The Moroccan banking group Bank of Africa has decided to take ownership of blockchain, the new competitive frontier for international financial transactions. This decision is in line with its strategy to meet the growing expectations of its clientele.

Present in several UEMOA countries through Atlantic Finance Holding, Bank of Africa, announced that it has offered blockchain technology to facilitate commercial transactions for its clientele at the international. According to the Moroccan banking group, this decision is a new threshold to cross in an environment of international financial transactions marked by solid competition.

The bank explained in its press release that “this strategic partnership will enable the banking group to facilitate international trade, improve the visibility of underlying flows and improve the customer experience. Indeed, the creation of private and secure networks on the blockchain will allow for closer collaboration and trust between the bank and its customers.”

The blockchain network is a concrete response in terms of user experience to current international payment systems according to several experts. These involve a large number of intermediaries, costs for the customer, long processing time, and operational or fraud risks. The bank says it is firmly committed to providing a cutting-edge customer experience and to digitizing the documentary exchanges of international trade transactions using blockchain technology.