No clear stance is hurting SA’s fintech sector
In the FSCA Intergovernmental Working Group (IFWG) research report it said they were also finding it difficult to find scale against the large companies that dominate the financial services sector.
The report said South African regulators had been slow to formulate and communicate a clear stance on the fintech industry. The aim of the research was to get a clearer understanding of the fintech market.
Fintech is technology-enabled financial innovation that can lead to new business models, applications, processes and products, and is transforming the financial services sector globally.
As a result of the research project, the IFWG said it planned to launch an online portal this year consisting of a fintech innovation hub and a fintech database.
Source: iol.co.za
