HassemPrag, a top African digital banking and orchestration platform, and 10x Banking announced a strategic alliance. Through the partnership, HassemPrag’s integration expertise and local knowledge will work with 10x Banking’s core banking platform to deliver a complete banking solution that replaces outdated core banking technology.
- HassemPrag, a top African digital banking and orchestration platform, and 10x Banking announced a strategic alliance.
- Through the partnership, HassemPrag’s integration expertise and local knowledge will work with 10x Banking’s core banking platform to deliver a...
- Investments in core banking software are rising throughout the region; by 2030, the Middle East and Africa market is expected...
- Banks need a de-risked path to transformation, and a partner that truly understands the market they operate in.
Keep reading for the full breakdown on 10x Banking — everything you need to know is covered below.
The collaboration helps African banks modernise safely and accelerate and scale their new product launches.
African banks face several challenges, including evolving regional regulations, increased competition from fintech companies, and the high cost of maintaining legacy systems.
Investments in core banking software are rising throughout the region; by 2030, the Middle East and Africa market is expected to reach US$2.2 billion.
To overcome these obstacles, the 10x-HassemPrag collaboration offers cloud-native infrastructure that lowers operating costs and enables banks to introduce new products in as little as a few months.
Jayesh Prag, CEO, HassemPrag, stated, “Across Africa, the perceived risk of change has held banks back from much-needed core modernisation. Our partnership with 10x Banking changes the equation by providing a unified digital banking platform that’s fast to deploy and proven at massive scale.
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.”
Partnership leverages 10x Banking’s cloud-native technology
The collaboration leverages 10x Banking’s cloud-native technology, trusted by organisations such as Chase UK and Old Mutual (OM Bank), to deliver scalable, fast banking services.
The unified platform enables real-time processing for immediate payments and better customer engagement when paired with HassemPrag’s integration and regional expertise.
Because of the platform’s modular architecture, banks can make incremental upgrades without risking a complete replacement of their current systems. This reduces uncertainty associated with core banking changes.
Antony Jenkins, Founder & CEO, 10x Banking, said, “This partnership is about giving African banks the ability to modernise at full speed without the risks, high costs and downtime that normally come with full-scale transformation. We’re enabling institutions to move away from legacy constraints and build smarter, more inclusive propositions for their customers. With access to this technology, more banks can launch new digital services in weeks rather than years, reduce complexity, and unlock a wave of growth in some of the world’s most dynamic markets.”
By providing institutions with the resources and expertise they need to thrive in a digital financial environment, the 10x-HassemPrag partnership is a major step toward accelerating banking innovation and modernisation across Africa.