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Thursday, April 18, 2024

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Cloud Services supports financial services’ digitalization in Africa

Polish company 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 company was supported by the Polish Investment and Trade Agency.

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. The Foreign Trade Office of the Polish Investment and Trade Agency in Casablanca supported the company in the field of translations during a conference with BOA and provided support before the visit to Casablanca by advising on the market characteristics and business culture.

Cloud Services launches modern IT solutions onto the market in order to increase the sales processes’ reach and efficiency.

Source: https://www.paih.gov.pl/en

Sylwia Ziemacka
Sylwia Ziemacka
“I believe our unique selling point is that we focus on what brings us together. Poland Weekly offers something you will not find anywhere else: a truly international and unifying perspective focused on content that builds cooperation and mutual understanding. This attitude doesn't make us naïve, but it allows us to focus on mutual understanding and a search for solutions. There are so many new challenges that we are all facing, such as energy transformation, climate change and supply chain disruption, to name but a few. By working together and sharing good practices, we can achieve so much more.”
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