10x Banking and HassemPrag Partner to Drive Core Banking Modernisation Across Africa

Why It Matters

By de‑risking core modernization, the alliance accelerates digital transformation across Africa’s banking sector, unlocking new revenue streams and enhancing customer experience in a rapidly competitive market.

Key Takeaways

• Legacy core systems hinder African banks' agility.
• 10x provides cloud‑native, modular banking platform.
• HassemPrag adds regional integration expertise.
• Banks can launch products in months, not years.
• Market size projected $2.2B by 2030.

Pulse Analysis

African banks are at a crossroads, grappling with stricter regulatory frameworks, aggressive fintech entrants, and the escalating expense of maintaining outdated core systems. These pressures have spurred a surge in core‑infrastructure investment, with analysts forecasting the Middle East and Africa core banking software market to hit $2.2 billion by 2030. In this environment, institutions need a solution that balances speed, cost, and risk, making the timing of the 10x‑HassemPrag partnership especially pertinent.

The collaboration leverages 10x Banking’s cloud‑native, micro‑services architecture, which delivers scalability and resilience while eliminating the need for massive on‑premise overhauls. HassemPrag contributes deep regional knowledge and integration capabilities, ensuring that the platform aligns with local compliance requirements and legacy data migrations. Together they offer a modular, incremental upgrade path that sidesteps the traditional "rip‑and‑replace" approach, reducing downtime and operational disruption for banks across the continent.

For banks, the benefits translate into tangible business outcomes: new digital products can move from concept to market in months rather than years, and real‑time data analytics enable highly personalised customer experiences. Existing clients such as Old Mutual’s OM Bank illustrate the scalability of the solution, positioning it as a catalyst for broader digital inclusion. As African economies continue to digitise, the 10x‑HassemPrag alliance is poised to become a cornerstone of the region’s financial technology ecosystem, driving growth and competitive advantage for early adopters.