By rssfeeds-admin 
10x Banking
The combined solution will offer African banks a way to modernise their banking systems. And bring new products to market rapidly on the flexible platform. African Banks face numerous challenges, from the more traditional challenges of currency fluctuations to the rapid digital transformation of business and consumer affairs across the continent.
Other challenges include evolving local regulations, rising fintech competition, and spiralling costs of maintaining legacy technology.
The combination of HassemPrag and 10x Banking provides a cloud-native, scalable, and flexible solution. It can meet today’s needs and evolve to meet future needs. Importantly, deployment can be achieved in months. Thus, giving African banks the speed of implementation they need to keep pace with new challengers.
Importantly, banks can take a modular approach to any digital transformation. It de-risks transformation, often associated with the big-bang approach of wholesale replacement or upgrade.
Driving change in Africa
The 10x Banking and HassemPrag proposition will help address these pain points by delivering a cloud-native infrastructure that enables the deployment of new products in months with lower operational overheads.
Jayesh Prag, CEO, HassemPrag, said, “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 Banking, 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 is already used by OM Bank, Old Mutual’s digital bank in South Africa. 10x Banking helped Old Mutual build the digital bank that launched in 2025. Other significant banking customers include Chase UK and WestPac.
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.”
Enterprise Times: What does this mean
This is a huge opportunity for 10x Banking as it looks to expand its footprint into Africa. The core banking market in the Middle East and Africa is estimated to reach US$ 2,175.3 million in revenues by 2030. This will be at a compound annual growth rate of 11.1%, according to Grand View Horizon.
The key to moving forward will be a customer case study that demonstrates both technologies in use. As with other partnerships, the first and easiest step is the technology integration. Followed by the joint sales and marketing initiatives. It will be interesting to hear about progress on both of these initiatives.
For African Banks the partnership offers a degree of trust that they will understand the localisation requirements as well as meet the technology requirements for the age of mobile banking and AI.
The post 10x Banking partners with HassemPrag to solve African Banks Challenges appeared first on Enterprise Times.
Discover more from RSS Feeds Cloud
Subscribe to get the latest posts sent to your email.