Appzone, the Pan African fintech software provider group, has announced that it is carving out its Banking-as-a-Service (BaaS) platform from the existing business into a new business entity, Qore, to better digitize banks across Africa, and facilitate the emergence of a fully automated and connected financial ecosystem.
Formerly a collection of four distinct business divisions, the company is driving exponential growth of fully digital offerings for the continent’s Financial Institutions.
The Qore Co-founder/CEO, Emeka Emetarom, during a press conference in Lagos, said the company will continue to empower financial institutions in Africa to become the best performing and most innovative in the world.
“As a revolutionary banking innovator, Qore is enabling significant progress for a new era of fully digital Banks in Africa. Over the last decade, we have played a remarkable and active role in driving the digitization of Nigeria and Africa’s financial services ecosystem.
“We are excited about what the future holds for us and for digital banking in Africa, especially since we will now operate as a BaaS focused business entity going forward.
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“Qore’s unique advantages are market fit and cost-effectiveness which allow financial institutions to deliver highly relevant products at a fraction of cost. We are also leveraging the platform’s numerous integrations with mainstream payment systems to achieve instant interoperability with other industry players at no extra cost” Emeka added.
Speaking about how the company is delivering value for the diverse scale of financial institutions in Africa, Co-founder/COO, Qore, Mudiaga Umukoro, said Qore has built the only truly African cloud-native core banking and integrated channel solution, tailored specifically to the African market.
“We understand the realities of the African financial ecosystem, alongside the limitations that are preventing financial products in Africa from reaching their full potential and solving once and for all, the age-old Financial Inclusion challenge. This is why Qore is refocusing its efforts towards powering effortless and limitless banking across the continent Says Mudiaga.
“Having completely digitized and automated the operations and products of almost 500 Financial Institutions on the continent, we are ready to take on the rest of Africa” Mudiaga added.