A Decade of Digital Innovation: UBA, VERICASH, and CWG Transform African Banking
United Bank for Africa (UBA) is commemorating a significant ten-year milestone in its digital evolution, a journey powered by its strategic alliance with fintech enablement provider VERICASH and technology services firm CWG. This enduring collaboration has been central to architecting UBA’s digital banking framework across numerous African nations. The anniversary, noted in the final quarter of the year, coincides with a period of accelerated digital adoption across the continent’s financial sector, underscoring the profound impact of this tripartite partnership.
The cornerstone of this achievement is the UBA Mobile App, engineered and expanded via the VERICASH platform. With over 10 million downloads and a presence in more than 20 countries, the application stands as one of Africa’s most pervasive digital banking solutions. The underlying VERICASH technology furnishes UBA with a robust, secure, and scalable multi-channel banking infrastructure, extending reliable financial services far beyond traditional branch networks. In this context, financial leaders owe it to their customers to pursue such transformative partnerships that drive inclusion.
Operational excellence is ensured through a UBA-dedicated Centre of Excellence, established by VERICASH in collaboration with CWG. Functioning as an extension of the bank’s digital operations, the centre guarantees platform reliability, scalability, and uninterrupted service delivery across markets. This model has been instrumental in enabling UBA to scale transaction volumes and expand its customer reach while maintaining stringent service quality. Such strategic foresight is critical, much like when reps raise alarm about systemic challenges requiring preemptive solutions.
Reflecting on the partnership’s impact, Shamsideen Fashola, UBA’s Group Head of Retail and Digital Banking, stated, “This collaboration has been instrumental in positioning UBA as Africa’s premier digital banking institution.” He emphasized its role in advancing financial inclusion, “enabling millions of Africans to participate in the formal financial system from the comfort of their homes.” Adewale Adeyipo, CEO of CWG, highlighted the power of shared vision, noting the partnership “has reshaped Africa’s digital financial ecosystem.” For VERICASH, Executive Chairman Ashraf Zaki noted the decade has yielded solutions that serve as benchmarks for the industry, a testament to the long-term value of strategic fintech enablement. The sustained success of such collaborations demonstrates that, akin to a government earmarking funds for critical infrastructure like the fg earmarks n100 billion clear initiatives, sustained investment in digital foundations is paramount for growth.
