INDUSTRY WATCH
of the day will meet their needs and
will provide exactly what they require.
Whether it means doing it directly or
partnering with other firms becomes
almost irrelevant to the customer,
because the bank becomes the single
trusted entity. The bank continues to
own and maintain the relationship and
to provide the customer what is best
suited for their needs.”
Across most of North Africa, banks
cannot afford to address large
populations of underbanked and
unbanked potential customers by
continuously expanding the number
of branch offices. They have to look at
telecom service providers and other
Fintech partners as a means of lowering
the cost base to address this large
untapped population. The biggest
competition for banks is the cash
transactions that they do not manage
from underbanked and unbanked
populations, which are completed
outside their banking systems. The
best way for banks in North Africa to
bring those cash transactions from
underbanked and unbanked populations
into their financial systems is through
partnering with those entities that do
manage those cash transactions.
www.intelligentcio.com
Lutfi Zakhour, Senior Vice President at Booz Allen Hamilton MENA.
• You really have to think about the customer and their everyday life
• How can you offer solutions that will not greatly disrupt their way
of life
• You need to look at different partners that already interact and
interface with customers
• Each one involved in the partnership knows what value proposition
they bring to the customer
• They can offer it on a joint basis without having the customer change
their way of life
INTELLIGENTCIO
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