What’s Next — Old Mutual’s Brian Armstrong on what is needed to digitally transform the South African financial services industry

In this What’s Next with Aki Anastasiou interview, Brian Armstrong discusses the emerging technologies impacting the South African financial landscape.

Armstrong is an independent Non-Executive Director at Old Mutual and Professor in the Chair of Digital Business at Wits Business School.

He is regarded as one of Africa’s foremost ICT industry leaders and has over 30 years of top-level management experience.

Armstrong has served in several key positions, such as Non-Executive Director at BankservAfrica, Group Chief Operating Officer and Group Chief Commercial Officer at Telkom, and Vice President for the Middle East and Africa at BT Global Services.

He has also written several popular books on digital business, sharing his valuable industry insights.

Armstrong completed his BSc and MSc qualifications in engineering from the University of Witwatersrand, and also has a PhD from the University of London.

The interview

In this What’s Next interview, Armstrong discusses how technology is reshaping the landscape of financial inclusion in developing economies like South Africa.

He outlines the role traditional financial institutions play in the digital evolution of the financial sector, and reveals the most promising digital innovations helping to connect unbanked populations with financial services.

Armstrong then explains how fintech startups and established financial institutions can collaborate to improve financial inclusion, before unpacking the potential risks and challenges of rapid digitalisation in the financial sector.

He also unpacks the key policy and regulatory changes needed to support the digital evolution of financial services in South Africa.

Armstrong highlights the importance of mobile technologies and digital wallets in driving financial inclusion in underserved communities.

He concludes the interview by revealing how data analytics and machine learning can help create more personalised and accessible financial products for diverse populations.

Watch the interview with Brian Armstrong below.