Many of the problems facing the banking industry today can be more effectively solved if banks cooperate to pool resources and realise economies of scale and thereby reduce costs. A good example of this is the project, spearheaded by the UBA, to build a joint technological platform for agent banking, which can be shared by all banks.
As digital financial services become an increasingly prominent feature of the banking market, the sharing of joint platforms by banks offers the potential to generate significant costs savings, which can be passed on to customers.