10x Banking and HassemPrag Announce Strategic Partnership to Modernize African Banking
The partnership aims to help African banks modernize safely while accelerating the speed and scalability with which they can bring new products to market.
10x Banking announced a strategic partnership with HassemPrag, a leading African digital banking and orchestration platform. The collaboration 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 designed to replace legacy core banking technology. The partnership aims to help African banks modernize safely while accelerating the speed and scalability with which they can bring new products to market.
Banks across Africa are facing multiple pressures, including evolving local regulations, rising fintech competition, and the high cost of maintaining legacy systems. Core banking software investments are increasing across the region, with the Middle East & Africa market projected to reach US$2.2 billion by 2030.
The 10x-HassemPrag partnership seeks to address these challenges by providing cloud-native infrastructure that allows banks to launch new products within months while reducing operational overheads.
“Across Africa, the perceived risk of change has held banks back from much needed core modernization. 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, 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.”
– Jayesh Prag, CEO, HassemPrag
The partnership leverages 10x Banking’s cloud-native technology, trusted by institutions such as Old Mutual (OM Bank) and Chase UK, to deliver high-speed, scalable banking operations. Combined with HassemPrag’s regional expertise and integration capabilities, the unified platform enables real-time processing for instant payments and enhanced customer engagement.
The platform features a modular architecture, allowing banks to upgrade incrementally without a risky full “rip-and-replace” of existing systems. This reduces uncertainty typically associated with core banking transformations.
“This partnership is about giving African banks the ability to modernize 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.”
– Antony Jenkins, Founder & CEO, 10x Banking
The 10x-HassemPrag collaboration represents a significant step toward accelerating banking innovation and modernization across Africa, providing institutions with the tools and expertise needed to thrive in an increasingly digital financial landscape.
