Close Menu
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact

Subscribe to Updates

Get the latest technology news from TechFinancials News about FinTech, Tech, Business, Telecoms and Connected Life.

What's Hot

Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025

2025-08-31

BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions

2025-08-31

SUI Price Prediction: Remittix Expected To Rise Over 4,000% This Year After Winning Top Crypto Presale Award

2025-08-31
Facebook X (Twitter) Instagram
Trending
  • Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025
Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp RSS
TechFinancials
  • Homepage
  • News
  • Cloud & AI
  • ECommerce
  • Entertainment
  • Finance
  • Opinion
  • Podcast
  • Contact
TechFinancials
Home»Boardroom Games»Barko To Launch A Digital Bank For Low-Income South Africans On The Temenos Banking Cloud
Boardroom Games

Barko To Launch A Digital Bank For Low-Income South Africans On The Temenos Banking Cloud

Staff WriterBy Staff Writer2021-10-27Updated:2021-10-28No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Email
Digital Bank
Digital Bank. Photo by Mikhail Nilov from Pexels
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Temenos, the banking software company, today announced that Barko, a microfinance company, plans to enter the retail banking market in South Africa with a new digital bank built on Temenos Transact and powered by The Temenos Banking Cloud. Barko will leverage the full front-to-back services, giving the new bank total control to create banking products that are easy to consume, configure and integrate with external applications.

With Temenos, Barko aims to disrupt the banking status quo with more accessible and affordable banking to advance the financial wellbeing of millions of South Africans underserved by traditional banks. Critically, the investment in Temenos’ open banking platform will enable Barko to launch new banking products, from deposit and savings accounts to credit and loans, at speed and at a low cost.

Barko has applied for a Mutual Banking License to operate as a full service digital bank. In line with its social mission, the new banking capabilities powered by Temenos will enable Barko to further assist underserved and unbanked South Africans with longer-term and lower-cost loans, competitive affordable banking products and easy to use services with a seamless experience across its digital and branch channels.

Barko already uses Temenos Infinity to deliver a seamless omnichannel lending experience with fast access to microfinance via a digital lending app and a network of more than 200 branches.

“We want to build a digital bank for the millions of South Africans that are unbanked or underserved by the traditional banks. The extended collaboration with Temenos is critical to our mission,” Kobus de Wet, CEO, Barko, said.

“With Temenos modern cloud banking platform we can bring new products to market faster and at a significantly lower cost compared to banks on traditional core banking system. Ultimately, this means we can pass on savings with products and services that improve the financial lives of the people that bank with us.”

More than 3,000 financial services institutions around the world rely on Temenos’ modern, open, cloud technology. The Temenos Banking Cloud enables banks and businesses to consume, manage and maintain banking services in a secure, continually evolving, self-service platform. Using open APIs, banks can also collaborate and extend banking services with other fintechs and developers.

“At Temenos we are passionate about transforming banking. Barko’s entry into the South Africa retail banking market represents a significant moment for customers and the industry,” Jean-Paul Mergeai, president – International Sales, Temenos, said.

“We’re pleased to work jointly with Barko to deliver the hyper-efficient cloud banking platform that will help it realize its ambitions of making financial services more affordable and accessible to all South Africans.”

Barko digital bank retail banking Temenos
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Staff Writer

Related Posts

SA’s Skhokho 2.0 Puts Enterprise AI In SME Hands

2025-08-28

DFA & Ciena Set 1.6 Tbps World Record On Single Wavelength

2025-08-27

Please Call Me: After 25 Years, Will SCA’s New Bench Silence ConCourt?

2025-08-26

Vodacom Invests R400M To Expand Network In Free State And Northern Cape

2025-08-26

How Will Spaza Market Benefit Users, Traders And SMEs?

2025-08-25

Elon Musk’s Starlink Backs BEE Equity Equivalents, Not 30% Ownership

2025-08-18

Weaver Fintech’s Finchoice & PayJustNow Add 110K+ Users Monthly

2025-08-12

Want To Supercharge Your Loyalty Programme? Forget More Points, Embrace More Play

2025-08-11

GoPrinter Review: Take Your Handheld Printing To The Next Level

2025-08-11
Leave A Reply Cancel Reply

DON'T MISS
Breaking News

BankservAfrica Rebrands As PayInc

The financial market infrastructure giant BankservAfrica has officially been rebranded to PayInc. The launch, held…

KZN’s First Supercar-Centric Luxury Residential Development Unveiled

2025-08-27

Government Pensions Administration Agency CEO Placed On Precautionary Suspension

2025-08-26

Airtel Africa & Vodacom Forge Landmark Infrastructure Partnership

2025-08-12
Stay In Touch
  • Facebook
  • Twitter
  • YouTube
  • LinkedIn
OUR PICKS

SA’s Skhokho 2.0 Puts Enterprise AI In SME Hands

2025-08-28

Please Call Me: After 25 Years, Will SCA’s New Bench Silence ConCourt?

2025-08-26

Vodacom Invests R400M To Expand Network In Free State And Northern Cape

2025-08-26

Elon Musk’s Starlink Backs BEE Equity Equivalents, Not 30% Ownership

2025-08-18

Subscribe to Updates

Get the latest tech news from TechFinancials about telecoms, fintech and connected life.

About Us

TechFinancials delivers in-depth analysis of tech, digital revolution, fintech, e-commerce, digital banking and breaking tech news.

Facebook X (Twitter) Instagram YouTube LinkedIn WhatsApp Reddit RSS
Our Picks

Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025

2025-08-31

BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions

2025-08-31

SUI Price Prediction: Remittix Expected To Rise Over 4,000% This Year After Winning Top Crypto Presale Award

2025-08-31
Recent Posts
  • Pepe Coin Price Forecasts; Floki Inu Latest News & Top Crypto Investment To Make In 2025
  • BNB Hits $900 In August As Analysts Give Their Latest Binance Coin Price Predictions
  • SUI Price Prediction: Remittix Expected To Rise Over 4,000% This Year After Winning Top Crypto Presale Award
  • Ethereum Price Heading Towards $4,000 As Crypto Markets Drop But This Altcoin Continues To Surge
  • XLM Price Prediction In September & Which Altcoins Could Rise Over 25x Next Month
TechFinancials
RSS Facebook X (Twitter) LinkedIn YouTube WhatsApp
  • Homepage
  • Newsletter
  • Contact
  • Advertise
  • Privacy Policy
  • About
© 2025 TechFinancials. Designed by TFS Media.

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.