The application Multicaixa Express registered, in the last month of October, a total of 34,2 million operations, which represents a higher number than the movements carried out by Automatic Payment Terminals (APT) which was 33,3 million.
The numbers were presented recently in Luanda, by the deputy governor of National Bank of Angola (BNA), Rui Miguêns, speaking at the XI Forum on Economy and Finance, organized by the Angolan Association of Banks (ABANC), highlighted that the number of purchase operations at TPA presented, in December 2017, a total of 12,3 million, based on in the report of Interbank Services Company (EMIS) referring to the month of October 2022 amounted to 33,3 million, an increase of almost three times.
These numbers represent a “significant” increase in the number of financial transactions using electronic means of payment, in the opinion of the deputy governor of the BNA, noting that “it is indicative of how fast the penetration of products and services other than those typically offered through the bank branch channel can be".
Another factor highlighted by Rui Miguêns is the digital disruption in Angola, which shows that what is at stake, “it is not just competition between channels of the same banking institution or between banking institutions".
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Still in his approach, the manager highlights the evolution observed in the EMIS indicators, showing that bank customers are starting to favor digital means to access banking services and carry out transactions.
“We observed that, in addition to the operations of traditional non-banking institutions, service-oriented startups gradually began to have mobile wallets integrated into their applications“, He stressed.
Finally, he added that the significant increase in the number of financial transactions using electronic means of payment is indicative of how fast the penetration of products and services other than those typically offered via the banking channel can be.
Therefore, Rui Miguêns argues that competition for the consumer of financial services is no longer just between banks, currently, the BNA has licensed sixteen companies providing payment services, including companies promoted by providers of telecommunications services and fintechs.
"The BNA is not alien to this process and, beyond the regulatory space that it has been offering for an ever-increasing range of digital financial products and services, it has also been studying and implementing technologies such as robotics and artificial intelligence, a way of make business processes faster, safer and more transparent“, Finished.
