Cloud-based solutions could reduce banking costs in Africa

Project name:
Opportunity for cloud banking in Africa

Financial sector strategy
Financial inclusion
Digital financial services
Financial market policy

Financial services strategy

Area of Expertise:
Tech governance and competition

The Bill & Melinda Gates Foundation

2019 - 2020


Genesis Analytics and Orange Business Services (OBS), with the support of the Bill and Melinda Gates Foundation, published a research report on Cloud Banking in Africa: The Regulatory Opportunity, which explores the potential for cloud computing to reduce the cost of technology for banks.

Traditional providers of banking services in Africa face unprecedented challenges in the digital era, principally from the expanding payment and financial service operations of mobile network operators. At a time when central banks across the world have committed to improving financial inclusion, the cost of the technology stack that banks operate and manage is a major impediment to reducing the cost of financial services.

Our research investigated how migrating some elements of the “technology stack”, and how it is supported by cloud technology, can significantly reduce the cost of IT infrastructure while allowing banks to take advantage of improved product development cycles, the most advanced security protocols and customer data analytics. This involved conducting a cost-benefit analysis on the different cloud service (software-as-a-service, infrastructure-as-a-service, platform-as-a-service) and deployment (private, public and hybrid) models.

The report explores the banking landscape in Africa, introduces key concepts on cloud banking technology, and discusses the role that regulatory frameworks (across different African countries) play in either supporting or discouraging adoption of this technology. Roadshows were conducted with stakeholders and regulators in several African countries to obtain regulators’ views on cloud banking.

Cloud-based solutions can reduce banking costs in Africa significantly


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