama Money expands globally with Western Union
A rapidly growing local money transfer company Mama Money has joined forces with Western Union, enabling Mama Money customers to send money to their loved ones around the world via Western Union's Global Network. Mathieu Coquillon, co-founder of Mama Money, says:...
Risks and opportunities in the fintech world
Technological innovation in financial services is essential to staying in the game. But so is a considered approach to managing risk, writes Kevin Moodley and Christopher O'Flaherty from BDO South Africa. Fintech, regtech, wealthtech, proptech - it feels like every...
Customer satisfaction, value for money the deal breakers for life insurers
One of the biggest changes brought by the Covid-19 outbreak to the insurance industry is that of being a catalyst for customer-centricity and satisfaction in servicing. While most insurers strive for faster, flexible and data-led approaches, the appeal from customers...
FNB SpeedPoint terminals accept UnionPay contactless payment
First National Bank (FNB) and UnionPay International (UPI) have jointly announced that UnionPay cardholders will be able to make contactless payments with their cards via FNB Speedpoint terminals at merchants in South Africa. FNB becomes the first bank in South Africa...
Insurance brokers turn to technology
The Covid-19 lockdown has been a catalyst for brokers to accelerate their use of cloud-based technology platforms to manage client relationships remotely. Unlike ecommerce, which is very much in the public domain, Insurtech platforms have surged in relevance and...