Traditional banks and FinTech companies have come a long way since the COVID-19 outbreak. Before, banks may have looked at FinTech companies with suspicion, however, the viewpoint of traditional financial service providers seem to be progressing. Financial service companies no longer look at FinTech’s as seditious, but instead as valuable partners for the growth of digital banking in Africa.

Previously banks and FinTech’s operated separately, and as markets evolve, it’s important to bridge the gap between the financial services and technology sectors with an integrated system that responds to clients’ needs in a short period of time and in a far more seamless and accessible way.

This is an opportune time for banks and FinTechs to proactively propose solutions to the government, Muzi Nkosi says.

Transactional banking in Africa

By continually investing in state-of-the-art infrastructure and business technology, at RMB, we’re able to tailor-make solutions ranging from managing salary payments and complex payments to corporate card solutions. These, enabling clients to manage their day-to-day payments, process transactions and information services digitally and more efficiently.