Angola on the path to good banking practices – news

Event on “Digital Solutions for Banking” serves as an ideal platform to clarify the future of the sector, as we are living in times of transition and banking has increased responsibilities

The president of the executive committee of Digital Banking Solutions Angola (DBS), Nuno Fernandes, told the press that Angola is well on its way in terms of good banking practices and that it should continue to follow this path. Speaking on the sidelines of the “Digital Solutions for Banking” event, the person responsible said that digital solutions are an advancement, as they allow banks to interact with customers in a different way, which ends up bringing innovation and changing the way banks look at customers.

Nuno Fernandes spoke about the many frauds that have occurred, highlighting that this issue is relevant, which is why he calls for the need to create platforms that can respond to the issue of security. To achieve this, he highlighted, there is an urgent need to increase financial literacy rates, as the more one knows about banking issues and other related matters, the less exposed the risk of fraud becomes.

In turn, Vasco Oliveira, also from DBS, explained that the future of banking is now because it is in the transition phase, since these financial institutions and banks can position themselves at the forefront of this transition. Vasco Oliveira drew attention to the need to create conditions to respond to the demands of new times, since, from his perspective, Angola has to prepare not only in the technological area, but also in the field of legislation and operating standards.

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Digitization

Speaking about digitalization, Vasco Oliveira said that there are services that have already moved into this field, but the process itself is global, which affects the entire ecosystem, but in practice, he explained, Angola is already taking this path. At the event, various subjects were presented and discussed, with emphasis on issues linked to trends in the financial sector, as well as the best strategies for implementing these new solutions in our country. In the approaches, open banking also stood out, which, in the view of the various participants, should be seen as another opportunity for players in the sector, who for now seem a little disconnected from the potential gains that this mechanism can provide.

BY: Ladislau Francisco

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