Tag: customer trust

Strengthening digital verification methods in financial services is essential to combat fraud, ensure regulatory compliance, and enhance customer trust in today's rapidly evolving digital landscape. Digital onboarding and real-time transactions are key to delivering a slick customer experience for financial services today. However, this open trading world has created gaps for financial criminals, including money launderers, terrorist financiers, and fraudsters, to exploit.

South African business leaders might be willing to invest in artificial intelligence (AI) to improve their business operations, but they are being held back by a crucial ingredient: technical skills. A recent snap poll we conducted shows that budget is not an issue, but a skills vacuum is.

For many business leaders, the heat is on. They face inflation, supply chain disruption, labour shortages, and pricing pressures. Protecting margins while meeting customer needs and navigating economic uncertainty is crucial. However, many lack transparency and granularity in actual cost structures.

In today's ever-evolving digital landscape, the concept of consumer consent has taken centre stage for companies. Gone are the days when consent was assumed; today, the control is firmly in the hands of the consumer. For those companies who handle consumer data, consent has to be a priority.

The evolution of consumer expectations in the insurance industry is reshaping the traditional insurer-customer dynamic. Customers are no longer satisfied with a one-size-fits-all approach; they are looking for a more personalised, meaningful, and continuous engagement with their insurance providers.

The fact that ransomware and cyberattacks have become increasingly prevalent is common knowledge, and this has raised greater awareness of the need for effective data protection. However, ransomware and other data breaches are not the only concern for businesses. Protecting data is essential, but managing it is equally important.

Data is immensely valuable to all organisations, a significant resource for the digital economy and the ‘cornerstone of our EU industrial competitiveness,’ says the European Commission. But its value is determined by how it can be protected and used by those who own it.

The world of financial services is changing – for the better. A multitude of virtual banking and payment options, cardless and accountless services, and now, Banking as a Service (BaaS) are making financial inclusion the norm instead of a privilege.

The future of fleet management in South Africa is supporting the need to reduce future fleet costs through direct cost savings or increased efficiencies and utilization gains. This is not simply restricted to fleet management but will be achieved in conjunction with technology advancements in service delivery and supply chain management activities.

Super apps, banking-as-a-service, behavioural banking and cyber security. These are just a few of the trends that promise to make the future of banking fast, frictionless, and personalised. The increasing prevalence of smartphones means that billions now have an entire banking system in their pockets.