Credit providers to proceed with caution

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man-and-women-window-shipping-at-mallCredit-granting companies are urged to continue to carry out stringent checks on prospective lenders, following a recent ruling that relaxes affordability assessment requirements.

While many local retailers have lauded a recent High Court ruling that binned a legal clause requiring lenders to demand payslips and financial statements from credit applicants, the move has been met with raised eyebrows from SA’s credit regulator – which is concerned it may lead to reckless lending.

Indeed now more than ever, in light of the historic ruling, it is worth reiterating how vital it is for credit lending – in whatever form – to be approached with caution. If you are a business owner that deals with individuals or other businesses, the importance of carrying out thorough checks when assessing customers’ credit status cannot be stressed enough.

While it is unquestionably important for businesses to have customers, financially vulnerable customers only spell trouble – both for your company’s bottom line and the customer, who you as a business should be protecting.

Court ruling

On March 16 this year, the Western Cape High Court made a ruling that binned the clause of the National Credit Regulations that, since 2015, had made it compulsory for credit lenders to acquire payslips and financial statements from prospective borrowers before granting credit.

The judgment applies to all forms of credit lending, from store credit to microloans.

Prior to the recent ruling, subsection 23 A(4) of the National Credit Regulations required credit providers to obtain three recent payslips or bank statements as proof of income from applicants who were permanently employed – and three recent documented proofs of income or bank statements from those who did not receive a salary. If the applicant could not provide proof of income, credit providers had to then get three recent bank or financial statements from them (see page 18 of the Government Gazette, 13 March 2015).

While affordability assessments have always been a requirement of the National Credit Act (NCA), prior to the more stringent requirements put in place in 2015, credit providers were allowed to decide on their own means of carrying these out.

This year’s Western Cape High Court ruling – spurred on by applications by Truworths, the Foschini Group and the Mr Price Group – essentially returns the affordability assessment subsection of the NCA back to its former, more moderate, self.

The three retailers brought the case against the Department of Trade and Industry and the National Credit Regulator (NCR) because they claimed the said affordability assessment regulation adversely affected their businesses.

Continue with caution

However, the NCR, which believes an important tool in the fight against reckless lending and borrowing has been removed, is not happy with the ruling, to the extent it is considering an appeal.

The Credit Ombud, meanwhile, has also reportedly greeted the ruling with caution.

News site iol cites NCR company secretary, Lesiba Mashapa, urging credit providers to continue to carry out thorough credit checks despite the ruling: “We appeal to credit providers to continue to apply the income verification standards set by the regulations to protect themselves and consumers from reckless lending and borrowing.”

While the credit regulations in terms of affordability assessments have been significantly relaxed, Section 81 of the NCA, which requires credit providers to take “reasonable steps” to assess consumers’ financial stability before granting credit, remains in force.

Mashapa has urged credit providers to proceed with caution, and continue to carry out stringent credit checks on prospective customers. “[Credit providers] should request consumers to produce proof of income.”

pbVerify offers a range of B2B and B2C Credit Risk Management tools for any size business in South Africa that grants credit. For more information visit our products page HERE

 

[REFERENCES]

  1. Credit Ombud – National Credit Regulations including affordability (Chapter 3: Page 17)
  2. The Department of Justice & Constitutional Development – National Credit Act (Page 114)
  3. Southern African Legal Information Institute – Truworths Limited and Others v Minister of Trade and Industry and Others (4375/2016) [2018] ZAWCHC 41
  4. iol – High Court ruling removes barriers to credit
  5. Business Day – Court ruling leaves credit providers in catch-22 situation

Clean air, longer life

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breathe easy indoorsExtend your life expectancy by cleaning the indoor air you breathe with an air purifier.

You eat well, don’t smoke, exercise fairly regularly and drink alcohol in moderation – and yet, some days, you feel like you’ve been hit by a large bus.

Sound familiar?

Because air pollutants are often not visible to the naked eye, many of us don’t realise just how debilitating poor quality indoor air can be on the human body – but the effects of indoor air pollution should not be overlooked. They range from short-term afflictions – like eye, nose and throat irritations – to more serious long-term effects like respiratory disease and even cardiovascular conditions.

And, while we may think we can eliminate common culprits like pet dander, dust, smoke and mould spores by keeping a clean home or office, the fact is that dusting and vacuuming are simply not enough to remove all these daily pollutants from the air we breathe.

But fret not, because it’s not all doom and gloom for those after a life of health and longevity in a world where clean air seems like an unattainable ideal – help is at hand.

