African digital banking report: competing for the modern African customer

African banks are facing a decisive moment in retail transformation. With nearly half of the population still unbanked and digital expectations rising fast, the next wave of growth will be won through experiences that are personal, inclusive, and mobile-first.

This report marks the first edition of the Africa Digital Banking Experience Series, created by African Banker and Backbase. It offers a front-line view into how banks across the continent are transforming retail banking by prioritizing operational agility, digital access, and customer engagement.

Inside, you’ll find data and insights from 203 banking leaders across 40 countries, including:

68% of banks are prioritizing operational efficiency
56% are actively expanding financial access to rural and underserved communities
41% rank cybersecurity as a top priority

Download the report now to explore what it takes to compete and win in the next chapter of African retail banking.

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What are 203 African banking leaders focused on right now?

We asked decision-makers to share their top priorities, pain points, and innovation bets. Here’s what emerged.

Operational efficiency still leads the way

68% of banks are focused on driving efficiency, not just to cut costs, but to create more agile, responsive banking experiences.

Inclusion is gaining momentum

56% of leaders say they’re actively expanding financial access to rural and underserved populations, turning inclusion into a competitive advantage.

Personalization is scaling with AI

From smarter onboarding to real-time offers, banks are using AI and data to tailor journeys and build loyalty in a mobile-first world.

Trust is a moving target

41% of banks ranked cybersecurity as a top concern, making digital trust just as important as product innovation.