Nigeria-based fintech infrastructure provider Qore Technologies has expanded into Ethiopia, promising to give local banks, micro-finance institutions, and fintech start-ups the same cloud-native core-banking stack that now powers hundreds of African financial players. The fifteen-year-old company announced its plans at a ceremony attended by several bank executives at the Hyatt Regency Hotel late last week.
Qore’s flagship product, BankOne, already supports more than 500 financial institutions across seven African markets, including 19 commercial banks and north of 450 micro-finance banks and fintechs. Its clientele includes prominent institutions like Zenith Bank, Access Bank, and the United Bank for Africa.
Martin Muchine, Vice President of International Expansion at Qore, says their market entry strategy entails deploying technology first and then receiving feedback to fine-tune their offering. He indicated plans to form long-term partnerships that leverage Qore’s technology expertise and insights from financial institutions.
“We have one of the nimblest offerings in the market,” Martin told Shega.
Unlike traditional on-premises cores that demand large upfront licences and in-house IT teams, Qore offers a multi-tenant, Azure-hosted service that can go live in as little as 12 weeks. The shared model lowers the total cost of ownership and lets even small MFIs access tier-one functionality.
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