The Appzone Group brings together the technology to digitize banks across Africa. | Tech Cabal

The Appzone Group brings together the technology to digitize banks across Africa. | Tech Cabal

Qore’s banking-as-a-service platform is executing a blueprint for the future of digital banking in Africa.

Appzone, a pan-African fintech software provider group, has announced that it is in the process of transforming its banking platform as a service (BaaS) from the existing business into a new commercial entity (named Qore), to better digitize banks across Africa, and facilitate the emergence of a fully automated financial system. and connected.

Formerly a group of four distinct business divisions, the company is driving the exponential growth of all-digital offerings for financial institutions on the continent. Some of the leading commercial banks, Fintechs and Neobanks, are able to leverage their platform to offer innovative niche products.

Qore Co-Founder/CEO, Emeka Emetarom, said during a recent press conference in Lagos that the company will continue to enable financial institutions in Africa to become the best performing and most innovative in the world.

As a revolutionary innovator in the field of banking, Qore has enabled a breakthrough for a new era of fully digital banking in Africa. Over the past decade, we have played an impressive and active role in driving the digital transformation of Nigeria and the financial services ecosystem in Africa.

We are excited about what the future holds for us and digital banking in Africa, especially as we will now operate as a BaaS-focused business entity in the future.

Qore’s unique advantages are market fit and cost effectiveness allowing financial institutions to offer highly relevant products at a fraction of the cost. We also leverage the platform’s many integrations with mainstream payment systems to achieve instant interoperability with other industry players at no additional cost.Added, “Emeka.

Speaking on how the company delivers value to the diverse range of financial institutions in Africa, Co-Founder/COO, Qore, Mudiaga Umukoro said that Qore has built Africa’s only cloud-based core banking and end-to-end channel solutions, tailored for the African market.

We understand the realities of the African financial system, along with the limitations that prevent financial products in Africa from reaching their full potential and solving the age-old financial inclusion challenge once and for all. This is why Qore is refocusing its efforts towards operating easy and unlimited banking services across the continent. Mudiaga says


Having digitized and fully automated the operations and products of nearly 500 financial institutions on the continent, we are ready to take on the rest of Africa.Mudiaga added.

In the past five years, Africa’s financial sector has aggressively embraced digital banking, with more individuals and institutions bypassing physical structures, paper trails, and physical cash in favor of self-service offerings on digital devices. Currently, competitor and conventional banks in Africa are limited to using foreign technology solutions tailored for Western markets, and many of these solutions are hampered by exorbitant pricing, poor market fit, and lack of local technology support.

With operations in Nigeria and Kenya, and clients across the continent including Ghana, Gambia, Democratic Republic of the Congo, Equatorial Guinea, Tanzania and Senegal, Qore supports the digital transformation efforts of traditional banks, many of which are still stuck in legacy systems that limit their ability to compete effectively.

Since investing in Appzone, it’s been great to witness the business growth and transformation that has now spawned Qore. We’re even more excited to get 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 achieve its bold vision of setting the course to provide seamless and unlimited banking services to all parts of Africasaid Yomi Jembion, Partner and Managing Director of CardinalStone Capital Advisers Limited.

Qore also operates a multi-channel self-service platform, USSD interfaces, payment system integration, merchant services capabilities, and instant card issuance. In addition, the platform provides customers with modules that enable the automation of mass lending, direct debit collection from multiple accounts, and agent banking. These jobs are available to fintech companies such as digital lenders and new banks, as well as to traditional banks such as commercial banks, microfinance institutions, mortgage banks, and consumer lenders.

The platform also takes advantage of ease of customization and availability of local support to seamlessly fill the needs of African banks and FinTechs.

Over the past decade, Qore’s notable impact on the Nigerian and African financial services ecosystem has earned the company recognition as a de facto banking technology provider in the OFI sector, and Africa’s first and only as a service (BaaS) program.

Other notable achievements of the company include building Africa’s first cloud-based digital core banking and omnichannel platform, launching Africa’s first self-service debit card issuance platform, and building the first and only correspondent banking automation platform with all Nigerian commercial banks integrated.

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