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African banks look to AI to personalize services

Aug 11, 2025, 10:21am EDT
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Unitel bank, Angola.
Luke Dray/Getty Images

African banks view the use of artificial intelligence and cloud computing to improve efficiency as their top priority, according to a new survey.

The need for more extensive AI use has been spurred by increased customer demand for personalized banking services, the survey by African Banker magazine and Dutch banking software company Backbase found. African lenders are now exploring the use of customer data to build personalized offerings, while offering support augmented by AI.

But digital illiteracy still constrains African banks’ ability to serve their customers, according to nearly 8 in 10 respondents, made up of 203 senior banking executives from 40 African countries. The report predicts, however, that the falling cost of internet access and smartphones, along with broader electrification, will improve access to digital financial services in the near future.

A chart showing potential productivity gains from generative AI in Africa by sector.
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