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alphacode - News

  • South African fintech in 2018 – what can we expect? [Opinion]

    Fintech continues to surprise with little to touch the rise of bitcoin and cryptocurrencies in 2017.  This will continue in 2018 and I make some predictions based on what we see happening globally and what we see taking place with our members at AlphaCode, a Rand Merchant Investments club for fintech startup entrepreneurs. Bitcoin At the end of 2016 I predicted that 2017 was going to be the year that the world would embrace bitcoin. I thought it would go mainstream but I had no idea how mainstream it would become. We have seen the bitcoin price increase from $1000 at the beginning...

  • Four black-owned fintech startups each win R1m at Alphacode pitching event

    Four black-owned South African financial services startups each won R1-million last night at a pitching event hosted by AlphaCode. The event was held on 31 October and was run for the third time in collaboration with AlphaCode, a club for next generation financial services entrepreneurs powered by RMI Holdings. The Broad-based Black Economic Empowerment (B-BBEE) pitching event is an initiative of Merrill Lynch South Africa and Royal Bafokeng Holdings which seeks to identify and reward high potential South African fintech entrepreneurs to boost the development of fintech in South Africa. Monetary awards were made to four of the 10 black-owned financial services businesses which pitched. The four businesses, as recipients of the grant funding, will become members...

  • Slide app, SA’s own version of Venmo, aims to boost person-to-person payments

    South Africa has just got its own version of Venmo, one of the US’s most successful payment platforms owned by PayPal that processes $25-billion in person-to-person payments annually. The Slide app is founded by three young South Africans who recently returned from living in the US -- Irshad Kathrada, Terence Goldberg and Alon Stern. The three have developed the app to change the way South Africans pay each other. Kathrada, worked for JP Morgan in Johannesburg, London and New York; Terence Goldberg, worked in Toronto and San Francisco; and Alon Stern moved to the US from South Africa on a Fulbright scholarship where he worked at...

  • Mama Money makes FICA simple: take a photo and a selfie

    The South African-based fintech startup that offers the cheapest cross border money transfer rates into key African countries and now into India, has introduced the easiest online registration process using its app – taking a photo and a selfie. This is a first in South Africa and is approved by the Financial Intelligence Centre and the SA Reserve Bank. Mama Money co-founder, Raphael Grojnowski (pictured above, right), explains: “To register, you simply download the Mama Money Family App from the Google Play store, enter you contact details, take a photo of your passport or ID and a selfie holding the document. This is...

  • FinChatBot to improve customer service, reduce costs for financial services

    If you’ve had enough of being put on hold, speaking to call centres in India or waiting for that promised call back on your query from people who never call back, you are probably ready for a chatbot. Chatbots have arrived in South Africa and are kicking off in financial services. Chatbots are life like text based online conversations to connect businesses with their customers. These conversations are possible on websites, Facebook messenger or on apps. They are intelligent conversations made possible through artificial intelligence and machine learning. If you think spending 45 minutes on the phone is absurd to take...

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