5 questions every retail banking CXO in Africa should be asking in 2025

Retail banking in Africa is changing fast. Over the past few years, we’ve seen a wave of digital investment, a rise in mobile-first strategies, and a renewed focus on reaching the underserved. These are positive shifts.

But at the same time, customer expectations have grown even faster. People want easier access, better experiences, and more value from their banking relationships. They are no longer comparing banks to other banks. They are comparing them to the best digital experiences they have anywhere.

Based on the latest Africa Digital Banking Experience Series, which captures insights from 203 banking leaders across 40 African markets, here are five questions I believe every CXO should be asking this year.

Many banks are tracking the right metrics: operational efficiency, digital revenue, onboarding conversions. But those numbers only tell part of the story.

In the report, 26% of customers have already switched banks due to poor digital experiences. That’s one in four. Meanwhile, most banks still rely heavily on internal KPIs without always connecting them to how customers actually feel.

It’s worth asking: are we truly measuring the experience from the customer’s point of view.

Today, nearly every bank has launched digital services. In fact, only 6.3% of banking leaders surveyed said fewer than 20% of their customers use mobile or online platforms. But at the same time, only 54.8% reported that more than 40% of their customers actively use them.

This tells us that digital access doesn’t automatically translate to engagement. Customers may be downloading apps but not using them. They may be starting onboarding journeys but not completing them. The experience may exist, but it may not yet feel intuitive, trustworthy, or worth coming back to.

Driving consistent adoption takes more than availability. It requires a clear focus on usability, trust, and value.

Integration is top of mind for many banks. According to the report, 84.4% of respondents said they are actively integrating digital and physical branch services, and another 66.4% aim to offer smooth transitions across channels.

But for customers, it’s the small friction points that matter. Can someone begin onboarding online and finish it in a branch without repeating information? Can they receive consistent support across mobile, call center, and in-person touchpoints?

If not, then those silos still exist. Not in the technology stack, but in the customer experience.

Many CEOs see digital transformation as a way to increase market share. In fact, 57% of banks surveyed said exactly that.

But growth today looks different than it did a few years ago. Fintechs, mobile wallets, and super apps are reshaping how people engage with money. And they are doing it with speed, simplicity, and convenience at the core.

Are we investing in transformation to truly differentiate, or simply to avoid being left behind?

Financial inclusion continues to be one of the most important priorities for the continent. Over half of the banks we surveyed are focused on expanding access, especially for the unbanked and underbanked. At the same time, customer expectations are becoming more personal, more immediate, and more contextual.

To deliver on both inclusion and personalization, banks need digital platforms that are scalable, adaptable, and built for long-term evolution. This isn’t just about adding features. It’s about building the foundation for relevance, both now and in the years ahead.

These aren’t just strategy questions. They are leadership questions. And they will define the banks that lead Africa’s next chapter of retail banking.

The Africa Digital Banking Experience Series 2025 offers a fresh look at how institutions across the continent are navigating this moment of change. It highlights what’s working, where the gaps are, and how banks can align their ambitions with real customer impact.

Download the full report to benchmark your bank’s progress and shape your digital strategy for the road ahead.