Old Mutual’s Brian Armstrong on digitally transforming the South African financial services industry

What's Next with Aki Anastasiou

In this What’s Next with Aki Anastasiou interview, Brian Armstrong discusses the emerging technologies impacting the South African financial landscape. Armstrong is an independent Non-Executive Director at Old Mutual and Professor in the Chair of Digital Business at Wits Business School. He is regarded as one of Africa's foremost ICT industry leaders and has over 30 years of top-level management experience. In this What’s Next interview, Armstrong discusses how technology is reshaping the landscape of financial inclusion in developing economies like South Africa. He outlines the role traditional financial institutions play in the digital evolution of the financial sector, and reveals the most promising digital innovations helping to connect unbanked populations with financial services. Armstrong then explains how fintech startups and established financial institutions can collaborate to improve financial inclusion, before unpacking the potential risks and challenges of rapid digitalisation in the financial sector. He also unpacks the key policy and regulatory changes needed to support the digital evolution of financial services in South Africa. Armstrong highlights the importance of mobile technologies and digital wallets in driving financial inclusion in underserved communities. He concludes the interview by revealing how data analytics and machine learning can help create more personalised and accessible financial products for diverse populations