A persistent problem in Africa is the financial-inclusion deficit. With 11 million citizens in South Africa alone being either underbanked or unbanked, the need to gather them into the banking fold is urgent. Recognizing this imperative, innovative teams such as Nedbank’s Retail and Business Banking have prioritised customer-centric digital avenues to reach more customers, entrenching themselves as the money experts who do good and give clients back the gift of time.
Mainframe computers have enabled banks to manage huge amounts of financial data for nearly 70 years, but these legacy systems are today proving to be hindrances to progress. Lean fintechs are taking full advantage of today’s ground-breaking, agile technology, while established banks are struggling to transform their bedrock digital infrastructure for the new world. How are banks migrating to cutting-edge systems that will maintain them on their industry’s frontlines?
The Fourth Industrial Revolution, through which emerging technologies converge to push the boundaries into uncharted territory, has already begun, and data is the fuel that is powering it. Forward-looking banks are not just riding but driving the wave, discovering and implementing the many advantages that vastly improved multi-channel analytics of today’s deluge of data offers.
The Internet of Things (IoT) has the potential to become part of everyday life in areas as diverse as medical electronics, industrial automation, transport and practically any other field in which the availability of real-time information can be useful.
The Internet of Things (IoT) has been one of the technology industry’s hottest buzzwords for the past few years, but it seems that 2015 is the year the hype starts to become a reality.