Tag: FinTech

South Africa’s financial institutions are investing heavily in digital transformation, data capabilities and new financial technologies. However, technology alone will not determine which institutions succeed in the coming decade. Instead, leadership will serve as the real differentiator.

Small retailers are not under-digitised. They are over-apped. POS, stock, payments, loyalty and marketing all sit on different systems, each with its own login, cost and learning curve.

Digital and mobile-first banking has changed our lives for the better. However, it has exposed consumers and institutions to increasingly complex financial crime threats. Digital banking fraud now represents one of the fastest-growing risk categories in South Africa.

The rise of financial technology (fintech) in Africa is not just a story of innovation; it's a narrative about empowerment and transformation. As the continent continues to grapple with the challenges of limited access to traditional banking services, fintech has emerged as a beacon of hope, offering a path towards financial inclusion and economic growth.

The financial year to 31 March 2024 (FY24) saw the culmination of four years of strategic planning, with MultiChoice Group (MultiChoice or the group) now fully operational in its three core segments, namely video entertainment, interactive entertainment and fintech.

The integration of finance and technology, known as fintech, has revolutionised traditional banking and payment systems, transforming how we live, work and travel. Similarly, travel technology, or traveltech, has empowered travellers with convenient booking platforms and personalised experiences.

In the second half of the year, the Group made significant progress delivering on its strategic priorities, positioning it well for long-term value creation. The ongoing open ended repurchase programme is creating significant value for shareholders and actions taken in H2 to streamline operations have improved profitability. The Group has increased confidence in achieving its H1 2025 profit ambition, while continuing to deliver high growth.

In the second half of the year the Group made significant progress delivering on its strategic priorities, positioning it well for long-term value creation. The ongoing open ended repurchase programme is creating significant value for shareholders and actions taken in H2 to streamline operations have improved profitablity. The group has increased confidence in achieving its H1 2025 profit ambition, while continuing to deliver high growth.

In recognition of the increase in the adoption of digital channels by financial consumers, in late 2021 the FSCA published a Digital Banking Research Report on the state of digital banking activities in South Africa.

The pandemic accelerated an existing trend toward widely distributed workforces, set in motion by growing globalisation and digitalisation. This creates a number of challenges for companies in terms of managing these dispersed employees.