Synthesis Head of Regulatory Products Luke Machowski and Synthesis Regtech Software Developer James Eckhart unlock the future of Fintech from the 2023 Fintech Summit.
Synthesis Software Technologies Head of Regulatory Products Luke Machowski presents at FinTech Summit Africa 2023.
By Jake Shepherd In 2016, Absa, FNB, Nedbank and Standard Bank cut ties with Gupta-owned businesses and shut down their bank accounts. The government at the time accused the banks of collusion and tried to browbeat the banks to reverse their decisions. The banks did not budge and this moral courage to stand up for […]
The SARB’s positive new vision for regulatory reporting presents an exciting challenge for the industry
Every time a cross-border payment is made by or to a South African citizen or company the South African Reserve Bank (SARB) is informed about the transaction by the banks. The reporting challenge in this regard is twofold. First, the bank must determine if the payment is genuinely cross-border, and thus whether it should be […]
Synthesis has helped one of SA’s big four banks to upgrade their Balance of Payments (BoP) reporting capabilities. The bank chose to adopt our BoP reporting system, txstream FinSurv, to supplement the platform we currently provide for them. The txstream FinSurv architecture supports a centralised rules engine. This means that should reporting requirements change, the […]
I recently had the privilege to work on increasing the transparency of our txstream FinSurv solution. What came out of it is a simple analytics framework which we will be building into V3 of our product but also something that can be implemented using SQL, Excel and PowerQuery in the interim. I will be sharing the […]
The Synthesis team developed txstreamFINSURV to give you, our clients, a truly strategic reporting solution. Many of you have been feeling way too much heat for far too long and it might be time for you to take a step back and revisit your approach to regulatory reporting. You told us your requirements. We listened. […]
20 Facts about FATCA that you might not know. Read more…
The payments industry is about to go through a mammoth change, a change that forever will associate the word “Tsunami” with “Disruptive Technology” in the minds of those impacted. Jobs will be lost and jobs will be made. Decade old companies will fall and new ones will be born. This change is “blockchain” and it […]
What are tax free accounts? In November 2014 the National Treasury published the draft Notice and Regulations required for tax free savings accounts. The implementation date of this product class is 1 March 2015 and the primary aim is to encourage South Africans to save. Tax free savings accounts allow for flexible contributions (i.e. no […]