Interswitch and Temenos pledge to modernize Nigeria's financial sector

Interswitch Group and global banking software provider Temenos have met with the Central Bank of Nigeria (CBN) to discuss the modernization of Nigeria's financial services sector. The discussions focused on a strategic partnership aimed at helping Nigerian financial institutions transition to more customer-centric business models by modernizing core banking platforms.

The collaboration also explored opportunities for innovation regarding Central Bank Digital Currency (CBDC), specifically focusing on leveraging decentralized application platforms and resilient financial networks to support the issuance and management of CBDCs.

Through their partnership, Interswitch intends to leverage Temenos solutions—including core banking, digital banking, payments, wealth management, and financial crime mitigation—to provide managed services to banks across Africa. The initiative is expected to support key markets including Nigeria, Ghana, Côte d’Ivoire, and Kenya.