ABSA REGIONAL OPERATIONS
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“ Instead of the slow march to digital transformation in the payment space , we are going to see many years of change condensed into a few months ”
— Vimal Kumar , Chief Executive : Retail & Business Banking , Customer Experience and Digital – Absa Regional Operations
While being realistic about the difficulties ahead , Kumar thinks the benefits of the Big Data and analytics journey the bank embarked on following the commencement of its separation from Barclays PLC in 2017 and it ’ s rebranding in 2020 , stands it in good stead . “ As we come out into a new world post-pandemic , we are going to have to accept fundamental shifts in consumer behaviour . From my retail and business banking perspective , I can see a number of positives . Firstly , massive uptake on alternative channels like e-wallet , e-commerce , contactless and conversational AI . Secondly , instead of the slow march to digital transformation in the payment space , we are going to see many years of change condensed into a few months . Thirdly , our employees must become mentally aligned to operate cohesively in a remote and alternative working environment ; most if not all organisations in the future will need to find alternative solutions to accommodate their workforce other than physical environments for the next few years . Fourthly , and central to future success is the need for leaner , scalable , low-cost-to-serve business models .”
Absa Group ’ s new brand has been inspired by the African continent and its people , and the desire to unite under a single purpose – to bring possibility to life . The group ’ s shared-value approach reflects its ambition to become a purpose-driven financial services organisation creating substantial social impact through core business functions , while also delivering shareholder value .
AUGUST 2020