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Future proofing banking through the power of data, APIs and automation

15Jul

By Africa BusinessNo Comments

Fintech

Future proofing banking through the power of data, APIs and automation

The global pandemic has ushered in a new paradigm for the Retail Banking sector, one which demands quicker transformation to a customer-centric service that is digitised, personal and convenient. A recent Financial Industries panel discussion held by Kearney, a global consultancy, shed light on how the power of data, Application Programming Interfaces (APIs) and automation could be leveraged to satisfy these expectations and invigorate the sector. Hentus Honiball, Partner at Kearney, maintains that large, traditional banks with complex, cumbersome operating models and legacy technology architecture are now being threatened by agile new fintech entrants. In contrast with the siloed, product-centric approach of traditional players, responsive new players are looking to build customer-centric...

Building resilience into the Supply Chain

The supply chain sector, and the adjacent global freight and transport spaces, are complex as well as crucial. A reliable supply chain prefigures a nation’s overall economic competitiveness and is a key enabler at the macro-economic level, as most other industries rely on the inflow of various goods. Since last year, the Covid-19 pandemic has caused major hurdles and disruptions for the supply chains around the world. Restrictions on non-essential commodities, additional health, and safety checks, and reduced staff levels led to bottlenecks and shortages of certain goods. In their attempts to adapt to these challenges, businesses are responding with ingenuity and innovation, often facilitated by rapid digitization. Given the looming threat of the pandemic’s 3rd wave, companies continue to ...

SA’s Transport sector in the age of Covid: A Roadmap to Economic Recovery

The South African transport sector entered the age of Covid already beset by several major challenges. Ageing infrastructure; a lack of impartial regulatory bodies; an unfriendly environment for private sector collaboration; over-reliance on roads for both public transport and freight; and a skewered subsidy model are a few of the structural obstacles that were present. Covid-19 has both highlighted and exacerbated these hurdles and must force the industry out of complacency. The challenges it faces must be viewed as opportunities with the problem areas providing a guide as to the solutions that can be delivered with maximum impact, where they’re most needed. A study conducted in partnership by Business for SA and global management consultancy firm, Kearney found that the already beleague...