IBSI Research indicates 70-80% of the financial institutions in the Middle East and African (MEA) region believe that they need a significant transformation for their payments strategy. Some 20-30% of these institutions have already initiated transformation projects. The remainder will likely follow soon, ensuring that major investments will rapidly reshape the MEA the payments value chain.
This executive briefing from IBS Intelligence provides research-based insights into the evolving payments strategy of MEA financial institutions, the challenges they are facing, and how they are planning to tackle these challenges.
The paper begins with an overview of the MEA payments landscape and provides a summary of the drivers for transformation and their implications for the industry. It also takes a deep dive into the top seven payments challenges/focus areas for financial institutions, supported by relevant recent industry examples.