The FSCA’s Statement on Consumer Vulnerability calls on financial institutions to give greater attention to customers who may be particularly susceptible to financial harm because of their demographics, limited financial resilience or changing life circumstances. Vulnerability may arise from factors such as illness, disability, job loss, bereavement, divorce, low ...
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Business Day reports that the rapid growth of artificial intelligence, decentralised finance and open finance is creating new accountability and governance challenges for South Africa’s financial sector. Speaking during a public lecture at UCT, FSCA Commissioner Unathi Kamlana said these technologies were changing how financial products were designed, distributed and ...
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The Financial Sector Conduct Authority (FSCA) has warned the public about online platforms and individuals impersonating GatesFX (Pty) Ltd and soliciting money for purported foreign-exchange trading. GatesFX has confirmed that it is not connected to these platforms, which are not authorised to provide financial services in South Africa. The FSCA ...
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By Lee Rossini
Client segmentation is the process of dividing a business’s client base into distinct groups that share similar characteristics, needs, behaviours or financial objectives. Rather than treating every client in the same way, segmentation enables a business to understand differences between clients and tailor its products, communication, service levels and advice accordingly. In financial services, where clients can vary significantly in wealth, financial knowledge, risk tolerance and life circumstances, effective segmentation is valuable.
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