There are not many ways to lower your insurance premium, as your insurance premium is calculated on a huge variety of factors. There is a common misconception in the market that if your vehicle value depreciates, your car insurance must also decrease. To be honest it does make logical sense to argue that, but that argument is only based on one of many things that the insurer takes into consideration to calculate your insurance premium. So what are the other factors that insurers use to calculate your insurance premium? The more obvious answers is your risk, address (location), age, how long you’ve had your license, etc.. will have an impact on your premium. That is why these questions are asked when taking out your new insurance policy. What you don’t know is that the insurer also needs to calculate the cost of parts on your vehicle, how long will it be in storage when an accident occurs and what the penal beater fees will be, these are just a few factors. So how do I lower your premium? Well you have options: Review your policy on an annual basis: You get rewarded certain discounts for not claiming every year, called a no claim bonus (NCB). When your NCB increases from 1 year to 2 year etc, your risk becomes less. With these discounts other insurers can possibly give you a better premium. Spread your risk: If you are only going to insure your vehicle, it is worth checking what the insurance premium will be should you add your home contents to the policy. There are insurers that will approve additional discount as the risk is now better for them to take on. Increase your excess: This means that your first amount payable is more, so basically you are helping the insurer to cover costs. Keep your policy up to date: It is very important to notify the insurer or your broker if you move from one area to another as the risk calculation for your new area can be lower. Add additional security features to your vehicle: By installing a tracking device on . . .
2nd Annual OPEX Africa 2013 will engage in industry peers and operational experts from Standard Bank , Rand Merchant Bank, Chase Bank, Standard Bank Africa, Kenya Commercial Bank, RMB Corporate Banking, GARP, ABSA, Ecobank, Nedbank Africa, First Bank of Nigeria Plc and many other banking and financial institutions. The African banking sector is set to attain new levels of achievement as it is the fastest growing economic region in the world. With the help of operational excellence, banking professionals can establish stronger customer relations and provide exceptional customer service in the African region. 2nd Annual OPEX Africa 2013 will provide a progressive platform to COOs, CIOs and the heads of financial operations and operational specialists, the event is focused on highlighting the significance of operational excellence for banking processes. Eyitope St. Matthew-Daniel, Group Head of Banking Services at First Bank of Nigeria Plc will elaborate on the key drivers of efficiency & service delivery through market overview emphasising on the challenges and initiatives taken to overcome them. Her presentation topic entitled, " Increasing Efficiency & Driving Service Delivery – An Emerging Market Example" will focus on key leanings and best industry practices. The challenge of managing operations & technology services in a culturally diverse organization, will be explained by Patrick Edwin Fiscian, Group Head of Operations & Technology Services at Ecobank Group. Session entitled as, "Change Management: The X Factor to Achieve Your Strategic Objectives", will be addressed by Archibald Holtzhausen, Head: Change Management & Special Projects – Africa Technology at ABSA. Branch focussed distribution in achieving sustainable growth will be explained in the session entitled, “Enhancing Branch operations for maximum output”. Wonder Nyabereka, Chief Operating Officer of Barclays Bank Zimbabwe will address this session, emphasising on . . .
It has always been challenging for banks to adopt new technology and provide the same level of service to their customers. With the growth of ISO and Six Sigma, there is a need for banks to re-evaluate their non value adding entities into more fruitful processes. This is the right time to change the global perspective of banks which will make them more competitive in the current economic scenario. The second edition of OPEX Africa, to be held on 10 - 11 April 2013 in Johannesburg, will feature key strategists within the banking and financial community across Africa who will brainstorm new ideas in order to become world class competitors. Some of the key benefits of launching OPEX in financial institutes are eliminating repetitive work, significantly improving the overall accuracies, innovating processes and most importantly improving levels of customer services. According to our speaker Raj Singh, COO of Chase Bank, “ The introduction of rapid technological changes and new operating channels in banking and financial sector, operations have become very complex and thus banks require to raise the bar in terms of optimum output." Singh will be addressing the audience in a session entitled as, “Customer Engagement for an Organisation” which will focus on the trends of service quality and levels of personalization and rebuilding customer loyalty by simultaneous growth of revenue and wallet share. A dedicated panel, termed as the “COO Panel - From Banking & Beyond ”, will debate on the old banking methodologies vs new methods, emphasising on re-inventing new processes to cope technological advancements, expanding the market reach and enhancing efficiency. This panel will be joined by COOs of different banks, namely Melt van der Spuy from Standard Bank, Dave Shelly from Rand Merchant Bank, Francis Dzanya from BancABC and Raj Singh from Chase Bank. In order for operations to respond to business requirements, developing a client focussed business model is . . .
