Technology

Banking is like Formula One, says Valentin Stalf, co-founder and CEO of mobile bank N26. This observation came a day after Valentin returned from the famous Monza race track north of Milan in Italy, where N26 was invited as the Fast Companies Series partner by British Formula One racing team, Manor Racing. “Of course, it was very cool to see our logo there, but when you are on the grid and in the pit lane, you also realise Formula 1 is a big myth,” he says. “Just like banking, people think it is really complex. When you get closer to the action, you realise it is a group of normal people working on cars. We have debunked the myth that banking is very complex.” We chatted to Valentin about the practical steps an entrepreneur needs to take to turn a brilliant idea into a thriving business.

Local mobile payments startup Karri has partnered with Nedbank for the launch of its app, which facilitates payments for school activities and events.

The Competition Commission has recommended to the Competition Tribunal that the acquisition of MWEB by Internet Solutions – a subsidiary of Dimension Data – be allowed to proceed. The deal was first announced on 2 December 2016.

KPMG has acquired global FinTech innovation platform Matchi, which connects traditional financial institutions with technology solution providers. The platform includes more than 700 curated FinTech solutions and a database of more than 2 500 FinTech companies.

KPMG has acquired Matchi, a leading global FinTech innovation and matchmaking platform that connects financial institutions, including banks and insurance companies, with leading-edge financial services technology solutions and companies worldwide. The Matchi platform includes more than 700 curated FinTech solutions and a database of more than 2,500 FinTech companies .

Barclays has opened an innovation centre in London's hipster capital Shoreditch housing internal banking and technology teams alongside more than 40 FinTech startups. The bank says its new site is Europe's largest co-working space dedicated to FinTech and will play host to more than 200 hours of learning, workshops, hackathons and networking on a monthly basis.

Apple has announced financial results for its fiscal 2017 second quarter ended April 1, 2017. The tech behemoth posted quarterly revenues of $52,9 billion, falling below market expectations, and quarterly earnings per diluted share of $2,10. These results compare to revenues of $50,6 billion and earnings per diluted share of $1,90 in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue. iPhone shipments disappointed, with Apple stocks falling by as much as two percent in active after-hours trading.

Former UK government minister Mark Simmonds (pictured) has teamed up with FinTech veteran Hirander Misra on a venture that aims to help African smallholder farmers boost their earnings by connecting them with local commodity exchanges. The Financial and Commodities Ecosystem (FinComEco) says it wants to improve food security, economic diversity and financial inclusion by connecting farmers with exchanges, financial infrastructure and national economies.

The World Bank has launched an accelerator for African digital entrepreneurs. The five-month long XL Africa – which includes a two-week residency in Cape Town and the Venture Showcase pitching event – is backed Finland, Norway, and Sweden, XL Africa. Participants will be mentored global and local experts through a tailor-made curriculum, increase their regional visibility, and receive access to potential corporate partners and investors.

In order to meet the demands embedded in the future, banking will need to adapt. It will need to change the way things are done and bring the delivery closer to the rhetoric. In short, banks will need to rethink their traditional business models completely. Futurist Keith Coats, director at TomorrowToday Global, says it is time for banks to face their demons. Keith sheds light on the top three challenges banks are facing that will determine their future.

Startupbootcamp has launched its new Cape Town-based FinTech accelerator. This global industry-focused accelerator group has 18 programmes across 13 countries and has seen value in now setting up a footprint in Africa.

Today’s world requires innovation to remain competitive, and with the changing nature of consumers, businesses cannot afford to be on the wrong side of technology. CFOs need to be on top of tech.

Nasdaq, one of the world's leading providers of technology and services to the capital markets, has announced the launch of a venture investment programme, Nasdaq Ventures, dedicated to discovering, investing in and partnering with unique FinTech companies worldwide. The programme's main objective is to identify and collaborate on new technologies and groundbreaking services and solutions which align with Nasdaq's clients' needs and the company's long-term objectives in the global capital markets.

