Cloud Services supports financial services’ digitalization in Africa
Cloud Services has entered into cooperation with the Bank of Africa Group. It will result in an innovative marketplace platform combined with credit services run by the bank's stores and regional branches in 18 African countries.
The marketplace is part of financial services’ dynamic development trend on the African continent that is strongly based on electronic banking and mobile services.
Cloud Services and Bank of Africa are creating a marketplace embedding credit services fully integrated with the bank's platform. It will enable customers to select a specific product (e.g. from the household appliances and consumer electronics section), pay for the purchase using a consumer credit, and then collect the product from the store.
Cloud Services is responsible for the implementation and maintenance of the shopping and financial systems. Tools and procedures were prepared to ensure the functionality and security of the newly created platform, including the integration of the service with the banking system and SMS/email dispatch systems, document workflow, and administrative mechanisms such as uploading pre-scoring files (credit amounts available for individual customers), uploading products, managing stock levels at stores, managing the process, messages, and content.
The residents of Madagascar will be the first ones to buy on the platform. Then, the marketplace will expand into the other 17 countries where Bank of Africa has branches in.
- African countries have been experiencing a very dynamic development of the banking sector for several years. What is more, the market is less interested in traditional banking but electronic and mobile services are well-accepted here. For a significant part of the population, smartphones are the basic tool used for managing financial services. We hope that our experience in introducing modern solutions in the banking sector will allow us to create an innovative and functional product that will be successful in all the countries where we plan to implement it - says Katarzyna Guerrero International Business Development Manager from Cloud Services.
Bank of Africa Group is a multinational pan-African banking conglomerate carrying out operations in 18 countries on the continent. Its position as a market leader is strengthened by the development of digital services. Bank of Africa Group has been working with Cloud Services since 2020 and the currently implemented marketplace is the cooperation's first result.
Cloud Services launches modern IT solutions onto the market in order to increase the sales processes’ reach and efficiency.
About BANK OF AFRICA Group
BANK OF AFRICA Group is presently established in 18 countries, 8 of which are in West Africa (Benin, Burkina Faso, Ghana, Ivory Coast, Mali, Niger, Togo and Senegal), 8 in East Africa and the Indian Ocean region (Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Rwanda, Tanzania and Uganda) as well as in the Democratic Republic of Congo and in France.
BANK OF AFRICA Group has its majority shareholding held by BMCE Bank the third bank in Morocco. It provides solid strategic and operational support to BANK OF AFRICA Group, as well as direct access to international markets thanks to its presence in Europe, Asia and North America.
Established over 35 years ago, BOA Group presently has 6,000 employees and a consolidated balance sheet of €8.7 billion and consolidated net profit of €102.7 million as at December 31st, 2020, with €65.7 million Group profit.