Interswitch and Temenos Partner with CBN on Core Banking and CBDC Innovation
In a significant move to propel Nigeria’s digital banking revolution, Interswitch Group and global banking software leader Temenos reaffirm their commitment to advancing financial technology innovation in Nigeria and across Africa. A high-level delegation, led by Interswitch Group CEO Mitchell Elegbe and Temenos MEA Managing Director Santhosh Rao, recently explored new frontiers in core banking modernization, financial crime mitigation, and Central Bank Digital Currency (CBDC) innovation during a strategic visit to the Central Bank of Nigeria (CBN).
Interswitch, Africa’s foremost integrated digital payments and commerce company, alongside Temenos, announced their strategic partnership earlier this year. This collaboration aims to leverage Temenos’ cutting-edge solutions—spanning core banking, digital banking, payments, wealth management, and financial crime mitigation—to deliver cloud-hosted and managed services to banks and financial institutions across Africa. The initiative is designed to enable financial institutions to modernize their platforms and adopt more customer-centric business models, initially supporting key markets including Nigeria, Ghana, Côte d’Ivoire, and Kenya.
The recent visit to the CBN headquarters in Abuja underscores the ongoing efforts of both organizations to deepen collaboration with African regulators and financial institutions. Led by Mitchell Elegbe and Santhosh Rao, the engagement focused on how this partnership will facilitate Nigeria’s financial institutions in transitioning to more resilient, innovative banking infrastructures. Discussions also explored opportunities to collaboratively develop CBDC solutions, leveraging decentralized platforms to support Nigeria’s digital currency ambitions.
Commenting on the visit, Mitchell Elegbe, Founder and Group CEO of Interswitch, said:
“Our partnership as Interswitch with Temenos and our continued engagement with the Central Bank of Nigeria reflect a shared commitment to building banking infrastructure that is resilient, inclusive, and ready for the next phase of Africa’s financial evolution. We are proud to be at the table as these conversations shape the future of digital banking technology and innovation across key Africa markets…”
This strategic engagement highlights Interswitch and Temenos’ dedication to supporting African regulators and financial institutions in navigating the rapidly evolving digital finance landscape. It reaffirms their long-standing collaboration with the Central Bank of Nigeria, reinforcing their roles as catalysts for transformative financial innovation across the continent