The internationally successful FinTech Academy kicks off in South Africa at The FinTech Academy Africa on 24 and 25 April 2017 at the Duke Corporate Education Leadership campus, Bryanston, Gauteng.

FinTech has become a truly global phenomenon, with hubs popping up in cities around the world, although established players such as London and Singapore continue to be the top centres, according to a report by Deloitte. The study is the second output of the Global FinTech Hubs Federation, an initiative by Swift's innovation arm Innotribe and the UK's Innovate Finance to create a cross-border and open platform that brings established and emerging hubs together.

Pan-African FinTech firm MFS Africa has announced that Michael Joseph (pictured) has joined its board as an independent non-executive director. Michael served as CEO of Safaricom in Kenya from 2000 to 2010, and is widely credited with spearheading M-Pesa, the world’s most successful mobile money service.

Stellenbosch-based FinTech Entersekt has scooped the Best Mobile Security Technology going in the Banker Africa Southern Africa Banking Awards for the second time.

Digital and data solution provider Keyrus has joined Finance Indaba 2017 as a silver partner and will make its debut at the event at the Sandton Convention Centre in October.

Root, an OfferZen initiative, and Standard Bank have teamed up to launch a lightweight bank account, which comes with a programmable credit card, online banking interface, mobile app, and APIs.

FinTech startup Voice IT took the honours at the Africa Fintech Foundry (AFF) 48-hour Recode Nigeria hackathon, sponsored by Access Bank, winning N1,5 million cash, as well as a year's access to the IBM Bluemix artificial intelligence platform and the Microsoft BizSpark developer toolkit.

North African startups are eligible for the SANAD Fincluders Startup Challenge in Amman, Jordan, on 3-4 May 2017 and its $15 000 cash prize. The challenge, which also includes Middle Eastern startups, aims to find innovative SMEs focusing on financial inclusion and follows the Arab Day dedicated to increasing access to financial services.

The FinTech Academy Africa, a collaboration between FinTech Circle and the Cape Innovation and Technology Initiative (CiTi), is set to launch in SA on 24 and 25 April, in Johannesburg.

Founder of personal management website 22seven Christo Davel has resigned, citing an Old Mutual decision to change strategy. 22seven was acquired by Old Mutual in 2013.

Accountants across the globe, like their colleagues in many other professions, may feel a tad insecure at the moment, as disruptive technologies and automation continue to make disciplines obsolete and shape the way we work. These technologies are no longer confined to manufacturing, but are beginning to redefine the knowledge economy as well. Machine learning, mobile and automated workflow solutions are having a huge transformative effect on the accounting landscape.

The Middle East and North Africa (Mena) is set to experience a boom in fintech innovation over the next three years, propelled by a large unbanked population, VC inflows and the rapid emergence of a host of new startups, according to a state of the nation report prepared by local payment services outfit Payfort and entrepreneurial platform Wamda. According to the report, the number of startups in Mena’s FinTech ecosystem doubled from 46 to 105 over the three years 2013 to 2015 and the region could see a total of 250 FinTech startups launch by the year 2020.

JSE-listed technology services company EOH has posted very good results, with headline earnings per share rising by 22 percent, and revenue that improved by 21 percent to R7.2 billion in the six months to 31 January 2016. Moreover, operating profit margins improved despite tough economic conditions, with profit before tax up by 26 percent to R845 million.

Mobicred is a simple and convenient credit facility that allows you to safely shop online with participating retailers. It charges interest rates comparable to those of credit card providers and only levies monthly fees while the account is used. When a buyer – who first undergoes a simple online registration process with Mobicred – pays using the facility, the seller will immediately receive the full amount, without the risk of payment reversals.

Financial inclusion, APIs, India, sentient fridges and blockchain technologies were all on the agenda as some of the continent’s leading FinTech visionaries applied their minds to the hot topic of the future of payments in the first FinTech Africa event of the year, held at Rand Merchant Bank’s Merchant Place campus in Sandton, Johannesburg, on Tuesday.

