THE BEN­E­FITS OF FIN­TECH

Pretoria News Weekend - - OPINION -

DAVID Ranch, a data an­a­lyst at con­sul­tancy firm AlixPart­ners, says fin­tech of­fers con­sumers the fol­low­ing ben­e­fits:

• The growth of robo-ad­vice, which helps con­sumers to op­ti­mise their use of fi­nan­cial prod­ucts. Ex­perts an­tic­i­pate that, over time, robo-ad­vis­ers will en­able con­sumers to be­come more fi­nan­cially savvy.

• Per­sonal an­a­lyt­ics. The data con­sumers have at their fin­ger­tips gives them greater in­sight into their fi­nances.

• Price com­par­i­son. Giv­ing cus­tomers ac­cess to ma­chineread­able files of their trans­ac­tion data fa­cil­i­tates straight­for­ward com­par­isons and en­ables cus­tomers to make bet­ter-in­formed choices about where they can ob­tain the best value.

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