EDITOR ’ S NOTE
Greetings to the readers of Intelligent CIO Africa . Globally the banking and insurance sector faces one principal challenge , and that is the ability to customise a solution in a timely manner for the customer based on their expectations and profile of risk , age , and stage of life . Using a legacy back office application , neither can a customer centric solution be produced in a timely manner nor can it be customised in an efficient and accurate manner .
Root has provided a seamless integration with both TFG and underwriter GuardRisk ’ s data infrastructures , guaranteeing fulfilment of operational , regulatory , and compliance reporting needs , while also providing users on-demand access to data on the Root platform as needed .
Turn these pages to read more on this fascinating use case inside Africa .
With no single dashboard to manage a customer ’ s requirement and profile and with siloed data spread across cumbersome legacy applications , the banking and finance industry has been in the process of modernisation for years and will continue to do so . Africa faces another challenge and that is the vast swathes of its population that fall into under-banked and non-banking segments of customer . This is both a challenge for uplifting the continent ’ s overall GDP and an opportunity for innovative banking and insurance companies .
Moving forward , in our well-thumbed Editor ’ s Question section , as the pace of digital transformation picks up , what are the tools of the trade that African CIOs must master and what are likely to be their principal challenges going forward ?
Top executives from Barracuda Networks , ManageEngine , Epicor , Omnix International , Qualys , Veritas Technologies , SolarWinds , recommend the technologies and tools African CIOs must master and key challenges to circumvent .
One such example is South Africa ’ s TFG Insurance , which has been offering its customers insurance since 1994 . Using legacy applications required TFG ’ s back-office staff to work across multiple platforms with disparate spreadsheets and reports . TFG began investigating re-platforming and innovation for its insurance platforms as its customers ’ needs evolved . TFG published an RFP to identify a partner , and Root proved to be a best fit for the requirement .
All of this and our range of thought leadership blogs , news , and trends in the pages ahead . Happy reading .
Arun Shankar Managing Editor arun @ lynchpinmedia . com
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