African bankers meet to discuss going digital

Global Business

African bankers meet to discuss going digital.00_00_59_19.Still005

The Annual African Banking Retail Conference was held in Johannesburg, South Africa, to discuss challenges facing the industry, and to find ways of increasing financial inclusion.

The industry believes the adoption of digital platforms will improve things as a whole. CCTV’s Sumitra Nydoo filed this report.

Follow Sumitra Nydoo on Twitter @sumitranydoo.

African bankers meet to discuss going digital

African bankers meet to discuss going digital

The Annual African Banking Retail Conference was held in Johannesburg, South Africa, to discuss challenges facing the industry, and to find ways of increasing financial inclusion. The industry believes the adoption of digital platforms will improve things as a whole. CCTV's Sumitra Nydoo filed this report.

More details:

  • Africa still remains largely ‘un-banked’ due to the lack of infrastructure. But with new technology applications like M-pesa, there have been significant increases in new bank accounts.
  • Experts at the Retail Banking Conference agree that traditional banking methods are no longer adequate enough to meet the needs of customers in a fast-changing world of technology. Traditional financial institutions will have to use technology to provide more access.