Mobile wallets are on the rise – but consolidation is coming
Digital wallets are emerging as a transformative force, poised to reshape the way businesses interact with their customers. These digital payment platforms are not only streamlining transactions but also unlocking a wealth of opportunities for organisations looking to...
New IT risk standard in force for SA Financial Sector
A hallmark of this era of rapid technological advancement and digitalisation of financial services is the ever-increasing reliance on third-party software suppliers. It’s a complex dependency that has expanded the threat landscape of South African banks, asset...
Curbing the emergence of deep fake scams: are insurance companies future fit?
The rapid emergence and development of artificial intelligence (AI) systems has become so prevalent a subject, it dominates discussions and dialogue across a broad spectrum of sectors that encompass the commercial value chain. By Zaakir Mohamed, director: head of...
Leverage AI to boost business
Current research shows that some 40% of global companies use artificial intelligence to enhance their business operations, and a staggering 82% of companies are either using or exploring the use of AI in their organisations. According to Andrew Maren, founder and CEO...
How FIs can stay ahead with advanced digital verification methods
Digital onboarding and real-time transactions are key to delivering a slick customer experience for financial services in today’s age. Yet this world of open trading has created gaps for financial criminals, including money launderers, terrorist financiers and...
Commvault, Pure Storage help financial institutions meet DORA requirements
Commvault has announced a joint cyber readiness solution with Pure Storage that can play a role in helping organisations comply with evolving and stringent regulations. For example, the European Union’s (EU) Digital Operational Resilience Act (DORA), slated to take...
Demystifying payment orchestration
In today’s fast-paced digital economy, the payments landscape is undergoing a dramatic transformation. Businesses are increasingly turning to innovative solutions to streamline their payment processes and enhance customer experiences, writes By Tripti Pande, payments...
Connected customers demand insurance brokers have a strong online presence
The world of financial services – like many of its industry counterparts, has become digitised. Customers’ behaviour and expectations have evolved along with this shift, with South Africans demanding the choice and convenience that can be accessed by purchasing...
Data resilience, not just backup, key in insurance industry
South Africa’s insurance sector is becoming increasingly digital, which improves turnaround times and customer service, but also brings with it new challenges. By Hemant Harie, group chief technology officer at DMP SA Insurance by nature deals with sensitive and...
AI isn’t one of insurance’s problems
While billions trust their lives and livelihoods to insurers every day, the insurance sector itself is facing an existential crisis. Record losses due to more frequent and severe natural disasters have skyrocketed premiums and deductibles. Carriers face significant...
Stanchion lends its voice to PCI security standards
Stanchion has joined the PCI Security Standards Council (PCI SSC) as a new Associate Participating Organisation, and will work with the council to help secure payment data worldwide through the ongoing development and adoption of the PCI Security Standards. The PCI...
A new global financial system could be closer than we think
Digital public infrastructure (DPI) is proving to be a transformative way to significantly improve the resilience of societies, drive economic growth, and enhance quality of life. Now, a new vision for an interconnected global financial system based on Open Payments...