Think of air purifiers as pollution-busting superheroes – except these clean air crusaders are by no means fictitious or out of reach – they are practical, affordable and dependable devices that have been proven to improve and lengthen lives, if not save them.

Air purifiers work by way of HEPA (high-efficiency particulate air) filters that clean and purify the air that is circulated – and that you breathe daily – indoors. HEPA filters physically trap the tiny particles that vacuum cleaners and other cleaning equipment merely recirculates into the air.

A health must-have in your home or office, air purifiers not only clear airborne bacteria quickly and quietly, they are also very effective in the removal of odours, allergens and other pollutants that are inevitably present in indoor air. In fact, research has shown that HEPA filters remove about 99.9% of dust particles and impurities from the air.

According to The New York Times, studies have found improved air quality has prevented tens of thousands of premature deaths from heart and respiratory disease. Simply put, “Clean air, longer life” (Harvard Magazine).

The conclusion: air purification equals the removal of impurities…equals clean air…equals better health…equals longer life.

So you have to ask yourself, can you afford not to invest in an air purifier?

For information on pbOffice’s range of air purification systems, visit our Air Purifiers web page, or call 010 300 4893.

Optimise your business mail system with a Relay inserter

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Relay 1000When it comes to the mail you send out to customers, time and cost savings are just two of the many ways in which your business can benefit from a quality inserter.  

pbOffice, a division of customer communication firm PBSA, has just introduced a new, improved range of mail inserters, serving mailing needs from small- to large-scale. Read more about the new Relay range of inserters, manufactured by Pitney Bowes, HERE.

Wondering why you should invest in an inserter for your business in the first place?

Before going into the huge advantages an inserter can bring your business in terms of productivity, efficiency and professionalism, it is important to note that traditional mail as a means of engaging customers is far from dead.

On the contrary, traditional mail has been widely advocated as the most effective means of communication. People have a strong sense of nostalgia when it comes to physical mail and – if done properly – this means of communication and marketing can really help your business stand head and shoulders above the rest.

Mail folding and inserting machines not only give your business mail the professional touch, they also ensure the right mail gets out on time, to the right customer – and far more speedily and painlessly than with a manual system.

If you are sending mail out the manual way, your process probably goes something like the time-consuming and tedious process outlined below:

  1. Gather all printed documents, inserts and outer envelopes.
  2. Manually fold documents, trying to make them look as professional and neat as possible.
  3. Select and include all the necessary inserts, checking and double-checking these are all in the correct order.
  4. Manually insert the documents and inserts you just put in order into envelopes.
  5. You are now ready to mail the one piece of mail you just prepared (but you probably have hundreds more to go).
  6. Put plasters on your paper cuts.
  7. Repeat

With a Relay inserter, this could be turned into a simple, speedy and precise process – like the one below:

  1. Load documents, inserts and envelopes.
  2. Select job on keypad.
  3. Stand back as the machine prepares the job.
  4. Ready to mail.

But time-saving is just one of the many advantages that comes with investing in a Relay inserter for your business.

An inserter will also allow you to correspond with your customers more regularly; easily add revenue-generating inserts; improve the security of mail with envelopes that stay sealed; align mailing addresses for a precise fit in envelope windows and deliver frequent promotional mailings.

If you are a business that regularly communicates with customers via mail, a Relay inserter is not just a luxury – it is a must-have.

Relay inserters are machines you can stake your business on.

For more information call 010 300 4893.

 

PBSA upgrades to Relay inserter range

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Relay 3000 & 4000The customer communication firm has just launched a new suite of mail folding and inserting machines that will fit any size business’ needs.

Being a company that believes in moving with the times – and bringing its customers only state-of-the-art technology – PBSA has upgraded its folding and inserting machines to the Relay range from global technology company Pitney Bowes.

The move gives pbOffice – the division of PBSA that provides automation solutions to serve mailing, marketing and communication applications for small and medium-sized enterprises – the ability to better serve its customers by being able to more accurately align machine specifications to specific application needs.

Quieter to operate and more aesthetically pleasing, the new Relay inserter range is more office-friendly. More importantly though, the Relay ranges drives higher performance, increasing productivity and allowing you to focus your time and energy on driving your business.

