Nedbank sees ‘material digital transformation’ of its client base
SA’s fifth-biggest bank by value says clients are embracing digitisation in the wake of Covid-19
10 August 2022 - 08:34
UPDATED 10 August 2022 - 16:59
Nedbank has noticed a material shift in client behaviour in the wake of the Covid-19 pandemic, resulting in a move away from branches towards digital channels, while customer appetite for electronic payments has also spiked.
SA’s fifth-biggest lender by market value has spent about R10bn on a complete refresh of its IT stack since 2015 and says the process is about 89% complete. Nedbank spent another R600m on IT and software development in the first half of 2022 and expects to lay out a further R1.3bn before completing the managed evolution of its IT system by end-2023...
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