---
title: Dave Glass and Africa Melane talk about Future-Fit Technology
description: Electrum CEO, Dave Glass, was interviewed by Talk 702’s Africa Melane about South Africa’s banking sector and its need to adopt future-proof platforms.
image: https://blog.electrum.co.za/hubfs/702_Blog%20Cover%20-dave%20and%20africa%20interview.png
---

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# Dave Glass and Africa Melane talk about Future-Fit Technology

 May 27, 2024

<https://blog.electrum.co.za/author/electrum-software> ![Electrum Software](https://blog.electrum.co.za/hubfs/favicon.png)

 Electrum Software

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Our CEO, Dave Glass, was recently interviewed by Talk 702’s Africa Melane about South Africa’s banking sector and its need to adopt future-proof platforms. We summarise some of the key points in this recap.

South Africa’s banking system is one of the most highly regarded in the world. Part of that success can be credited to the legislation that governs it and the high profit margins that are reinvested into the sector. Yet, many of the banks are running on legacy platforms that are more than 30 years old. 

> “Our banking system is like driving an expensive old car. It's very reliable and goes very well, but slowly over time it gets harder and harder to find parts, and it gets harder and harder to be sure that your car is going to remain reliable.”

## There are three key drivers for change in South Africa

### New Regulation

The current payments regulation was largely written in the late 90s, which looked significantly different to the world we live in today. Acknowledging this, the government is in the process of drafting new legislation to support payments in South Africa. This legislation may require banks to enhance or completely replace their current platforms.

### Demand for Instant Payments

To be competitive and meet consumer expectations, banks need to modernise their core processing platforms to support the rising demand for instant payments.

> “People… are starting to expect that making a payment is as easy as sending a WhatsApp message.”

### New and Better Technology

AI and cloud-computing are new and transformational technologies that are enabling banks and fintechs to provide the market with better and faster products. Incumbents need to adopt these technologies to remain competitive through the next generation of banking.

[Listen](https://omny.fm/shows/early-breakfast-talk/finance-why-sa-s-banking-sector-needs-to-get-futur#description) to the full interview, or read more of Dave's thoughts on the topic in this [Payments Afrika article.](https://paymentsafrika.com/the-future-of-south-africas-banking-sector-why-modernisation-is-crucial-electrum/)

[Listen here](https://omny.fm/shows/early-breakfast-talk/finance-why-sa-s-banking-sector-needs-to-get-futur)

 

[Learn](https://www.electrum.co.za/payments) how Electrum uses cloud-native technology to power the next generation of payments.

![Electrum Software](https://blog.electrum.co.za/hubfs/favicon.png)

Electrum Software

Electrum is the next-generation payments software company, powering payments for banks and retailers. Since 2012, we have established ourselves as a respected software partner through our deep expertise and track record in delivering trusted cloud-native payments solutions.

[More posts by  Electrum Software](https://blog.electrum.co.za/author/electrum-software)

Recent Blog Posts

![Pay@ and Electrum – Partners in Digital Payments and Services](https://blog.electrum.co.za/hubfs/Imported_Blog_Media/6257bbf84471a06e5be5c664_thumbnail-4.jpeg)

### Pay@ and Electrum – Partners in Digital Payments and Services

<https://blog.electrum.co.za/post/pay-and-electrum-partners-in-digital-payments-and-services>

![Scaling Trust in a Real-Time, AI-Driven Payments Future](https://blog.electrum.co.za/hubfs/PIPC_blog_cover.png)

### Scaling Trust in a Real-Time, AI-Driven Payments Future

<https://blog.electrum.co.za/scaling-trust-in-a-real-time-ai-driven-payments-future>

![What South Africa Can Learn From Open Banking in the UK](https://blog.electrum.co.za/hubfs/Imported_Blog_Media/6257bce14550f86089aed87a_Open-Banking-4.png)

### What South Africa Can Learn From Open Banking in the UK

<https://blog.electrum.co.za/post/electrum-at-pipc-2021-what-south-africa-can-learn-from-open-banking-in-the-uk>

# Electrum Newsletter

 Quarterly insights and news to help you keep up with the latest changes in the payments landscape

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- [PayShap](https://www.electrum.co.za/schemes/payshap)
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###### Value-Added Services

- [Prepaid Airtime and Data](https://www.electrum.co.za/digital-goods-and-services/prepaid-airtime-and-data)
- [Prepaid Electricity](https://www.electrum.co.za/digital-goods-and-services/prepaid-electricity)
- [Bill Payments](https://www.electrum.co.za/digital-goods-and-services/bill-payments)
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- [Digital Vouchers](https://www.electrum.co.za/digital-goods-and-services/digital-vouchers)
- [Cash Vouchers](https://www.electrum.co.za/payments/cash-vouchers)

###### Solutions

- [Clearing House Payments Modernisation](https://www.electrum.co.za/solutions/clearing-house-payments-modernisation-for-existing-banks)
- [Turnkey Clearing House Payments](https://www.electrum.co.za/solutions/turnkey-clearing-house-payments-for-new-banks)
- [Enterprise Payments Channel](https://www.electrum.co.za/solutions/enterprise-payments-channel)
- [PayShap-Ready QR Code Issuing](https://www.electrum.co.za/solutions/payshap-ready-qr-code-issuing)
- [PayShap for Retailers](https://www.electrum.co.za/solutions/payshap-for-retailers)
- [Cash Voucher Issuing and Distribution for Banks](https://www.electrum.co.za/solutions/cash-voucher-issuing-and-distribution-for-banks)
- [Cash Voucher Retail Expansion for Banks](https://www.electrum.co.za/solutions/cash-voucher-retail-expansion-for-banks)
- [Retail Cash-In and Cash-Out Expansion](https://www.electrum.co.za/solutions/retail-cash-in-and-cash-out-expansion)
- [High Volume POS-Integrated VAS Services](https://www.electrum.co.za/solutions/high-volume-pos-integrated-vas-services)
- [Expanded VAS For High-Growth Digital Channels](https://www.electrum.co.za/solutions/expanded-vas-for-high-growth-digital-channels)

###### Resources

- [Implementation Guides](https://www.electrum.co.za/documentation/product-guides)
- [Solution Updates](https://www.electrum.co.za/solution-updates)
- [Reports, whitepapers & flyers](https://www.electrum.co.za/insights)
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###### Contact us

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