Editor's note

Head: Strategy, Sales and Business Analytics at Absa Home Loans

The opportunities and challenges of disruption

Welcome to the second edition of The Address, which is focused on the opportunities and challenges of disruption.

Every industry is grappling with the realities of digital transformation, and ours is no different. The pace of change has been accelerated by the pandemic, as well as changing consumer needs. The speed at which our world is having to adapt feels mindboggling sometimes, but I believe that while it’s challenging, there are significant opportunities presented by disruption, which should excite us.

Working on this edition, themed “The Accelerated Path of Change,” has driven home for me how every innovation and advancement made by one player in the value chain impacts our whole industry – and ignites the next chain reaction.

We deal largely with physical assets – homes – but that does not mean digital transformation does not apply. While traditionally innovation within the home loans space has been limited, as life has moved online, it’s been refreshing to realise that this doesn’t have to be the case. In the last year alone, we’ve seen innovations from customer communications to industry networking platforms, new products and services, payment channels, proptech, property trends, as well as a push to digitise previously paper-based systems. This is just the beginning of our exploration. Disruption promotes healthy competition in the market, but also inspires and calls for value-adding collaboration and strategic partnership so that our entire eco-system “grows forward”. Within this context, it’s important to remember our responsibility to innovate for the entire market, not only those with access to technology. Our aim remains to house the nation and shape the industry in a meaningful way. The nation is diverse in its needs, and so there are many dynamics to explore and solve for. There is exciting global best practice we can glean from, but it’s also important that we tailor a home-grown solution to meet the needs of the South African market. In this edition, you’ll find explorations of what that market looks like, insights from global and local thought leaders and innovators, examples of new technologies and of grassroots solutions, and calls to build an inclusive future. We hope it will inspire, inform and excite you. PS: We’d love your feedback. Please do drop us a mail with your comments and suggestions.

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