South Africa’s digital economy is expanding rapidly, but businesses still face tough challenges in scaling operations and managing costs. From cash flow constraints to unreliable infrastructure, many SMEs and financial service providers are seeking smarter solutions. That’s where fintech steps in. With innovations like NuCash and offline-capable lending systems, Altron FinTech is helping businesses cut costs, improve efficiency, and serve more customers, faster. 

One of the most effective ways fintech drives real change is by solving practical challenges that hold businesses back such as slow disbursement processes and high cash-handling costs. As an example, a financial services operation that wanted to take the hassle out of payouts to its loan customers, requested Altron FinTech to provide a solution. Since Altron FinTech was already providing loan management software for the business, the team developed a real-time payment mechanism using an aggregate account. This account paid directly into the customer’s bank account, with SMS notifications confirming payment. 

“The team worked out that they could take cash out of the equation,” says Ahmed Gani, Head of DevOps and Innovation at Altron FinTech. This innovation was formalised as a product called NuCash and has since been rolled out across Altron FinTech’s customer base, demonstrating how operational efficiency can be scaled through fintech. 

Innovating for operational efficiency 

According to Gani, South African businesses face all sorts of challenges when trying to scale, such as: 

• Access to capital, especially for businesses in the informal sector; 

• Regulatory requirements, which add to the administrative burden for SMEs; 

• Infrastructure challenges, such as reliable electricity and water; and 

• Operational costs, such as those associated with holding cash: higher interest rates, higher rentals and tariffs also add to the cost of doing business. 

Fintech can play a powerful role in addressing many of these challenges. On the issue of access to capital, Ahmed Gani notes that fintech providers need to take a more active role in supporting business growth. "Many businesses transact through our platforms, so we have a vested interest in seeing them grow," he explains. However, he acknowledges the importance of striking the right balance. “While certain costs are unavoidable in any business, the key is to remain as lean as possible. The leaner we get, the better we get." 

While the financial services sector in South Africa is highly regulated for good reason, this also means that the associated admin can have a negative impact on the customer experience. Products need to be user-friendly. “There’s a lot of value in taking that pain away by making compliance automated,” says Gani.  

When it comes to unreliable infrastructure, Altron FinTech provided a solution for the microlending industry that included an Uninterrupted Power Supply (UPS) capable of running a laptop and printer, ensuring business continuity during load shedding. Offline functionality allows the system to resume online once connectivity returns.  

Operational efficiency is one area where fintech can be a game-changer. “Transactions are a volume game,” Gani explains. “The more automated the process, the faster businesses can operate. This means more customers can be served online, and businesses can reduce physical space requirements and costs.” 

Fintech and financial inclusion  

Gani, who joined Altron FinTech over two decades ago, has seen fintech evolve from slow, manual systems to dynamic, digital platforms. Today, thanks to open banking APIs and multiple payment options such as apps and closed-loop wallets, businesses and consumers enjoy greater choice and convenience. 

These innovations also support financial inclusion – a key driver of economic growth. Gani highlights that many solutions arise directly from customer needs. “I’m not one for big flashy innovation that doesn’t get used by anyone,” he says. “Our team focuses a lot on incremental changes. We give customers what they ask for.”  

What’s next for fintech 

As South Africa’s economy continues its digital transformation, fintech will play a critical role in making business more accessible, efficient, and inclusive. Altron FinTech is committed to helping businesses thrive by solving real-world challenges through agile, scalable solutions. Whether it's removing cash, automating compliance, or enabling real-time payments, fintech is powering the future of business growth. 

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