When you ask Manav Mengi what excites him most about his work, his answer is simple: transformation. As the CIO of DTB Uganda, he is leading the bank’s shift to digital banking in a country where cash is still king.
Manav Mengi, the CIO of Diamond Trust Bank (DTB) Uganda, believes that the transformation initiative extends beyond technological advancements. At its core, it entails a paradigm shift in societal perceptions, fostering collaboration among financial institutions and ensuring the safety of customers’ funds.
In his opinion, collaboration can potentially revolutionise Uganda’s banking sector. He expresses regret that numerous financial institutions perceive each other as adversaries rather than partners, acknowledging that a cyberattack against one institution can have cascading effects on the entire industry. Consequently, he advocates for the collective efforts of banking industry stakeholders to safeguard the gains achieved through increased access to financial services.
“The funds available in a bank belong to the people who are depositing. If they lack confidence in the banking system, they will withdraw their money from banks and deposit it into mobile systems, which are thriving in Kenya. Consequently, all banks are now competing with mobile systems. This situation is detrimental to the community and diminishes the trust of individuals who entrust their money to the banking system. Therefore, we must collaborate, provide feedback on the issues at hand, and offer mutual support,” he says.
Throughout his career, Manav has consistently demonstrated a commitment to continuous learning and adaptation. He cut his teeth as a software engineer at Best of Software Solutions in his native India, gaining valuable experience in software development, infrastructure, networks, and cybersecurity.
In 2008, he joined American multinational Oracle, where he gained global exposure. Subsequently, he joined I&M Bank two years later as an application development manager. This diverse experience has equipped him for his current role as the IT strategist and security manager at DTB Uganda, where he is responsible for driving strategic initiatives and ensuring robust security measures.
“Throughout my career, I have managed all aspects of information technology, including application development, hardware, infrastructure, networks, and cybersecurity. These diverse components have contributed to my advancement to this position, as a CIO, it is imperative to possess a comprehensive strategy and understanding of all these domains. As the leader of an organisation, you are responsible for guiding its direction and ensuring its security,” he explains
Culture change
Recently, DTB Uganda launched DTBX, a technology company with a banking license. Manav is leading the initiative to adapt the open banking application programming interfaces (APIs) to establish a robust infrastructure and controls that support digital transformation. However, he expresses concerns that widespread corruption could jeopardise the well-intentioned plans.
“With a heavy heart, I must acknowledge the alarming rise of corruption,” he says. “Individuals are increasingly willing to engage in collusion, even with limited opportunities. This poses a substantial challenge to CIOs. Despite implementing robust controls, the presence of colluding team members undermines the effectiveness of these measures. This is the most pressing challenge that most CIOs are currently facing.”
Manav highlights that Uganda’s heavy reliance on cash presents a significant barrier to the adoption of digital banking. He observes that many Ugandans prefer cash transactions due to concerns over taxation, creating a substantial challenge for the transition to digital financial platforms. While robust cybersecurity measures are in place, the risk of internal fraud remains a persistent concern. Manav emphasises that overcoming these challenges requires a cultural shift alongside strengthened accountability measures.
“A significant challenge for many CIOs in Uganda is navigating a predominantly cash-based economy and the high incidence of collusion,” he explains. “The preference for cash transactions remains strong, as many individuals seek ways to manage high tax obligations.”
Despite these challenges, Manav is enthusiastic about automating the bank’s processes, recognising its potential to minimise delays, enhance transparency, and streamline operations. He is committed to digitising DTB Uganda’s workflows to reduce inefficiencies and strengthen accountability.
“We face several operational challenges, including heavy reliance on paper-based processes and undefined workflows across departments,” he explains. “To address this, we have been identifying three key processes each year and automating them as much as possible to establish structured workflows. This approach is helping to reduce bottlenecks, provide visibility into task ownership, and enhance overall efficiency. Additionally, by minimising paper usage, we are contributing to environmental sustainability. This progress motivates me to drive the transformation of the bank from a traditional institution to a fully digital one.”
Family man
While Manav’s professional focus is on automation and digital transformation, his personal life provides a different kind of balance. Every few weeks, he travels to Kenya to spend time with his family. One of his greatest joys is taking his daughter, a talented young golfer, to the course.
“I really love taking my daughter to the golf course,” he shares. “She’s 10 years old and plays exceptionally well. She’s a great golfer, and I’m happy to take her to the course and be her caddy,” he says. “I’m not sure how she got into golf, but I genuinely relish spending time with her on the course. Regardless of the challenges I encounter at work, they seem less formidable when I am in her presence.”