Global mobile research platform mSurvey, a global mobile-first research platform and Kenyan communications agency Safaricom have launched Consumer Wallet, a platform that quantifies offline consumer spending habits and trends.

FinTech startup Mama Money has announced the expansion of its money transfer service into Nigeria, Ghana and Tanzania.

Cubebucks is a virtual currency developed on blockchain technology that fixes the value of the qb digital currency to value in your local market against the price fix of gold on the London Metal Exchange against the dollar. The FinTech firm seeks to balance accounts in a combination of bank currencies, Bitcoin and gold reserves, that will secure the exchange ability of Cubebucks for Bitcoin or Vanilla currency value.

Three billion people around the world are underserved by the financial sector, with limited or no access to quality savings, credit, insurance, and payments.

Liesl McKay-Bebb heads up RMB's The Foundery, which was launched to create a space for innovation & disruption in the Fintech space and is the host of CFO SA's Future of Payments event on 14 March. We spoke to her about her work and how she sees the local FinTech space.

I Know First brings science and math to the financial world by providing daily investment forecasts based on an advanced self-learning algorithm. Developed by CTO and PhD-holder Lipa Roitman, the algorithm utilises artificial intelligence and machine learning techniques through which I Know First is able to analyse, model and predict the stock market.

Mauritius-based payment solutions provider Inter Payments Tech will be one of the FinTechs pitching at the FinTech Africa Future of Payments event in Sandton, Johannesburg, on 14 March. Topics of discussion relevant to the exciting and expanding space on the evening will include the the death of credit cards and systems enabling digital currencies. We spoke to founder and CEO Mark O’ Sullivan to find out more about the company’s activities and involvement in the event.

Accelerator Sw7, in partnership with the law firm Webber Wentzel, is set to launch its FinTech Innovation Africa roadshow in Cape Town and Johannesburg next week. FinTech specialists will be making presentations at various events at the Webber Wentzel offices in Cape Town and the SW7 workplace in Rivonia, Johannesburg.

Nigeria’s retail banking and payments sectors will be most disrupted by FinTech solutions, according to the PwC Nigeria FinTech Survey 2017.

South African-based mobile payment providers FinTechs Zoona and Wealth Migrate have placed in KPMG and H2 Ventures’s FinTech 100 for 2016 list of the most influential startups in the space.

CEO of Frankfurt-listed FinTech MyBucks Dave van Niekerk believes that both businesses and consumers do not fully recognise the the transformative power of technology.

Online investment platform Easy Equities, the overall winner of the African FinTech Awards in 2016, has launched the BizNews SA Champions portfolio. With innovative CEO Charles Savage (pictured) at the helm, the award-winning platform allows investors to buy fractional shares in leading companies simply and cheaply.

It may not seem like it at first glance, but properly thought-out Key Performance Indicators (KPIs) can be the difference between success and failure for your team and organisation over the long run.

The South African Reserve Bank has not precluded the possibility of issuing a national digital currency, which would likely harness Blockchain or Distributed Ledger Technology, according to a Moneyweb report.

Financial messaging service provider SWIFT Innotribe's Startup Challenge for Africa is open for applications. For the third year running, the Challenge will be part of SWIFT’s African Regional Conference (ARC) held in Abidjan, Ivory Coast, from 16-18 May 2017. ARC brings together policy-makers, industry leaders and the broader financial community from across the African continent. Typically attracting up to 500 delegates from around 40 countries, ARC is a unique forum for networking, education, discussion and debate and a great platform for FinTech startups to connect with the financial sector.

Pan-African banking conglomerate Ecobank, which boasts operations in 36 countries on the continent, has launched a FinTech challenge for African startups. The Ecobank FinTech Challenge provides selected startups with tailored mentorship from leading industry experts, funding of up to $500 000, a partnership with the multinational, and access to Africa’s biggest banking ecosystem, maximising exposure across the continent. The winner will also showcase their idea at Ecobank’s Innovation Fair.

One of Europe’s leading FinTech startups, Oradian, is set to open a branch in South Africa to foster entrepreneurial development in the region. It also has plans to expand throughout Africa.

