BIO did a comprehensive screening of its financial institutions on the strategic priorities and challenges on the level of digitalisation.
Today, financial institutions worldwide need to digitalise in order to stay competitive. How far have they come, and how far are they willing to go?
Those are the questions BIO set out to answer with its comprehensive screening of its financial institutions portfolio in Africa, Asia and Latin America. With the help of PhB Development, BIO collected information on the strategic priorities and challenges of financial institutions and on the level of digitalisation.
The survey covered the digital products and services offered by each institution, the level of digitalisation of internal processes and the technological readiness for digital innovation. It also included digital partnerships (such as with Mobile Network Operators, agent networks, FinTechs and others) and it covered the clients’ attitude towards digital products and services and their uptake.
The first article in BIO’s series on digitalisation reveals how many financial institutions have started introducing digital products and services or digitalising their internal processes. It analyses to what extent the financial institutions are equipped for the digital transformation they have embarked on – both in terms of organizational enablers for digitalisation and in terms of IT readiness.Learn more
The second article in BIO’s series on digitalisation delves deeper into the differences in digitalisation between MFIs on the one hand and commercial banks on the other; as well as into the reasons behind this difference. Ultimately, digitalisation seems a game of scale…