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Tag Archives | Financial services

financial-advisor

Most South Africans satisfied with the advice they received from IFAs

The majority of South Africans who used the services of an independent financial adviser (IFA) have told a survey that they were either “satisfied” or “very satisfied” with the advice they received. This was one of the findings of the FSCA-commissioned 2020 Baseline Survey on Financial Literacy in South Africa. The 235-page report was published […]

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face-to-face

Human Touch plays huge role in Financial Services future

Despite digital technologies being set to significantly enhance processes, dedicated advisers and front-line staff will remain key within financial services According to Avaloq‘s financial industry report, front office staff such as client advisors and relationship managers will continue to be in high demand, particularly those that can blend digital expertise with strong client understanding. “Technology […]

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financial

Customer experience in the financial services industry – Focus not where it should be yet

The Ask Afrika Orange Index® is like the Oscars of the customer experience industry. The Index is South Africa’s broadest service benchmark which tracks, ranks and understands service and loyalty drivers based on robust, nationally representative sample sizes. “The Orange Index ranks brands from a service point of view,” Ask Afrika’s MD Sarina de Beer […]

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SM

What financial services content are consumers looking for on social media?

According to LIMRA, an international company specialising in research and education in the financial services industry, financial advisors could stand to benefit from having more of a presence on social media, especially if they are looking to work with younger consumers. Although their research is based on an American sample, the results can be educational […]

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Fintech.1

Fintech is the ‘new normal” – More than half of the customers are regular users

More than half of banking and financial services customers around the world use fintech products and services, according to a new global poll carried out by deVere Group. Of the 883 customers surveyed across Europe, Asia, Africa, Latin America and Australasia, 55% said that they “regularly use financial technology to access and manage their money”. […]

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Ethics

Business Ethics Survey – Financial Services industry represents a mature culture

The issue of ethics in South Africa has seen many challenges. Some of these are also relevant to the financial services industry. Various court cases and determinations illustrate ways in which financial advisors acted in an unethical manner. But what is the current state of affairs? The Ethics Institute (TEI) has just released its 2019 […]

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ombud

Financial Services Tribunal – When can I refer a FAIS Ombud determination?

In the past editions, we have published many articles on the outcome of various FAIS Ombud as well as Financial Services Tribunal decisions, highlighting legislation and regulatory requirements as well as many guidelines for financial advisors. But when can a matter be referred to the Financial Services Tribunal? What does a FAIS Ombud determination mean? […]

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Finance

Trust in financial services still low – Survey reveals critical factors

Companies in the financial services sector were again the least trusted among industries, according to the latest annual Edelman Trust Barometer, which has been measuring trust in business, NGOs, government and the media for the last 19 years. The online survey showed that globally, financial services only achieved a two-point increase over 2017. In the […]

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digitalsignature

Fintech – a catalyst for change in the insurance industry

Digital is the new norm for customers. Big tech companies like Google, Amazon, Facebook, and Apple have paved the way and as a result customers are expecting more from their financial service providers as well. FinTech is therefore disrupting the traditional financial services industry as it provides innovative solutions for convenience, accessibility, and tailored products. […]

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