The Dubai International Financial Centre (DIFC) and professional services firm Accenture are set to launch a fintech accelerator that will support startups from Africa, Asia and the Middle East.

African FinTechs received the lion’s share of the $129 million invested in 146 of the continent’s tech startups in 2016, accounting for a combined $31,4 million, according to Disrupt Africa’s African Tech Startups Funding Report. It was followed by the agricultural sector.

Renowned futurist and life-hacker Martijn Aslander is not one to mince his words or confront his audiences with sometimes brutal truths. He has earned a reputation for being one of the world's foremost thinkers on the age of disruption. For Martijn, it is no longer about what you own or what you know, but about your attitude and your ability to adapt.

Small business owners that don’t sell their goods or services online can now offer an online payment option to make payments much easier for their clients.

While other major European capitals play to Brexit fears in a bid to steal the UK's leading FinTech hub status, Belgium is taking a different approach by seeking to build a mutually supportive bridge between startups across both jurisdictions. A delegation led by Belgian finance minister Johan van Overtveldt recently crossed the channel to initiate talks with UK FinTech agency Innovate Finance on the establishment of a collaboration between the two communities and to announce the launch of a new Brussels-based hub to support financial technology startups.

"There is a lot of hyperbole about blockchain right now: blockchain will change everything and become the beating heart of finance. Finance is a big thing for blockchain. Banks have a lot of interest in the potential for cross-border remittances, for instance. There are many other applications. Blockchain can replace letters of credit and be used for smart contracts. I think it is going to create new business models and surprise us," says BankyMoon CEO Lorien Gamaroff.

The Overseas Private Investment Corporation (OPIC), the US Government’s Development Finance Institution has announced the financing of up to $5 million to support Unreasonable Capital Fund I. Unreasonable Capital is a venture capital firm that invests in scalable and profitable companies working to address social and environmental issues that improve the lives of people living in underserved communities across Latin America, India, Asia and Africa.

Nigeria’s FinTech space is growing from strength to strength and the West African nation is well on its way to becoming a hub on the continent, if developments over the past few years are anything to go by.

There is only one CFO position in a company and as such, it is a coveted spot, with many financial executives vying to make the shortlist. How do you know if you are CFO material and if there is anything that will stand against you when it comes to the final reckoning? Here are five sure-fire signs that you can do the business.

Business advisory firm Cactus Advisors has closed its second and third investments of CY 2016 into African fintech startups Flutterwave and E-Factor.

Cashless Africa will address the future of finance at the Lagos Oriental Hotel, Nigeria, from 22 - 23 March.

FNB has long been lauded as the most progressive of South Africa's big four banks and it has received global recognition of its innovative and digitisation initiatives. The bank added another award to its bulging trophy cabinet at the African FinTech Awards at the Finance Indaba Africa 2016 in October, beating Absa and Standard Bank to the honours in the Incumbent Bank category. But while FNB may have enjoyed much success over the past few years, according to CIO Peter Alkema, it is certainly not resting on its laurels.

The British Embassy in Cairo is pumping a million pounds into the thriving Egyptian tech landscape in a show of support for the North African nation's entrepreneurs.

Boloro, a New York-based technology company known for its globally patented, multifactor mobile authentication technology and mobile payment platform, has launched the first in a series of new, global products in South Africa to help eliminate fraud.

On-demand alcohol delivery app Bottles has successfully navigated the stringent demands of popular reality series Shark Tank SA and emerged with investment of R500 000, after The Creative Council co-CEO Gil Oved bought a 10% stake in the business.

Y-Combinator-backed Nigerian fintech Paystack has closed on $1.3-million in seed funding from the likes of Tencent, Comcast Ventures and M&S Partners.

Africa is a continent of over one billion people, 54 countries, vast land mass and a multitude of languages, customs and cultures. Panelists at the Africa Technology Summit held in Lagos, Nigeria, by the Meltwater Entrepreneurial School of Technology earlier this month agreed that Africa's diverse markets and the need to adapt to individual circumstances remain a stern challenge for tech startups looking to expand across the continent.

