AfE 2024
Nedbank wins the best digital bank in Africa award for the second year in a row, courtesy of its push to reform and re-engineer its IT system, with the aim of cutting costs, attracting new business and favouring an approach that focuses on evolution rather than revolution.
The South Africa-based lender’s plan has long been to eschew a big-bang approach to designing and redeploying its digital stack. Instead, it chose to pursue managed evolution, enabling it to roll out digital services as they come on stream.
Nedbank reckons its programme was 95% complete at the end of 2023 and aims for full integration by the end of this year. This has enabled it to cut its roster of large systems to 69 from 250 – with a plan to reduce the final number to as few as 60.