IBM is working with more than six banks on the continent-spanning from Nigeria to Mozambique
Tech giant IBM has recently made an announcement that it has won the hybrid cloud deal with one of the biggest banks in Africa. This also includes Attijariwafa Bank from Morocco and Nedbank from South Africa. The main motto of the deal is to pivot the banks to use the internet to store large amounts of data. As of now, IBM is working with more than six banks on the continent-spanning from Nigeria to Mozambique. The deal will make sure that the company’s data will be stored internally in a private cloud and public clouds.
Hillery Hunter, VP of IBM cloud, has stated that the technologies used by banks working with them in Africa are a part of the company’s hybrid cloud technology, and during the pandemic, the companies wanted to improve and open more mobile and digital banking because there were just a few retail locations. The landscape of financial services has become more competitive in Africa, with many MNCs and banks entering the segment. Business leaders in Africa are contending with other big names in the segment, which offer services that allow people to transfer cash from the simplest of phones. Mobile network companies have also joined the race by making the shift to digital.