In race to digitise, skills gap a drag on South Africa's big banks [Reuters (UK)]
STANDARD BANK GRP SP/ADR (SGBLY)
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Source: Reuters
In race to digitize, skills gap a drag on South Africa's big banks - Reuters 4 Min Read JOHANNESBURG (Reuters) - A severe shortage of computer skills in South Africa has left its major banks fighting over a limited pool of people with the skills they need to upgrade technology platforms and keep pace with changing customer demands and competition from new rivals. The country’s four biggest lenders - Absa, Standard Bank, Nedbank and FirstRand - told Reuters it was hard to access the skills they need to rapidly digitize - a response to growing demand for online and mobile banking and the arrival of a host of digital-only banks trying to steal their customers with slick apps and cut-price fees. All four said they had taken a number of measures to address the shortage, including changing their hiring strategies, implementing for example ‘speed dating’ style events where large numbers of candidates undergo short interviews in one go, and developing training programs. But in some cases lend
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