By: Riaan van Dyk, Sanlam Fintech’s CEO
The launch of Sanlam Fintech – a business cluster within the Sanlam Group – signals a strategic move to expand the Group’s existing fintech offering and ensure that all aspects of the US$8bn (R143bn) listed company’s services are digitally led. The overarching goal is to use tech to accelerate access to financial services for all Africans.
Gathered under the Sanlam Fintech cluster is a host of existing product houses that Sanlam – Africa’s largest non-banking financial services group – believes will be key for its digital, direct growth ambitions. These include: Sanlam Rewards (Wealth Bonus, Sanlam Reality), SatrixNow, MiWay Blink, Santam Switch, Home+ , EasyEquities, Sanlam Credit Solutions and Sanlam Multi Data.
“At the heart of Sanlam Fintech is the convergence of a single ecosystem that incorporates financial guidance, rewards, non-intermediated product offerings and seamless payment capabilities to deliver the integrated digital experience that today’s client expects,” explains Riaan van Dyk, Sanlam Fintech’s CEO. “We are building a single view of customers that will allow us to serve hyper-personalised interactions at scale, ensuring that our clients get a holistic experience tailored to their needs, regardless of the Sanlam Group product(s) they hold.
“The Fintech cluster will support Sanlam’s key strategic priorities of financial inclusion and digital transformation. It is about enabling us to serve a segment of the market that has historically been underserved by Sanlam,” adds Van Dyk. Sanlam Fintech’s ambition to be one of the most exciting fintech players globally is audacious – and demands best-in-class talent. It’s why Van Dyk has moved quickly to make a swathe of impressive appointments to the Sanlam Fintech Exco, including some of the best executives from global fintech companies. These include FNB eBucks Rewards’ CEO Johan Moolman, Amazon’s Atle Jorgensen, and Spotify’s Rishi Kumar.
Johan Moolman – the highly awarded CEO of FNB eBucks Rewards – will join Sanlam Fintech in October to lead Sanlam Rewards & Loyalty, which includes its flagship Wealth Bonus rewards programme, as well as Sanlam Reality, the lifestyle rewards programme of the Sanlam Group. “Johan is a real coup for Sanlam,” says van Dyk. “We are serious about rewarding our clients and building a loyalty ecosystem that will be one of the best on the continent, and Johan is unparalleled in his experience and track record in this regard.”
In addition, Atle Jorgensen, who spent 10 years as a senior software engineer at Amazon, joined Sanlam Fintech as Chief Technology Officer in August. Spotify’s Rishi Kumar joined Fintech to lead its data capability in early September.
More broadly, Van Dyk – a former Group CEO of Assupol with over 25 years’ experience in the financial services sector – believes that Sanlam Fintech will be key in helping Sanlam Group democratise its offering to a wider audience. “Our vision for Sanlam Fintech is to be the best, most cost-effective means of offering trusted financial guidance and solutions at scale. We see this as our greatest chance to democratise financial literacy and pave the way for more people to achieve financial confidence and prosperity.”
Sanlam also has ambitious plans to invest in new value propositions to drive future growth. Currently, this includes fast-tracking AI development and deployment to enhance existing product experiences and sales processes.
“We firmly believe that our Fintech cluster will drive our transformation agenda through financial literacy, advice, and radical inclusion,” concludes Van Dyk. “We’re eager to embrace rapid innovation cycles and the uncertainties that come with it. We are poised to shape the future of fintech and make a meaningful impact on people’s lives.”
