DigiBank NewsBytes

CR2 announces continued expansion across Middle East and Africa

CR2 announces continued expansion across MEA with the addition of two new customer signatures – Arab International Bank (AIB) in Egypt and Unity Bank in Nigeria. This announcement builds on the continued growth of the past year.

November 15, 2023

CR2 empowers banks to deliver on the potential of digital banking and payment solutions for both consumers and SME/Business banking customers. The platform drives significant customer innovation as it integrates with any core banking platform seamlessly. Once implemented, the platform frees banks from expensive and time-intensive changes to their core banking stack. CR2 provides all the building blocks to launch products, services, and enhanced customer experiences from one platform across all channels.

Fintan Byrne, CEO of CR2, commented, “We are delighted to be chosen by two progressive banks in Africa and the Middle East. The MEA market is exciting at present. Banks continue to respond to increased competition from both within and outside of the banking sector. At CR2, we believe there are excellent opportunities for banks to innovate and take leadership positions in both consumer and business banking markets through innovative digital banking and payment solutions. In addition, population growth, together with increases in digital adoption and mobile phone penetration, will continue to create opportunities for rapid growth within our existing and new banking partners”.

CR2’s innovative digital banking and payments platform is unique in several ways:

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- Breadth of Channels – the platform supports the largest channel selection, from innovative digital wallet solutions to more established USSD, self-service, and internet solutions. This provides banks with strategic channel choice depending on the needs of the customer at any point in their lifecycle, technology choice and helps banks differentiate and optimize at the same time.
- Native Payment Capability – reduces complexity and number of partners needed in the bank’s ecosystem to deliver innovative services to customers.
- Local implementation excellence – innovation delivers value through successful implementation. CR2 combines global innovation with local market and regulatory knowledge through years of successful delivery with excellent reference customers.

The business continues to invest in innovation, including the successful launch of a Digital Wallet solution last year. This payment account, delivered on mobile is an easy-to-deploy proposition for banks to drive customer recruitment at scale, as well as the ability to pay via card or pay from account solutions.

Kieran Kilcullen, Chief Commercial Officer, CR2 commented, “We continue to build on our track record, with successful implementations that deliver real value. Innovation that caters to the market needs is crucial, for example, our Digital Wallet proposition enables banks to deploy without costly changes to core banking systems. It provides a powerful solution that can be scaled, where consumers benefit from reliable, secure, and convenient 24/7 banking and payments. These new bank signatures are part of a strong 12 months for CR2, with new business in markets as diverse as Uganda, Eswatini, Mauritius, Iraq, Nigeria and Ethiopia, further demonstrating the power of our proposition and our reputation for successful delivery.”