The opportunity cost of insurance compliance
Regulatory compliance is a must for any South African business operating in the insurance market. The cost of operational compliance and risk management is substantial and is incurred across the business value chain which includes technology infrastructure, human...
SWIFT gpi extends bank competitiveness
Fifteen African banks have signed up to SWIFT's global payments innovation (gpi) service, the new standard for cross-border payments. Of these, four are already live - Standard Bank of South Africa, FirstRand Bank, ABSA Bank and Nedbank - and many others are preparing...
Managing predictive behaviour in insurance
Predictive and behavioural analytics enable better risk mitigation, fraud detection, and customer insight for insurers. Kelly Preston, data analytics manager at SilverBridge, believes this provides organisations with a better understanding of not only how to approach...
Briisk aims to digitise financial services
One of the first companies to enable insurtech and fintech solutions on one digital platform, Briisk has provided the technology to launch South Africa's first fully digital drone insurance, Drone Covered. The insurance, underwritten by Transact and Protect Insure...
Insurance industry gears up for PoPI
On 25 May, the European Union's new General Data Protection Regulation (GDPR) came into effect. The long awaited law changes the way in which companies are required to collect, store and process personal information, and affording EU residents better protection and...
Fintech culture transforms Africa’s FX landscape
Africa's fragmented markets and lack of legacy foreign exchange trading infrastructure means that the continent has become a melting pot of fintech activity and innovation. The evolution to electronic foreign currency trading in Africa, whilst slow to start, is today...
Insurance model requires digital innovation
Insurers must adapt to the new digital environment and provide customers with the same degree of customisation they receive in other industries. This requires the traditional insurance model to make way for strategies that incorporate a lifestyle-centric approach,...
Genasys, Hitachi Consulting to deliver Insurance in a Box
Genasys Technologies is working with Hitachi Consulting on its Insurance in a Box solution. Genasys will be providing the core policy administration system that has been combined with Hitachi Consulting's integration accelerator framework and advanced use of...
PPS launches financial planning platform
PPS has launched PPS Horizon, a web-based tool that gives guided financial planning and advice to investors, in a safe environment. The design architecture of this web based tool is the first of its kind in the country. It has been designed in particular for use by...
Decrypting blockchain and cryptocurrencies
Cryptocurrencies are dominating the media. This one has collapsed, that one is on the rise, and a new one is around the corner. Their flavour isn't quite as piquant today as it was yesterday thanks to fraud, an upsurge in Initial Coin Offerings (ICO) and the...
FNB unveils mobile banking for the underbanked
First National Bank (FNB) has announced the launch of eWallet eXtra, a mobile bank account that allows unbanked and underbanked South African consumers to use a feature phone or a smartphone to open a bank account without ever walking into a branch. eWallet eXtra will...
CaseWare Africa launches Modified Cash template
CaseWare Africa, a division of AdaptIT, has launched a template for the Modified Cash standard. The standard was developed by the Office of the Auditor General in National Treasury to mandate the principles by which national and provincial departments should present...