IT NEWS NIGERIA
Future of Banking webinar promises to gather financial leaders across the continent and to unpack trends and transformation in African banking
The organizers of the Future of Banking webinar has said it is a platform for financial leaders from across the continent to discuss the fast-changing landscape of banking and what needs to be done to stay relevant.
The 2021 event, themed ‘Megatrends Reshaping Banking in Africa’, is hosted by CNBC Africa and sponsored by Standard Bank, Euro Exim Bank and Liquid Tech. It will take place on the Zoom platform with live CNBC Africa broadcasts on Tuesday, 30 November. Register HERE.
To be successful, the bank of the future needs to embrace emerging technology, remain flexible to adopt evolving business models, and put customers at the centre of every strategy. In this quest for financial inclusion, banks will have to bring financial services to underserved customers; create opportunities for individuals, businesses, and economies; and boost prosperity.
The banking industry is being reshaped by four major trends:
1. Increased customer expectations;
2. Data as the new currency;
3. The platformification of banking; and
4. The evolution of banks into technology companies.
As Falk Rieker, the Global Vice President Banking of SAP SE, explained: “Banking 4.0 will see banks rethinking banking from the ground up. Human experience is the new disrupter in the experience economy. This will affect the way banks interact with customers and manage traditional bank products, processes, and finance and risk operations.
“The implementation of new technologies and talent will be required to succeed in the digital age. Banks will change to look and operate more like technology companies, providing banking and related nonbanking services as they become digital platforms. Data-driven intelligence will differentiate the successful from the less successful financial services providers, which will include banks and new entrant nonbanks.”
The webinar will include informative panel discussions and talks by influencers in the African banking world. One of the speakers will be Dr Graham Bright, Head of Compliance and Operations at Euro Exim Bank Ltd. Commenting on the upcoming event, Dr Bright said: “The Future of Banking conference, with key industry speakers, involving those across the entire in the eco-system of trade from initiation of payment to settlement and reconciliation, will provide an all-encompassing view of the challenges and solutions available to increase trade, financial inclusion and assist in alleviating poverty through free trade agreements.
“The trade ecosystem remains complex, with diverging taxonomies and duties involving many parties such as international banks, shippers, inspectors, insurers, advisers, customs, buyers and sellers. However, there are commonalities which will enable participants across the 54 countries in Africa to exploit the new demand for raw materials and services, build manufacturing centres and to supply finished goods to new markets not previously possible.”
Each session will reflect what’s happening on ground, the speed of transformation, and what needs to be done to adapt to the market. Panel discussions and talk topics will focus on:
· The value of online banking channels in a mobile-centric world
· What will a future bank look like 20 years from today?
· The changing face of banking: cash, mobile money, digital payment
· Banking’s response to the Fintech challenge in Africa
· Cyber risk and financial crime
The 2021 Future of Banking – hosted by CNBC Africa and sponsored by Standard Bank, Euro Exim Bank and Liquid Tech – is a free-to-attend webinar hosted on Zoom on Tuesday, 30 November. Don’t miss out on this informative and impactful event!
