Investec, BankservAfrica reveal blockchain-based ID prototype
Investec, in collaboration with BankservAfrica and uPort, have demonstrated a digital identity system anchored in the Ethereum blockchain. The initiative was born in the digital identity working group of the SA Financial Blockchain Consortium (SAFBC). The identity...
Spaza shop fintech closes a gap in R40bn cash market
It is estimated that the spaza shop market in South Africa is valued at around R40 billion per year and that 90% or more of the transactions are in cash. This market is growing at around 10% each year. Despite this statistic of unaccounted cash, South Africa's...
Nedbank app gets a virtual assistant
Nedbank has incorporated a virtual assistant into its banking app. HeyNed, a digital virtual personal assistant and concierge service, uses a network of more than 350 000 product and service providers to linking app users to what they need. In addition to the...
Making mobile wallets ‘stick’
Mobile wallets may offer some convenience, but until they offer a broad range of simple, seamless transaction capabilities, and give users more value than that of their cash alone, they will still lack consumer 'stickiness'. This is according to Kobus du Plooy, CEO of...
International fintech awarded SA trading licence
ThinkMarkets, a provider of online trading in financial markets headquartered in Australia with offices in the UK and Europe, has been awarded a licence by the Financial Sector Conduct Authority (FSCA) to offer electronic financial trading services to South African...
Sasfin takes equity stake in fintech lender Payabill
Sasfin has acquired a strategic stake in fast-growing fintech lender Payabill. Payabill, a 100% digital lending business, provides working capital and/or trade finance to small businesses. The collaboration between Sasfin and Payabill accelerates financing...
Tech innovation critical for insurance success
The evolving technology landscape provides insurers with unprecedented opportunities to grow their business. Ben Burger, managing executive at SilverBridge, believes 2019 will see the development of the ideal environment to integrate cloud, data analysis,...
Banking evolution accelerates in 2019
Jigyasa Singh, MD: financial services at Accenture Africa, and Alan McIntyre, senior MD and head of Accenture's global banking practice, delve into the 10 major trends driving banking in 2019. A decade after the global banking crisis 2019 looks like it could be a year...
Cryptocurrency predictions for 2019
The crypto economy celebrated its 10th birthday in 2018, reaching a total market capitalisation of approximately $138,6-billion. Despite a fluctuating market, leading global peer-to-peer bitcoin marketplace Paxful saw an upswing in activity driven by African...
Practical disruption in insurance
While there is much talk about the disruption of insurance through cutting-edge technology that will fundamentally transform the way the industry works, the focus should instead be on how it will improve the customer experience. This is according to Lee Kuyper, COO at...
Cloud vital for insurance growth
With the number of insurers using cloud computing services tripling over the last few years, those still undecided as to its relevance need to start making a serious investment into strategically understanding the impact on their businesses. Patrick Ashton, managing...
Remittances key to uplifting SADC’s slow growth
After a slowdown in recent years, Africa is experiencing an uptick in growth. West and East Africa are leading the way: Ethiopia is predicted to grow at 8,5% in 2018 while Cote d'Ivoire and Senegal aren't far behind at 7,4% and 7% respectively. By Andrew Stewart, MD:...