While many startups have the long-term aim of going global, real estate investment firm Wealth Migrate already boasts a presence on five continents with investors in 84 cities on its globally compliant platform. At the African FinTech Awards at the Finance Indaba Africa 2016 in October, Wealth Migrate CEO Scott Picken explained how his company aimed to solve one of the world's most pressing challenges: bridging the global wealth gap. While 49% of the world's wealth is held in real estate, only 12,9% actually have access to property and less than 1% retire wealthy, according to Scott.

Visa, in partnership with Hong Kong-based venture capital firm and incubator Nest, to run a four-day fintech bootcamp in Nairobi, Kenya, for innovative startups in Africa.

Big Four financial institution Standard Bank has bought a majority stake in Firepay, which produced the SnapScan quick payment app in partnership with the bank in 2014. SnapScan, which allows users to make payments from their mobile device by scanning a QR code, now has more 32 000 physical and online merchants onboard.

The level of economic growth is the number one driver of change in the public sector, according to the latest report in the Association of Certified Chartered Accountants’ (ACCA) Professional Accountants: The Future series.

“We have a completely different approach to financial services. We take what we do seriously, but not ourselves, so we have a lot of fun with our customers. Despite the fact that investment is a very serious discussion, it doesn’t need to be a boring and staid experience," says Charles Savage, CEO of Purple Group, a gold partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.

According to global financial services giant KPMG, more than $200 million has flowed into the Nigerian FinTech space over the past two years. It called on the Nigerian government to take the initiative to further increase investment by proving incentives and a welcoming regulatory ecosystem at a summit entitled The FinTech Disruption – Understanding the Value Proposition at the Eko Hotel and Suites in Lagos.

Merchant West, an authorised financial services provider specialising in business finance and advisory services, has been awarded a AAA rating by the leading international rating agency, Standard & Poors. This is the highest credit rating that can be afforded to a company, country or structured finance transaction. In light of this, Merchant West can now officially list its bonds on the JSE.

After just two years of development, online savings platform ADDaBIT has managed to attract the interest of financial services behemoth Sanlam. The basic premise is that users choose what they want for their children – education, gifts, etc – and ask friends and family to contribute whenever they are able. There are no penalties, monthly fees or minimum payments, and users earn a competitive rate of return on their investment.

Africa has a huge untapped potential for solar power generation and initiatives that electrify businesses and impoverished communities could help the continent meet its economic development goals. At the African FinTech Awards at the Finance Indaba Africa 2016 in October, The Sun Exchange CCO Morwesi Ramonyai talked about the revolutionary bitcoin-based investment scheme that is filling the gap between large-scale solar farms and solar-powered lamps and other items.

Fintech Circle Innovate, a London-based fintech accelerator, has joined forces with the well-established Cape Innovation and Technology Initiative to stimulate growth in the local sector as well as fintech development in the rest of Africa.

Donald Trump’s shock victory in the US elections has sent shockwaves around the world, causing volatility in many key markets. FinTech is not immune to the effects of the Republican candidate’s ascent to power and commentators believe there are choppy waters ahead for US firms.

Johannesburg-based AdvanceNet has signed up as a partner to the Finance Indaba 2017. Launched in 1987, AdvanceNet offers sophisticated business solutions in more than 30 African countries across a number of industries, including mining, financial services, telecommunications, logistics and the public sector.

The historical victory of Donald Trump in the US elections has taken the world by surprise. In the next few days, weeks, months and years there will be countless analysis, debates and studies to explain why hardly anyone saw it coming. CFO South Africa Editor in Chief Joël Roerig doesn't want to wait that long and has listed six important lessons South African CFOs should learn from the property baron, tv-star and president-elect.

Purple Group has become the first gold partner to join Finance Indaba 2017, after a successful showing at this year’s event. Headed by CEO Charles Savage, the group offers accessible investing and trading solutions for the man on the street, from fully managed investment solutions to DIY trading and investment platforms.

