Banks that partner with fintechs to enable a more open commercial ecosystem are the ones that will thrive in the new global financial future
A paradigm shift is happening right now in the global financial system that will change the way people bank, transact and interact economically. It’s bigger and more life-altering than most of us realise.
Fintech will also stop being a separate industry category, because every kind of business or brand you can think of will have fintech capabilities. This might include being able to process immediate or instalment payments, checking the digital identity of customers to prevent fraud, or offering tailored credit or insurance products to customers.
We had just started SA’s first pure and truly online bank, 20twenty. For a while we shook up the industry with our focus on customer experience and, proving there was appetite for tech in finance, quickly built amazing customer numbers and loyalty before our sponsor bank, Saambou, went into curatorship as an unintended casualty of SA’s second-tier banking crash in 2002.
In the last 10 years a whole new segment of players have found multiple ways to connect the old world of finance with the new world of internet-powered technologies. Financial institutions started embracing digitisation and other big companies have embraced fintech innovation.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eight feared dead as tourist helicopter crashes in Russian far eastA helicopter, carrying tourists on a volcano sightseeing trip in Russia's far east crashed into a lake on Thursday.
Read more »
12 dead as fishermen, herders clash in CameroonThe violence, which is rare between the two communities, erupted on Tuesday in Logone-Birni in the Far North region, a tongue of land wedged between Nigeria to the west and Chad to the east.
Read more »
SAHRC commissioner wants Cape vagrants to clear out cemetery, dead to be at peaceAfter numerous complaints the SA Human Rights Commissioner Chris Nissen has vowed to personally ask vagrants next to the Johnston Road cemetery to clear out, and to respect the dead.
Read more »
Four suspects linked to taxi organisation to appear over Citrusdal double murderFour suspects have been arrested after two men were shot dead on a bus transporting farmworkers in Citrusdal, 177km from Cape Town.
Read more »
'She left us for work and had to come out in a plastic bag': Family of murdered warden wants answersThe family of correctional services warden Eunice Moloko has described how they found her dead inside her office in the Leeuwkop prison in Johannesburg on Tuesday night.
Read more »
Rules for generation of 100MW finally gazettedThe long-awaited publishing of guidelines opens the way for the private sector to invest in power projects that can generate as much as 100MW without requiring a licence
Read more »