SME Digital Banking Transformation Financial Management

Background

African Bank was repositioning its Business Banking offering to better serve entrepreneurs and SMEs. While known for retail products, the bank needed a dedicated digital solution for businesses to manage accounts, cards, and payments seamlessly.

The existing tools lacked modern features like consolidated views, intuitive mobile experiences, and self-service onboarding, making it hard for business clients to manage their finances in one place.

The Challenges

• Fragmented tools for managing cards, payments, and expenses

• Manual processes for sending money and tracking transactions

• Lack of real-time insights into account health and spending patterns

• High friction in onboarding and adding new payment methods

• Limited personalization and self-service for business users

“Our retail platforms were strong, but our business clients wanted more control. They needed a solution that worked at their speed.”
— Head of Business Banking, African Bank

The Solution

We designed Elevation Business Banking : a modern, mobile-first platform tailored to SMEs and entrepreneurs.

Step 1: Unified Dashboard for Transactions & Accounts

• Consolidated cards, transfers, and payments into a single interface

• Delivered real-time transaction history with smart search and filters

Step 2: Streamlined Card Management

• Enabled adding and managing multiple cards with one tap

• Introduced biometric security and clear visibility of card details

Step 3: Smart Payments & Transfers

• Simplified peer-to-peer and business-to-business transfers

• Added currency conversion and intuitive recipient selection

Step 4: Business Insights

• Built visual dashboards summarizing transaction categories

• Provided quick snapshots of spending patterns for decision-making

The Results (Pilot Rollout)

• 70% faster money transfers compared to legacy process
  Instead of just saying faster, show before vs. after:

  • Legacy: clients had to log in via desktop, enter long account details manually, and wait for batch processing (average completion time: 5–7 minutes).

  • Elevation Banking: with biometric login, saved recipients, and one-tap send, transfers completed in under 2 minutes.

  Increased self-service adoption (60%+ card management done digitally)

  • Previously, clients had to phone or visit a branch to request a new card or change card details.

  • Post-launch, 6 in 10 clients managed cards fully through the app (add new card, block, replace, set limits).

  • This cut branch support calls by 35% within the first quarter.

  Improved visibility with categorized expenses and real-time summaries

  • Clients could now see auto-categorized spending (e.g., Travel, Shopping, Utilities) — no more manual reconciliation.

  • Daily account summaries surfaced % spend per category, helping SMEs budget proactively.

  • Finance teams reported 50% fewer errors in expense reporting.

  Enhanced client satisfaction (higher NPS)

  • Pre-launch SME NPS: +12 (clients cited “slow, outdated tools”).

  • Post-launch SME NPS: +38 (clients highlighted “speed” and “ease of use”).

  • Qualitative feedback:

    “Feels like a modern business bank finally built for us.”
    “I can run my finances from my phone between meetings, no more spreadsheets.” - Business Client

Final Takeaway

Business banking clients expect the same ease as retail apps, with the added power of financial control and insights. Elevation Business Banking gave African Bank’s SME clients exactly that: a secure, modern, and intuitive platform built for growth.