Service Management

Unified platform may accelerate product launches for African banks

Unified platform may accelerate product launches for African banks

Cloud-native banking platform 10x Banking has announced a strategic partnership with HassemPrag, a leading African digital banking and orchestration platform, targeting African banks.

The partnership will combine 10x Banking’s core banking platform with HassemPrag’s integration capabilities and regional expertise to deliver a unified, complete banking solution to replace legacy core banking technology.

This, the partners say, will enable African banks to modernise without risk, and increase the speed and scalability with which they can bring new products to market.

10x Banking explains that banks across the African continent are facing a combination of pressures, with evolving local regulations, rising fintech competition, and spiralling costs of maintaining legacy technology. Core infrastructure investments are rising across the region.

10x and HassemPrag claim that their proposition helps address these issues by delivering cloud-native infrastructure that enables the deployment of new products in months with lower operational overheads.

Jayesh Prag, CEO at HassemPrag, explins: “Banks need a de-risked path to transformation, and a partner that truly understands the market they operate in. Together with 10x, we’re going to offer that. In turn, African banks will now be able to slash the time to market for new products that improve how individuals and businesses across this high-growth region manage their money.”

10x Banking’s cloud-native core banking technology is proven by trusted financial institutions, like Old Mutual and Chase UK, to deliver at speed and massive scale. By combining this with HassemPrag’s deep regional expertise, excellence in integration, and flexible banking offering, says 10x, financial institutions across Africa will benefit from real-time processing to support instant payments and dynamic customer engagement.

The unified digital banking platform will feature a modular architecture, allowing banks to upgrade incrementally, without a risky ‘rip-and-replace’ of their existing core, taking out the uncertainty that comes with traditional core banking transformations.

With access to this technology, say 10x and HassemPrag, more banks can launch new digital services in weeks rather than years, reduce complexity, and unlock a wave of growth.



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