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alphacode - News

  • Regtech, the new fintech, driven by complex financial regulations

    "There are three elements driving interest in regulatory technology (regtech) in South Africa and abroad," explains Dominique Collett, senior investment executive at Rand Merchant Investment Holdings and head of AlphaCode, a club for fintech entrepreneurs. "These include customer demand for an enhanced experience, cost reduction and the simplification of compliance due to burdensome regulation in the financial services industry," adds Collet (pictured above) Regtech is innovative technology developed to address regulatory challenges. Whilst regtech focuses on compliance, risk management, regulatory reporting and transactions monitoring, the focus in South Africa has been on identity management. Most financial services businesses including banks, wealth and asset...

  • AlphaCode head calls on SA to become a fintech centre of excellence

    Dominique Collet, senior investment executive at Rand Merchant Investment Holdings and head of AlphaCode has called on the South African fintech scene to become "a centre of excellence". "Now that the South African Reserve Bank (SARB) has established a fintech programme to track and analyse developments, South Africa has all that is required to become a fintech centre of excellence," says Collett (pictured above). She believes the country has "an advanced banking and financial services system with a sound regulatory regime". "We have extremely competent regulators, top entrepreneurial talent and innovative businesses that are attracting considerable local and global investments. The missing puzzle piece...

  • Goodbye online crooks: SA startup keeps money safe till buyers, sellers both agree

    As online fraud in South Africa escalates, buying and selling goods using online platforms places both buyers and sellers at risk. After Jethro O’Brien, CEO and co-founder of TradeSafe.co.za, was duped while trying to buy car parts that had been advertised online, his idea for TradeSafe was born. TradeSafe is a licensed, independent fintech company that safeguards a buyer's funds in trust (escrow) until the seller delivers what was promised. Only once the buyer is happy with the goods or services received, does TradeSafe release the funds. Explains O’Brien, “We act as a buffer between a buyer and a seller. The...

  • South African fintech in 2018 – what can we expect? [Opinion]

    Fintech continues to surprise with little to touch the rise of bitcoin and cryptocurrencies in 2017.  This will continue in 2018 and I make some predictions based on what we see happening globally and what we see taking place with our members at AlphaCode, a Rand Merchant Investments club for fintech startup entrepreneurs. Bitcoin At the end of 2016 I predicted that 2017 was going to be the year that the world would embrace bitcoin. I thought it would go mainstream but I had no idea how mainstream it would become. We have seen the bitcoin price increase from $1000 at the beginning...

  • Four black-owned fintech startups each win R1m at Alphacode pitching event

    Four black-owned South African financial services startups each won R1-million last night at a pitching event hosted by AlphaCode. The event was held on 31 October and was run for the third time in collaboration with AlphaCode, a club for next generation financial services entrepreneurs powered by RMI Holdings. The Broad-based Black Economic Empowerment (B-BBEE) pitching event is an initiative of Merrill Lynch South Africa and Royal Bafokeng Holdings which seeks to identify and reward high potential South African fintech entrepreneurs to boost the development of fintech in South Africa. Monetary awards were made to four of the 10 black-owned financial services businesses which pitched. The four businesses, as recipients of the grant funding, will become members...

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