FinTech essentially encapsulates the intersection between the financial services industry and technology. The importance of FinTech is evidenced in the manner in which it is currently disrupting traditional financial models and structures. The disruption caused by FinTech offers both opportunities and challenges to large and small financial services companies in South Africa. The Introduction to […]
A ground-breaking, global study by Vitality and RAND Europe shows that an extra 15 minutes of walking daily could add close to 3 years to your life and grow the world economy by $100bn a year. The 23-country study assesses how different physical activity improvement scenarios may affect the economy of countries up to 2050, and shows […]
Loyalty programme usage has, over the past few years, been growing. In 2018, survey results from the BrandMapp indicated that 75% of South African consumers use loyalty programmes. But which loyalty programme is the best? Truth, a Cape Town-based loyalty and customer relationship management (CRM) consultancy has just released the results of SA’s first loyalty […]
Earners under 40 face an average insurance shortfall of around R1.4 million for life cover and R1.5 million for disability. This means the majority of SA’s earners are likely to be significantly underinsured. These are just some of the conclusions of the 2019 ASISA Insurance Gap Study. Announcing the findings of the 2019 ASISA Life and Disability […]
The Council for Medical Schemes (CMS) has just published its quarterly report for the period ended 30 June 2019. With the task to supervise a massive and very important industry comprising more than 80 medical schemes registered in the country, and vision to promote vibrant and affordable healthcare cover for all, it is vital to share key […]
The Council for Medical Schemes (CMS), in partnership with the Gordon Institute of Business Science (GIBS), has just introduced a new Trustee Development Programme for Board of Trustee (BoT) members of medical schemes. The Development Programme, pitched at NQF level 8 of complexity, will provide attendees with past and present developments in the medical schemes […]
SABRIC, the South African Banking Risk Information Centre, last week confirmed that the banking industry has been hit by a wave of ransom driven Distributed Denial of Service (DDoS) attacks, targeting various public-facing services across multiple banks. A DDoS attack is an attempt by criminals to crash a website by overwhelming it with a flood […]
According to the 2020 Global Medical Trend Rates Report released by Aon, employer-provided medical benefit costs in South Africa are forecast to rise by 10 percent in 2020, outpacing the annual general inflation rate by 4.6 percent. “The Medical Trend rate in South Africa for 2020 is expected to be slightly lower than the previous […]
“It is encouraging to see that the FSCA has made progress in its first year of existence, as evidenced in the pages of this annual report. The performance recorded herein demonstrates that the FSCA is hard at work on its critical roles of ensuring that financial customers are treated fairly and that the industry plays […]
The Pension Fund Adjudicator published her annual report last week. Besides the statistics, indicators and conclusions about challenges faced, the report shares a few case studies as an illustration of these challenges. One specifically highlighted is that funds and administrators are not faring well with regards to the Treating Customers Fairly (“TCF”) outcomes. “Members of […]