The Relay range of inserters comes with a number of vital features and scores of benefits. These state-of-the-art machines come with guarantees of:

  1. Data protection for your customers: This is an invaluable benefit, especially given the country’s personal information laws (does the term POPI Act ring any bells?).
  2. More productivity, less wasted time & money: Relay inserters offer a proven, easy-to-use platform that delivers fast, accurate and affordable mail assembly.
  3. 100% Accuracy – every time: The Relay range of inserters was specifically designed to deliver accurate, reliable processing of mail – so you can be confident your mail is not only getting out on time, but the right information is getting to the right customer. Every time.
  4. Ease of use: Even if you’re not technically inclined, you can be up and running with your Relay inserter in no time, ensureing your monthly mail gets out quickly and easily.
  5. Customisation: You shouldn’t have to tailor your mail programmes to the limitations of your equipment. With the Relay range of inserters, you have the ability to process various sizes of letters with the option of processing flat-sized envelopes or mailers.

For more information and model specifications relating to the various machines offered by pbOffice, click on the links below:

For more information on pbOffice products and services call 010 300 4893.

Mining and the air you breathe – how you can mitigate the health risks

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coal mining pollutionThe effects of mining on human health are shocking. Take control of the air you breathe indoors with an air purification system.

South Africa is a mining mecca and, while the country’s mining riches may be great for the economy, the same cannot be said for our health.

Fortunately, however, the serious health risks associated with mining pollution – as outlined in this article, below – can be considerably mitigated by purifying the indoor air you breathe at home and at work with a good quality air purification system.

pbOffice, a division of PBSA, offers a range German-made air purifiers, humidifiers and combo units to serve all household and business premises indoor air purification requirements. Designed and manufactured by Ideal in Balingen, Germany our state-of-the-art devices work on a multi-stage air purification system, which filters almost 100% of pollutants from the air before they reach your lungs.

Mining in South Africa and your health

The adverse effects of mining activity on human health – and the environment at large – is a stark reality that environmentalists, politicians and civil activists alike have been trying to grapple with for years now. Unfortunately, it is a reality we cannot escape.

South Africa – the world’s third largest coal exporter – is also home to a host of other minable minerals, including diamonds, gold, platinum, palladium, chromium, uranium, manganese, ilmenite, zirconium, vanadium, rutile and vermiculite.

Over the past few months there has been a heightened focus on the effects of coal mining, in particular, on human health. In September, UK-based air quality and health expert Dr Mike Holland visited South Africa and uncovered some shocking air quality issues surrounding the country’s coal-mining activities.

According to Holland, air pollution from coal-fired power stations kills more than 2 200 South Africans and causes thousands of cases of bronchitis and asthma in adults and children every year. The accumulative monetary damage to the economy – which includes healthcare costs and lost working days – is more than R30-billion a year.

The recent visit follows in-depth research undertaken by Holland last year. Commissioned by local non-profit environmental justice service groundWork, Holland’s findings are contained in a report entitled Health impacts of coal-fired power plants in South Africa.

Shocking figures

These are some of the estimated annual impacts Holland attributes to air pollution from the burning of coal in South Africa:

  • 2 239 deaths – 157 from lung cancer, 1110 from ischaemic heart disease, 73 from chronic obstructive pulmonary disease, 719 from strokes, and 180 from lower respiratory infection
  • 2 781 cases of chronic bronchitis in adults
  • 9 533 cases of bronchitis in children aged 6 to 12
  • 94 680 days of asthma symptoms in children aged 5 to 19
  • 2 379 hospital admissions
  • 3 972 902 restricted activity days (all ages)
  • 996 628 lost working days

On 26 September 2017, the South African Medical Research Council released research findings on Air Quality and Human Health in South Africa that corroborate the gravity of the situation, as laid out in Holland’s reports.

The council report outlines how air pollution plays a direct role in a number of adverse health conditions in adults and children, and points out that the situation is only set to worsen, due to climate change.

The report highlights indoor air as one of the biggest culprits in its report background: “In 2015, 6.4 million deaths (and 167.2 DALYs*) were attributed to air pollution globally. Household air pollution accounted for 2.8 million of these deaths [and] ranked [as the] 7th leading risk factor attributing DALYs globally in 2013.”

Reduce your risk

There is an often-quoted statistic that indicates many adults spend up to 90% of their time indoors, between home and the office.

What’s worse, is that children are now starting to spend more time indoors in South Africa too. Earlier this year, in February, Stats SA’s Victims of Crime survey revealed that most South Africans spend less time in public open spaces or allow their children to play outside for fear of crime.

When you consider that some studies have shown indoor air to be two to five times more polluted than the air outside, it is clear that it is the indoor air that we breathe which should be our first line of attack when it comes to defending our – and our children’s – lungs.

