Unlocking Africa’s Banking potential

In the rapidly evolving digital economy, African banks face the challenge of modernising legacy systems to stay competitive. Our report provides valuable insights into the strategic execution required for successful transformation.

Strategic execution and stakeholder alignment

Modernising core banking systems is not just about technology; it's a strategic journey that requires disciplined execution. For banks to succeed, alignment among shareholders, boards, executives, and delivery teams is crucial. Trust and clear communication are the cornerstones of effective execution.

Embracing agility with structure

Agility is essential in the modernisation process, but it must be balanced with structure. Banks need to implement agile methodologies while maintaining clear mandates and measurable outcomes. This approach ensures that transformation efforts remain focused and adaptive to changing business needs.

Navigating risks and challenges

Core modernisation projects come with inherent risks, including leadership turnover, data migration challenges, and a critical skills gap. Deloitte Africa's insights highlight strategies to mitigate these risks and ensure continuity throughout the transformation journey.

Beyond financial metrics: Realising broader benefits

While financial metrics are important, the true value of modernisation lies in enhanced customer experience, streamlined processes, and new product capabilities. Banks must track employee productivity, operational agility and system maturity to gauge the success of their transformation efforts.

Core banking modernisation is a multi-year journey that can redefine a bank's competitive advantage. For African banks looking to lead, now is the time to embed agility, align stakeholders, and measure what matters