43% of African Banks Identify Fintechs, Neobanks and Telecoms as Top Threats to Their Business.

43% of banks cited the rise of fintechs and challenger banks as the biggest threats to their business according to the third edition of the African Digital Banking Transformation Report released by The African Banker Magazine in which a record 153 banks across 33 countries on the continent were surveyed. This was further reflected in the priorities carried by the banks this year with at least 83% of the banks considering building digital payments mobile app or a mobile wallet app as a priority to stave off the competition from the fintechs.  However, there are possible synergies between fintechs and…