The Value of Modernising Legacy Systems in the Financial Services Industry at Digital Finance Africa

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The financial sector is at a crossroad, where legacy infrastructure meets disruptive transformation, this according to Nkosi Kumalo, Managing Executive of BCX’s digital arm, Exa.

Kumalo will be at the Digital Finance Africa virtual conference, hosted by IT News Africa and sponsored by BCX, on 31 August 2021.

He will join over 20 visionary speakers and more than 300 finance, and technology leaders to discuss digital transformation in financial services.  The Digital Finance Africa platform seeks to bring together African financial service leaders and technology players to discuss key factors that the industry must keep on the front-burner as they embark on the digitalisation journey.

The event will also delve into how financial institutions can harness new technologies such as AI, IoT, Big Data, Blockchain, and Cloud Computing, to compete with challenger banks in order to serve their customers better, improve efficiency and increase profitability – despite the current crises.

According to Kumalo: “The financial sector has been pressured bws

y digital and disruptive change for years, few emerging as diamonds from the rough. Many are struggling to find a foothold in a world that’s refined and redefined by customer whim and demand. They are pushed to find smart and inventive ways to modernise legacy IT architecture, even areas that were previously considered inviolable.”

“From risk, finance, and compliance to accessibility and simplicity, financial service providers need to modernise systems or lose ground to the fresh new faces that are taking the lead. Modernisation is all about taking legacy applications and optimising them to fit with what users want,” adds Kumalo.

In his presentation, Kumalo will further unpack why modernising infrastructure is essential to competitive growth and opportunity. “The financial sector is on the cusp of a new world of work, so it’s time to leverage machine learning, data science and analytics, and to build the apps that help you to capture these opportunities.”

Leading provider of end-to-end solutions, BCX, is the webinar sponsor of the event where Nkosi Kumalo will speak between 12h45 – 13h15 on the day.

Discover how your financial services organisation can thrive as we emerge from the pandemic – register now.


By Staff Writer.

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