The biggest failure in business is that failure itself is not accepted and it is something to be shunned upon said Easy Equities CEO Charles Savage. Teach your staff to accept failure, said Charles during an inspirational session at the Finance Indaba Africa on 13 October 2016.

What is the cost of not knowing? Perhaps that is the most important question in business today.

In a Volatile Uncertain Complex and Ambiguous (VUCA) world, management accountants are expected to provide better support for decision-making, performance management and ongoing ‘insight’, in the form of financial and non-financial data. According to a latest CGMA research, ‘Business analytics and decision making – The human dimension’, analytics has little to do with technology. It is people, not technology, who give data meaning. While there may be technical issues to address, such as getting access to data, combining data sets or integrating financial data with data generated from social media or ‘connected things’, no analytical tool can do more than augment or complement what is a cognitive and sometimes social process. Generating insight is an inherently human trait. Thus, business intelligence resides not in the data warehouse but in the minds of people.

It is estimated that 330 million adult Africans lack access to basic financial services. In the face of an outstanding opportunity, an ecosystem of FinTech startups providing payments and money transfer solutions have grown to transform a cash-heavy payments industry on the continent.

Thomson Reuters has launched its newest Data and Innovation Lab, located in Cape Town. The lab will see Thomson Reuters engage with the region’s vibrant innovation ecosystem and dynamic start-up community. The Labs have two primary objectives: innovation and partnership. Innovation will come through driving creative conversations with customers and partners through open events and rapid prototyping, while partnership involves collaboration and co-creation with startups and other partners to put new technology and business models into practice. Mona Vernon (pictured), vice president of Thomson Reuters Labs, said:

We’ll never again have economic growth like we have known before, says Martijn Aslander. And that’s okay...

“One ERP is not about creating a utopia, but using technology to create an illusion of a single interface for things like cash and shared service centre management. Robotics is fantastic – we have a lab in Germany dedicated to playing around with – but most robots today only fix things that are broken.”

Easy Equities is the overall winner of the 2016 African FinTech Awards at the Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016.

Cube Bucks, The Sun Exchange and Bankymoon went head to head in the hotly contested Blockchain & Bitcoin category of the 2016 African FinTech Awards at the Finance Indaba Africa at Sandton Convention Centre in Johannesburg on 13 October 2016.

Servicing the millions of unbanked citizens of Africa and bringing them into the mainstream economy through FinTech innovations – the mission of many startups – can thwart poverty and other social ills, as well as enable the continent to compete on a level footing with the rest of the world. This was the core message coming out of the opening discussion of the African FinTech Awards at the 2016 Finance Indaba Africa at the Sandton Convention Centre in Johannesburg on 13 October 2016.

"We understand the world of fintech through our mobile expertise and having launched a financial services product in a regulated environment," says Ahmed Cassim, Chief Commercial Officer of Hello Group, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"FinTech is completely revolutionising the speed, the scale and the cost of getting services to the people. This is transformational for Africa – and it is this transformation that drives Cellulant to continue realising this for millions of consumers and thousands of businesses," says Ken Njoroge, Group CEO of Cellulant, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

"A single platform can become the main source of information for all digital channels, not only enabling banks and other financial institutions to offer their clients an engaging experience, but also solving simple problems related to the integration of data and reducing infrastructure costs," says Jakub Piotrowski, CRO and Head of Customer Engagement at Meniga, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: The Future of FinTech, an exhilarating programme on 13 October 2016.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Finance leading with data and insight, a two-day programme opening up the world of analytics and technology.

Which three forex developments will be most significant for SA businesses between now and 2020? And Which import and export trends should CFOs be aware of? Those are some of the questions we are asking Herman Bezuidenhout, CEO at trade and forex company BeztForex, a silver partner at the Finance Indaba Africa 2016.

"Cryptocurrency and 'click once' authenticated payments will be prominent in the future," says Thomas Pays, CEO of iPay, a simple, real-time EFT payment solution, that allows consumers to make secure, instant payments directly into a merchant’s bank account.

