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Mobile Emerges as the Front Door to African Finance
Mobile banking has firmly moved from the sidelines to centre stage. It has become the primary channel through which millions of Africans interact with their financial institutions. What began as a race for digital adoption has now evolved into a high-stakes era. An era defined by intelligence, inclusion, and intensifying competition among banks, telecom operators, and fintechs.
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These insights are at the heart of the fourth edition of the Africa Digital Banking Experience Series. Titled “Mobile Banking: Intelligence, Inclusion, and New Competitive Realities”, it is published by AI-powered banking platform Backbase in partnership with African Banker magazine.
Landmark Study Across 40 African Countries
Based on a survey of 203 senior banking executives across 40 African countries, the report provides a roadmap for an industry in which mobile devices now account for at least 75% of all online traffic. The findings underscore how mobile has become the definitive interface for banking services across the continent.
From Digital Access to Intelligent Banking
The report highlights a major paradigm shift in how African banks approach digital banking. Earlier editions focused on onboarding customers to digital channels. But the 2025 findings reveal that 54.8% of banks now report that more than 40% of their customers are digitally active.
The next phase of African banking, however, is no longer about access alone—it is about intelligence. Banks are transforming their mobile apps into full-service financial hubs. They are integrating features such as multi-currency wallets, automated loan applications, and micro-insurance offerings. This marks a move away from basic transaction tools toward proactive, data-driven financial ecosystems.
The African Triple Threat: Key Barriers to Growth
Despite rapid progress, the report identifies persistent structural challenges that continue to shape Africa’s digital banking landscape:
- The Connectivity Gap:
65.6% of executives cite unstable network coverage and high data costs as the biggest barriers to wider mobile banking adoption. - The Security Trust Gap:
50% of banks point to malware attacks and SIM-swap fraud as key reasons customers hesitate to fully embrace mobile platforms. - Infrastructure and Skills Deficit:
Limited access to reliable electricity and low levels of digital literacy—particularly in rural areas—remain major constraints to inclusive expansion.
Executive Insight: The Rise of the “Intelligent-Everywhere” Bank
Commenting on the findings, Heidi Custers, Global Strategy & Transformation Director at Backbase, said the industry has reached a defining moment.
“The era of the ‘digital-only’ bank is over. We have entered the era of the ‘intelligent-everywhere’ bank.”
She noted that the next decade of African finance will not be shaped by the number of physical branches. It will be shaped by the ability to turn mobile data into proactive financial empowerment.
“Banks must pivot from being reactive utility providers to becoming indispensable partners in their customers’ daily lives. If you aren’t using the mobile handset to anticipate a customer’s needs before they even open the app, you’re not just falling behind—you’re becoming irrelevant.”
