Building a
Digital-First Bank

The African Digital Banking Transformation Report 2020

African banker Backbase 1 - 2020 Report: Digital Banking Transformation in Africa | Backbase


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The Digital Transformation Imperative

With the rise of technology adoption and a growing economy, Africa’s digital banking landscape is set to develop at a record pace in the next few years. A recent survey, conducted among African banks by our partner African Banker, showed that the race for digital is heating up:

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of African banks regard digital transformation as one of the most important factors in their bank’s growth strategy.
(Source - African Banker, 2020)

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of African banks consider better client services to be the single most important priority for digital transformation.
(Source - African Banker, 2020)

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of African banks plan to increase their digital transformation expenditure over the next year for retail banking.
(Source - African Banker, 2020)

About the report

There’s no doubt that all African banks recognize the importance of digital banking in their growth strategy. Improved access to digital services can help increase the financial inclusion of many customers across the continent while supporting local economies. The opportunities are massive for banks willing to take the lead and digitally transform their business to truly engage with their customers.

Together with African Banker, we’ve published a comprehensive report that aims to provide a clear roadmap for digital transformation journeys across the African banking sector. In this report, you will find valuable insights on how to get started or further drive your digital initiatives. Download the report now and get access to:

  • An outlook of the current digital transformation strategies of Tier 1 Banks in Africa.
  • A step-by-step guide on how to efficiently develop a client-first digital transformation strategy.
  • First-hand insights from six senior executives from the leading banks Absa Group, Nedbank Group, Equity Bank, Banco Sol and Banco Atlântico.

Download the Report

African Banker Report Cover - 2020 Report: Digital Banking Transformation in Africa | Backbase

Learn how to tackle your digital transformation through practical insights from industry peers

“A very big part of our technology roadmap is digitizing our onboarding process which is absolutely critical.”

Christine Wu - 2020 Report: Digital Banking Transformation in Africa | Backbase

Christine Wu
Managing Executive RBB:
customer value management, Absa Group

“Equity Bank has to become a technology company, because, essentially, all our decisions will be made through data.”

James Mwangi - 2020 Report: Digital Banking Transformation in Africa | Backbase

James Mwangi
CEO, Equity Bank

“Data is of no use if we cannot convert it into services, and therefore a realisable revenue.”

Dr Terrence G Sibiya - 2020 Report: Digital Banking Transformation in Africa | Backbase

Dr. Terence G. Sibiya
Group Managing Executive,
Nedbank Africa Regions, Nedbank Group

“If you don’t connect to digital you cannot offer what you’d like to offer. If you are not able to do that, you don’t grow.”

Nelson Candeeiro - 2020 Report: Digital Banking Transformation in Africa | Backbase

Nelson Candeeiro
Head of Electronic Banking,
Banco Sol

“Digital transformation is key for us in every aspect. Not only for customer attendance, but also in terms of internal operations at the bank.“

Silvio Ferreira - 2020 Report: Digital Banking Transformation in Africa | Backbase

Silvio Ferreira
Deputy-Director Digital Banking and Innovation,
Banco Atlântico

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