In The Know Vol.15 - Navigating Open Banking with Ukheshe

In 2024, open banking remains a transformative force, revolutionising the financial sector through collaboration and innovation. With regulatory clarity and technological advancements driving progress, it has become integral to modern finance. Institutions worldwide are leveraging open banking to enhance customer experiences, foster competition, and develop innovative products. Through seamless data sharing and the rise of new players, open banking empowers consumers and businesses with greater transparency, accessibility, and choice. 

Open banking revolutionises the industry by allowing banks to share customer data with third-party providers, utilising APIs for seamless integration. This collaborative model enhances customer capabilities while emphasising security through robust KYC procedures. 🔐 

Discover the future of banking with Eclipse, offering flexible KYC/KYB solutions for secure data sharing and empowering businesses with Open Banking and Banking as a Service. Join us as we lead the charge in transforming the industry and unlocking new opportunities for growth. 🚀 

Confused about Open Banking? Let's Clear it Up! 💡 Explore our blog to demystify Open Banking vs. Banking as a Service. 

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How AI transforms KYC into a continuous compliance powerhouse 

Perpetual KYC (pKYC) or continuous KYC monitoring uses AI and machine learning to constantly check and update customer data in real-time, without much human input. This keeps customer information up-to-date and improves the accuracy of customer checks, helping financial institutions stay ahead of evolving criminal tactics. Integrating AI into this process not only boosts operational efficiency and regulatory compliance but also gives institutions a better grasp of customer behaviours and improves their ability to manage risks. 

This article dives into the cutting-edge world of AI-powered continuous KYC monitoring and explores how AI revolutionises customer due diligence, streamlining onboarding, enhancing compliance, and mitigating risks. Gain insights into AI's transformative potential for efficient KYC onboarding. 

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Shaping the future of banking in Africa with EFT Corporation 

Africa has been hailed as a global leader in digital and mobile banking by the World Economic Forum. This rapidly evolving landscape presents both challenges and opportunities for business leaders. The upcoming 'Banking on the Future with EFT Corporation Limited ’ Conference aims to tackle these issues head-on. 

EFT Corporation, with its extensive presence across Africa, is uniquely positioned to navigate the continent's dynamic market. The conference will feature industry leaders discussing topics such as fintech innovation, digital transformation, and financial inclusion. Attendees can expect engaging presentations from renowned experts, including Prof. Adrian Saville , Jon Causier , Gabriel Swanepoel , Jamie Loden , Pieter van der Merwe , Damon Madden , Meagan Rabe and Neil Cosser .

According to Stephen Enderby , CEO of EFT Corporation, the conference will shape the future of digital banking in Africa, offering extraordinary opportunities for all participants. Carlin Wicomb , CCO of EFT Corporation, emphasises how this event shows EFT Corporation's commitment to driving digital transformation and offering tailored strategies for their customers. 

EFT Corporation asserts that they are "banking on the future," and invites others to join them on this transformative journey.  

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Pioneering fintech innovation and shaping the future  

Embark on Ukheshe’s transformative journey in financial technology, marked by innovation and inclusion. From pioneering solutions like the first QR payment card to impactful acquisitions, their story promises a glimpse into finance's future.    

In our latest blog discover how EFT Corporation is closing the gap in financial inclusion through embedded finance, showcasing their commitment to driving change and fostering growth in emerging markets. Join Ukheshe as they lead the charge in reshaping the fintech landscape, ensuring technology becomes a force for empowerment and accessibility for all. 🚀 

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