Appzone, the Pan-African fintech software provider building proprietary solutions for the continent’s banking and payments industries, has announced the Pan-African launch of BankOne, its digital core banking solution now re-engineered to serve the continent’s leading Fintechs, neobanks, and challenger banks.
BankOne’s relaunch follows Appzone’s Series A raise in April 2021, the largest locally-led raise in Nigeria which repositioned the organization to roll-out new innovative offerings that help financial institutions function in a fully digital and automated way. Having previously built out functionality to automate and run traditional Banking operations, Appzone is now deploying BankOne as a platform for technology-driven financial institutions intending to adopt a 360-degree digital approach that does not involve physical branches or human interaction.
Originally launched in 2011, BankOne is delivered and run by Appzone Core, a subsidiary of the Appzone Group. The platform played a significant role in the first digitization phase of Nigeria’s financial sector and came to further prominence and adoption as digital challengers and neo-banks began to emerge. As Africa rapidly accelerates towards a fully digital banking future, BankOne is being positioned to provide affordable and purpose-built digital infrastructure to enable this transition.
Speaking on the relaunch of BankOne, the CEO of Appzone Core, Mr. Mudiaga Umukoro said: “For over a decade, BankOne has played an active role in driving the digitization of Nigeria’s financial services industry. The platform has now been repositioned to serve the continent’s growing number of Fintechs and neobanks. BankOne’s major advantages are market fit and affordability which allow financial institutions deliver highly relevant products at a fraction of cost while leveraging our numerous integrations with mainstream payment systems to achieve instant interoperability with other industry players at no extra cost”
Buoyed by the economic and work-place realities emerging due to the Covid-19 pandemic, Africa’s financial sector has aggressively adopted digital banking, with more individuals and organizations bypassing physical structures, paper trails and physical cash in favor of self-service offerings on digital devices. As the continent’s traditional banking system continues to evolve, embracing new platforms, technologies, and architecture, technology-driven offerings from Fintechs on the continent will revolutionize customer experience, crash operating costs and accelerate financial inclusion.