Software rout deepens as AI fears grip investors

Software rout deepens as AI fears grip investors

US software shares tumbled on Thursday as fears over disruptions from advances in AI returned to the forefront following a recent update from Anthropic. Investors have dumped the sector’s stocks this year on worries that AI tools that are capable of automating human tasks could pose an existential threat to the industry. The broader S&P…

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Automating financial operations for faster, safer financial reporting

Automating financial operations for faster, safer financial reporting

R2R encompasses the entire financial close cycle – from recording transactions to reporting financial results. (Image: MoData) South African businesses are under pressure to deliver financial results faster while maintaining absolute accuracy and compliance. In industries like financial services, retail, telco and gaming, the volume and complexity of transactions have soared, making manual spreadsheet-based reconciliations…

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South Africa’s biggest banks are lining up behind Optasia

South Africa’s biggest banks are lining up behind Optasia

Optasia CEO Salvador Anglada Optasia has secured US$330-million (R5.4-billion) in refinanced and upsized debt facilities, with Standard Bank acting as joint mandated lead arranger and underwriter in a deal that deepens the banking group’s relationship with the JSE-listed fintech. The facilities comprise a $180-million term loan and $150-million in bank guarantees, and are designed to…

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