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South Africa: Sasfin establishes council for financial industry

June 20, 2019 • Finance, Top Stories

Sasfin establishes council for financial industry

Sasfin CEO Michael Sassoon.

Financial services provider, Sasfin has established a Digital Advisory Council to provide the market with expertise and insights on trends shaping the use of technology in financial services.

Headed by the founder of World Wide Worx, Arthur Goldstuck the Sasfin Digital Advisory Council, is an independent think tank that aims to help Sasfin and its clients decipher the fintech present and future.

“We have been investing in fintech development in-house and acquiring or integrating fintech start-ups,” says Sasfin CEO Michael Sassoon. “Over the last year we have built further digital offerings, integrated via APIs into leading businesses and invested in fintechs. We built and launched B\\YOND, an innovative digital business banking platform and SWIP, a digital wealth and investing platform. We have invested in Payabill, an online SME lender and DMA, a digital trading platform. We recently announced our alliance banking relationship, leveraging open banking, with Hello Paisa to offer seamless banking to the unbanked. We feel that there is a huge opportunity to improve the experience of South African businesses and savers through using technology. We have therefore created an independent forum to assess how to even better improve financial services for South Africans by leveraging the digital economy.”

The team appointed to the Digital Advisory Council is being selected for the breadth and range of knowledge they would bring to the table, with further appointments to the Council being announced soon. There will also be room for the Council to co-opt specialist expertise as it is required.

“The Sasfin Digital Advisory Council is broader than providing only the bank with a source of insight on how digital services are evolving and lessons from across the world,” says Sassoon. “Sasfin has been involved in fintech investing for many years and we are leveraging this experience as well as the experience of independent experts such as Arthur to provide insights and guidance to interested stakeholders in this space.”

Edited by Fundisiwe Maseko
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