Next Wave: Banks built the trust. Now they’re building the tech
- Kenya's Absa Bank reported that over 90% of customer transactions were happening outside physical branches in 2024.
- GTBank in Nigeria grew its active digital user base by 38% year-on-year due to a revamped mobile app and chatbot assistant.
- TymeBank, a South African fintech startup, became one of the fastest-growing banks by allowing account openings at kiosks in supermarkets without branches.
The rapid evolution of banking in Africa presents both challenges and opportunities for traditional banks. While they must adapt to the digital age, the collaboration with fintechs could lead to innovative solutions that enhance customer experience and financial inclusion. The focus should be on leveraging technology to create seamless, user-friendly services that meet the demands of a younger, tech-savvy population.
