Muhammad Ali Bhikhan, Chief Information Officer, Absa Regional Operations (ARO)

In recent years, the global financial industry has undergone significant change, and today technology is consistently the biggest strategic differentiator. This shift is particularly significant for Absa as we place digital transformation at the forefront of our growth strategy.

In 2023, the Absa Regional Operations (ARO), which operates in nine African markets, focused on achieving gains in three key areas: improved operational efficiency across all channels, enhancing customers’ experience with seamless and intuitive capabilities and increasing our overall competitive advantage. Over 370 solutions were deployed to support these goals, marking a pivotal year in ARO’s technological evolution.

One of the accomplishments was the digitisation of the customer onboarding and account opening process in six markets, leading to a substantial reduction in onboarding time and broadening access to financial services. We also introduced a flexible re-payment feature in our markets, providing customers with short-term payment terms for purchases made with Absa credit cards, offering added flexibility, and putting control in the hands of our customers.

Another milestone was the launch of a digital fund transfer service in several of our markets. This innovative solution allows customers to send and receive funds digitally in near real-time, 24/7/365, across 180 countries and 160 currencies using their Absa Visa, Debit, Credit, or Prepaid cards. This eliminates a layer of added complexity that customers experience when dealing with cross-border transactions. Additionally, our merchant value proposition, revolutionised how businesses and small and medium-sized enterprises (SMEs) conduct transactions in numerous ARO countries. This initiative enables mobile phones to function as card-accepting devices, expanding the scope of convenient payment options.

QR payments were another solution embraced across many of our markets, allowing merchant codes to be scanned via mobile devices for seamless payment transactions. These technological solutions empower our customers to grow their sales with the flexibility and agility needed. They also support the shift to promoting more cashless transactions, in line with our security and modernisation plans.

“Amidst these accomplishments, Absa underscores the pivotal role of innovation, emphasising the importance of embracing technology and seizing the opportunities presented by emerging technology. This is part of the realisation of Absa’s new corporate purpose of ‘Empowering Africa’s tomorrow together, one story at a time,’ using technology to drive meaningful change and growth that benefits our continent”, says Muhammad Ali Bhikhan, Chief Information Officer, Absa Regional Operations.

“As a pan-African financial services company, our focus for the near future is on pivoting our growth in our markets enabled by technology. Our strategic execution and digital-first approach will be driven across the main pillars of our strategy, which include shaping the future with Data and applied AI”, said Bhikhan.

In addition to these notable milestones, the Absa Regional Operations team and markets won multiple awards in 2023 including Best Digital Bank in Seychelles, Mauritius, Uganda, Ghana and Zambia.

On the people behind the technology, Absa Zambia won the Diversity and Inclusion award at the 2023 Tech Trends Awards for the utilisation of technology and innovation to deliver services that propel women in business. “We take pride in being recognised for our commitment to diversity and inclusion—a topic deeply valued at Absa. Inclusion is one of our core values, and we are devoted to empowering women in tech and fostering financial inclusion,” said Bhikhan. At Absa, we are committed to supporting learning and skills development programmes that boost employability and activate talent amongst the youth. This commitment is exemplified by our programmes. Absa Bank Mozambique made pioneering history with the successful graduation of its first IT Academy cohort. This comprehensive 10-month programme provided learners with extensive technology training covering topics such as key IT domains, core banking, helpdesk support, automation, data management systems and network administration to name a few. “This Academy enables us to nurture local talent, ensuring a pipeline of skilled professionals to bridge the gap when it comes to scarce and critical skills. This graduation symbolises an investment in future leaders,” says Bhikhan.

Absa remains steadfast in its dedication to fostering an inclusive and innovative environment. We strive to empower women in technology and contribute to the broader economic advancement of the continent.

“As part of our strategy, people will continue to be a significant focus as we aim to contribute towards sustained economic growth and development in Africa,” concludes Bhikhan. 

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