Despite South Africa’s advanced financial institution frameworks and rapid digitisation, income verification still relies on physical documentation. Consumers are required to find, download and e-mail documents at a time when the country faces significant fraud-related crimes.
In response to the growing demand for efficient and secure income verification, Comcorp, a software innovator and specialist in authentication technology solutions, has partnered with Sage, the global leader in integrated accounting, payroll and payment systems.
Biometrics has evolved to provide organisations across multiple key sectors with intelligent onboarding and security solutions, mitigating digital fraud and enhancing protection against threats.
Deepfakes are becoming a clear and present danger for financial institutions and they need robust strategies to protect their integrity and customer trust.
As we move into 2024, the technological landscape is evolving rapidly, introducing innovations and trends that reshape industries and redefine business-customer interactions and operations management.
The landscape of vehicle financing in South Africa is undergoing a significant transformation, especially in the context of identity fraud and money laundering. A critical aspect of this shift is the enforcement of the Financial Intelligence Centre Act (FICA), which now brings motor vehicle dealerships under stringent regulatory scrutiny.
CIO South Africa caught up with Bryan Orsmond, CIO at Comcorp South Africa, who revealed that a career in IT has always been intentional. He says he wouldn’t trade it for another profession, although burning rubber on the racetrack would be a close contender.
In today’s ever-evolving digital landscape, the concept of consumer consent has taken centre stage for companies. Gone are the days when consent was assumed; today, the control is firmly in the hands of the consumer.
One would think the whole process of applying for a home loan would be immune to fraud. Not only does the bank providing the mortgage bond send an assessor to check the property, there is also a buyer, seller, estate agent and at least one lawyer involved – and there’s the bond registration process at the deeds office.
