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APIs and Robo grow together in financial institutions, but face trust issues. Robo is being sized up in South Africa?
As American and European financial institutions have rolled out robo-advisors the past few years they have started using APIs more and more, Capgemini’s annual World Retail Banking report has found. As API’s rise in tandem with robo-advice, both are being hamstrung by trust issues, as not all customers are comfortable sharing their data.
Robo-advisors are rare as summer snow in South Africa, although the industry seems set to grow, with new players entering the market. At this early stage, South Africa’s experts strongly doubt it will replace personal advice, but what's the harm in trying?
This article was originally published on www.roboadvicenews.com.