10x Banking and HassemPrag Join Forces to Drive Next-Gen Banking Innovation Across Africa

10x Banking, the cloud-native core banking platform that powers customers including OM Bank, Chase UKand Westpac, today announced a strategic partnership with HassemPrag, a leading African digital banking and orchestration platform.  

The partnership will combine 10x Banking’s best-in-class core banking platform with HassemPrag’s integration capabilities and regional expertise to deliver a unified, complete banking solution to replace legacy core banking technology. This will enable African banks, to modernise without risk, and increase the speed and scalability with which they can bring new products to market.  

Banks across the African continent are facing a combination of pressures, with evolving local regulations, rising fintech competition, and spiralling costs of maintaining legacy technology. As such, core infrastructure investments are rising across the region, with the core banking software market in Middle East & Africa expected to reach a projected revenue of US$2.2 billion by 2030. 

The 10x Banking and HassemPrag proposition will help address these pain points by delivering 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’s cloud-native core banking technology is proven by trusted financial institutions, like Old Mutual (OM Bank) and Chase UK, to deliver at speed and massive scale. By combining this with HassemPrag’s deep regional expertise, excellence in integration, and flexible banking offering, financial institutions across Africa will benefit from real-time processing to support instant payments and dynamic customer engagement.    

The unified digital banking platform will feature a modular architecture, allowing banks to upgrade incrementally, without a risky “rip-and-replace” of their existing core, taking out the uncertainty that comes with traditional core banking transformations.   

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.”