"CFOs have to have a deep understanding of these models and be creative around the understanding of the financial implications of the benefits and the risks to their businesses going forward," says Lenore Kerrigan, Country Sales Director for Sub-Saharan Africa at OpenText, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

The Finance Indaba Africa is THE place where finance professionals can get to grips with the latest and greatest technologies around. Besides well-established brands like SAP, Oracle and IBM, there is also space for a number of exciting, highly specialised companies. One of those is silver partner Larc AI. We spoke to Jannie Strydom, CEO of Larc AI about his message for finance teams.

The Finance Indaba Africa 2016 is almost upon us and it is time to start looking at what exactly lies ahead at the Sandton Convention Centre on 13 and 14 October 2016. Every day until the event, we will shine a light on the parts of the amazing programme. Today: Smart Finance, Smart Business a two-day programme about the power of technology.

"The Finance Indaba is an ideal platform for Linxus to engage with key decision makers by demonstrating the value we can add to any business through our software products," says Russell Glover, managing director at Linxus, a a gold partner at the Finance Indaba next week. We spoke to him exclusively. Why is Linxus present at the Indaba? "Linxus is a Software Solutions business that specialises in the building and implementing solutions that drive operational efficiencies, reduce cost and mitigate risk. Our focus is on delivering appropriate and responsible solutions that are developed and implemented rapidly thereby addressing current business needs in a time frame that enables businesses to grow and or reduce cost, ultimately driving profitability in your business."

Connect Africa Payments is a B2B technology solution, connecting various payment networks. Members of the hub are able to facilitate cross-network transfers. The Kenya-based FinTech company is a silver partner at the Finance Indaba Africa. We asked Caroline Cherotich to tell us a bit more.

With well 30,000 people voting and an elite panel of 40 judges helping to determine the eventual winners, the African FinTech Awards 2016 (#AFTA16) are shaping up to be a “mind-blowing success”, to quote the man behind the awards, Alex van Groningen.

What are the five hottest tech trends that finance teams should be aware of? Frank Rizzo is revealing all during a thought-provoking presentation at the Finance Indaba Africa (13 October 13.30 - 14.15 in Ballroom 4 of the Sandton Convention Centre). Here's an exclusive taster for readers of CFO.co.za.

“By show of hands, how many people in the room have begun a digital transformation project in the last 12 months?” CFO South Africa MD Graham Fehrsen asked the crowd during his welcoming at the first Johannesburg breakfast event hosted by CFO South Africa on 15 September 2016. Virtually every attendant raised their hands. “So everybody is here to discover why it is not working or how to improve the ROI,” he joked to appreciative chuckles.

"Credit bureaus have always played an important role within the financial sector providing information, solutions and services that ensure that creditors have the information and technology needed to make informed decisions." says Agata Szydlowska, Head of Financial Inclusion and CRB Awareness at Credit Info, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

From medical emergency drones, to self-driving vehicles to a Google Hangouts gathering of Archbishop Desmond Tutu in South Africa and the Dalai Lama in Tibet: technology makes amazing things possible, as long as we embrace it. During a breakfast event on 13 September 2016, the energetic futurist Craig Wing challenged, educated, inspired – and entertained – a group of CFOs and CIO from the public sector and asked them some hard questions about technology: “Do you see a threat or an opportunity?”

According to a new survey by the Chartered Institute of Management Accountants (CIMA), finance professionals are quite open to the recent rise of artificial intelligence, automation and robots. Badi Promesse (pictured), recently appointed CIMA Regional Director Africa, said:

Specialist data mining and recovery audit services company, Transparent, founded in 2000 and headquartered in Amsterdam, the Netherlands, has been acquired by Transparent Services BV – a newly established entity owned by investors with a background in investment banking and private equity. Willem-Jeroen Stevens (pictured), founder of Transparent, said:

We believe we have the formula for the right balance that allows you to empower business with self-service whilst ensuring strength and trust for IT." says Davide Hanan, chairperson of QlikView SA, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

It seems obvious. Ask the right questions about your business needs and the analytics solutions are going to be fairly apparent. And yet the complexities of modern businesses make this simple and obvious approach more challenging than expected.

