Innovation doesn’t have to be collateral damage to FI legacy system budgets
Technology investment has continued apace and, according to Gartner, IT spending in the banking and investment services market is forecast to increase by 8,7% in 2024 and is expected to reach $1-trillion by 2028. But even with all this money being thrown at IT, many...
Evolving payments need evolving skills
In this dynamic age of payments, nurturing the right human-centered skills for the future workplace will have a profound impact on the industry, writes Roshan Moonsamy, chief financial officer at BankservAfrica. In recent years, new payment innovations have emerged,...
AI is transforming financial services
The financial services sector is taking its first tentative steps on its journey into artificial intelligence (AI) with the technology predicted to change everything from the way financial institutions detect fraud to the way they serve customers. By Dean Wolson, GM...
Digital wallets a game-changer for SMEs, sole traders
South Africa has seen a surge in the adoption of digital wallets and payments, fuelled by their convenience, speed, security and reach. Digital wallets are increasingly being adopted by South African small businesses and traders looking to move away from cash without...
Digital wallets a game-changer for SMEs, sole traders
South Africa has seen a surge in the adoption of digital wallets and payments, fuelled by their convenience, speed, security and reach. Digital wallets are increasingly being adopted by South African small businesses and traders looking to move away from cash without...
Kotani Pay obtains a CASP Licence
Kotani Pay has become what it believes to be the first on-ramp and off-ramp blockchain fintech to receive a Crypto Asset Service Provider (CASP) license from South Africa's Financial Sector Conduct Authority (FSCA). "This is an exciting time for the Kotani Pay team....
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...