African Banks Underutilize Existing Payment Systems, Says BPC Client Conference
African banks can accelerate innovation by extracting more value from existing payment systems rather than costly replacements, highlighted at the 2026 BPC Client Conference in Cape Town.
In Brief
- •African banks can accelerate innovation by extracting more value from existing payment systems rather than costly replacements, highlighted at the 2026 BPC Client Conference in Cape Town.
- •Eight major Nigerian banks generated ₦514.82 billion ($386.5 million) from electronic payments in the first nine months of 2025.
- •Six Nigerian banks invested ₦268.7 billion ($201.7 million) in IT infrastructure in 2024, including core banking upgrades.
- •Cyber‑enabled scams caused $14.3 billion in losses in 2025, with 90% of financial crime professionals reporting increased AI‑driven attacks.
Why It Matters
African banks face mounting pressure to deliver faster, more convenient digital services. By leveraging the capabilities already embedded in their payment platforms—such as rule‑based spending limits, fraud risk assessment, and AI‑driven transaction monitoring—banks can launch new products, improve customer experience, and expand into new markets without the high cost and disruption of full platform overhauls. This approach could free up capital for further innovation and strengthen resilience against growing cyber‑crime threats.
Key Details
- Electronic payments revenue (Nigerian banks, 2025 Q3)
- ₦514.82 billion ($386.5 million)
- IT infrastructure spend (Nigerian banks, 2024)
- ₦268.7 billion ($201.7 million)
- Cyber‑crime losses (2025)
- $14.3 billion
- Increase in AI‑driven attacks (survey)
- 90% of professionals
Context & Background
The article notes that African banks are heavily investing in technology and expanding beyond traditional banking, yet many still underutilize the advanced features of their existing payment systems.
Original Reporting & Sources
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