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alphacode - News

  • Explore Data Science Academy, Alphacode seeks aspiring SA fintech entrepreneurs

    Do you have an idea that could make you South Africa’s most successful fintech entrepreneur? Are you looking to acquire the skills to launch a data-driven fintech business? Then Explore 10X is looking for you. The Explore Data Science Academy (Edsa) and Rand Merchant Investments (RMI) fintech division, AlphaCode, have announced a 12-month data science and business skills programme for 20 aspirant South African future fintech entrepreneurs. Successful candidates will go through an intensive six-month data science-training programme, where they will learn how to design a 10X business along with the core digital skills needed to build a fintech organisation. This...

  • Four top fintech businesses selected for AlphaCode’s R2.5m scale-up programme

    Four businesses that are shaking up financial services have been named as finalists in AlphaCode’s recently launched accelerator programme, AlphaCode Accelerate. AlphaCode is Rand Merchant Investment Holding’s (RMI) incubation, acceleration and investment vehicle that identifies, partners and grows early-stage financial service ventures. AlphaCode was founded to seek the next OUTsurance or Discovery. The first four fintech businesses selected for the AlphaCode Accelerator programme are: Entersekt, Livestock Wealth, Click2Sure and Invoice Worx. AlphaCode has partnered with scale-up accelerator 10X-e to provide a R2.5-million programme offering mentorship, expert guidance and support services to help these businesses on the path to scale and job creation. Dominique...

  • AlphaCode seeks next OUTsurance or Discovery, offering R16m in support

    AlphaCode, an initiative of Rand Merchant Investments (RMI), has set aside R16-million to identify a new generation of financial services entrepreneurs through its AlphaCode Incubate initiative. Explains Dominique Collett, head of AlphaCode and RMI senior investments executive,"The RMI board believes it is important to identify, partner and grow the next generation of financial services entrepreneurs so that the group can continue its legacy of innovation with businesses like Discovery, OUTsurance, MMI and FirstRand. "Because the South African financial services landscape is changing rapidly due to the rise of new technology, dynamic regulatory environment, increased cyber security risks and a different type...

  • Insurtech is transforming a staid South African insurance industry

    One of the hottest trends in South African fintech in 2018 is insurtech -- which has gained momentum over the last two years, says Dominique Collett, head of AlphaCode, a club for fintech entrepreneurs powered by Rand Merchant Investment Holdings. "It was initially seen as a major threat by insurance companies, but now insurers are taking a far more proactive approach to seize opportunities in this space and are starting to collaborate with startups. Exciting new models are transforming a staid industry characterised by opaqueness and outdated systems,” says Collett (pictured above). As millennials enter the market with different expectations, the insurance industry is...

  • 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...

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