Providing fair and responsive service to customers on digital channels is no longer just a nice-to-have for SA banks. New market conduct regulations demand that banks deliver such outcomes. Failure to do so could lead to significant fines from the regulator and lasting reputational damage.

SA banks will have to adhere to the regulations stipulated in both the Financial Sector Conduct Authority’s (FSCA's) banking conduct standard and the Conduct of Financial Institutions Bill. In addition to adapting to the changes to the market conduct landscape, banks will need to make significant improvements in how they deal with customers on social media as demand for digital services grows...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.