Pan African fintech software provider group, Appzone has carved out its Banking-as-a-Service (BaaS) platform from the existing business into a new entity named Qore, to better digitise banks across Africa, and facilitate the emergence of a fully automated and connected financial ecosystem.
Formerly a collection of four distinct business divisions, the company said is driving exponential growth of fully digital offerings for the continent’s financial institutions, where some of the leading commercial Banks, fintechs and Neobanks, are able to leverage for delivery of innovative niche products.
Appzone becomes Africa’s first Layer-1 Blockchain infrastructure and protocol with a focus on enabling payments and acceptance of digital currencies.
The Qore Co-founder/CEO, Emeka Emetarom, during press conferene held in Lagos, said the company will continue to empower financial institutions in Africa to become the best performing and most innovative in the world.
“As a revolutionary banking innovator, Qore is enabling significant progress for a new era of fully digital Banks in Africa. Over the last decade, we have played a remarkable and active role in driving the digitization of Nigeria and Africa’s financial services ecosystem.
“We are excited about what the future holds for us and for digital banking in Africa, especially since we will now operate as a BaaS focused business entity going forward.
Qore’s unique advantages are market fit and cost-effectiveness, which allow financial institutions to deliver highly relevant products at a fraction of cost. We are also leveraging the platform’s numerous integrations with mainstream payment systems to achieve instant interoperability with other industry players at no extra cost.”
In the case of fiat payments, Zone connects some of Africa’s most prominent banks and fintechs within and across countries and utilises a native stable coin to provide real-time settlement for cross-border transactions.
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