The concept of open banking is forcing banks to reconsider the way they think about financial services and is poised to reshape banking as it’s understood today. Realising that this is the new frontier of banking, we are far advanced in our research into open banking, including its challenges and the opportunities it presents.
Even though the challenging economic environment is resulting in companies maintaining their focus on reducing costs, 2020 also brings with it many opportunities to grow the business. This can be attributed to developments happening in AI, BI and RPA that are starting to push boundaries this year.
For many enterprises, their siloed, traditional Supply Chain Management (SCM) systems are proving to be their Achilles’ heel when trying to operate in unprecedented circumstances, preventing business continuity and resilience.
The outbreak of global pandemics such as COVID-19 comes with a huge price tag. The South African Reserve Bank estimates the current nationwide lockdown will cost the economy about three weeks’ worth of GDP, or 5.8% of R5.3-trillion, which amounts to a staggering R300-billion.
Ever had that experience where you were chatting or texting someone about a topic and the next thing you know, you log onto your social media pages and find either an advertisement or suggestion on the very same topic? Well, this mystery is more common than you think.
With proven business benefits for adopting cloud computing, the prediction of the global marketing intelligence firm, International Data Corporation (IDC) that 90 percent of businesses will use multiple cloud services and platforms by 2020, comes as no surprise.
Businesses must release new, exciting digital experiences and products at higher velocities than ever before to remain relevant and continue to increase their share of wallet in this brave new world which we refer to as the post-digital era. This unprecedented pace of innovation has several unintended consequences, which, if not purposefully addressed, can erode trust and alienate customers.
With most of the world shut down to varying degrees in response to the global coronavirus pandemic, the importance of connectivity has been magnified. Without reliable connectivity, a country is doomed to languish on the wrong side of the digital divide.
Cyber security and privacy risks should be the top priority for any business at present, especially whilst trying to accommodate all staff in their new remote working environments. In the rush to get everybody working from home, security probably wasn’t top of mind and this presents a major threat for many businesses and people working from home for the first time.
In terms of risk versus reward, cybercrime is a highly lucrative industry. Research from Atlas VPN suggests that cyberattacks generate more than $1.5 trillion in revenue each year, and this figure is growing.