Global roadshow alerts African banks to risks, potentials

African banksby MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – A DECADE after the global economic meltdown, the banking sector is under immense pressure to adhere to constantly changing regulations, mordenise systems and remain competitive in line with technological advancements.

The drastic technology-led changes, while transforming the industry, require the industry be innovative on risk assessments.

It is against the backdrop of these developments that one of the world’s leading technology partners to banks, SAS, is conducting a series of global roadshows to keep the financial firms with prevailing trends.

“The purpose of these roadshows is to share with the banks the main challenges we see in the market and share with them what they can do,” Anselmo Marmonti, SAS Senior Director of Risk Practice: South

Europe, Middle East and Africa (EMEA), said in an interview at the Johannesburg leg of the global SAS Risk and Finance Analytics Roadshow.

“This is very crucial from our perspective because as a technological partner of many banking institutions worldwide, we see that in many cases, the banks are not aware of the possibilities of what they can do and manage such evolutions and such big transformation and innovations,” Marmonti added.

He added, “As such, the purpose of the roadshows is to share with the banks the best practices and how we can help them achieve their goals in terms of profitability, reduction of costs and strategic decisions.”

“This is very crucial from our perspective because as a technological partner of many banking institutions worldwide, we see that in many cases, the banks are not aware of the possibilities of what they can do and manage such evolutions and such big transformation and innovations,” Marmonti  said.

Apart from the continent’s most advanced and second-biggest economy, South Africa, the SAS Risk and Finance Analytics Roadshow have been held in Nigeria (in the commercial capital, Lagos), Africa’s wealthiest economy by gross domestic product (GDP).

“We see different levels of maturity in the continent. There are banks quite advanced and others approaching the new regulation. From our perspective, what we see is that we have answers for both the more advanced and less advanced banks,” Marmonti said.
– CAJ News

Short URL: http://cajnewsafrica.com/?p=26447

Posted by on May 18 2018. Filed under Africa & World, Broadband, Featured, Finance, National, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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