Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, andTemenos (SIX: TEMN), a global leader in banking technology, have announced a collaboration, wherein 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 – 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 platform and evolve to more customer-centric business models. The service will initially support key African markets including Nigeria, Ghana, Côte d’Ivoire, Kenya and others.
Jonah Adams, Managing Director for Digital Infrastructure & Managed Services (Systegra) at Interswitch, said: “By adopting Temenos’ cloud-native, composable platform, Interswitch gains the flexibility and scalability to accelerate its next phase of growth and deliver banking services that meet the needs of African markets.
This is a pivotal moment for Interswitch as we accelerate our expansion beyond payments and reimagine digital banking for Africa.
Our partnership with Temenos is strategic in that it allows us to introduce a highly configurable banking platform that leverages the latest cloud technologies into our technology stack, delivers on this and brings an unmatched breadth and depth of capability to support our vision and scale our services across the continent”, he added.
William Moroney, Chief Revenue Officer, Temenos, commented: “Interswitch is an important new customer and partner for Temenos in Africa.
The collaboration underscores the adaptability of our platform to power innovative banking services tailored to the needs of African markets. Interswitch’s strong presence across the continent also extends our reach and further strengthens our ecosystem and partner network”, he said.
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 payment.
Verve International, a domesticated payment cards and tokens scheme and a 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.
