In a strategic move to enhance awareness and understanding of FICA compliance, leading South African PR agency Red Ribbon Communications has partnered with DocFox, a pioneer in B2B tech solutions. This collaboration highlights the critical importance of accountability in the financial sector.

South Africa’s placement on the Financial Action Task Force’s (FATF) grey list in February 2024 posed significant challenges. Recognizing the urgency, DocFox enlisted Red Ribbon Communications to leverage their B2B tech PR expertise in content creation, strategic communication, and generating mainstream publicity.

Hawken McEwan, Director of Risk and Compliance at DocFox, expressed enthusiasm about the partnership. “At DocFox, we are dedicated to empowering Accountable Institutions with the knowledge and tools to achieve FICA compliance. Partnering with Red Ribbon Communications has amplified our message and broadened our reach, showcasing their effective FinTech PR skills.”

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Reflecting on the collaboration’s success, Ronelle Bester, Account Director at Red Ribbon Communications, said: “Our partnership has not only heightened awareness about FICA compliance but also positioned Hawken as a thought leader in Anti-Money Laundering (AML) and financial crime. Through strategic media outreach and educational initiatives, we have equipped Accountable Institutions with the knowledge needed to combat financial crimes.”

The collaboration with DocFox has significantly enhanced Red Ribbon Communications’ capabilities in providing PR services to FinTech companies. “Working closely with DocFox has expanded our knowledge in the fintech field and improved our effectiveness in offering tailored PR solutions,” Bester noted. “This partnership has been crucial in enhancing our proficiency in the fintech industry and catalyzing positive transformations within the tech PR sector.”

McEwan expressed his satisfaction with the partnership’s outcomes, stating: “I am impressed with the results of our collaboration with Red Ribbon Communications. Together, we have successfully raised awareness of FICA compliance and positioned DocFox as a leading voice in the fight against financial crime in South Africa. This partnership solidifies our commitment to help South Africa be removed from the FATF’s greylist.”

The alliance between Red Ribbon Communications and DocFox has generated widespread media coverage, featuring in prominent publications like Business Day, The Citizen, and IOL. The collaboration also secured six TV and radio interviews, including appearances on eNCA, Cape Talk, Moneyweb, and Power FM, reaching an editorial audience of over 27 million.

As South Africa navigates the path towards regulatory compliance, the strategic collaboration between Red Ribbon Communications and DocFox stands as a testament to the power of effective communication within the fintech sector. “By leveraging our expertise and their dedication, both entities have not only raised awareness but also paved the way for innovative approaches in the tech PR landscape, setting a new standard for industry collaboration and positive impact,” Bester concluded.

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Source: bizcommunity.com

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FITC recently concluded its highly anticipated TechnNovation FINTECH Conference, themed “Building Trust in the Digital Age: Balancing Performance with Compliance.” This event brought together key stakeholders from the financial sector, including banks, fintech innovators, investors, and regulators, to discuss industry trends, product innovation, regulatory updates, and collaboration opportunities.

Keynote Highlights

Chizor Malize, MD/CEO of FITC and conference convener, emphasized fintech’s transformative impact on the global financial services industry. She highlighted success stories from companies like Interswitch, Flutterwave, and M-Pesa, showcasing Africa’s potential to drive financial inclusion and economic growth through digital innovation. Malize also stressed the importance of maintaining trust and compliance in the digital era, noting FITC’s commitment to providing innovative knowledge solutions and capacity-building programs for the financial sector.

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Philip Ikeazor, Deputy Governor of Financial Systems Stability at the Central Bank of Nigeria (CBN) and Board Chairman of FITC, delivered the keynote address. Represented by Taiwo Oladimeji, Deputy Director of the Payments System Management Department at CBN, Ikeazor highlighted the significant growth of Nigeria’s fintech sector. Over the past decade, fintech innovations like mobile payments and blockchain technology have transformed financial transactions in Nigeria, making it a hub for financial inclusion and attracting substantial investments. The CBN has been instrumental in fostering this growth through policies that promote innovation while ensuring financial stability and integrity.

Key Messages

Ikeazor underscored the necessity of continuous dialogue, knowledge sharing, and capacity building to balance performance with compliance. He mentioned the CBN’s e-learning platform, SabiMONI, which aims to enhance financial literacy and deepen financial inclusion by equipping citizens with essential knowledge and tools. This initiative supports the creation of a financially inclusive society and fosters greater trust in the financial system.

In his conclusion, Ikeazor highlighted the CBN’s dedication to developing regulatory frameworks addressing challenges posed by emerging technologies such as AI, blockchain, and digital currencies. The Payments System Vision (PSV) 2025 focuses on driving digital innovations and payments, emphasizing contactless payments, big data, and open banking.

Insights from Industry Leaders

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In her opening address, Adedoyin Odunfa, MD/CEO of Digital Jewels Limited and Chair of the Conference Advisory Board, highlighted the crucial role of fintech in Nigeria’s economic development and financial inclusion. She advocated for a customer-centric approach and diverse teams, emphasizing the importance of balancing innovation with compliance. Odunfa identified key success factors, including committed individuals, robust processes, scalable solutions, and effective collaboration.

Source: leadership.ng

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SMG Swiss Marketplace Group AG has acquired 100% of moneyland.ch AG, effective immediately.

Integration and Continuity

Moneyland.ch will be integrated into SMG’s Finance & Insurance business unit, joining forces with FinanceScout24. Despite the acquisition, the moneyland.ch brand, platform, and team will remain unchanged. Founder Benjamin Manz will continue in his role as Managing Director.

Moneyland.ch will continue to operate as an independent brand, maintaining its mission to provide transparency for Swiss consumers through neutral financial comparisons, calculators, and editorial content.

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Expertise and Renowned Comparisons

Since its inception in 2013, moneyland.ch has become renowned for its impartial comparisons, calculators, studies, and guides. Jochen Pernegger, Managing Director of Finance & Insurance at SMG, praised moneyland.ch’s contributions: “Moneyland.ch has consistently set industry standards with its high-quality financial comparisons. We are excited to collaborate and leverage the Moneyland team’s expertise and extensive product range to advance our Finance & Insurance division.”

A Strategic Addition

SMG’s Finance & Insurance division, represented by FinanceScout24 for nearly five years, will be significantly enhanced by the acquisition of moneyland.ch. This acquisition aims to streamline the process for Swiss consumers to find and secure the right financial and insurance products digitally and efficiently.

With moneyland.ch, SMG now offers a comprehensive range of comparison services previously missing from its portfolio.

Benjamin Manz emphasized the benefits of this acquisition: “Moneyland.ch will gain from SMG’s digital expertise, network, reach, and established platform awareness. This will allow us to make our comparison platform accessible to a broader audience. We are especially looking forward to collaborating with the FinanceScout24 team.”

Source: fintechnews.ch

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