Interswitch Group and global banking technology company Temenos have deepened their collaboration as they work to help banks in Nigeria and other African markets upgrade their technology and provide customers with more efficient digital banking services.
The partnership brings together Interswitch’s expertise in digital payments and commerce with Temenos’ banking technology, covering areas such as core banking, digital banking, payments, wealth management and financial crime management.
For customers, the importance of the development lies in what better banking infrastructure can mean in everyday life. As more Nigerians transfer money, pay bills and manage their finances through digital channels, banks need systems that can process transactions reliably while keeping pace with changing customer expectations.
Brandspur Banking News Desk reports that the two companies announced their strategic partnership in June, with plans to provide cloud-hosted and on-premises managed services to banks and other financial institutions across Africa.
The initial markets include Nigeria, Ghana, Côte d’Ivoire and Kenya. Through the partnership, financial institutions will be able to gradually modernise their core banking platforms rather than relying on older systems that may struggle to meet the demands of increasingly digital customers.
That transition is becoming more important as banking moves further away from the traditional branch model. A customer who once had to visit a bank to complete a transaction can now expect to carry out much of their banking from a mobile phone. When those services work smoothly, the difference is immediate. When they fail, the disruption can affect individuals, businesses and entire payment chains.
Interswitch and Temenos are therefore positioning their technology partnership around a broader transformation of how financial institutions operate and serve their customers.
The companies’ combined solutions are expected to help banks improve their digital capabilities while supporting areas that are critical to modern financial operations, including payments, customer services, wealth management and measures designed to combat financial crime.
Interswitch Founder and Group Chief Executive Officer, Mitchell Elegbe, said the partnership reflects a shared commitment to developing banking infrastructure that is resilient, inclusive and capable of supporting Africa’s next phase of financial growth.
The collaboration also comes as financial institutions across the continent face growing pressure to make banking more convenient, dependable and responsive. Customers increasingly want transactions completed quickly, services available around the clock and digital platforms that are simple enough to use without assistance.
For Nigerian banks, the partnership could provide another route towards meeting those expectations as they continue investing in technology and adapting to a financial environment increasingly shaped by digital payments.
With Nigeria, Ghana, Côte d’Ivoire, Kenya and other African markets forming part of the partnership’s scope, Interswitch and Temenos are seeking to make modern banking technology more accessible to institutions navigating the continent’s rapidly changing financial landscape.
