Data-Driven Strategies at Absa: A Conversation with Hartnell Ndungi

Managing data across diverse countries and markets can feel like trying to juggle flaming torches while riding a unicycle. It’s no small task. It takes not just vision but strong leadership to navigate these complexities effectively. This was a prominent theme during our conversation with Hartnell Ndungi, the Chief Data Officer at Absa—one of Africa’s largest banking institutions.

In an era where data shapes industries, Absa is taking significant strides in leveraging analytics. Our discussion with Hartnell shed light on how the bank is enhancing customer experiences, improving fraud detection in digital payments, and staying competitive within the rapidly expanding fintech arena.

About Hartnell Ndungi

Business Insider Africa (BIA): Could you please introduce yourself and share what your role entails?

Hartnell Ndungi: Absolutely. I am Hartnell Ndungi, the Chief Data Officer at Absa. My responsibility encompasses managing data operations across ten markets within nine countries, which include Kenya, Uganda, Tanzania, Botswana, Ghana, Mauritius, Seychelles, Mozambique, and Zambia.

Leveraging Data Analytics for Enhanced Customer Experience

BIA: How is Absa utilizing data analytics to enhance customer experience and bolster fraud detection in digital transactions?

Hartnell Ndungi: First and foremost, it’s essential to recognize that data serves as a cornerstone of our strategy at Absa. We’ve assembled one of the largest data teams in Kenya, comprising over 40 data specialists dedicated to business intelligence, data management and governance, as well as artificial intelligence.

With such a talented team, we can pinpoint the data points that reveal our customers’ behaviors and preferences. These insights are not only instrumental in shaping our product offerings but also vital for safeguarding our customers against potential risks.

Fraud detection is where this capability shines. By employing artificial intelligence and analyzing behavioral trends, we can identify signs of fraud and take preventive actions before they impact our customers. This proactive approach is woven into our mobile banking, internet banking, and core banking platforms, creating a seamless and secure user experience.

Adapting to the Evolving Financial Landscape

BIA: In this swiftly changing digital financial ecosystem, how is Absa adapting to maintain its competitive edge and retain market share?

Hartnell Ndungi: The persona of the financial customer has shifted dramatically over time. With fintechs now entering the same space, we’re witnessing a demand for varied customer experiences. This transformation heightens the importance of data and digital innovation.

Gone are the days when traditional branches solely attracted customers. We are now thriving in the digital landscape. Absa has actively sought partnerships with fintech companies, striving to gather and utilize data that can help us tailor services to meet individual customer needs.

One of our standout digital products is Timiza, a service that exemplifies our commitment to accessibility. While I can’t unveil our next big offerings just yet, I can assure you that we’re focused on providing customers with seamless access to savings and loan products entirely via mobile platforms, sparing them the need to step into a physical branch.

The Core of Digital Transformation

Data is not merely a tool for us; it’s woven into the fabric of our digital transformation strategy. You’ll notice this reflected in the products we’re rolling out and how we’re responding to the evolving expectations of our customers.

As a fun aside, I often liken our work to gardening. Just as a gardener must understand the unique needs of various plants to ensure they flourish, we, too, must understand our customers at a granular level. The more we discover about their preferences and behaviors, the better we can shape our offerings.

Isn’t it fascinating how technology has enabled greater personalization? What once seemed a distant dream is now a reality. With the right data, we can create experiences that resonate deeply with individuals. What could be more rewarding than knowing you’re meeting customer needs before they even articulate them?

In summary, our conversation with Hartnell Ndungi reveals that the future of banking—especially within the context of Absa—is vibrant, driven by data and innovation. As the financial landscape continues to evolve, it’s clear that being data-savvy is no longer an option; it’s a necessity.

Edited By Ali Musa
Axadle Times International – Monitoring.