AI propels group insurance into the future
The group insurance industry is undergoing a massive shift. Driven by the snowballing adoption of wellness practices and artificial intelligence (AI) engulfing the industry, businesses are rapidly improving their employee benefits offerings as they fight to stay...
JSE launches tool to verify brokers
The Johannesburg Stock Exchange (JSE) has introduced 'Verify a Broker', an online tool designed to help people confirm if the stockbrokers and financial service providers they deal with are real and credible. The tool works by providing a consolidated view of the...
Insurer warns of hidden implications of drone use
In recent years, drones have transformed from military apparatus to infiltrating almost every type of industry under the sun, including agriculture. According to Industry ARC, South Africa's small drone market is experiencing rapid growth, and is expected to reach...
Root and TFG win Insurance Implementation Leader award
Insurtech Root platform and its customer TFG (The Foschini Group) have won the Insurance Implementation Leader category of the Intelligent ICT Awards Africa 2024. Last year, TFG moved its insurance book onto Cape Town-based start-up Root's digital policy...
Standard Bank launched rapid payments platform enabling Payshap
Standard Bank has launched a corporate rapid payments platform designed to offer corporate clients instant payments. The platform gives businesses the ability to receive and payout money instantly. Additionally, it enables them to onboard suppliers quickly as its not...
Security must-haves insurtechs cannot compromise on
As insurance businesses move from old tech to newer digital systems and products, they could be opening themselves up to security risks. Insurtech companies should be implementing strict, multi-level security systems to prevent the sensitive personal data their...
Fintechs should develop products that address the exact needs of their customers
All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions. Africa is no exception. By Mike Cook, Mukuru head of wallet and VAS, and Lorraine Nyawo, Mukuru head of product domain:...
AI could redefine cross-border payments
As the global economy becomes more interconnected, we're seeing an increased demand for innovative solutions for cross-border payments. This is where the transformative impact of artificial intelligence (AI) comes into play, writes Anthony Oduu, co-founder, chief...
AI and transaction monitoring: the next frontier
Compliance platforms are evolving with AI, automating transaction monitoring and flagging suspicious payments to improve the effectiveness of AML/KYC controls, writes James Saunders, co-founder and chief technology officer at RelyComply. The costs of financial crime...
South Africans prefer doing forex online – but banks don’t make it easy
Unless you have a peculiar fondness for queues, chances are you prefer doing as many day-to-day tasks that fall under the "life admin" category as possible online. By Harry Scherzer, CEO of Future Forex Whether it's grocery shopping, renewing your car license disc, or...
How insurtech unlocks business insights
Insurtech is fundamentally reshaping the insurance industry, introducing advanced data analytics to provide more accurate risk assessments, personalised policies, quicker claims processing, and targeted marketing. The result is a level of competitive advantage that is...
Don’t let innovation be a casualty of rapid digital transformation
While there is no doubt that banks around the world fast tracked their digital transformation plans as a result of the pandemic, a report from Accenture posits that the rapid growth in digital services may have negatively affected innovation in the sector. In order to...