South Africa's BFSI business is rapidly expanding, driven by innovation and technology to improve service delivery and efficiency, as demonstrated by a leading banking institution that has successfully deployed over 100 robotic process automation (RPA) robots to automate a variety of operations.

This initiative has significantly increased efficiency while highlighting challenges in transitioning from third-party solutions to a custom-built RPA system. The organi- zation’s experience underscores the imp- ortance of addressing both technical and non-technical aspects during RPA deploy- ment to ensure a smoother integration process.

The integration of artificial intelligence (AI), machine learning (ML), and RPA is transforming processes in South Africa's banking, financial services, and insurance (BFSI) industry, resulting in improved service delivery. However, to realize the benefits of these technologies fully, it is essential to address talent shortages and employee concerns. RPA enables organizations to automate routine processes by simulating human actions, which enhances efficiency while maintaining a human-like interaction with computer systems.

Overview of the event: 

The 25th BFSI Innovation & Technology Summit will take place on November 20, 2024, in Johannesburg, bringing together over 200 leaders from South Africa’s banking and financial services industry. Dr. David Masondo, Deputy Minister of Finance for South Africa, will be the keynote speaker, sharing insights on how fiscal policies are shaping the future of the BFSI sector. The event, themed "Pioneering Tomorrow: Unleashing IT Excellence," will focus on aligning financial strategies with government priorities while driving innovation and financial inclusion.

The summit will cover important topics such as overcoming fiscal challenges, the rise of digital banking, the future of electronic payments, and the need for strong data privacy measures. With input from CTOs, CIOs, and cybersecurity experts, attendees will have the chance to learn, network, and collaborate on new ideas. This event will offer industry leaders a unique platform to discuss transformative strategies that will shape the future of South Africa’s BFSI industry.

Who will attend?

• Dr. David Masondo, Deputy Minister of Finance,The Finance Ministry,Republic of South Africa.
•  Luyanda Ndlovu, Chief Information Officer, Department Of Communications and Digital Technologies, Republic of South Africa.
•  Khetha Cele, Group Chief Information Officer, IDFC.
•  Mandi Scott, Chief Information Officer, Digital and e-Commerce Group, Personal and Private BankStandard Bank Group.
• Kholeka Tsotsotso, Chief Information Officer, Development Bank of Southern Africa (DBSA).

The event will cover topics like:

• CBDCs: Shaping Tomorrow's Financial Horizon.
• Transforming BFSI Operations with AI, ML, and Robotic Process Automation (RPA).
• Progressing in Digital Banking: Pursuing Excellence in South African BFSI.
• Sustainable Digital Transformation in South African BFSI: Addressing Challenges, Seizing Opportunities, and Ensuring Inclusive Growth
•  Exploring Future Possibilities: Utilizing Generative AI to Revolutionize BFSI.
•  Advanced Cybersecurity Solutions for the South African BFSI Industry.