Temenos, a software specialist for banking and finance, welcomed the leaders that are driving real change across the industry in Africa at the Bank of the Future forum.
The event took place at the Sofitel Hotel Ivoire in Abidjan, Ivory Coast and focused on software solutions for the digital future of financial services.
According to the McKinsey Global Report 2018, Africa’s retail banks have compelling reasons to embrace digital transformation, with its overall banking market being the second fastest growing and second most profitable of any global region.
Nearly 300 million Africans are banked today, which could rise to 450 million within five years, while 40% of Africans prefer to use digital channels for transactions.
“There are many ways and no shortage of opinions on how to become digital and the journey in many cases will be painful,” said Ivan Bladel, Director for French Speaking Africa at Tememos.
He added that the forum is an opportunity for those in the banking sector to begin the journey to digital transformation with a focus on:
- Satisfying customers with consistent, personalised, instant and integrated experiences across all products, on all channels, anytime and anywhere
- Replacing a patchwork of legacy systems with end-to-end, fully integrated and open digital banking software
- Driving cost-eﬃciencies, error-reduction and increasing the speed to bring new products to market that are not only inevitable, but essential to their competitive edge
- Accelerating into an era of open banking where they can collaborate with an ecosystem of third parties to add more value to their customers’ lives