Nigeria’s financial technology industry is taking another major step toward modern banking as Interswitch Group and global banking software company Temenos deepen their partnership with the Central Bank of Nigeria (CBN) to improve the country’s financial services.
The meeting, which took place at the CBN headquarters in Abuja, followed the strategic partnership announced by both companies in June 2026. Their goal is to provide advanced banking technology that will help financial institutions modernise their operations and deliver better services to customers.
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. During the discussions, both companies shared their vision of building stronger digital banking systems that can meet the growing demands of businesses and consumers across Africa.
As part of the partnership, Interswitch will deploy Temenos’ banking software to banks and other financial institutions in several African countries, including Nigeria, Ghana, Côte d’Ivoire and Kenya. The technology will cover core banking operations, digital banking, payment services, wealth management and financial crime prevention.
The companies explained that the solutions will be available through both cloud-based and on-premises platforms, giving financial institutions the flexibility to choose the model that best suits their operations.
A key focus of the meeting with the CBN was how Nigerian banks can upgrade their existing banking platforms to become faster, more secure and more customer-friendly. The discussions also explored future collaboration on Central Bank Digital Currency (CBDC) innovation and the use of advanced digital infrastructure to support secure digital currency transactions.
According to the companies, stronger banking technology will improve efficiency, reduce operational risks and help financial institutions introduce new digital products more quickly.
Speaking after the meeting, Mitchell Elegbe said the collaboration demonstrates a shared commitment to building a modern financial system that supports innovation, inclusion and long-term economic growth.
He noted that Africa’s banking industry is evolving rapidly, making it important for financial institutions to invest in reliable technology that can keep pace with changing customer expectations.
Elegbe added that working closely with regulators such as the Central Bank of Nigeria will help ensure that digital transformation happens in a safe and sustainable manner while strengthening confidence in the financial system.
Temenos also reaffirmed its commitment to supporting African banks through innovative banking solutions that improve customer experience, strengthen security and simplify banking operations.
Industry observers believe the partnership could accelerate the digital transformation of Africa’s banking sector by helping financial institutions replace ageing systems with more efficient technology. This could also encourage greater financial inclusion by expanding access to modern banking services for individuals and businesses.
The engagement between Interswitch, Temenos and the Central Bank of Nigeria highlights the increasing cooperation between regulators and technology providers in shaping the future of financial services.
As digital banking continues to expand across the continent, partnerships such as this are expected to play a vital role in improving banking efficiency, supporting innovation and strengthening Africa’s rapidly growing digital economy.
