Tag: ABSA Corporate and Investment Banking (CIB)

For more than half of all South Africans, Small and Medium Enterprises (SMEs) are the reason they are currently employed. This vast network of entrepreneurs, representing 98.5% of South Africa’s commercial enterprises, contribute 40% of the country’s Gross Domestic Product (GDP).

Clients today recognise that while convenience is easily replicable, delivering exceptional Customer eXperience (CX) through a genuine understanding of their unique business needs is irreplaceable. Client interaction and project management strategies are shifting dramatically toward hyper-personalisation, and businesses in the B2B space risk consistently falling short of meeting client expectations and client experiences, if they do not empower their teams effectively.

Before we can unpack the operating challenges and opportunities in transactional banking, we need to emphasise this point. The global economy has faced a re-set of sorts as inflation has spiked higher and global interest rates have risen from historical lows. It is certainly not ‘business as usual’ in the world of financial services and banking.

Innovative solutions such as active network sharing, tax incentives and new technology deployment can be the solution to achieving feasible rural connectivity in South Africa. Ordinarily, rolling out telecommunications network infrastructure is an expensive and arduous undertaking for both fixed and mobile phone companies.