Check out the Reserve Bank's top 12 fintech solutions
JOHANNESBURG – The SA Reserve Bank (Sarb) said on Thursday that it had shortlisted 12 innovative and sustainable fintech solutions for the Global Fintech Accelerator @Southern Africa, which will showcase their solutions at the Fintech Demo Day on October 29.
1. Ctrl – an independent car and household insurance advice app, where individuals can receive and accept quote options from a variety of insurers on their cellphones.
2. e4 Strategic – Virtual Identity, a business app released by e4, is a web/mobile service where the client can complete the Fica process remotely by submitting evidence of identity, which is verified against external data sources and/or an agent, fulfilling all regulatory obligations. Its RealRes solution confirms proof of residence through data verification and matching, geolocation verification and matching, and image and optical character recognition processing.
3. Emerge Analytics – an advanced data analytics solution that helps clients navigate and optimise corporate data to deliver better answers, new insight and improved profitability.
4. Hydrogen – accelerates digital financial innovation by enabling organisations to build unique solutions and products across savings, investment, wellness and insurance by configuring the relevant combination of application programming interfaces and business logic.
5. The MindBridge Analytics’s AI Auditor platform – automates the ingestion and analysis of data, and learns from user interaction to identify fraud. Leveraging machine learning, artificial intelligence and natural language processing, 100 percent of transactions are reviewed and results are easily searchable.
6. Nimbla’s digital insurance platform – designed to protect small- and medium-sized businesses against insolvent customers by insuring invoices against non-payment.
7. Paycode – provides financial service access to the unbanked by giving them a biometric identity. Through its technology, Paycode provides solutions that enable, among others, a national payments infrastructure, social grant distribution, international remittances, card payment infrastructure and token management systems.
8. Sedicii – monitors customers’ bank remittances for anti-money laundering through multi-party collaboration without sharing data, while remaining fully compliant with the General Data Protection Regulation and other regulations.
9. Strands – digital banking solution helps small- and medium-sized enterprises to better run their business, while helping banks to better understand and serve their business customers through smarter lending.
10. The Tautona AI platform – automates decisions with artificial intelligence, machine learning, data mining, business rules and analytics to help insurance companies identify which claims can be automatically processed, and which should be handled manually.
11. Ukheshe – empowers informal merchants, traders, street vendors and casual labourers to accept real-time digital payments from cardholders or different payment apps, without needing to have a bank account.
12. Wealth Migrate – drives financial inclusion through a blockchain-enabled global online real estate marketplace that allows people to invest and diversify in global real estate for $1 000 (R15 296).