Techurate Signs JV agreement worth 15 million USD in Africa, Leverages growth in Africa through a Localization Partnership Model
Bengaluru (Karnataka) [India]: Techurate Systems Private Limited is entrenching deeper in Africa via the local partnership route. It has signed a JV worth 15 million USD with a financial Services conglomerate in Africa. This comes at a time when diversified services groups are looking at In-house Digital Transformation partners, consolidating the services model. Techurate Systems Pvt. Ltd, a Global Smart Banking technology company has embarked on an expansion drive. The company will look to hire professionals in the current financial year to drive its expansion.
Commenting on the same Harshvardhan Pusala, Founder & Managing Director, Techurate Systems Private Limited said “Techurate is leveraging its product platform strength and entering specific African Markets on a JV route to be the sole Digital Transformation partner to the financial services groups. This will allow us to leapfrog into the 100-crore-plus league infusing a quantum growth on the top line. In India, Techurate will be a dominant player offering Bank in Box services to small, medium banks, and Microfinance companies. Techurate’s one of its kind integrated, core + digital platform as a single stop solution to thousands of such Institutions.”
The largest untapped market that the international financial system has lost track of is the continent of Africa. There are 330 million adult Africans, according to some estimates, who do not have access to formal financial services, which presents enormous prospects for financial technology companies that are willing to take them on. Remittance via mobile has picked up at a rapid pace in Africa, with Kenyans using mobile money services for over eight years already.
Since its inception, Techurate products have touched millions of customers around the globe in accessing basic banking and financial services through mobile & internet channels. The company has made pioneering inroads in the fintech revolution and aspires to ‘digitally transform’ world communities towards exponentially enhanced financial inclusion delivery models.
The young people of the African continent can touch and master numerous technology that one would attribute much more easily to those on other continents thanks to technological advancements and increased connectedness. On the other hand, the limitations of the continent necessitate the creation of solutions that are tailored to how locals conduct business, particularly with regard to payment methods. This is how Africa, in just 5 years, rose to prominence as one of the financial industry’s most productive centers. The team at Techurate is developing financial products specially suited to the people of Africa.
Techurate has emerged as an independent service provider, hosting all willing banks with a digital platform and a solutions provider with an integrated product suite for Core banking + Digital Banking. Perfectly poised to serve this willing market. With virtually zero capital outlay to the banks, these companies charge them only a user fee per subscriber, making the proposition irresistible.
“Techurate aspires to bring innovation, transformation, and a truly smart banking experience to every bank in the world. We strive to build transformative banking innovations, enable business development, grow a diverse global team, and make a positive impact in the communities that matter” added Harshvardhan Pusala.
Techurate is a Global Smart Banking technology company with a fine blend of technology skills, strong domain knowledge, 500+ years of industry experience in IT. Techurate has worked in several highly under-banked nations and has successfully leveraged the power of Digital in bringing a vast audience into the organised banking fold. Headquartered in Bangalore, the company has served around 250+ Banks and Financial Institutions across 15+ geographies globally in a short span.
With its flagship products and services the company has scripted several success stories in emerging markets like Zambia, Zimbabwe, Cameroon, Botswana, that its looking to repeat in Latin America and India.
Techurate provides highly customised Digital Banking Technology Solutions for Banks and Financial Institutions that systematically deliver greater agility, measurable business value and enhanced customer experience.
For further information visit the website http://www.techurate.com