A New Banking Model for Africa: Lessons on Digitization From Four Years of Operations
A guide to support financial institutions embarking on their digital transformation
From 2014 to 2018, IFC and the Mastercard Foundation conducted a longitudinal study with nine partner financial institutions (FIs) in seven Sub-Saharan African countries to understand best practices to scale digital financial services (DFS) and expand financial inclusion.
This study extracts lessons from several interim reports into a singular end report on DFS strategy and implementation, business models and how institutional culture and change management influence organizations undertaking a DFS journey. By analyzing the experiences of these FIs over time, the study yields valuable lessons and benchmarks for the industry and helps to differentiate salient DFS issues faced by FIs versus mobile network operators.
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