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Interswitch Group and global banking technology provider Temenos have deepened their engagement with the Central Bank of Nigeria (CBN) as part of ongoing efforts to support the modernisation of Nigeria’s banking sector and accelerate digital transformation across Africa’s financial services industry.
The engagement follows the strategic partnership announced by both companies in June 2026, under which Interswitch will deploy Temenos’ banking technology solutions to financial institutions across the continent.
Strategic meeting focuses on banking innovation
The high-level meeting, held at the CBN headquarters in Abuja last week, brought together executives from Interswitch, Temenos and the apex bank to explore opportunities for advancing digital banking infrastructure and strengthening collaboration on financial sector innovation.
The delegation was led by Interswitch Founder and Group Chief Executive Officer, Mitchell Elegbe, alongside Temenos’ Managing Director for the Middle East and Africa, Santhosh Rao.
According to the companies, the engagement forms part of broader efforts to work closely with central banks and financial regulators across Africa in driving banking modernisation, regulatory innovation and resilient financial infrastructure.
Partnership to support digital banking transformation
Through their strategic alliance, Interswitch will deploy Temenos’ technology platforms covering core banking, digital banking, payments, wealth management and financial crime prevention solutions.
The partnership will enable banks and other financial institutions to access both cloud-based and on-premises managed services designed to modernise legacy banking systems, improve operational efficiency and deliver more customer-centric financial services.
The rollout is expected to serve institutions across key African markets, including Nigeria, Ghana, Côte d’Ivoire and Kenya.
By combining advanced banking technology with robust compliance management capabilities, the collaboration is expected to help financial institutions strengthen regulatory compliance, improve risk management and accelerate digital transformation initiatives.
Discussions include CBDC innovation
During the engagement with the CBN, discussions centred on how the partnership could contribute to the modernisation of Nigeria’s core banking infrastructure.
The parties also explored opportunities to collaborate on Central Bank Digital Currency (CBDC) innovation, including the development of resilient financial networks and decentralised application platforms capable of supporting the issuance, distribution and management of digital currencies.
The discussions underscore the growing importance of regulatory technology solutions, secure digital infrastructure and innovation in shaping the future of financial services across Africa.
Commitment to resilient financial infrastructure
Commenting on the engagement, Founder and Group Chief Executive Officer of Interswitch, Mitchell Elegbe, said the collaboration reflects a shared commitment to building a modern, resilient and inclusive banking ecosystem capable of supporting Africa’s next phase of financial sector growth.
He noted that continued engagement with the Central Bank of Nigeria and the partnership with Temenos position both organisations to contribute meaningfully to the evolution of digital banking technology and financial innovation across the continent.
The companies added that the visit reinforces their long-term commitment to supporting regulators and financial institutions as they adopt emerging technologies, strengthen regulatory compliance frameworks and modernise banking operations.
As African financial institutions continue to embrace digital transformation, collaborations between technology providers, regulators and financial institutions are expected to play an increasingly important role in enhancing compliance management, financial crime prevention, operational resilience and sustainable growth across the region’s financial ecosystem.
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