Meeting Customer Needs in the Digital AgeVijay Naidoo and Arabile Gumede discuss access to technology, financial inclusion, and more in SA

In this episode of our Old Mutual Thought Leadership Podcast, Chief Information Officer at Old Mutual Finance, Vijay Naidoo, talks about the role of technology in financial services. He discusses the following aspects:

  • The challenge of access to data in South Africa
  • The role of regulation in cybersecurity
  • How the POPIA Act has helped
  • The pressure to move quickly as technology evolves

How does data help organisations understand customers better?

One of the three main reasons why financial institutions are targeted by cyber criminals is because of the enormous data that they hold from customers. Besides data from customers, Old Mutual also has data from third parties. “This data gives us a better view and understanding of our customers, which then enables us to provide a much more customized fit for product purpose to our customers,” says Vijay.

How does Old Mutual protect a customer’s personal information?

When you walk into an Old Mutual branch, you would give consent, or we would get consent from you as a customer agreeing that we can use your data. This data is captured and stored. The POPIA Act is there to protect you as an individual from your personal data being used for purposes other than it was intended for, concludes Vijay.

Disclaimer: Old Mutual is a licensed Financial Services and Registered Credit Provider NCRCP 35