The 2024 edition of The African Banking Digital Transformation Report revealed that 76 per cent of banks rank digital transformation as either their top priority or among the top three, while the remaining 24 per cent also view it as important
The report released in collaboration with pan-African publication African Banker and Backbase, creators of The Engagement Banking Platform, is a cornerstone in Africa’s financial news landscape, offering in-depth insight into the digital revolution being undertaken by the banking sector across the continent.
This year, cloud computing was the most cited technology being incorporated into digitisation strategies. This overtakes Artificial Intelligence and Cybersecurity & Resilience as the primary driver since our 2023 survey. The result can be explained through the growing sophistication of AI solutions, which sees it spill over into other technology areas including Cybersecurity.
The 2024 edition of the Report draws on comprehensive survey data from more than 150 banks spanning 35 countries, providing an in-depth analysis of current digital banking trends, key innovations, and digital transformation progress. This release underscores Backbase’s commitment to fostering technological advancements and driving financial inclusion in Africa