The Science Of ...

Not fond of your bank/insurer/advisor? Cheer up! Soon you won’t need them...

I think the banks are very scared.

Stephan Lamprecht, Venture Solutions

Financial technology, also known as FinTech, usually refers to software that provides financial services.

FinTech companies are often start-ups founded with the purpose of disrupting incumbent financial systems and corporations.

The Money Show’s Bruce Whitfield interviewed Stephan Lamprecht (Consultant in Innovation Management and Commercialisation at Venture Solutions) for his weekly “The Science Of” feature.

Scroll down for quotes from the audio below.

An ATM is also financial technology.

Stephan Lamprecht, Venture Solutions

Players who aren’t banks are moving into the banking environment. The resources, however, are still slanted towards the banks.

Stephan Lamprecht, Venture Solutions

Disruption will come from entities that are not banks.

Stephan Lamprecht, Venture Solutions

I wouldn’t necessarily say banking is under threat.

Stephan Lamprecht, Venture Solutions

Banking is not going to be around in the long-term.

Stephan Lamprecht, Venture Solutions

Up to 50% of South Africa’s population remains unbanked.

Stephan Lamprecht, Venture Solutions

The Big Four banks find it difficult to compete with the simplicity that Capitec Bank brings to the market.

Stephan Lamprecht, Venture Solutions

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Eskom explains why we need nuclear (and why corruption shouldn't be a problem)

Eskom explains why we need nuclear (and why corruption shouldn't be a problem)

The Money Show’s Bruce Whitfield interviews Eskom Chief Nuclear Officer David Nicholls.

SAB Foundation has an R83 million fund to help your small business grow

SAB Foundation has an R83 million fund to help your small business grow

The Money Show’s Bruce Whitfield interviews The SAB Foundation Director Bridgit Evans.

'We need 50 brave souls in the ANC to vote with their conscience'

'We need 50 brave souls in the ANC to vote with their conscience'

"We know people are scared. They [ANC MPs] need to see that South Africa is behind them," says Sygnia's Magda Wierzycka.

People are flocking to ‘F*ckUp Nights’ to discuss bouncing back from failure

People are flocking to ‘F*ckUp Nights’ to discuss bouncing back from failure

The road to success is paved with f-ups. This movement connects people who share stories of failure and strategies for success.

Robots may resemble gods by 2045 (but they'll take your job long before then)

Robots may resemble gods by 2045 (but they'll take your job long before then)

Is it even possible to stay ahead? Arabile Gumede interviews Creative Counsel CEO Gil Oved.

Is the investment industry about to be ‘Ubered’?

Is the investment industry about to be ‘Ubered’?

From platforms that provide low-cost access to the JSE, to “robo-advisors” - the times they are a-changin’…

Popular articles
6 ways the new UIF bill benefits workers

6 ways the new UIF bill benefits workers

The broadened bill will see those who lose their jobs receive money for a longer period when they apply for unemployment benefits.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

‘My worst fear is being 80 years old and poor’ – famed actor Dr. John Kani

"My earliest memory of money is my father saying, ‘Why do you want to do this thing? How are you going to feed the family?'"

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

'Collect experiences, NOT possessions!' - Paul Theron (Vestact MD)

Bruce Whitfield interviews the razor-sharp tongued Vestact MD Paul Theron about his money hopes, fears, successes, failures, etc.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?