And this goes for office workers, too. According to research conducted by the University of California’s Lawrence Berkeley National Laboratory, employers can improve workforce performance by up to 10% through improvements in the quality of indoor air.

Air purifiers have been proven to limit the risks of illness caused by airborne pollutants by eliminating the vast majority of airborne substances that are a danger to our health and well-being, and cleaning the air we breathe.

In light of our environmental circumstances, never has it been more crucial than it is today, to ensure air we take into our lungs on a daily basis – both at home and at work – is clean. Invest in your health today, by investing in an air purifier.

For more information on the various Ideal models and features, visit our Air Purifiers web page or call 010 300 4893.

[NOTES]

* The disability-adjusted life year (DALY) is a measure of overall disease burden, expressed as the number of years lost due to ill-health, disability or early death.

[REFERENCES]

  1. Wikipedia – Economy of South Africa
  2. Wikipedia – Mining industry of South Africa
  3. co.za – Effects of Mining on the Environment and Human Health
  4. ee Publishers – Air pollution from coal power stations deadly
  5. Dr Mike Holland – Health impacts of coal-fired power generation in South Africa (PDF)
  6. South African Medical Research Council – Air Quality and Human Health in South Africa (PDF)
  7. Huffington Post – How employee productivity chokes on indoor air
  8. EPA’s report on the Environment – The importance of indoor air quality
  9. Sandton Chronicle – Stats SA – South Africans spend more time indoors because of crime

The future of digital onboarding is here

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An integration between two of pbDigital’s software platforms makes it possible for financial institutions to digitally onboard customers in record time.

A recent integration between SignFlow and pbVerify has created a platform for digitally onboarding customers that is about to change the way credit is granted –in terms of risk management, compliance and convenience.

Although pbVerify has offered digital onboarding – an advanced customer activation product designed for financial institutions – for some time, never has this tool been as powerful as it is now, with the incorporation of SignFlow digital signatures.

Digital onboarding was introduced specifically to A) improve the customer experience by making it easier for them to activate and use financial services products, and B) give financial institutions a more secure and scalable means of growing their business.

That said, it makes no sense for institutions and their customers to have to switch back to manual halfway through the digital process of onboarding, to finalise the process with signatures – the old way of doing things.

Since pbDigital is all about innovation, meet the new way of doing things…

Now, with pbVerify’s integration with SignFlow, you can say goodbye to the expensive and onerous manual methods associated with finalising the process of customer onboarding – printing of forms, signing by hand, scanning, uploading and emailing – and say hello to a new fast and fail-safe system that allows institutions to onboard customers entirely online, in a fraction of the time and at a fraction of the cost.

No longer do red tape and geographical circumstances play a part in how long it takes to finalise the onboarding process. With SignFlow, it is simply a case of sending the completed online form to the designated signatory or signatories for approval – all via a secure, legal online platform. No more physical records, no more running around, no more waiting – and, most importantly, no more jeopardising of customer data.

Compliance & security

In today’s legal milieu, with the Financial Intelligence Centre Act (FICA) of 2001 and the Protection of Personal Information (POPI) Act of 2013 binding businesses to stricter data protection criteria than ever before, there is no margin for mistake.

With pbVerify and SignFlow behind your onboarding process, FICA and POPI compliance concerns are a thing of the past.

These software platforms – now integrated into one seamless onboarding solution – offer financial institutions an efficient and guaranteed means of making sure business processes and IT systems comply with the law when dealing with customer data.

 

This is how our new onboarding solution works, in a nutshell:

Front-end: Customer Online App

  1. The customer fills out pbVerify’s intelligent digital onboarding form (complete with auto-population and including Home Affairs/CIPC verification, as applicable).
  2. Details of the designated signatory or signatories (approver/s) are entered.
  3. The signatory/signatories are notified pbVerify has received a customer activation form, of which they are the listed party/parties responsible for sign-off.
  4. The said party/parties follow the link provided, and sign the application form online using SignFlow.
  5. The application process is complete.

Back-end: Admin/Credit Control

  1. Once the customer has completed the application, admin/credit control will get notified of a pending application and can log in to the admin portal, in order to run the required credit and compliance checks.
  2. The digitally-signed agreement/contract can be downloaded online for review and compliance validity confirmation.
  3. If required, different checks can be generated such as CIPC, Bank Code Updates and Full Credit reports.
  4. Once checks are done, the system can notify the relevant department of the application status and pending credit facility.

NOTE: All internal checks are scoped according to customer-specific scope and requirements. This is all customisable, according to business’ specific needs.

Welcome to the future of digital onboarding – an error-free, fast, secure way of procuring new customers.