How can public sector CFOs benefit from technology and help government work smarter? That is the central question during the public sector CFO breakfast at Castello Di Monte in Pretoria on 13 September 2016. "CFOs are invited to extend the invitation to their CIO," says CFO South Africa MD Graham Fehrsen. "That means we're doubling the learning!"

"It is clear that the techniques for detecting trends, and better predictions using Big Data, haven't as yet been mastered," says Chris Kamffer, director of Profectus Africa, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Technological advances are disrupting the status quo and creating huge turbulences. Businesses are converging and unforeseen competitors are emerging. It is all about creating disruption and staying ahead of the curve, which is rising at a rapid pace. And amid all this change, CFOs still need to create profits for their enterprises, writes Leslie Moodley, managing partner Global Business Services, IBM South Africa.

Since Trevor Hoole joined KPMG in 1975 he has witnessed the change in CFOs from “the traditional bespectacled back-office-person” to the modern money boss of today. We asked the CEO of our principal partner what it takes to be a successful finance leader in a world of change, big data, volatility, risks and cybersecurity. Here are Trevor’s insights summarised in nine burnings topics.

“We can help professionals by centralising procurement, simplifying ordering, improving efficiency, reducing costs and securing pricing, sourcing and qualifying new suppliers with ease and managing BEE, contract and all other documents online,” says Brett Cunnington, marketing director of ManageIt, a silver partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

An increase in cyber attacks targeting businesses and legislative requirements like the Protection of Personal Information Act (POPI) have brought attention to the need for effective data governance, says Yolanda Smit, Strategic Business Intelligence Manager at PBT Group. At its heart, data governance focuses on driving enterprise data management practices to the next level of maturity, where data is being managed intentionally and not just as an afterthought. Data security and privacy management, data architecture management, data quality management, records management, business intelligence, and data operations management are all vital elements in this new discipline of management.

"AdvanceNet fills the role of trusted adviser and introduces easily implementable enhancements to help organisations embrace the opportunities that technology has to offer," says Phil Hemsley, MD of AdvanceNet, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Leading global IT, consulting and business process services company Wipro has launched a three-year CSI project in partnership with South Africa’s Industrial Development Corporation (IDC) to set up 29 computer labs across South Africa, benefiting 28,000 students from rural areas. Gavin Holme, Business Head, Wipro Africa, said the company is committed to building a sustainable economy in South Africa, and that Wipro will be providing a broad range of hardware, software, connectivity, education and programme management resources.

To date, some 11,000 votes have been received (and just keep on coming), and as many as 200 companies entered into the African FinTech Awards. At present, the five top-scoring companies are Wala (1,200 votes), Vuga Pay (1,155 votes), Branch (980 votes), Yoco (420 votes), and MyBucks (358 votes).

"We can help finance professionals to improve their ability to better utilise their time, by automating and simplifying remedial processes like data collection, allowing them to spend more time on analysis," says Anna Puzone, the head of enterprise performance management at information management company Zetta Business Solutions, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.

Some 3,300 votes have already been received for the African FinTech Awards since the launch of the voting competition two weeks ago. At present, top-scoring companies include Wala (508 votes), Sureswipe (255), Wealthmigrate (217), Simplepay (204), Mobicred (178).

“Taking advantage of opportunities requires more creative thinking than simple analysis of data,” says risk actuary Stefan Swanepoel, the principal consultant for Directrix Risk Services, an actuarial and corporate risk management consultancy specialising in the pricing, financing and control of risks. Swanepoel has more than 13 years of experience in this field and currently consults to many of the largest South African companies, as well as many large international corporates. A fellow of the Institute of Risk Management and the Actuarial Society of South Africa, Swanepoel followed his father, a state actuary, into the profession after serving time in the military. He spoke to us about the impact of Big Data, risk management, the changing climate in South Africa and how it compares to foreign nations.