Nedbank’s Digital Transformation
Nedbank is strategically orienting itself to deliver the Group’s aspirations to be ‘Africa’s #1 Digital Financial Services Provider’.
In this 12-part series we will share insights into Nedbank’s innovative digital transformation journey starting with an overview of Nedbank Group’s technology strategy.
Nedbank’s technology strategy is centred around delivering client experiences that make clients’ financial dreams come true and is anchored around three pillars:
Rapid advances in technology are transforming everything banks do. We operate in an omni-channel, multi-touchpoint, always-on, hyper competitive operating environment, all while our services are increasingly being commoditised with both technology giants and new market entrants redefining clients’ expectations.
Nedbank is a world-class financial services company that understands the challenges our clients, both individual and juristic, face in a digitally empowered world. In order to meet these challenges:
- Nedbank runs a transformative centralised technology unit with responsibility for all components of the Group’s Information Technology (IT) infrastructure and systems providing economies of scale while facilitating a cohesive group wide technology strategy
- This function provides information technology, operational and administrative processing services innovatively to the wider group, its brands and interests throughout Africa
- The function’s mandate is to future proof Nedbank’s IT ecosystem including all systems, databases, technology infrastructure, software development, IT projects / programme management and IT Strategy on behalf of the Group
- Nedbank’s best in peer group share price performance in 2018 is confirmation of the IT evolution strategy underpinning Nedbank’s outperformance and investment case attractiveness
Nedbank’s ‘true north’ is simply to provide clients with what they want, when they want it…DIGITALLY.
Technology is enabling us to overcome previous limitations and become a more client-focused, digital, agile and competitive bank. I believe that relevant client experiences in the clients’ moment of truth is what the 4th Industrial Revolution requires of us to be Africa’s #1 Digital Financial Services Provider. Nedbank’s strategy to Digitise, Delight and Disrupt the financial services industry through rapid innovation is intended to attract clients, retain clients and generate outstanding shareholder value. Look out for how our innovative digital transformation initiatives are adding value to the lives of clients.
See highlights of Nedbank Group 2018 Integrated Report on (https://youtu.be/vn2klL3lBGQ).
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