Page 53 - Capricorn IAR 2020

2020 INTEGRATED ANNUAL REPORT
Fintech, insurtech and evolving digital assets
The interplay between digital, data and customers is disrupting conventional banking and transactional models. New players design flexible and dynamic solutions based on new financing platforms, open banking and cloud-based products and services. We address this through strategic initiatives that focus on transforming our existing entities and explore new digital growth opportunities.
We have a range of projects in ecommerce, distribution, payments solutions, digital banking and biometrics in different phases towards launching. A highlight this year was the introduction of SPENN in Zambia, as profiled in the Group CEO’s report.
Our digital platform focuses on evolving the Group’s digital assets. A Group digital and information technology advisory committee is being established to provide advice to the GBITC on digital and information technology matters.
The quality assurance forum reviews submissions to the executive management team to ensure proper governance in change management.
Capricorn Group’s shareholding in Paratus offers access to new technology and digital infrastructure options. Paratus continues to invest in infrastructure assets, for example, an expanded fibre network in Windhoek, Swakopmund and Walvis Bay.
We are committed to making diverse investments in customer-centric technology and digital assets. This drives the migration of customers to digital banking facilities.
STAKEHOLDERS THAT HAVE AN INTEREST IN THIS MATTER
Customers
Government and regulators
Shareholders
Strategic alliance partners
2020
46.0
(8.8)
25.1
(3.4)
Digital migration indicator
% growth in mobile app use
% growth in iBank use
% growth in cellphone banking % growth in point-of-sales
RELATED STRATEGIC CHOICES
Building our foundation
Win through operational excellence
Compete through strategic relationships and partnerships Target technological/ borderless/cyber opportunities
2019
58.1 (1.5)
23.8 5.4
BOARD OVERSIGHT
GBITC
2018
58.3 5.4 24.1
(4.8)
RELEVANT PRINCIPAL RISK
Technology Operations Reputation
Data has been identified as a key strategic focus
and we will continue to invest in building our capability with specific focus on data engineering and
data science to provide value to our customers
and our businesses.
Group CEO’s report from page 23
Financial director’s review from page 31
51