29 May, 2025
In September 2024, Verina Mohanlal stepped into the role of Head of Financial Services Industry: Applications & Cloud for the Middle East and Africa region at NTT Data. With over 16 years of experience in the financial services space, including nearly a decade at Standard Bank, Verina brings both deep technical knowledge and strategic insight to her new position. As Africa’s banking sector accelerates its digital transformation, Verina is leading the charge to ensure that innovation goes hand-in-hand with inclusion, impact, and sustainability.
In this exclusive Q&A, we get to know the leader behind the title — and explore her vision for a tech-driven, human-centered financial future in Africa and beyond.
When I first joined NTT DATA, my main focus was on creating awareness and visibility around our financial services industry solutions. I wanted to align our offerings with key industry trends like cost, compliance, and customer experience. I spent a lot of time understanding our clients, sharing thought leadership, and highlighting our global offerings tailored for our region and market.
NTT DATA stands out because of our deep industry expertise and domain-specific solutions. We combine our global experience, and practice, with local experience and insights to offer a full stack of services (from strategy and advisory to infrastructure and network management) that meet our clients’ needs. Our solutions are designed to support transformation, operational excellence, resilience, and experience, ensuring they are industry-specific and effective.
Technology is a crucial enabler for driving financial inclusion in MEA. It makes financial services accessible and affordable for a broad spectrum of the population. Mobile banking, digital payment systems, and real-time payments allow people to participate in the financial system, fostering economic growth. The widespread use of smartphones and digital platforms has revolutionized access to financial services, making it easier for people to save, invest, and transact securely.
Financial health in today’s African markets is all about accessibility, stability, and transparency of financial services. It means individuals and businesses can manage their finances effectively, access credit, and invest in growth opportunities. Financial health is important because it drives economic development and enhances the overall well-being of communities. A strong financial system is essential for sustainable growth and resilience against economic changes.
Balancing global cloud solutions with local market needs in MEA involves customizing our offerings to meet regional requirements while leveraging global best practices. We focus on localization, compliance with local regulations, and integrating cloud solutions that enhance operational efficiency and scalability. By understanding the unique challenges of the region, we ensure our cloud solutions are both effective and compliant.
High-performing banks in 2025 and beyond will be defined by their interconnected customer experience, maturity and adoption of digital-only banking, AI and automation, embedded finance, and sustainability practices. These banks will continue to evolve and mature the use advanced technologies to enhance customer experience, ensure cost-effective compliance and operations, and offer personalized services. Cybersecurity and privacy protection will also be critical as banks navigate the digital transformation landscape.
I’m really excited about the rapid digital transformation and the potential for innovative solutions to drive economic growth in MEA. The integration of AI and real-time payments will mature the financial landscape, making services more accessible and efficient. The region’s commitment to embracing technology and fostering financial inclusion presents immense opportunities for growth and development.
Financial institutions are facing challenges like regulatory compliance, cybersecurity threats, and the ongoing digital transformation. NTT DATA helps solve these challenges through deep expertise and advanced technology solutions and accelerators in risk and resilience that enhance risk management, improve operational efficiency, and ensure compliance.
Outside of work, I find inspiration and motivation in spending time with my family and enjoying outdoor activities. I also love coaching and mentoring others. Connecting with people and sharing insights gives me a sense of purpose. Seeing the positive impact of coaching and mentoring on individuals really fuels my drive to keep making a difference.