Banks in Africa are transforming the way they do business

Lindsay James
Lindsay James
By Lindsay James on 16 December 2016
Banks in Africa are transforming the way they do business

Efma and Oliver Wyman are pleased to publish a brand new regional review which takes an in-depth look at how retail financial organisations across Africa are transforming their businesses with digital technologies.

The review, which is titled: ‘Banking in Africa: Digital Transformation’, brings together some of the best examples of digital transformation taking place across the Africa region through a mix of interviews with high profile banking executives, in depth case studies and innovation highlights.

“Banks across Africa are leaping at the chance to adopt new technologies that are allowing them to develop new ways of doing business,” explains Vincent Bastid, Efma’s CEO. “They’re changing the way they connect with their customers, they’re enhancing their value propositions and they’re optimising their operations along the way. In this regional review we present the main challenges and opportunities that banks across Africa face as they seek to connect with a new generation of customers and put digital at the centre of their business models.”

The review features insight from leaders including Nedbank Group, Mauritius Commercial Bank and Sterling Bank about how they’re embracing the latest technology advances to offer exciting new customer experiences and product offerings in a more cost-effective manner, and tackle financial inclusion head on.

Meanwhile, in a special roundtable article, senior executives at some of the continent’s largest banks share their thoughts on digital opportunities and how the retail banking landscape is evolving.

The review also summarises some of the most exciting innovations that have been introduced to the market over the last year.

Download the report here.

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