FSCA & Prudential Authority Release Landmark Report on AI in South Africa’s Financial Sector
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Guest: Nolwazi Hlophe – Senior Fintech Specialist, FSCA South Africa
South Africa has reached a watershed moment in financial innovation. For the first time, the FSCA and the Prudential Authority have published a comprehensive report on how AI is being used across the country’s banks, insurers, investment firms, pension funds, fintechs and payment providers revealing a sector cautiously embracing new technology while navigating major risks, regulatory questions and skills gaps.
South Africa has reached a watershed moment in financial innovation. For the first time, the FSCA and the Prudential Authority have published a comprehensive report on how AI is being used across the country’s banks, insurers, investment firms, pension funds, fintechs and payment providers revealing a sector cautiously embracing new technology while navigating major risks, regulatory questions and skills gaps.
