Africa’s retail banking industry is growing at a rapid pace with technology being the key to access customer segments that were once too costly and difficult to serve. These developments require a stronger infrastructure in order for the industry to be sustainable over the long run.

The less noticed bottom part of the pyramid, where banking penetration varies significantly from one country to another are some of the complex challenges that Africa’s retail banks faces along with the cost of maintaining extensive branch networks. With technological solutions gaining prevalence to bring down the barriers to market, banks must focus on a customer-oriented culture and push the envelope of innovation in customer service. While banks seek to boost their market presence in the unbanked regions of Africa, they will need to leverage on the right solutions to address current trends in the market.

Africa is rising and is becoming the new banking destination, with a return on equity of 20-30%—roughly double that of banks in developed markets. Technology and innovation in banking models are on the rise from mobile banking to microfinance.

In today’s dynamic business world, the pace of change is beyond one’s imagination. Building a service oriented bank, working on a virtual environment is a dream of all banking organizations, but is achieved only by a few. The banking world is going digital - it is important to outline the digitally reformed bank which amalgamates the physical, virtual, social and human aspects of the bank in one.

There’s a growing emphasis on agent banking to provide financial services to customers. The huge potentials of the agent banking have significantly increased the access to a range of financial services, savings, payments, transfers and insurance for the unbanked and under-banked population. Agent banking has an important role to play in reaching the unbanked and under-banked by bringing financial services closer to the customer.

Recognizing the pressing need for re-strategising retail operations in order to transform the experience of customers, the 7th Annual Retail Banking Conference 2015, will be held from 9 - 11 September, at Birchwood Hotel and OR Tambo Conference Centre, Johannesburg - South Africa.
This forum will comprise of two day conference, platforming industry exponents to brainstorm and share through and a third day dedicated to post conference workshops focusing on delivering world class user experience through digitalization and intensifying financial inclusion through an agent banking network.