Future of African banking runs on clean, reliable and efficient power  

The future of African banking runs on clean, reliable and efficient power - Schneider ElectricAfrica’s banking landscape continues to undergo exciting change, fuelled by regulatory reform, population growth and digitalisation. Indeed, banks across Africa — from Ghana and Kenya to Côte d’Ivoire — are embracing innovation to meet the growing demand for accessible, secure and efficient financial services. 

In fact, according to the 2024 African Digital Banking Transformation Report, 76% of surveyed banks consider digital transformation a strategic imperative, with 60% reporting that most of their operations are now digitally enabled. 

South Africa, in particular, is well known for its innovative banking landscape. The country’s banks have long been world leaders in digital banking, with sophisticated mobile platforms and integrated customer journeys. 

Stable power is critical to the functioning of South Africa’s banking industry
However – and this is a constant throughout the continent – there is a need for stable and clean power to enable the seamless functioning of digital banking systems. 

Banking today is heavily reliant on uninterrupted power to support 24/7 operations, data integrity, customer accessibility and real-time processing. It is a non-negotiable that not aligns with rigid regulatory requirements but also differentiation in a highly competitive marketplace. 

When looking at regulatory requirements, in South Africa the Prudential Authority has incorporated Basel III Framework standards for stringent operational resilience and risk management standards into local regulations, reinforcing the expectation that banks maintain high availability of services to protect financial stability. 

Risk of disruptions
Stable power is thus critical to the functioning of South Africa’s banking industry; without it, banks face disruptions to core operations such as: 

Transaction processing and digital banking: ATMs, online platforms and point-of-sale systems rely on uninterrupted power and connectivity. 
Data centres and cybersecurity: Banks host sensitive financial data that must be protected and accessible 24/7. Power outages increase the risk of downtime and potential breaches. 
Customer service and compliance: From call centres to regulatory reporting, consistent power ensures banks meet both customer expectations and legal obligations. 
Sound backup 
This why many banks have invested heavily in backup systems and are exploring renewable energy solutions to mitigate against load shedding risks. It is also here where uninterruptible power supply (UPS) systems are critical. 

Today’s modern UPS solutions go beyond backup power; they condition the energy supply, regulate voltage and filter out electrical noise. This is particularly vital for banks’ on-premises data centres, branches and ATMs, as any disruption could halt services, causing reputational damage and eroding customer trust. 

Schneider Electric’s Galaxy VXL UPS offers scalable, high-efficiency, three-phase power protection for medium to large data centres and mission-critical facilities. 

With lithium-ion battery compatibility, high energy efficiency (up to 99% in ECOnversion mode) and robust performance in harsh electrical environments, the Galaxy VXL is designed to deliver both reliability and sustainability – two critical requirements for modern banking operations. 

Key Galaxy VXL features include: 

Live-swappable components (for example, static switches and power modules) for zero-downtime maintenance;
Arc flash protection for improved personnel safety during servicing;
Modular scalability to grow alongside expanding digital infrastructure; and
Advanced monitoring and remote management capabilities for operational transparency and control. 
As African banks continue to digitise, energy resilience will define their ability to innovate, serve customers and remain competitive. With trusted solutions like the Galaxy VXL UPS, Schneider Electric is helping banks across the continent secure their operations, reduce downtime and build a resilient digital future. 

Source:https://techcentral.co.za