the Kasisto option because it was a good fit for what we needed . It is already live in all our markets and will soon have transactional capabilities – you can tell it to make a payment and the bot will identify / verify you and complete the transaction .”

Another huge step towards becoming a truly digital bank located in the cloud is happening right now at Absa with the rollout of wallet banking , scheduled to launch in some markets from August . Digital wallets or mobile wallets have been a major disruptor in the payment space between traditional financial services providers and disruptors . “ They give consumers a fast , secure , low-cost method to use , store and send money over the internet ,” says Kumar . “ Our wallet program envisages a banking app that allows customers to open an account , apply for lending , create savings products , pay a bill , and purchase airtime amongst other things – all from their mobile . I am very excited about this

EXECUTIVE PROFILE :

149 Title : Chief Executive : Retail & Business Banking , Customer Experience and Digital Industry : Finance Services Location : South Africa

Vimal Kumar is the Chief Executive of Retail and Business Banking , Digital and Customer Experience for the Absa Regional Operations , at Absa Group Limited , overseeing the RBB franchises across nine markets : Zambia , Botswana , Ghana , Kenya , Uganda , Mozambique , Tanzania , Mauritius and the Seychelles . He joined the group as the Head of Lending in 2011 , based in its offices in Dubai where he provided strategic leadership direction . He has over 25 years of experience in Retail and Business Banking , including credit cards , consumer loans , retail liabilities and wealth management , having worked in Asia , the Middle East and Africa . fintechmagazine . com