In an effort to expand its presence in Africa, global smart banking technology company Techurate Systems Private Limited has recently signed a $15 Mn joint venture with a local financial services conglomerate.
Further, in order to fuel its expansion, the company will look to hire professionals this fiscal year.
Sharing his views, Harshvardhan Pusala, Founder and Managing Director of Techurate Systems Private Limited, said, “Techurate is leveraging its product platform strength and entering specific African Markets on a JV route to be the sole Digital Transformation partner to the financial services groups. This will allow us to leapfrog into the 100-crore-plus league infusing a quantum growth on the top line. In India, Techurate will be a dominant player offering Bank in Box services to small, medium banks, and Microfinance companies. Techurate’s one of its kind integrated, core + digital platform as a single stop solution to thousands of such Institutions.”
“Techurate aspires to bring innovation, transformation, and a truly smart banking experience to every bank in the world. We strive to build transformative banking innovations, enable business development, grow a diverse global team, and make a positive impact in the communities that matter,” added Harshvardhan Pusala.
Ideally placed to meet the needs of this eager market, the deal is too good to miss because these companies cost the banks almost no capital investment and just charge a user fee per subscriber.
This occurs at a time when diverse service organisations are searching for internal partners for digital transformation, integrating the services model.
The business has made ground-breaking strides in the fintech revolution and aims to ‘digitally transform’ global communities toward delivery methods for financial inclusion that are exponentially improved.
Since its launch, Techurate’s team has dedicated itself to creating financial products tailored specifically for Africans. The company’s products have let millions of clients access essential banking and financial services online and via mobile devices.
Created by technological improvements and increasing connectivity, young people on the African continent can touch and learn a variety of technologies that one would attribute to those on other continents much more easily.
However, due to the continent’s constraints, it is necessary to develop solutions that are specific to how people conduct business, particularly with regard to payment methods.
The company offers highly customised digital banking technology solutions that consistently increase agility, generate quantifiable business value, and enhance customer experience.
With its complete product suite for Core Banking + Digital Banking, Techurate has established itself as an independent service provider, hosting all willing banks on a digital platform.
Africa is the world’s greatest open market, which the global financial system has lost track of. According to some estimates, 330 Mn adult Africans lack access to formal financial services, which offers significant opportunities for financial technology companies who are ready to take them on.
Currently, Africa is experiencing a significant increase in mobile remittance, with Kenyans using mobile money services for more than eight years.