Absa and Deloitte Drive Transformation in the Financial Sector with a Focus on Sustainable Innovation

Absa Bank Mozambique, in partnership with Deloitte, held the 2nd edition of the Banking Forum this Wednesday, November 5th, in Maputo. The event, whose central theme was "Sustainable Innovation and Regulatory Trust," brought together sector leaders, academics, and national and international experts for an in-depth discussion on the future of the Mozambican financial system.

Constructive Dialogue as an Engine for Change

The Forum reinforced Absa's commitment to fostering a constructive dialogue about the future of banking, actively promoting practices that drive sustainable growth, inclusion, and trust. In this regard, Iuri Khan, Compliance Director of Absa Bank Mozambique, highlighted: “There is a unique energy when the sector comes together to discuss the future with openness and ambition. This Forum showed that innovation and regulation can coexist in balance, driving a stronger and more responsible banking sector. True progress happens when ethics and sustainability cease to be mere rhetoric and become daily practice.”

Trust: The Foundation for Lasting Transformation

The main session featured a presentation by Olamide Harisson, IMF Resident Representative in Mozambique, who addressed the theme “From Trust to Transformation – The IMF’s Perspective on Modern Banking”. Harisson emphasized that trust is the foundation for any significant transformation in the sector. Furthermore, he stressed that innovation must go hand in hand with integrity and transparency, and that the adoption of responsible practices is a determining factor for stability and growth in emerging economies.

Combating Financial Crime in the Digital Age

On the other hand, Vera Pita, Head of Financial Crime Consulting at Deloitte, focused her presentation on the theme "Trust Transformed – Innovation and Technology Against Financial Crime." During her presentation, she warned that cybercrimes represent one of the greatest current challenges for the Mozambican financial system. Given this scenario, she advocated for the urgent need to strengthen and diversify monitoring mechanisms to effectively mitigate and prevent these threats.

Consensus for the Future: Safety, Efficiency, and Regulation

Throughout the discussions, it became clear that digital transformation is redefining how banks operate, requiring continuous investment in information security. Experts unanimously agreed that cybersecurity should be understood not as a mere technical obligation, but as a fundamental pillar of trust between banks and customers.

With regard to operational efficiency, the focus was on the role of new technologies and data intelligence in improving the Customer Experience. For Absa, these are the pillars of a modern bank, geared towards offering fast, secure and personalized solutions.

Finally, the view that regulation and compliance should not be seen as obstacles, but rather as catalysts for trust and sustainability, has been consolidated. Thus, a clear and collaborative regulatory environment is essential to strengthen the financial system and attract responsible investment.

Conclusion: A Milestone for Mozambican Banking

Recognized as a relevant and productive forum for debate, the Banking Forum brought together voices that actively contribute to the consolidation of a more ethical, inclusive, and sustainable financial system in Mozambique. With this initiative, Absa Bank Mozambique reaffirmed its active role in strengthening the national economy by creating platforms that stimulate dialogue and knowledge sharing. True to its mission of being a strategic partner in the country's development, the Bank continues to stand out for promoting events that inspire innovative, sustainable solutions with a positive impact on society.