Digital Banking in Africa is gaining significant traction in terms of regulatory initiatives, technological advancements, and customer preferences. However, legacy core systems have acted as a barrier for African banks to truly embrace the benefits of digitisation. Legacy systems have long been marred by process inefficiencies, high time to market, rigidity, and limited functionality to integrate with new-age systems. As a result, Africa as a market player, has lagged behind its global counterparts.
The webinar will covered four anchors of core modernisation and approaches associated with core banking modernisation and the advantages that follow with the adoption of a modern core. The panelists discussed every aspect related to the successful implementation of a modern core, including market factors and potential roadblocks. The webinar emphasises the need for African banks operating on a legacy core to take the next step towards core modernisation to unlock the true potential of digitisation in terms of customer-centricity, scalability and building an integrated banking ecosystem in the continent.
Al-Amin Sadruddin Merchant,
Group Chief Technology Officer and Digital Transformation, Exim Bank (Tanzania) Limited
Director ICT and Innovation, Co-operative Bank of Kenya
Business Head, Digital Core, iGCB, Intellect Design Arena
Principal at Cedar Management Consulting
Managing Editor, IBS Intelligence (Moderator)
Key topics discussed:
Raju Dryani, highlighted 5 key trends in Global Banking including Contextual personalization, Open Finance, Composable Banking, Cloud for Scale and the Rise of Real-time payments. I also talked about how banks need to strike a perfect balance of talent, mindset, technology, and processes to achieve successful transformation.
Al-Amin Sadruddin Merchant, talked about some of the key priorities of CXOs like Channel growth, cost reduction, Operational Efficiency, Regulatory compliance, Competition, Single View of the customer and more.
Charles Washika, added the importance of channels to a bank’s brand.
Vincenzo Casillo, talked about anytime anywhere banking and self-service options which are gaining importance in Africa.
Watch webinar recording