Messages From Machines

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As many South African households struggle to get by financially and live from paycheque to paycheque, they often experience high levels of financial stress. While stress levels are the highest among low-income earners, more than a quarter of households with a monthly income above R40,000 also experience high levels of financial stress. It is not surprising that many South Africans are interested in minimising their bills and creating budget plans.

“While most South Africans, irrespective of income, wealth or age, were found to be open to using automated advice for reviewing their finances, the type of advice they were looking for differed. According to Deloitte’s Automation Of Financial Advice report, which assessed South Africa’s readiness for automated financial advice, consumers in the age group between 34 and 44, the least affluent with an annual income of up to R750,000, were most interested in using automated advice to help them with minimising their bills,” says leader of Deloitte Africa’s Robotics and Automation practice, Morne Fischer.