Modernizing Legacy Systems in the Financial Services Industry: Discussing The Value at Digital Finance Africa.

According to Nkosi Kumalo, Managing Executive of BCX’s digital arm, Exa, the financial sector is at a crossroads, where legacy infrastructure meets disruptive change.

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

He’ll be discussing digital transformation in financial services with over 20 inspirational speakers and over 300 finance and technology executives. The Digital Finance Africa platform aims to bring together African financial service executives and technology companies to debate important issues that the industry must address as it embarks on its digital transformation path.

The conference will also look at how financial institutions can compete with challenger banks by leveraging emerging technologies like AI, IoT, Big Data, Blockchain, and Cloud Computing to better serve their clients, enhance efficiency, and increase profitability – especially in the face of current problems.

According to Kumalo: “The financial sector has been pressured by the 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 modernize legacy IT architecture, even areas that were previously considered inviolable.”

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

Kumalo will explain why infrastructure modernization is critical for competitive growth and opportunity in his talk. “The financial industry is on the verge of a new era of work, so now is the moment to make use of machine learning, data science, and analytics, as well as develop the apps that will help you seize these opportunities.”

BCX, a leading provider of end-to-end solutions, is the event’s webinar sponsor, with Nkosi Kumalo speaking between 12h45 and 13h15 on the day.

You can register for the program here.


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Sodiq Ajala
Sodiq Ajala
Co-founder, Tech with Africa. Tech SEO | Website Auditing, Content Marketing, Copywriting, Data Analytics | I help businesses use content & technical muse to increase sales rates by 75%.

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