Digital natives are comfortable with technology, use computers easily from a young age, and consider technology an important part of everyday life. Because digital natives are comfortable with conducting previously-offline activities digitally, businesses have responded. In this post, we will explore what a digital native business is.
What is a Digital Native Business?
A digital native business (DNB) is an organisation that manages most of their business operations using digital technologies. DNBs have a customer-centric approach and understand that their customers prefer personalised, empathetic service. To them, excellent customer service is a priority because digital natives base their opinions of brands according to digital experiences.
With the evolution of technology and the ever-changing needs of the digital native consumer, traditional businesses are feeling the pressure to digitally transform and to become DNBs. Merely existing online or having an online store doesn’t mean a business can be considered a DNB.
Rather, DNBs are data-driven and truly understand and utilise the valuable insights gleaned from customer data. This allows them to leverage data to ensure that they remain competitive and innovative within the fast-paced digital economy. DNBs use digital technologies and channels to interact with customers and get feedback to facilitate growth and change.
ACBM: How to Build a Digital Native Business in Africa
Like most DNBs, ACBM’s founders realised that the banking industry needed to be modernised and focused on the customer. With their combined 50 years of experience within the industry, they envisaged a digital banking platform that was simple, reliable and personalised to their customers.
As a result, their customers have regained control and power over managing their finances from wherever they are. The platform is flexible, user friendly, bespoke and cost effective regardless of customers’ needs.
On the 17th of February, ACBM, DotModus, DigiCloud Africa, and Google hosted a webinar about how ACBM developed into one of the first regulated, digital native investment banks using Google Cloud technology.
Stephan Schoeman, Google Cloud Business Manager, Gregory MacLennan, CEO of DigiCloud Africa, Simon Tobelem, co-founder of ARIE Capital Group and Group CEO of ACBM, and Thomas Fowler, CEO and co-founder of DotModus spoke at the event.