Finnovex is a series of Summits that examines the Future of Financial Services on how disruptive innovations are reshaping the way they are structured, provisioned and consumed.

Just as the current Digital Era is moving with the speed of light…the Southern Africa Banking and Financial Services Sector has been inclining towards the concept of Superior Customer Experience.

As they say, your Customer now has a choice and prefers that by all means!

The saying – “The Customer is always right” has now become a reality. If they prefer banking digitally rather than the brick and mortar banking structures, banks would have to invest in digital infrastructure which also involves robust cyber security technology.

We are experiencing a current trend that has Customers spending more than saving. Hence, banks are now shifting focus from saving niche areas like payment, lending insurance, and investment services. This current cultural shift in the banking scenario certainly has its own challenges. Southern Africa banks now have to address the issue of data protection, cyber security and bringing more people into the financial system. What does it take to be undefeated this time?