Locstat has been recognised as one of the most innovative tech companies for 2024 in FinTech Global’s first FinCrimeTech50 list. A distinguished panel of analysts and industry experts carefully selected the finalists from over 400 nominated enterprises. This new list, launched by the specialist research company FinTech Global, highlights the industry’s leading innovators at the forefront of combatting money laundering, fraud and financial crime in financial services. We are proud […]

Recent research highlights that more than 52% of fraud now happens over digital channels, surpassing conventional fraud for the first time, with South African businesses reporting a 49% increase in the 12 months preceding the survey. These fraudulent activities cost South African businesses nearly four times (3.64x) the lost amount to report, investigate, recover and restore lost funds and damaged client relationships. Overall, 69% of consumers reported being targeted with […]

A company’s success is often determined by the targets achieved and the profit accrued. So how do you grow year on year and stay ahead of the competition? The simple answer is by unlocking the value in your data. Data is the new oil and information is the new currency. Knowing what, where, when and how your customers are purchasing provides insight into why and extrapolates into enhanced customer experience, […]

Every day, 2.5 quintillion bytes of data is created and approximately 2.14 billion people generate a spend of $1 million per minute purchasing goods and services online. That’s an immense amount of data that tells a story about consumers, operations, opportunities, products, sales and more. Admittedly, some of this data is redundant or irrelevant and some is perishable – if you don’t use it timeously, it’s worthless – but a […]