Innovation has opened financial avenues to the unbanked in South Africa, with Nedbank having committed itself to deliver products and services that add value to those living in the township economy. From its lending products to contactless-payment methods, Nedbank has unlocked the door to financial services for those most in need of them.
Financial-technology and financial-services firms are transitioning from competitors to partners, exploiting the advantages and resources that each offers—with fintechs bringing technological proficiency and agility and banks providing large and loyal customer bases. Four recent partnerships confirm just how rewarding these unions can be.
The Digital Imperative for Banking in the New Normal By Ciko Thomas, Group Managing Executive, Retail & Business Banking (RBB)
Nedbank is ingeniously employing existing and new digital solutions to meet the needs of customers during the COVID-19 crisis.
A persistent problem in Africa is the financial-inclusion deficit. With 11 million citizens in South Africa alone being either underbanked or unbanked, the need to gather them into the banking fold is urgent. Recognizing this imperative, innovative teams such as Nedbank’s Retail and Business Banking have prioritised customer-centric digital avenues to reach more customers, entrenching themselves as the money experts who do good and give clients back the gift of time.
Interview with Mr. Ciko Thomas, Group Managing Executive, Retail & Business Banking; Mr. Mike Brown, Group Chief Executive; and Mr. Mfundo Nkuhlu, Chief Operating Officer of Nedbank
Nedbank is among South Africa’s top four banks, offering a range of wholesale and retail banking services to an equally varied clientele. In our interview, three of its top executives, Ciko Thomas, Mike Brown and Mfundo Nkuhlu, discuss a bank that aims to use its financial expertise “to do good for individuals, families, businesses and society”.
Simon Hughes of International Banker interviews Mr. Mike Brown, Group Chief Executive Officer of Nedbank on the recent political turbulence in South Africa, the challenges facing the bank and Nedbank’s future plans.