5 ways African banks are rewriting the rules of digital banking

At nCino, we've witnessed how Africa's banking sector is evolving at pace. Working with the likes of Absa Bank, African Bank, and Capitec Bank, we're seeing leading financial institutions across the continent build future-ready banking solutions that keep humans in the loop. So, we got together at PwC to discuss the future of banking in Africa, discussing transformation through various lenses, including business value creation, customer experience, operations, regulation, and security. Here are five key takeaways from the discussion: 

1. The rules of banking are being rewritten With 21 million digitally active users in South Africa alone, and exponential growth across Africa, it’s clear the market is demanding a completely different approach to financial service provision. Customers are engaging across multiple channels and expecting the same experience they get from other sectors. The old multi-day loan approval processes, manual document handling, and siloed systems simply cannot compete. No wonder 86% of organisations say that AI will become mainstream technology in the near future. But rewriting the rules doesn't mean removing humans from the equation. Far from it. Indeed, at nCino’s recent EMEA Summit, our Chief Industry Innovation Officer, Anthony Morris, challenged the assumption that AI adoption itself is the goal. Suggesting instead that unchecked enthusiasm can actually be a costly mistake and obscure the path to real value. This is particularly true of African banks serving a broad customer demographic, and tackling challenges including heightened regulation, ESG and improving inclusion requirements. PwC predicts that by 2030, leading African banks will have moved from transaction to life partnerships, using AI alongside local knowledge to anticipate milestones before customers speak, and deliver both rural and urban communities across the continent with the same level of personalised support. To achieve this, they must eliminate repetitive, time-consuming tasks and instead free relationship managers to focus on what they do best: building trust, navigating complex situations, and making nuanced decisions that require human judgment.   

2. Financial institutions must focus on value that matters African banks must ask themselves: what value are we creating for our customers, our staff, and our business? But let’s be clear, more capability doesn't equal more value. As discussed during the webinar, transformation isn’t about systems; it starts with people and ends with outcomes. Banks must focus where it matters most. Impact is not about more products everywhere; it’s about the right products, the right channels, and the right reasons. This means starting with a comprehensive audit, mapping experiences across customer segments and determining where real value can be delivered. It’s vital, of course, that the impact of transformation is measurable. The discussion pinpointed three strategic value drivers banks must adapt if they are to stay ahead of the competition, strengthen customer loyalty, and drive profitability: 

1. Growth: both revenue and new customer acquisition 

2. Productivity: measured in terms of operational and resource efficiency and cost reduction 

3. Risk and compliance: improving risk outcomes and building resilience 

Without this clarity, banks are investing in transformation without understanding if it's working for them, their people, and their customers.  

3. Experience is where trust and growth are built Trust isn't built through technology alone.  Instead, it's built through experiences that create trust and that serve people as communities, not just users. This is where the human element becomes non-negotiable. Banks must go beyond traditional multi-channel and even omni-channel experiences and instead embrace what we like to term "opti-channel" banking. An approach which intelligently nudges customers toward the right channel for each specific interaction. For example, simple balance inquiries can happen through conversational AI, whilst more complex lending discussions might begin digitally but seamlessly transition to human relationship managers when needed. PwC’s African banking research highlights that 76% of companies prefer utilising different channels for different business contexts. Furthermore, this can help to drive a 52.9% aggregate customer-to-income ratio To achieve this, intelligence must flow from everywhere, not in silos. Experience isn't about adding features; it's about connecting intelligence across every channel to create seamless moments that matter. Humans and machines working in perfect unison to drive better outcomes. PwC suggests that by 2025, this could result in finance being woven invisibly into daily life in Africa, guided by AI and tailored on decades of cultural and environmental wisdom. 

4. Technology must adapt, not anchor There is a huge opportunity for African banks to build architectures that are inherently flexible, cloud-native, and designed for continuous evolution, rather than anchoring them. Leading banks are embracing platforms that embody this, with architecture that’s flexible and open, allowing them to integrate solutions seamlessly, plug in third-party data sources, and layer on new capabilities without disrupting existing operations. This matters because the pace of change demands it. Technology must keep up with the cadence of customer needs and market shifts; if it can’t, then it will simply become an anchor that drags down competitiveness and profitability. Take, for example, continuous credit monitoring. Rather than waiting for annual or quarterly reviews, relationship managers need real-time early warning signals about portfolio risk so that they can proactively intervene. Technology adapting to support human judgment, not overriding it.  

5. Momentum is the new strategy Perhaps the most dangerous risk for African banks today is the risk of doing nothing. We meet institutions that know they need to modernise but struggle to start, overwhelmed by perceived complexity or risk. Meanwhile, their competitors gain ground.  The risk of inaction is real and measurable: digitally enabled peers processing loans 10x faster, total cost of ownership ballooning across fragmented systems, falling out of step with expectations because of no single unified customer view, and high levels of talent churn. Transformation is not a binary choice between maintaining legacy or embracing the latest advances in technology and AI. Momentum is the new strategy. Banks can maintain critical infrastructure whilst iteratively layering on top new digital experiences.  

The key is maintaining forward motion as needs evolve. 

So, what next? 

The future of African banking isn't about choosing between human insight and digital capability; it's about mastering both in perfect unison. 

The financial institutions that will lead in 2030, and beyond, are those that act now to build future-ready banking solutions. 

Watch the full recording of the webinar and dive deeper into each of these issues and the importance of adopting cloud-based technologies for new era success. 

Ready to explore what’s possible?  Request a demo to see our best-in-class intelligent banking solutions in action.