According to recent estimates, retail banking in sub-Saharan Africa is projected to grow by 15% per annum by 2020, bringing the sector’s contribution of GDP to 19% from 11% in 2009. The gains in demand for retail banking services reflect the accelerating economic pulse on the continent largely owed to prudent macroeconomic and structural policies aimed at stimulating private sector-led growth. Recognizing the pressing need for enhancing the flow of development finance, in the African mainland, the “5th Annual Retail Banking Africa 2013 ” will be held on 25th – 27th June 2013 in Johannesburg. This event will provide a platform to the region's retail bankers to rethink their retail strategy in order to give a better customer experience, improved financial services and an alternate approach to boost consumer banking growth. This 2 day conference will be followed by a day long workshop where experts from the retail banking fraternity will discuss on the current trends in the sector brainstorming policies and procedures, embedding a responsible banking culture, exploring opportunities to deliver financial inclusion. Rajal Vaidya, Consumer Banking Director of Barclays Africa will open the conference with the keynote addressing "The Role of Retail Banking in Sustaining Pan-African Economic Growth.” The Regulatory Panel discussion will address how effective the current retail banking regulations are in adapting to a business transformation. Mohammed Iqbal Belath, Second Deputy Governor of Bank of Mauritius will feature in this session, entitled as "Complying with Retail Banking Policies & Procedures". The main feature of this forum is the CEO PANEL, entitled as Crafting a Pan-African Retail Distribution Strategy: Expanding Footprints, will focus on the way forward for African retail banking as its prime functions to operate significantly into the growth of the region's economy. The panelists joining this session includes Ashraf Esmael, Chief Executive . . .
CONVERT EMPLOYEES’ DEBT INTO SAVINGS With the increasing indebtedness of South Africans and over 2 million garnishing orders in place, employers are being faced with increased absenteeism, low morale and unrealistic expectations come salary increase time. Theuns Hanekom, co- founder of Blue Oak Systems, recently launched RESET. The web-based online application empowers employers to assist employees to – wherever possible - convert debt into improved personal monthly cash flow. “The RESET approach is not about consolidating debt with a maximum loan – that is not always possible and often unrealistic and does not necessarily yield the greatest savings. RESET is however about establishing a debt structure which delivers the maximum monthly savings or improved cash flow for the employee,” says Hanekom. He points out that putting extra money in an employees’ pocket can have a marked effect on morale – thus addressing turnover rates, absenteeism and overall employer – employee wellbeing. Morale has drastically been affected for the worse, as the deterioration in economic conditions have affected employees and employers. Employees are desperate for a salary increase at a time when many companies cannot afford increased costs – and this creates a negative working environment. RESET can often unlock that extra cash flow needed by the employee. The RESET application is very simple and takes a few minutes to complete. “Firstly, RESET is conducted in a secure online environment. It’s convenient and efficient. The employee captures his or her ID number and RESET collects the essential information on current unsecured debt from the Credit Bureau. RESET then calculates what consolidating loan amount the employee would require and which accounts, if settled, would yield the maximum monthly savings – the savings amount is provided to the employee within minutes. If the savings are deemed sufficient, then the employee moves to phase two which involves a specific . . .
Blue Oak Systems has just launched an online application called RESET which will help debt-ridden consumers to restructure their unsecured debt. The RESET principle centres around establishing the minimum consolidation loan which will yield the maximum cash savings. With over 8 million South Africans over-indebted and debt consolidation solutions failing, it seems a little hollow to talk about encouraging a savings habit. Theuns Hanekom, co-founder of Blue Oak Systems, believes that we cannot begin to talk about developing a savings culture in South Africa until we can show consumers how to unlock savings from debt. He feels that financial advisors are trained to operate on one side of the personal balance sheet only whereas the problem and opportunity often sits on the debt side. “We have thousands of highly qualified financial planners in South Africa all selling retirement, investment or life products, which is right. But if they looked at the debt side of their clients’ personal balance sheets, you’d find that they could potentially improve their clients’ personal cash flow and either increase savings or as a minimum, reduce the need for clients to borrow more. I’d like to see financial advisors impacting on both sides of the personal balance sheet,” he says. Traditionally, the thinking has been to consolidate debt through taking a maximum loan. Ironically, this doesn’t always result in achieving maximum monthly savings. The problem is that if you don’t enjoy a monthly cash flow improvement which makes a difference, sooner or later you’re going to be borrowing again until such time as you just cannot access any more loans. Another problem in debt management is that people are not comfortable talking about debt which means they don’t access the expertise required to successfully structure debt. Hanekom believes that, provided expert and credible debt structuring applications are used, the online or web environment provides the security, subjectivity . . .
Recognising the pressing need for enhancing the flow of development finance, in the African mainland, The 5th Annual Retail Banking Conference 2013 will be held from 25 – 27 June 2013 in Johannesburg, South Africa. A society of more confident and financially savvy consumers will be able to take better control of their money: by planning ahead, getting general or more specific expert advice when they need it, buying products that meet their needs, and being equipped to manage and pay back their debts. This is where Retail Banking comes into picture. The base of current retail banking services is customization in financial services. Banking offers many opportunities in developing economies like Africa. According to statistics Africa's economy is stated to grow at an average annual rate of 7% over the next 20 year. According to the statistics 70% of Africa's population is unbanked which means they don't have bank accounts and don't have proper access to finance. In South Africa specifically Retail banking sees immense potential because of economic prosperity and the consequent increase in purchasing power, changing consumer demographics, increasing literacy levels, higher adaptability to technology, and growing consumerism. The retail banking services in Africa have gained pace in the recent years. This is the result of increasing population of the middle class. The banking groups from all over the world are making an attempt to attend to the growing demands of this new found class. Recognising the pressing need for enhancing the flow of development finance, in the African mainland, The 5th Annual Retail Banking Conference 2013 will be held from 25 – 27 June 2013 in Johannesburg, South Africa. This forum will comprise of two day conference and a third day, dedicated to post conference workshops focusing on market trends and evaluating opportunities in Africa's consumer banking business in order to improve your business profits. Industry expotents will . . .
