10x Banking has partnered with HassemPrag to deliver cloud-native core banking infrastructure across Africa.
Following this announcement, 10x Banking has entered a strategic partnership with HassemPrag in order to provide cloud-native core banking infrastructure to financial institutions across Africa.
The collaboration will combine the UK-based 10x Banking's core banking platform with South Africa-based HassemPrag's digital banking capabilities and regional knowledge. With this initiative, the companies aim to offer African banks an alternative to legacy core banking technology through a modular deployment approach.
Market context and infrastructure modernisation
According to the official press release, financial institutions and banks across Africa are managing regulatory changes, competition from fintech providers, and the operational costs associated with legacy systems. At the same time, the core banking software market in the Middle East and Africa is projected to reach USD 2.2 billion in revenue by 2030.
The unified platform will allow banks to deploy new products through cloud-native infrastructure designed to reduce operational overhead. Moreover, the modular architecture is intended to enable incremental upgrades without requiring to complete replacement of existing core systems.
Platform capabilities and deployment model
The combined offering will support real-time processing for instant payments and customer engagement functions, as the partnership positions the platform as a method for banks to launch digital services while maintaining existing operations during transition periods.
The solution is designed to address the technical and operational challenges associated with traditional core banking transformation projects, which typically involve extended timelines and implementation risk. Through this initiative, financial institutions using the platform will have access to integration capabilities and regional support through HassemPrag, alongside 10x Banking's core infrastructure technology.
The partnership represents a market entry strategy for 10x Banking in the African banking sector, where demand for core system modernisation continues to grow alongside digital banking adoption. Both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
