Page 22 - EngineerIT April May Issue 2026

FINTECH

Fintech Q&A: Data and the future

of advice in South Africa

By Justin Render, with insights and answers from Dominic Rey.

outh Africa’s wealth management Q: How is fintech reshaping the role of financial advisers in South Africa?
sector is not what it used to be. That “Fintech is shifting the adviser’s role from administrator to strategic coach.
Sisn’t a bad thing. However, as fintech The administrative burden associated with compliance and paperwork is
adoption accelerates and client expectations being reduced by technology, freeing up time for more meaningful client
evolve, digital onboarding, data integrity and engagement.
AI-driven analytics are familiar words to those
in the know, but somewhat unclear to others. “Digital advice tools and streamlined platforms are making it easier to
serve existing clients and expand into new segments. Tasks such as risk
The new norms are changing both how advice assessments and compliance checks, which previously took hours, can
is delivered and how clients experience it. now be completed in minutes through guided digital onboarding.
Efficiency remains important, but the deeper
shift is in how advisers create value and how “This lowers the cost to serve and improves access to professional
clients engage with that advice. financial advice.”

I spoke to Dominic Rey, Managing Director: Q: What technologies are helping wealth managers balance compliance
Wealth Management at Iress South Africa, with innovation and client experience?
about the forces reshaping the industry. “The foundation is data integrity and a single source of truth. There is
a global push to extract, transform and load data into a standardised,
enriched format that can be used consistently across systems.

“When data is accurate and structured, it supports regulatory
compliance, enables deeper business analysis and improves customer
outcomes.

“Automated data validation plays a key role. It streamlines the advice
process and reduces regulatory risk, while giving clients a clear, real-time
Dominic Rey view of their financial position and progress.”

22 | EngineerIT April/May 2026