Interswitch Partners With Temenos to Scale Digital Banking Across Africa
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Interswitch Group, one of Africa's leading integrated payments and digital commerce companies, has announced a collaboration with Temenos, a global leader in banking technology. Under this partnership, Interswitch will adopt Temenos technology to enhance its digital banking capabilities, supporting its growth and expanding access to modern financial services across the continent.
Interswitch will use Temenos solutions across core banking, digital banking, payments, wealth management, and financial crime prevention to provide cloud-hosted and on-premises managed services to banks and financial institutions across Africa. This will enable institutions to progressively transform their banking platforms and evolve to more customer-centric business models, initially supporting key African markets including Nigeria, Ghana, Côte d'Ivoire, Kenya, and others.
Jonah Adams, Managing Director for Digital Infrastructure & Managed Services at Interswitch, stated that adopting Temenos' cloud-native, composable platform gives Interswitch the flexibility and scalability to accelerate its next phase of growth. He emphasized this is a pivotal moment as Interswitch accelerates expansion beyond payments and reimagine digital banking for Africa, introducing a highly configurable banking platform leveraging latest cloud technologies into their technology stack.
William Moroney, Chief Revenue Officer at Temenos, commented that Interswitch is an important new customer and partner for Temenos in Africa. The collaboration underscores the adaptability of Temenos' platform to power innovative banking services tailored to African markets, while Interswitch's strong presence across the continent extends Temenos' reach and strengthens their ecosystem and partner network.
Widely known for its Quickteller and Verve brands, Interswitch operates in 32 African countries, supporting more than 300 financial institutions. Through Quickteller, its digital payments and services platform, Interswitch has played a significant role in shaping consumer and merchant payments across the continent.
Verve International, a domestic payment cards and tokens scheme and subsidiary of Interswitch, recently surpassed 100 million payment cards issued. The business continues to drive innovation in tokenization, reinforcing its position as one of Nigeria's most widely used payment cards and token platforms.
Founded in 2002, Interswitch disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services. Today, Interswitch is a leading player with critical mass in Nigeria's developing financial ecosystem and provides a full suite of omni-channel payment solutions across the payments value chain.
Interswitch's vision is to make payments a seamless part of everyday life in Africa, and its mission is to create transaction solutions that enable individuals and communities to prosper across Africa. The company's broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem.
