{"id":603160,"date":"2022-07-06T08:50:02","date_gmt":"2022-07-06T06:50:02","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=603160"},"modified":"2022-07-06T08:50:02","modified_gmt":"2022-07-06T06:50:02","slug":"why-african-banks-need-to-embrace-digital-technologies","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/603160\/why-african-banks-need-to-embrace-digital-technologies\/","title":{"rendered":"Why African banks need to embrace digital technologies"},"content":{"rendered":"<p>African banks need to learn from the continent&#8217;s top telecommunications companies to provide accessible financial solutions that support all Africans.<\/p>\n<p>This is according to Temenos Managing Director for MEA, William Moroney.<\/p>\n<p>\u201cTelecommunications companies have capitalized upon the sluggish attitude of traditional banks and launched their own customer-friendly mobile money products,&#8221; said Moroney in a recent blog post.<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/www.temenos.com\/news\/2022\/06\/27\/telcos-banks-and-the-threats-they-face\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_campaign=July+2022\" target=\"_blank\" rel=\"noopener\"><strong>Click here to read the full Temenos blog post.<\/strong><\/a><\/strong><\/li>\n<\/ul>\n<p>&#8220;The banking community remains relentlessly conservative and has taken few initiatives to help the unbanked and those outside metropolitans and urban areas,&#8221; said Moroney.<\/p>\n<p>This is evident given that so many banks are closing their physical branches, limiting rural customers&#8217; access to banking services.<\/p>\n<p>In contrast, Moroney highlights that telecommunications companies have prioritized unserved and underserved areas regarding connectivity.<\/p>\n<p>This has opened up new opportunities for these telecommunications businesses to offer lending, insurance, savings, and other financial products that banks traditionally provide.<\/p>\n<p>Moroney&#8217;s blog post provides examples of connectivity driving mobile and digital payment solutions across Africa&#8217;s top telecommunications companies.<\/p>\n<p>He implores African banks to work with these telecommunications companies to get back into the market.<\/p>\n<h3 class=\"my-4\"><strong>Learn more about digital banking<\/strong><\/h3>\n<p>Temenos is hosting a virtual roundtable focused on helping banks embrace digital technologies and find a route back into the broader market.<\/p>\n<p>Temenos is well-positioned to provide insight into this important topic as a leading player in the digital banking solutions industry.<\/p>\n<p>Respected industry players will join experts from Temenos to explain how banks can profit by embracing digital technologies that serve both new and existing customers.<\/p>\n<p>Key insights from the roundtable discussion include how to:<\/p>\n<ul>\n<li>Use personalization to improve the digital banking experience.<\/li>\n<li>Increase cross-selling opportunities to drive profitable growth.<\/li>\n<li>Leverage data to provide deep customer insights and enhance business value.<\/li>\n<\/ul>\n<p>The virtual event will take place on <strong>27 July 2022 <\/strong>from<strong> 10:00 &#8211; 11:30 SAST<\/strong>, and if you are operating in the African banking industry, it is a must-attend event.<\/p>\n<p><a href=\"https:\/\/urldefense.com\/v3\/__https:\/tem.mn\/3Ajddg4__;!!M3LOjqNU!ZvtJVsGDJB0NTmN5niEgvgzMLJrPuUEus-Rr6CslBXoyrsJeEZM-PMKUTmDgo7YEDnOCiuJpHBh7$\" target=\"_blank\" rel=\"noopener\"><strong><strong>Click here to sign up for the Temenos event.<\/strong><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>African banks need to learn from the continent\u2019s top telecommunications companies to provide accessible financial solutions that support all Africans.<\/p>\n","protected":false},"author":57,"featured_media":603168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[14161],"class_list":["post-603160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-temenos"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/603160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=603160"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/603160\/revisions"}],"predecessor-version":[{"id":603170,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/603160\/revisions\/603170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/603168"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=603160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=603160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=603160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}