Did you know? 80% of the money lent as unsecured credit in South Africa now goes to people earning over R15,000 a month, and so do 6 in 10 of the loans. Ten years ago...
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In a recent chat with a client โ an online lender โ we got talking about bank APIs, screen scraping, and what happened when Capitec withdrew access to consumer transaction data. For years, most of...
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In 2024, South Africans submitted 70.8 million applications for credit. Lenders declined 47.5 million of them. Two out of every three, and that ratio has been climbing for most of two decades – at the...
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The most dangerous AI output in financial services is not one that looks wrong. It is one that looks right, but isnโt. Over the past few months, clients have been asking us a fair question:...
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truID attended the Open Finance Africa Symposium held in Cape Town – an intimate two-day gathering of around 50 delegates hosted by Cenfri and CGAP. The room brought together regulators, policymakers, financial sector stakeholders, and...
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The transaction layer no one is talking about We tend to think about credit in South Africa through the lens of banks – mortgages, vehicle finance, large loans. But thatโs not where most of the...
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Financial inclusion in South Africa remains constrained despite widespread bank account ownership. Millions of South Africans can open an account, yet cannot meaningfully use that account to access formal financial services. An estimated 21 million...
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For decades, credit in South Africa has been built almost entirely on ๐ฏ๐๐ฟ๐ฒ๐ฎ๐ ๐ฑ๐ฎ๐๐ฎ. And for decades, that meant millions of good, capable consumers were misunderstood, mispriced, or excluded โ not because they were risky,...
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Branch credit applications are now at least ๐ฐร faster – 25-minute processes reduced to under 5-minute end-to-end assessments. Powered by truIDโs AI OCR. Despite all the talk about APIs and digital channels, the reality is...
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A ๐ญ๐ฌ % shift in financial inclusion could unlock more than ๐๐ฏ๐ฌ ๐๐๐ก๐ก๐๐ค๐ฃ in GDP growth for South Africa. Simply by giving people access to their own financial data. That is the quiet power of...
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