This is an incredibly exciting time for banking in Africa with banks across the continent embracing innovation to provide their customers with industry-leading products and services. CR2 (www.CR2.com) commissioned global industry analyst Omdia, to evaluate this dynamic banking landscape and study the challenges faced by African banks in adopting a digital-?rst strategy. The Market Whitepaper, ‘The Evolution of Digital Banking in Africa’ also compares and contrasts the nuances across the di?erent regions while pro?ling the digital leaders and what can be learnt from their experiences.

African banks are now focusing on a digital-?rst strategy, making the customer experience central to their transformational plans. This move to digital shows that African banks, not tied down by legacy systems, have a great opportunity to lead the digital revolution through the rapid adoption of digital wallets. The report also highlights that Arti?cial Intelligence (AI) and Machine Learning (ML) will play a key role in the self-service capabilities of banks in underpinning digital banking adoption post-COVID.

As banks progress their digital strategies, it is recommended that they partner with a specialised vendor who can help them respond quickly and e?ectively. This is a view re?ected by Fintan Byrne, CEO of CR2, a digital banking platform provider that o?ers a broad range of Digital, Self-Service and Payments solutions to banks globally and partners with over 60 customers in Africa:

!Customer behaviour has changed rapidly in response to COVID-19 and the banks that will win are those that can respond with speed and agility. Working with a specialist digital plaAorm provider allows banks to accelerate customer engagement projects in response to their customers’ needs while improving operational e?ciency within their wider digital-?rst strategy. Selecting the right partner is more crucial than ever for the banks in Africa, as the shiK from branch to digital and cash to alternative payments accelerates.”

The Omdia Whitepaper highlights a number of banks in Africa who are leading the way on the digital front. Dashen Bank in Ethiopia, in partnership with Moneta Technologies, has experienced a

phenomenal increase of 4,000% in their digital customer base since the launch of their Amole wallet. CIB in Egypt has seen huge growth and success on mobile and internet usage with a 118% increase year-on-year in mobile banking transactions while retail internet users grew by 35%.

Other African banks pro?led include I&M Bank, an East African bank who are creating a digital-?rst culture to enhance operational e?ciency, and Discovery Bank in South Africa, a digital bank that rewards customer behaviour using Arti?cial Intelligence (AI) and Machine Learning (ML).

The Omdia Whitepaper on ‘The Evolution of Digital Banking in Africa’ is available now for download at www.CR2.com. If you would like more information or would like to arrange an interview please contact Nigel Sutton at +353(0)873 92 92 90 or email nige@seventeen59pr.com

About CR2
CR2 provide banks with Digital, Self-Service and Payment solutions to grow their business, optimise their customer service cost and deliver an enhanced customer experience. Headquartered in Ireland, we are enabling over 100 banks in 60 countries to seamlessly connect and engage with their customers on the most critical banking channels today. www.CR2.com