Banks are saddled with legacy systems that make it difficult to pivot their business models and implement digital solutions that can rival new and nimble fintech providers. "Cloud computing has been a significant catalyst for digital disruption in the banking and credit sectors," says Hans Zachar, MD for technology strategy at Accenture South Africa. "While banks grapple with their legacy systems, new cloud-native solutions are emerging that are decoupled from the core banking system and help the incumbents keep pace with digital disruption in the sector." Jacobus Eksteen, senior scoring analyst at Compuscan and Scoresharp, explains that data, data processing and modular credit management solutions provisioned from the cloud improve accessibility, scalability and security. "Local businesses are increasingly embracing off-premise hosted solutions as part of a hybrid cloud model, which serves as a stepping stone towards full cloud enablement." According to Eksteen, competition will in...

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