Driving Digital Transformation Across 12 African Markets
Absa CIO Muhammad Ali Bhikhan on Absa's Tech-Forward Strategy
Financial organizations across Africa are embracing technology in bold new ways to transform how they serve customers and run their operations. As the digital revolution sweeps across the continent, banks are finding innovative solutions to make banking more accessible and efficient for millions of Africans.
In an interview with Information Security Media Group, Muhammad Ali Bhikhan, CIO of Absa's regional operations, shared how the group is redefining banking across Africa using digital innovation, cloud adoption and AI-powered cybersecurity while addressing regulatory and infrastructural challenges.
With more than two decades of experience in the technology sector, Bhikhan has spent most of his career in shaping Absa's digital landscape.
Edited excerpts follow:
What distinguishes Absa and its business operations?
Absa Group Limited offers services from retail and business banking to wealth management and corporate investment solutions, serving customers across Africa. We aim to create shared value sustainably and be part of our customers' journeys, empowering them to achieve more and encouraging recommendations from family, friends and associates. Listed on the Johannesburg Stock Exchange, Absa is among Africa's largest financial services groups, operating in 12 African countries and beyond.
Our deep roots in Africa fuel our commitment to empowering the continent, embodied by our purpose: "Empowering Africa's tomorrow together, one story at a time." This aligns with our brand positioning, "Your story matters," which reinforces our dedication to placing customers and their narratives at the heart of our operations.
What recent digital innovations have improved customer engagement and operational efficiency? What challenges did you encounter during implementation?
Responding to market demands for smoother digital experiences, we launched a digital onboarding program to streamline account opening. AI-driven chatbots provide 24/7 support, allowing us to enhance engagement by addressing routine inquiries instantly. This automation frees up our team to focus on complex issues, driving efficiency gains.
Integrating the AI system with existing infrastructure posed challenges in safeguarding data security while maintaining a personalized experience. The onboarding process needed to be refined for adoption by our teams, balancing automation with human touch.
How does Absa's IT architecture handle varying infrastructures and cyber risks across countries?
Absa follows architectural principles to manage operations, risks and controls across markets. While standardization is a priority, we recognize the regulatory, technological and business landscapes of each country we operate in. Our adaptable architecture enables scalability and agility for responding to cyberthreats.
Our technology strategy accounts for local factors such as partnerships with vendors and service providers. This flexibility lets us tailor our approach to meet country needs while aligning with groupwide practices to future-proof our technology landscape.
How has cloud adoption enhanced your operations, and how do you manage local data regulations?
Absa's commitment to cloud adoption aims for consistency and standardization across regional operations, taking into account regulatory requirements unique to each country. Balancing cloud benefits with local data regulations requires a tailored approach. Our hybrid model allows sensitive data to remain in-country where needed while using cloud capabilities for other operations, ensuring regulatory compliance and solutions.
Cloud adoption isn't merely a technology shift; it's a strategic move that enhances operational efficiency and drives value for our stakeholders.
How has your IT strategy helped outpace fintech competitors in specific markets?
Our Mobi Tap solution is an example of innovation. This payment platform allows small and medium-sized businesses to accept payments via NFC-enabled smartphones, eliminating the need for traditional point-of-sale terminals. Deployed in markets such as Botswana, Kenya and Ghana, Mobi Tap accelerates transaction processes, offering customers faster payment options.
By enabling financial inclusion and advancing digital economies, Mobi Tap positions Absa ahead of competitors in regions where accessibility and flexibility in payment solutions are crucial.
How do you use AI and machine learning to strengthen cybersecurity? What successes have you seen?
Absa employs AI-driven predictive modelling and data analysis to bolster our cybersecurity posture. Our security platform combines technologies to analyze threat intelligence from global and internal sources, allowing us to identify threats and mitigate them proactively. This investment in AI and machine learning helps us stay ahead of cybercrime and strengthens our defense capabilities across the continent.
How do you connect legacy systems with new technologies across regional operations?
Legacy systems, if not modernized, can create challenges, including instability, security vulnerabilities and maintenance costs. At Absa, we address these through API-first integration, connecting legacy systems to new technologies to support operations and innovation. By creating reusable interfaces, we can integrate legacy systems with emerging technology, minimizing technical debt and optimizing customer experiences.
What are your top priorities for 2025?
At Absa, our priorities include:
- Transforming technology landscape: We are pursuing digital transformation to enhance experiences for customers and colleagues. Modernizing our systems is essential for delivering solutions quickly.
- Data-driven insights and AI: Using data and AI to drive efficiencies and create personalized customer interactions.
- Advancing cloud adoption: Expanding our cloud infrastructure to support solutions, meeting evolving customer needs.
- Empowering women in tech: We remain committed to diversity, supporting initiatives for women in technology and fostering an inclusive workforce.
- Strategic partnerships: Collaborations with industry players will help us expand technological capabilities and stimulate innovation.
- Investing in talent: Developing our workforce through training, mentorship and career advancement ensures we are equipped with the skills needed to meet our objectives.
Through these initiatives, we aim to solidify Absa's position as an innovative financial leader across Africa.
