Verticals

Transforming legacy into digital

Old Mutual epitomises longterm financial stability, so how is it progressing on its digital and data journey?

22 November 2020

If you want a local example of long-lived corporate success, there are few as good as Old Mutual. With a major focus on encouraging us spendthrift South Africans to save for a rainy day, Old Mutual plays in the retirement, life insurance and wealth space, among others. Proudly flaunting its long heritage, the organisation is characterised by a steady and conservative mindset and focus on the long-term future. It would seem an immense task, technically and culturally, to transition it to a modern, tech-savvy player. Chief digital and data officer Vuyo Mpako describes that mission as trying to transform a `175-year-old elephant to feel like a startup’.

With nearly two centuries of history, the company obviously has well-established processes and approaches to its operations. “There are certain ways we think about resources and make decisions, and we have a massive face-to-face distribution.”

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