While it announces the future opening of subsidiaries in China and America, the Equato-Guinean group BANGE BANK is currently taking advantage of Sibos 2023 in Toronto, Canada to promote its expertise, and the opportunities it offers, to large global financial groups.
SIBOS is the financial services event of the year, organized by Swift. The annual conference and exhibition connects thousands of executives, decision makers and thought leaders from across the industry among which are the CEO of BANGE CREDIT in SPAIN, and Assistant Director of Management Control of BANGE BANK.
Speaking to Afrique Media about BANGE BANK’s participation at SIBOS, Mr. Rafael Garcia Rodriguez, CEO of BANGE CREDIT in SPAIN, stressed the importance of taking part in the conference, stating their participation in previous events in 2015 and their official presence in 2017. He stated that SIBOS is a place to be for banks interested in international expansion because most of the important banks in the world are as the European Central Bank among others.
He also stated that their presence at the conference has improved on their international reputation and their public relations, allowing them to do business in places that were previously impossible. Being at SIBOS is also an attestation of BANGE BANK’s Compliance with international financial standards and security, which are levers required to do business in the international market.
Being at SIBOS also gives BANGE BANK the opportunity for south-south relations with banks and other financial stakeholders, companies working with FINTECH and Artificial Intelligence and compliance, all-important stakeholders needed for expansion in the financial market.
Mr. Rafael also referred to BANGE BANK as an entryway for banks interested in doing business in places where they are geographically present.
Speaking on the issue of collaborating with other service providers in the banking system such as MASTERCARD, Mr., Oscar NSUE NGUI; Assistant Management Control Director stated that it is a possibility because being at SIBOS means they are competitive enough to work with international organizations thereby making a good name for themselves. He also stated that the fact that they are the only bank offering services in Spanish is an additional advantage for BANGE BANK, since most banks in central Africa offer their services in French, Portuguese or English. So BANGE BANK has an added advantage of working with banks for Latin America and other Spanish speaking countries.
Regarding the BANGE BANK’s strategy used to convince people to bank with them, Mr NSUE NGUI said Bange uses the same technology and complies with the same standards and policies like western banks today, so it is a clear indication that Bange is ready to work with the west. Also BANGE BANK has a strong presence in many African countries like Cameroon, Equatorial Guinea and Benin.
Speaking on what the rest of the conference hold for BANGE BANK, Mr. NSUE NGUI said they have meetings booked with Bank Santander Cooperation Investment And Banking, Atijariwafa Bank, Bank of America, MICROSOFT, BARCLAYS and Bank of America. He also stated that these meetings may not create business opportunities immediately but could be the beginning of fruitful future relations. Their main target for now is to show that as an African bank, BANGE BANK can be follow the rules of the international financial market and work with the same professionalism as western banks. Mr. Rodriquez buttressed this point by stating that having an account with BANGE BANK is an access point to many other banks in Central Africa.
Nonetheless, BANGE BANK has to show that they are good enough to do business with the west, not just try to convince them with their words.
To conclude, Mr. NSUE NGUI stated that he is very happy to be in Canada, representing an African bank that is ready to be in the international sphere when it comes to the financial market. He also stated that BANGE BANK has to align itself with the changing environment of the financial market, adapt to the new technologies of banking, and grow with the trends of E-Banking and artificial intelligence because that is where the banking system is headed.
Mr. Rodriquez said their presence in Spain means they are doing a great job with regards to international compliance and they are looking to expand to China and other parts of the world.