Like its global counterparts, the Nigerian banking industry constantly needs innovation, digital transformation, and adaptation to meet rising customer expectations. Amidst these challenges, retaining and attracting top tech talent has become increasingly critical.
This article provides a condensed overview of our case study highlighting how a prominent Nigerian bank overcame these challenges through an innovative partnership with Elev8.
The Challenge: A Shortage of Skilled Tech Talent
The bank needed to embrace constant innovation and digital transformation to remain competitive in the face of stringent regulations, increased competition, and a rapidly changing business environment. This included enhancing digital services, integrating cybersecurity into business strategy, and utilizing advanced technologies like AI and machine learning.
However, the bank needed more skilled tech talent to achieve these strategic goals. High attrition rates and difficulty finding new talent ready to contribute from day one hindered the bank’s ability to thrive in the digital age.
The Solution: Elev8’s Digital Skilling Academy
To address the challenge, Elev8 designed and fully managed a comprehensive solution to enhance tech skills and power skills among the bank’s employees. The solution encompassed many training programs, with a strong focus on both digital and power skills. These programs were delivered by expert trainers and split into four phases:
1. Fundamental digital skills.
2. Specialized tracks like Infrastructure, Software Engineering, Cybersecurity, and Data Analytics.
3. Power skills training, enhancing communication, leadership, and teamwork.
4. A Hackathon to apply the acquired skills and knowledge to real-world scenarios.
One noteworthy aspect of this training was using Elev8’s Talent Management Solution (Talentwize), which enabled digital skills gap analysis and personalized learning journeys for all learners.
The Impact: New Tech Talent Ready to Deliver
The results of this partnership were nothing short of transformative. The bank rapidly onboarded new tech talent, prepared to make an immediate impact. The bank fostered a motivated and committed workforce by investing in continuous development and offering clear paths for progression.
With talented employees skilled in AI, Cloud, Data Science, and Cybersecurity, the bank is now better equipped to enhance efficiency, generate new revenue streams, and personalize customer journeys. These efforts positively impact the bank’s bottom line and help maintain a competitive edge in the market.
Elev8ing Nigerian Banking with Tech Talent
In the ever-evolving banking landscape, having a digitally skilled workforce is paramount. As banks in Nigeria and worldwide continue their digital transformation journeys, the importance of tech talent cannot be overstated. By partnering with Elev8 and investing in skills, this Nigerian bank has secured its position as a digital leader and gained a distinct competitive advantage in the market.
Download the full case study here to delve deeper into the transformation.