The ability of challenger banks in Africa to leapfrog through technology, unencumbered by legacy systems, will cause a banking revolution on the continent that will leave traditional banks with a less forgiving future than what they could hope to expect. For the longest time, established banks seemed immovable from their perches. Their positions were solid and the cost to take them on remained pro... »
A range of models and millions of dollars in consulting hours are expended to understand the potential impact of a range of market forces on the retail banking sector. While the potential outcomes are fraught with unpredictability, it is worthwhile to pause and consider some of the forces that could have an impact to avoid being caught off-guard. Some of the major forces potentially playing out in... »
Banks are finding it increasingly difficult to reach and ensure value to their customers in light of the challenge by existing and new fintech competitors who are muscling in on the ‘offer’ – the point at which a customer’s process of research and assimilation culminates in the customer acting. Before our mobile and internet-driven world, customers would collect information, talk to friends, respo... »
Working in close collaboration with Innotribe, over one hundred judges from across the financial, technology, and investment communities evaluated close to 100 applications received for the third edition of the Startup Challenge in Africa. According to Innotribe, the applications came from 16 countries, with South Africa, Nigeria and Kenya dominating the list. The judges assessed the companies on ... »
This year will see three areas in the financial services sector impacted by technology. These are customer relationship management, the processes of banking and the regulatory environment within which these financial institutions operate in, in South Africa. From a broader economic outlook perspective, we will see heightened political influence as the country gears up for another round of election... »
Technology today touches nearly every aspect of consumers’ buying decisions, from researching which product to buy to paying for it. While this has transformed the retail sales experience compared to just a few years ago, merchants’ priorities remain much the same: driving sales, enhancing efficiency and delivering a top-notch customer experience. What has changed is that they must meet these goal... »
Vodacom customers, according to the company, can now buy airtime, data bundles and SMS bundles through the My Vodacom mobile application using Masterpass. To make a purchase, the company revealed that customers can load their payment card information into the secure app, select “pay with Masterpass”, and enter in their bank PIN to complete the purchase. The Masterpass vision, according to Vodacom,... »
An increased personal foreign investment allowance for South Africans; a volatile global economy; a see-sawing rand; South Africans’ growing comfort in transacting online – from booking hotel rooms, to ordering taxis, to banking transactions. These have created a perfect storm for the launch of a technology-powered, online foreign exchange (forex) transfer service, simple enough for anyone to use.... »
By now, anyone that’s involved in IT understands that today’s cybercriminals aren’t simply computer geeks attempting to crash websites and internet-connected devices from their homes. Instead, they’re experienced professionals that identify and execute ways to tap into the digital business world and steal sensitive data. Currently, the financial services sector seems to be in the crosshairs as muc... »
Kaspersky Lab experts have discovered a modification of the Gugi banking trojan that can, according to the company, bypass new Android 6 security features designed to block phishing and ransomware attacks. The modified trojan forces users into giving it the right to overlay genuine apps, send and view SMS, make calls, and more. It is spread through social engineering and its use by cybercriminals ... »