 

ABOUT OUR COMPANY

pbVerify and SignFlow are products of pbDigital, a division of customer communications firm PBSA.

About pbDigital

pbDigital is the software division of PBSA, which specialises in a range of software products designed to help clients communicate more efficiently with their customers.

pbDigital’s software offerings can be classified according to the following categories:

  • eSign document workflow, digital signature and PKI integration solutions (SignFlow https://www.signflow.co.za/)
  • Credit risk management, data & credit bureau API integration and customer on-boarding
  • Enterprise content and document management
  • Business process automation software with multi-channel output tools and workflow

 

About PBSA

With a rich history of innovation dating back over 90 years, PBSA (formerly Pitney Bowes SA) is a leading customer communications company, offering software, equipment and services to help companies improve operational efficiencies and connect with their customers in more meaningful ways.

Based in Midrand, Gauteng, PBSA understands both hardware and software solutions and is optimally positioned to provide a secure, committed support infrastructure to its Southern African customer base. The company’s solutions help companies engage customers, gain business insight, manage document workflow and ultimately optimise overall business performance.

PBSA believes innovation and growth go hand-in-hand with long-held ideals such as collaboration, integrity and accountability.

PBSA embraces the fast-changing world of technology, which today sets the tone for the business going forward. The company has transformed – and continues to transform – from a purely paper-based to an integrated digital business that serves the market through its own time-honoured patented technology and an extensive network of channel partners.

Everything the company does has one goal – to help its clients communicate more effectively with their customers.

Hello clean air, goodbye hay fever

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summer allergies

Investing in a good quality air purifier will create a pure-air haven for you and your family, curbing those pesky summer sniffles.

It’s the height of summer, many South Africans’ favourite season and a time when you should be enjoying the radiance and outdoor activities the season brings – but you feel like you’ve been battered with a winter flu stick.

If this sounds like you – runny nose, watery eyes, sneezing, coughing, itchy eyes and nose – you may be one of the many people who suffers from seasonal allergies, also known as hay fever. This is a type of inflammation in the nose caused by the immune system overreacting to allergens in the air. Although pollen is the primary culprit, other common airborne irritants like pet dander, smoke and dust exacerbate the condition.

According to the Allergy Society of South Africa, up to 20% of South Africans suffer from allergic reactions, with hay fever being rife – especially during change of season. And, although this often overlooked ailment does not come with the same level of notoriety that winter conditions like flu do, it can be just as debilitating.

And it is not only during waking hours that hay fever affects health and performance. According to research, two-thirds of hay fever sufferers continue to experience symptoms while trying to sleep. “[These people] are losing an average of more than an hour of sleep a night as they struggle with streaming noses and itchy eyes,” writes the UK’s Daily Mail.

“An estimated 80 per cent of people with asthma are at increased risk of having an attack because they also suffer from hay fever.”

Now for the good news

But don’t cancel your summer plans just yet – the good news is, there are sure-fire means of managing and mitigating hay fever symptoms considerably. pbOffice, a division of PBSA, offers you one of the most safe and effective of these with its German-made indoor air purification systems by IDEAL.

Studies have shown that people spend around 90% of their time indoors – a figure that is rising, not abating – and indoor air can be up to 100 times dirtier than the air outside. Unlike the outdoors, airborne irritants and bacteria are largely trapped, churning constantly in the indoor air that we spend so much time breathing in.

A good quality air purifier in your home and office environment can trap up to 100% of these summer spoilers, including germs, dust, pet dander, smoke, pollen, mould spores, odours and vapours and various allergens.

Award-winning online information source HowStuffWorks, confirms air purifiers – in particular those that have met the strict regulations and attained HEPA (high efficiency particulate air) certification – can help with allergies.

“No matter how much you clean your home, you cannot rid the air completely of allergens and other airborne irritants. Air purifiers are devices that are designed to clean the air in your house and improve the quality of air you and your family breathe.”

pbOffice’s range of top-quality air purifiers feature all the vital mechanisms that are needed to turn contaminated, harmful indoor air into clean, allergen-free air – including HEPA filters and intelligent air quality sensors.

Our devices work on a multi-stage air purification system, which filters almost 100% of the smallest particles and pathogenic germs from the polluted air before they reach your airway.

Investing in an air purifier for your home and office will allow you to breathe and sleep better, by turning your indoor environment into a safe, clean haven away from the wave of airborne irritants that vex you on a daily basis.

For more information, visit our Air Purifiers web page or call 010 300 4893.