IBM Hybrid Cloud for Financial Services is developed to assist institutions to address security, and resiliency requirements while supporting business transformation and innovation. This has led banks across Africa including EcoBank, Attijariwafa Bank, United Bank of Africa, Co-operative Bank of Kenya, Nedbank, and Banco Mais to turn to IBM technologies to help advance financial inclusion across the continent. This shows that African banks acknowledge the significance of digital banking in their growth strategy. Improved access to digital services can help increase the financial inclusion of many consumers across the continent while supporting local economies.
Financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately aiming to broaden access to financial services on the continent.
“Enterprises face unique challenges when it comes to balancing innovation and regulatory compliance, especially those in highly regulated industries like financial services,” says Alan Peacock, General Manager, IBM Cloud. “For decades, IBM has been fuelling the transformation of the financial services industry, bringing IBM’s industry experience and leadership in security and data privacy to help banks address those challenges and modernize, transform their operations and offer innovation to their customers.”
“In the past year we have seen banks navigate changes brought on by a growing preference for digital and mobile solutions, increasing smartphone penetration and the demand for convenience, innovation, and simplicity from today’s modern consumer,” says Angela Kyerematen-Jimoh, Regional, General Manager for IBM North, East and West Africa. “As banks across the continent take advantage of the opportunity to provide digital financial services which can boost financial inclusion, IBM is working with Africa’s financial groups to deliver intelligent, cloud-based, digital-first innovation through IBM’s hybrid cloud and AI capabilities.”
Ecobank, the pan-African banking conglomerate with banking operations in 33 African countries, has adopted a hybrid cloud approach to extend its reach to millions across Africa. Using IBM Cloud, Ecobank migrated their flagship mobile banking application to leverage the on-demand capacity of resources that can support sudden spikes in traffic on its mobile banking services. Ecobank also has access to other IBM cloud services that can be used to develop more innovative, digital-first solutions to enhance their own client experience.
With over 12 million customers on its flagship mobile application, Ecobank is on an accelerated digital banking transformation journey and is set out to expand its digital offerings and grow the 30 million digital transactions it already processes on its platforms. As part of this journey, the Pan-African banking conglomerate has built scalable business solutions which allow for ease of integration with third-party providers using their open digital banking platform for a growing customer base.