The 2nd Annual OPEX Africa 2013 focuses on the new order in banking operations marking operational excellence in banking by enhancing technology and security systems and renewing the processes to serve clients better and thus ensuring valuable results through process efficiency. The African banking sector is set to attain new levels of achievement, it is the fastest growing economic region in the world. With the help of operational excellence, banking professionals can establish stronger customer relations and provide exceptional customer service in the African region. 2nd Annual OPEX Africa 2013, to be held on 10 - 11 April 2013 in Johannesburg, will provide a platform for COO, CIOs and CEOs who will discuss the various aspects of operational excellence. The banking sector in Africa is set to become more organized with streamlined operations, having reduced operational cost and by offering more innovative and tailor made products through conventional as well as robust and innovative electronic services & distribution channels. African banks attempt to implement effective centralization processes considering the technological challenges. These banks aim at very high level of operational excellence to keep a balance between centralization and branch autonomy. OPEX Africa will focus in the new order in banking operations marking operational excellence in banking by enhancing technology and security systems and renewing your processes to serve clients better and thus ensuring valuable results through process efficiency. The importance of customer engagement for an organisation will be explained and presented by Raj Singh,Chief Operating Officer of Chase Bank. Singh, with the help of relevant case-studies will elaborate on trend of service quality and level of personalization as a lead catalyst to re-build customer loyalty by simultaneous growth of revenue and wallet share. One of the panel discussions entitled - “Banking a Diverse Market – . . .
The 2nd Annual Investments in Africa 2013 which will be held on the 5th and 6th of March in Johannesburg, will discuss the transformation of the economies of developing countries in African region. It will discuss the future of the African economy and how the industries are working towards making it better. Press Release: According to the International Monetary Fund, Africa will be the world's fastest growing economy. Ethiopia, Mozambique, Tanzania, Congo, Ghana, Zambia and Nigeria are expected to grow by 6% until 2015. The key reasons for this growth are government initiatives to resolve conflicts and commence micro economic growth to facilitate business growth. In addition to this, most of the African countries stopped hostilities which were essential for stable political conditions which favour growth. The 2nd Annual Investments in Africa 2013, which will be held on the 5th and 6th of March in Johannesburg, will discuss the transformation of the economies of developing countries in African region. It will discuss the future of the African economy and how the industries are working towards making it better. Siobhan Cleary, Director: Strategy and Public Policy, Johannesburg Stock Exchange will speak on a session entitled, “Making Stock Exchanges Work – The African Challenge.” This session will be an overview of the African stock exchange scenario and the future prospects. In words of our speaker, Beatrice Nkanza, Chief Executive Officer - Lusaka Stock Exchange Ltd, "The size of regional blocks should attract sufficient investments to allow specialization of sectors.Every economy needs investment to grow to increase returns for investors, create employment and overall economic improvements. Free movement of such investments is the answer." Nkanza will be addressing the problems regarding liquidity. A case-study on the most potential sector for investments across Africa, will be presented by Jean Louis Ekra, President of Africa Export-Import . . .
Various artists and heritage artefacts Standard Bank Gallery 16 October – 1 December 2012 ‘The Art of Banking: celebrating through collections’ includes an exhibition by the Standard Bank Heritage Centre on the ground floor of the Standard Bank Gallery. This show focuses on the 150-year history of Standard Bank, illustrated through artefacts, photographs and other visuals from the Heritage Centre’s rich archival and artefact collection. This part of the exhibition follows a timeline approach, highlighting the unique history of the bank as the oldest name in banking in South Africa. The exhibition comprises three components. The first covers the period from the late 1850s-1987. More particularly, it deals with the conception of the idea for a “Standard Bank” in Port Elizabeth and its eventual establishment in London in 1862. Other focuses include the bank’s pioneering spirit, its “firsts” and innovations, the development from purely a bank into a financial services organisation, and the disinvestment of the bank’s British parent when it became fully South African owned. The second component explores the period 1988-2012 and portrays the bank as a dynamic organisation that expanded into Africa and other parts of the world in its own right. Other parts of the story here include the Nedcor take-over bid, the journey to self-service banking through technological innovations, internet and cell phone banking in particular, and Standard Bank’s quest to reach the “unbanked”. The third section of the exhibition includes an old banking hall, showcasing a teller’s box from the original Standard Bank counter at the Port Elizabeth branch and other furniture used by the bank over the years. Also featured in this component is a short video, which takes the visitor through the customer experience over the years, from when banking was completely branch-based to the development of self-service banking as we know it today. In addition, there is a focus on the changed look . . .