Orange Business Services and Genesis Analytics partner to support digital banking transformation in MEA
Orange Business Services and Genesis Analytics have signed a partnership agreement to jointly serve the financial services industry in Africa and the Middle East. The partnership is focused on providing strategy consultancy to prepare financial institutions to launch new digital ecosystem banking services. It will also help these financial institutions address the increasing disruption of innovative mobile payment and digital banking business models with a full portfolio of digital capabilities.
The partnership combines Genesis Analytics’ African and Middle Eastern expertise in regulatory economics, strategy and market research with the Orange capabilities in digital, cloud and network services. Together the two companies have already delivered digital banking strategy consultancy engagements for leading institutions, including leading banks in Africa and the Bill & Melinda Gates Foundation, with its focus on financial inclusion.
“Banks and regulators in Africa and the Middle East are looking for digital partners to support them in their digital transformation journey, from strategic regulatory advice and building co-innovation sandboxes to hosting banking solutions in the cloud. Together with Orange Business Services we are now able to offer these new digital services to our large established customer base in the region,” said Richard Ketley, Managing Partner of the Financial Services Strategy practice at Genesis Analytics.
“The financial services sector worldwide is disrupted by rapid consumer adoption of new technologies and changing regulatory frameworks on payments, privacy and cloud computing. These changes require banks to alter their operating models, especially in Africa and the Middle East. Combining digital banking solutions from Orange with Genesis Analytics’ deep regulatory understanding of the African and Middle East financial sector provides our customers with a better service to address financial inclusion challenges ahead,” added Pieter Zylstra, Regional Director Digital Transformation and Financial Sector Lead for Middle East, Africa and Turkey at Orange Business Services.
Orange Business Services, which is active in 220 countries and territories, is a leading global digital transformation partner for over 3,000 enterprises. It helps financial institutions fully embrace digital transformation and shift toward an efficient digital operating model. In Africa and the Middle East, Orange already offers digital and mobile banking services and solutions to numerous banks and related financial services businesses.
Genesis Analytics was established in 1998 and is the largest economics-based consultancy firm in Africa, with offices in Johannesburg, Nairobi and Lagos. With more than 20 years of experience working with banks and related financial service businesses in over 50 African and Middle East countries, Genesis Analytics has delivered dozens of mobile money, mobile payment and digital banking regulatory strategy consultancy projects over the last two decades, including for various African financial regulators.