ARTHUR GOLDSTUCK: 'Banks of the future will work like hidden plumbing'
Nedbank's response to innovation has been to embrace the concept of open banking
As newcomers invade SA's staid banking world, the incumbents are reinventing themselves in ways that would have been inconceivable just a few years ago. Rather than erect barriers against the invaders and close themselves off from the innovation that drives the new banks, they are revealing an appetite for co-operation and collaboration.
"Banks are faced with a number of challenges, from changes in technology to changing consumer needs and demands," says Chipo Mushwana, Nedbank's head of emerging payments.