The Digital Banking Report is an initiative by African Banker magazine and Backbase that aims to provide a clear road-map for digital transformation across the banking sector in Africa. The speed at which banks are embracing the po- tential offered by technological changevaries considerably but there appears to be only one direction of travel. It is inconceivable to imagine a bank in a decade’s time where the lion’s share of transactions are not carried out on a digital platform, with time and money savings for both the bank and customer involved.
The number of Africans with bank accounts increased from 170m in 2012 to nearly 300m in 2017 and is forecast to reach 450m by 2022, according to consultants McKinsey. However, most Africans do not have access to tradi- tional banks and the number of bank branches has not changed on the conti- nent over the past five years, so access to physical branches is not improving. […]
You can find the full report here.
Source: African Banker