PODCAST | Shifting banking tech strategies in 2023

Strategies around banking technology are the focus in this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Eshmael Mpabanga, senior manager within the financial services practice at Accenture Africa. 

The discussion highlights how banks could reimagine the way in which they operate using technology. 

Mpabanga says traditional banking operations are no longer sufficient to meet these demands, necessitating a comprehensive re-imagination of banks’ operations. Banks face the dual challenge of keeping pace with technological advancements while meeting customer expectations for seamless, personalised experiences in today’s rapidly evolving digital landscape, he says. 

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The discussion examines some of the fundamental shifts banks can take towards servicing customers better; ways in which finance houses can make use of technologies such as artificial intelligence (AI) and automation.

While banks have used technology systems for decades to deliver their services, Mpabanga says many of these need to be updated and strategies changes. 

SA’s banks, like many others around the world, suffer from having kept such systems for too long. This makes it harder to integrate new technologies and move with the times. 

The panel also reflects on the future of cybersecurity measures for digital banking and what could be done to enhance security measures and what role will data analytics play to help deliver insights and drive innovation?

Business Day Spotlight is a TimesLIVE Production.