Standard Bank simplifies access to unclaimed benefits through its app
Standard Bank says it has made it easier for clients to access previously unclaimed dividends, pensions, and insurance benefits. Partnering with the unclaimed benefits tracing company Robin Hood, the bank has streamlined the claims process through its Banking App.
“Some clients are owed a few thousand rands, while others have large amounts of unclaimed benefits. This is money that could change lives and boost the economy. By removing the requirement for clients to individually approach funds to submit claims, we are making it easier for clients to be reunited with their unclaimed benefits,” says Dr. Belinda Rathogwa, Standard Bank’s head of digital and e-commerce.
According to the Financial Sector Conduct Authority (FSCA), around R89 billion in unclaimed benefits existed in 2022, awaiting rightful owners. By simplifying the claims process, Standard Bank aims to address this significant societal issue.
“We are partnering with more retirement funds, share schemes, and insurers through our Corporate and Investment Banking division to expand the benefits that clients can claim through our Banking App. The more funds that join, the more value we can put back into the hands of clients,” says Rathogwa.
FSCA warns public about Solis Markets' unauthorised financial services
The Financial Sector Conduct Authority (FSCA) is urging the public to exercise caution when engaging in financial services with Solis Markets. The FSCA has identified concerns that Solis Markets may be offering financial services without the necessary authorisation.
Solis Markets claims to be “powered by Eklavya Asset Management (Pty) Ltd” (Eklavya), which is an authorised financial services provider (FSP) with FSP number 45583. However, FSCA records indicate that Solis Markets is not an authorised FSP and does not serve as a juristic representative of Eklavya or any other authorized FSP. Eklavya has stated that Solis Markets is a trading platform they utilise.
The FSCA says it is currently investigating potential violations of financial sector laws by both Solis Markets and Eklavya. This investigation was prompted by complaints from clients who allege that Solis Markets intercepted their investments and failed to process their withdrawal requests.
The FSCA emphasises that the investigation is ongoing and has yet to reach any conclusions. This public warning does not imply that any parties involved have violated financial sector laws.
Aspen Pharmacare partners with PinkDrive to enhance cancer screening access
Aspen Pharmacare, the South African subsidiary of the Aspen Group, has partnered with PinkDrive NPC to fund a new mobile cancer screening clinic—the fourth in PinkDrive’s fleet. This initiative aims to provide essential gender-related cancer screenings to rural and peri-urban communities lacking immediate access to medical facilities.
Stavros Nicolaou, senior executive of strategic trade at Aspen Group, emphasised the importance of this initiative: “Our country and continent are experiencing a curve in non-communicable diseases (NCDs), and cancers are one of the most prominent contributors to this surge. If left un-arrested, NCDs will eventually overwhelm our healthcare system with broader dire economic, social, and societal consequences. Many concerns can be managed and/or treated through early detection and intervention. Early screening in particular remains highly effective.”
Nicolaou says: “Aspen is privileged to partner with PinkDrive in delivering a fully equipped mobile clinic that will assist resource-constrained and underfunded communities in confronting the scourge of cancer.”
The mobile clinics offer mammograms, pap smears, PSA testing, and vital cancer education, significantly enhancing access to critical health services for underserved populations.
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