Backbase brings 4th edition of African Banking Digital Transformation report to GITEX Africa 2024

Business a.m.

 Backbase, the creator of the Engagement Banking Platform,  a composable platform that empowers banks to accelerate their digital transformation through progressively modernising their main customer journeys, is set to launch the 4th edition of the African Banking Digital Transformation Report at GITEX Africa 2024. The report, produced in collaboration with the pan-African publication African Banker, has become a cornerstone in Africa’s financial news landscape, offering deep insights into the ongoing digital revolution within the banking sector across the continent.

The 2024 edition of the report draws on comprehensive survey data from over 150 banks spanning 35 countries, providing an in-depth analysis of current digital banking trends, key innovations, and the progress of digital transformation. This release underscores Backbase’s commitment to fostering technological advancements and driving financial inclusion in Africa.

 The key highlights of the 2024 Report include:

• Digital Innovation: A detailed examination of the latest technological trends reshaping the African banking ecosystem, with a significant focus on Artificial Intelligence and cybersecurity.
• Financial Inclusion: Analysis of strategies implemented by African banks to enhance financial inclusion, particularly through mobile wallets and super apps.
• Resilience in Adversity: Insights into how African banks are navigating the challenging macro-economic environment while maintaining a strong commitment to digitization.

Backbase will also be a key participant in the Future of Finance Summit at GITEX Africa 2024. It will participate alongside partner organisations Seven and OneTech.

Highlighting the evolving digital landscape, Backbase will join a panel discussion titled “It’s a Bird! It’s a Plane! It’s a… Super App?” Super apps are becoming central to consumer convenience and financial empowerment, with digital wallets and mobile money leading this transformation. Africa, with its rapid smartphone adoption, is poised for a significant shift towards these embedded financial solutions.

Heidi Custers, digital transformation director, Africa, at Backbase, will address the audience during the panel discussion.

“Africa has always been at the forefront of mobile payments innovation. Our participation in GITEX Africa 2024 with our African partners and the release of our latest report underscores our commitment to advancing digital banking across the continent,” said Custers.

GITEX Africa 2024, the continent’s largest tech and start-up show, will be held from May 29 to 31, 2024, in Marrakesh, Morocco. The event, under the high patronage of  King Mohammed VI, is hosted by the Digital Development Agency (ADD) and the Moroccan Ministry of Digital Transition and Administration Reform.