Job Description
The Head of Digital banking is responsible for the commercial success of the Digital banking business by defining the Digital banking strategy and laying of roadmap of activities that will allow the Digital banking enterprise to reach the set targets.
The role will lead the ‘Bank of the Future” by developing, implementing, and managing the company’s digital strategy in line with Bank’s strategy, Group’s digital strategy, values, business objectives and priorities with a view to generate revenue, increase deposits and improve customer experience.
Oversee the Bank’s New Products enablement on digital channels and Innovation Strategy by overseeing the product development process and, project implementation of the Bank’s strategic initiatives. Formulate and execute the Bank wide customer acquisition strategy through physical and digital channels to achieve expected client book size.
The role proactively supports customers by eliminating pain points and solving queries with a view to increase customer satisfaction and loyalty.
The ideal Head of Digital banking is generally a business-facing person, empowered to fill the role. It is important that they understand the digital banking landscape, products, channels, business, and any constraints involved.
By creating and communicating a clear digital banking evolution path, the Head of Digital banking focuses their efforts on delivering the best possible customer value.
Working closely with the Group digital & Data team , marketing and ICT teams, they provide the product vision and direct the teams to best meet consumer and business goals.
In consultation with the Group Head Digital & Data and Banking Management Team.
Duties and Responsibilities
Digital Banking strategy & Planning
Sets and develops the Digital banking strategy and digital evolution through research driven insights in line with the overall Group Digital & Data strategy and Bank strategy
Maintaining an awareness of relevant country and industry forces affecting the strategic approach for the Digital banking business
Identifies new Digital banking opportunities, new products and services in the Digital banking space and improvements to existing Digital banking and discussing these with CABS Management
Defines the road map for the Digital banking relevant to the current market demand, and to the identified future growth areas, as per the targets and financial budget.
Assures relevance and strategic fit for all new Digital banking channels, products including internet banking, WhatsApp, USSD, Mobile app, cards, point of sales, mobile banking, payments, ATM’s, Website, SMS, ecommerce gateway and third-party integrations & partnerships) developed in line with the strategic direction
Digital Banking Product & Channel Management
Responsible for end-to-end development of the Digital banking products, channels lifecycle in line with the Digital banking roadmap
Translates product strategy into detailed requirements and prototypes
Leads the product ideation, concept, product development as well as oversee the maintenance, support and upgrading of delivered projects within timelines and budget
Develops the business case for new products, improvements to existing products, and business ventures.
Oversees the product development process of the final Digital banking use cases within set requirements and timelines.
Digital Banking Product Commercialization & Performance Management
Meet the set revenue and profitability targets for all Digital banking assets (including internet banking, WhatsApp, USSD, Mobile app, cards, point of sales, mobile banking, payments, ATM’s, Website, SMS, ecommerce gateway and third-party integrations & partnerships).
Responsible for channel profitability and cost benefit analysis for all digital channels
Participates as a full member of the new product development and pricing committee
Drive Customer Acquisition, Activity and Retention in line with set targets for the Digital banking
Plan and drive product launches in conjunction with CABS marketing and PR teams
Monitoring and measuring of Digital banking profitability and taking appropriate action
Manages the overall Digital banking product and marketing mix, customer experience and the contribution of each Digital banking use case
Oversees the continual Digital banking life cycle process and adjusts accordingly.
Reviews benchmarking analysis of competitors, including capabilities, technology, products and services in order strengthen the Digital banking and services.
Engages stakeholders (internal, external) by:
Conducting Brainstorming sessions (“Think tank”).
Producing research and feasibility reports.
Analyzing, developing and recommending Digital banking design.
Digital Banking Product Operations
Oversees the operations & compliance of all digital banking assets and relationships
Ensures process alignment and operational efficiency is reflected at product level
Attends to and ensures Digital banking product and customer compliance with internal and external set regulation and policies
Reporting and regulatory adherence of all Digital banking related requirements
Prepares new business initiatives (NBI documents) and concept papers, business case approvals for new products, services and delivery channels
Performs regular product performance reviews, recommending enhancements, terminations, new products.
Originates product change requests and liaises with ICT and O&M to ensure that Change Requests are properly effected on the system
Reviews and updates the bank’s retail product manual and is responsible for its custodianship.
Ensures compliance on all card scheme requirements (VISA, Mastercard, UnionPay)
Stakeholder Management
Manage and maintain oversight over the Bank’s outsourced services including Multipay, EFT, ZSS and other contracted partners as well as liaising with them on any new digital initiatives
Manage and maintain oversight over Agency initiatives relating to Textacash, Money Transfer Agencies (MTA) and any other service providers to integrate them with the bank’s systems for purposes of providing electronic channels for payments.
Champions integration initiatives with other payment providers, Fin-techs, merchants, mobile network operators and other service providers.
Works closely with internal marketing and business teams to identify key target segments, formulate plans to acquire and educate customers, and strategically drive-up acquisition and usage of Internet and mobile banking.
Oversees the engagement, contractual and SLA’s sign offs with stakeholders and ensures these are adhered to.
Builds relationships and networks with external stakeholders and potential alliances (including local and international card schemes)
People Management
Build, mentor and manage a product team while nurturing a customer-driven product culture.
Ensure continuous support and development of skills and competencies in conjunction with Human capital
Qualifications and Experience
Requirements: Skills, Qualifications and Experience required
A minimum of 4 - 6 years of experience in the Digital banking /product development / payments / Financial services / information technology industry
Experience in System thinking and Design, Analysis, Product development and Management, Scaled Agile delivery, and mobile money solutions
Experience in the Digital banking space will be an added advantage
Understand and Present insights and results of campaigns and plans to senior leadership
Commitment to deliver the agreed work through the team and relevant stakeholders.
Understand the value of Commercial and Adoption metrics, how to manage a P& L, track, and drive performance.
Stakeholder Management & Communication Skills
Skills
Business Objectives, Customer Satisfaction, New Product Development
Education
