Appzone, a fintech software provider Group, said, it is carving out its Banking-as-a-Service (BaaS) platform from the existing business into a new business entity (named Qore), to better digitise 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. Some of the leading commercial banks, Fintechs and Neobanks, are able to leverage its platform for delivery of innovative niche products.
The co-founder/CEO, Qore, Emeka Emetarom, at press conference held in Lagos, said the company will continue to empower financial institutions in Africa to become the best performing and most innovative in the world.
According to him, “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 digitisation of Nigeria and Africa’s financial services ecosystem.
Speaking on how the company is delivering value for the diverse scale of financial institutions in Africa, co-founder/COO, Qore, Mudiaga Umukoro, stated Qore has built African cloud-native core banking and integrated channel solution, tailored specifically to the African market.
He explained that, “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.”
Mudiaga added that, “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.”
Also, partner and managing director of CardinalStone Capital Advisers Limited, Yomi Jemibewon, added that “since investing in Appzone, it has been remarkable to witness the business growth and transformation that has now led to the emergence of Qore.
“We are even more excited to have a front seat at the table as Qore sets the course for redefining the future of digital banking across Africa. We are confident in the team’s ability to deliver on its audacious vision of setting the pathway for delivering effortless, limitless banking for all across Africa.”
Qore powers an omni-channel self-service platform, USSD interfaces, Payment ecosystem integrations, merchant services capabilities, and instant card issuance.
In addition, the platform provides clients with modules that enable end-to-end lending automation, direct debit collections from multiple accounts, and agent banking.
