Barclays to complete transition next year
Barclays Bank Botswana will complete its brand and name change to Absa by June next year.
Speaking to Voice Money this week, the bank’s Managing Director, Keabetswe Mpho-Moshagane described the separation of the bank’s operations from Barclays as ‘a large and complex programme’.
She explained it would be executed gradually across systems, platforms, policies and procedures.
“The separation process has been the catalyst for a significant strategic and cultural reset of our organisation,” noted the MD, who was appointed to her current position in April this year.
Mpho-Moshagane warned customers to expect service disruptions during the course of the transition, but stressed measures have been put in place to mitigate against fraud, as well as to moderate the impact on customers.
“To date the bank has successfully migrated several systems to its data centre in Johannesburg. The migration of the core banking system and the digital channels are the two major migrations that the bank has achieved recently,” she revealed, adding that the transition was going well.
The MD says the bank will continue to implement changes to systems and the look and feel of local branches this year as the set date of June 2020 draws closer.
The bank has promised customers an exciting and promising future as it redefines itself as an African brand, digitally led with the hope of bringing possibilities to the continent.
Barclays’s transition to Absa follows the 2016 decision by Barclays PLC, a London based banking giant, to pull out of the African market.
The group announced its decision to reduce its stake of 62 percent in Barclays Africa to a non-controlling position in the next two to three years.
Prior to that, Barclays had been operating in the continent for almost a century, operating in 12 countries and employing over 45, 000 people across its vast branches.
Barclays has been gradually reducing its stake in Barclays Africa, resulting in the change of name from Barclays Africa to Absa Group.