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
Is the qualification real? Check out this ingenious, real-time verification tool

Is the qualification real? Check out this ingenious, real-time verification tool

The Money Show’s Bruce Whitfield interviews Logan Attorneys Consumer Law Specialist Stephen Logan.

‘Smart redistribution’ can make life better for everyone (including The Rich)

‘Smart redistribution’ can make life better for everyone (including The Rich)

Bruce Whitfield interviews UP's Prof Lorenzo Fioramonti about “smart redistribution”.

Many South Africans (rich and not-so-rich) are working more than one job

Many South Africans (rich and not-so-rich) are working more than one job

They’re called “slashers”, and they’re doing so for various reasons, explains Old Mutual Research Manager Lynette Nicholson.

How to make the workplace awesome

How to make the workplace awesome

Bruce Whitfield interviews Strive CBA (Companies Behaving Awesomely) founder and Employee Experience Specialist Andy Golding.

How accurate (or off the mark) stock pickers on The Money Show have been in 2017

How accurate (or off the mark) stock pickers on The Money Show have been in 2017

Bruce Whitfield grills three stock pickers he interviewed in January on the performance of their picks for 2017.

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
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.

Pamela Nomvete on her downfalls as actress, and 'climbing back'

Pamela Nomvete on her downfalls as actress, and 'climbing back'

This week Xolani Gwala's speaks to former Generations actor Pamela Nomvete for #WhatInTheWorldHappenedTo feature.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Meet the founder of Capitec Bank, named ‘Best Bank on Earth and Cheapest in SA’

Michiel le Roux speaks about the fascinating story behind the little bank that has the Big 4 shaking in their boots.

Best way to get richer (especially if you’re between ages 20 and 45)

Best way to get richer (especially if you’re between ages 20 and 45)

Still young(ish)? Consider the single best thing you can do to increase your wealth by much more than the inflation rate.

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?

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.