Possible careers within this industry:
Economist – Banking analyst – Bank manager – Financial advisor – Investment banker
outh Africa’s banking sector has undergone rapid and widespread change in recent years, as disruptive technologies have forced banks to innovate and change old ways of doing business. It might be hard to imagine a world without mobile banking, but these and other digital developments, such as apps and online/mobile payments, are fairly recent. Start-ups in the financial technology arena, commonly referred to as “fintech”, are giving banks a serious run for their money as they enter spaces traditionally dominated by banks, such as payments and lending.
Notwithstanding these exciting changes, South Africa’s banking sector remains the most developed and well-regulated banking sector on the continent. That the sector is alive and well is demonstrated by the entrance of new players. These include Capitec, as well as the large number of global investment banks that have established branches and representative offices in South Africa. These include Goldman Sachs and HSBC.
What to study
of the bank’ consider studying a business science degree with a specialisation in accounting, finance or economics. Most banks have articles programmes for individuals wanting to become certified chartered accountants. If you’d prefer to be involved in running a bank’s public relations or advertising campaigns, then a marketing, media or communications degree is advisable. And with technology developing at the rapid pace that it is, just about every business – banks in particular – require considerable IT expertise.