In today’s rapidly evolving digital age, customers are increasingly dynamic – their demands shifting and driving exponential change in how products and services are used.
Our challenge as financial service institutions, both traditional and new age, is effectively grappling with the need to consistently update and refresh digital platforms, products and services, while maintaining gold standard digital customer experiences – all at the right economics.
The benchmark for user expectations isn’t limited to peers in banking or fintech – it extends to leading global digital platforms like Meta, Crypto providers, and other intuitive, high-performing technologies, such as Streamers, music, and video.
Constant disruption has become the hallmark of digital transformation in banking, widening not only access and inclusion but also reach. And according to the latest African Digital Banking Transformation Report, the potential for growth in digital banking services in Africa only stands to grow even further.
The African technology landscape is continually evolving, and the ongoing digital revolution that incorporates the majority of the continent’s 1.5 billion people their specific needs is fully underway. Consumers are increasingly digitally savvy and mobile-led across the continent, with 763 million registered mobile money accounts operating in Africa, according to 2022 data from the Global System for Mobile Communications Association (GSMA).
Absa’s own digital adoption rates among customers reflect that, with digital activity rates reaching 80% in some of our leading markets.
Today’s African consumers demand speed, convenience, and user-friendly digital experiences, whether they’re interacting with their bank, an insurance platform, or a tech company. This has raised the bar significantly for financial institutions striving to deliver gold-standard digital interactions, while managing costs and operational efficiency.
The Dual Imperative: Experience and Economics
One of the central challenges for banks and financial service providers is balancing exceptional digital customer experiences with sustainable economics. Delivering a top-tier digital experience requires significant investment in technology, but it also demands a focus on cost-efficiency to ensure profitability.
Many institutions, including Absa, are undertaking a comprehensive digital channel overhaul – a complete ground-up rebuild designed to incorporate cutting-edge digital capabilities, and improved economics by accelerating time-to-market digital products.
As the African digital landscape continues to evolve, maintaining relevance isn’t just about competing with other banks – it’s about standing shoulder to shoulder with the best digital businesses globally. To achieve this, financial services providers must embrace innovation at the intersection of experience and efficiency.
This need to innovate is embodied in the rise of Neobanks, where a continuous digital focus has seen challenger banks continue to seize popularity among consumers. The recent Brand Finance Journal Study, The Banking 500 2025, showed that digital-first institutions were consistently moving up the ranks. While African banking brands saw 22% growth in the past year, none made the Top 100, but those focusing on digital solutions and inclusive finance were punching well above their weight on the Banking 500 index.
Super Apps: The Future of Customer-Centric Ecosystems
But what is the nexus between digital innovation and inclusive finance? Platforms that are both accessible and offer entirely different takes on existing services or are providing new offerings entirely. In recent years, we’ve witnessed ongoing discourse around the “Super App”, apps that integrate all banking and service functions (like insurance, investments, and digital storefronts) onto a single platform, which many claim are revolutionising the banking sector.
They provide the versatility customers need, but when developed correctly, offer highly personalised experiences that are tailored to a specific user. Unlike traditional banking apps, which focus solely on financial transactions, super apps cater to broader lifestyle needs. They enable users to access services such as booking flights, purchasing groceries, or arranging entertainment, all within a single interface.
However, if they are not user-friendly, or are prone to service disruptions, they can completely destroy trust with their associated brand – which is why investing in such platforms must be done with the utmost care, and the right developer partners.
But when these apps are done right, such as the Safaricom’s M-PESA digital payment platform, which allows other businesses to embed their own apps inside it, they can utterly dominate in a given market.
Developing New Digital Ecosystems in Financial Services
Absa’s own work with Safaricom originated from our goal of delivering exceptional customer experiences. In Kenya, we’ve pioneered embedded finance solutions to enable customers to seamlessly access Absa financial products, such as credit, directly through their Safaricom interface. By integrating our offerings into an ecosystem that customers already trust and use daily, we create a frictionless user experience, embodying the principles of embedded finance.
In Mauritius, we have also established a robust open banking framework that facilitates integration with third-party platforms. This digital marketplace empowers external platforms to offer their products to our customers, while simultaneously enabling us to expose financial services to broader audiences. The result is a dynamic ecosystem – a digital marketplace tailored to the needs of modern consumers, blending both financial and non-financial services.
Beyond ourselves, we recognise that for all financial services providers, enhancing traditional channels – such as mobile apps, web platforms, and USSD services – will remain essential, but the next frontier lies in meeting customers where they are.
Today’s challenge is persuading users entrenched in familiar ecosystems, such as social media, to engage with new digital platforms. Asking customers to navigate governance, security, and compliance hurdles within traditional ecosystems often results in friction and drop-offs. For the 80 million unbanked adults in sub-Saharan Africa, those craving inclusion in economies and trading ecosystems, it is essential that we reduce these barriers. If we continue to use digital innovation to make account creation, payments, and investments easier, we can reduce poverty, empower our entrepreneurs, and close the economic gaps across the continent.
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