[Column] Harish Chib: Seven best practices for securing the public cloud

The simplicity and cost-effectiveness of the public cloud have led more and more organizations to take advantage of Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). You can spin up a new instance in minutes, scale resources up and down whenever you need while only paying for what you use, and avoid high upfront hardware costs. 

While the public cloud solves many traditional IT resourcing challenges, it does introduce new headaches. The rapid growth of cloud usage has resulted in a fractured distribution of data, with workloads spread across disparate instances and, for some organizations, platforms. As a result, keeping track of the data, workloads, and architecture changes in those environments to keep everything secure is often a highly challenging task.

Public cloud providers are responsible for the security of the cloud (the physical datacenters, and the separation of customer environments and data). However, the responsibility for securing the workloads and data placed in the cloud lies firmly with the customer. Just as organisations need to secure the data stored in their on-premises networks, so they need to secure their cloud environment. Misunderstandings around this distribution of ownership is widespread and the resulting security gaps have made cloud-based workloads the new pot of gold for today’s savvy hackers. 

Seven Steps to Securing the Public Cloud

The secret to effective cybersecurity in the cloud is improving your overall security posture: ensuring your architecture is secure and configured correctly, that you have the necessary visibility into your architecture, and importantly, into who is accessing it.

Step 1: Learn your responsibilities

This may sound obvious, but security is handled a little differently in the cloud. Public cloud providers such as Amazon Web Services, Microsoft Azure, and Google Cloud Platform run a shared responsibility model – meaning they ensure the security of the cloud, while you are responsible for anything you place in the cloud.

Step 2: Plan for multi-cloud

Multi-cloud is no longer a nice-to-have strategy.  Rather, it’s become a must have strategy. There are many reasons why you may want to use multiple clouds, such as availability, improved agility, or functionality. When planning your security strategy start with the assumption that you’ll run multi-cloud – if not now, at some point in the future. In this way you can future-proof your approach.

Step 3: See everything

If you can’t see it, you can’t secure it. That’s why one of the biggest requirements to getting your security posture right is getting accurate visibility of all your cloud-based infrastructure, configuration settings, API calls, and user access.

Step 4: Integrate compliance into daily processes

The dynamic nature of the public cloud means that continuous monitoring is the only way to ensure compliance with many regulations. The best way to achieve this is to integrate compliance into daily activities, with real-time snapshots of your network topology and real-time alerts to any changes.

Step 5: Automate your security controls

Cybercriminals increasingly take advantage of automation in their attacks. Stay ahead of the hackers by automating your defenses, including remediation of vulnerabilities and anomaly reporting.

Step 6: Secure ALL your environments (including dev and QA)

You need a solution that can secure your all environments (production, development, and QA) both reactively and proactively

Step 7: Apply your on-premises security learnings

On-premises security is the result of decades of experience and research. Use firewalls and server protection to secure your cloud assets against infection and data loss, and keep your endpoint and email security up to date on your devices to prevent unauthorized access to cloud accounts.

Moving from traditional to cloud-based workloads offers huge opportunities for organizations of all sizes. Yet securing the public cloud is imperative if you are to protect your infrastructure and organization from cyberattacks. By following the seven steps you can maximize the security of your public clouds, while also simplifying management and compliance reporting.

Harish Chib is the Vice President, Middle East & Africa of Sophos.

[Column] Kree Govender: Why cloud hasn’t had a big impact on Business Intelligence

Although the notion of network-based computing stems right back to the 1960s, the modern term “cloud computing” arose in the 2000s. Yet, almost two decades later, South Africa still lags in both its adoption, and its use for critical functions like business intelligence (BI). 

While many believe that this is largely due to a lack of local data centre infrastructure, the landing of the Azure data centres in Africa will drastically change the Cloud landscape across the continent. “This effectively eradicates the fear of shifting massive datasets offshore to global data centres,” confirms Kree Govender, Managing Director of South Africa Qlik Master Reseller (SAQMR). 

The current hesitance towards Cloud adoption in Africa is illustrated by the Qlik implementations across the continent. Statistics show that as much as 95% of Qlik’s customers in Africa are on premise. 

“Gartner predicts that by 2025, 80 percent of enterprises will migrate entirely away from on-premises data centres with the current trend of moving workloads to colocation, hosting and the cloud leading them to shut down their traditional data centre,” adds Govender. “If these predictions prove accurate, the new data centres will mean there’s no longer anything holding Africa back from catching up with the rest of the world.” 

Adam Barrie-Smith, Chief Technology Officer at SAQMR, believes that the Qlik platform is perfectly positioned to capitalise on the benefits that these data centres will offer. “This will complement extensive mobile analysis testing using Qlik’s SaaS and Cloud business, leveraging Qlik Senses’ multi-Cloud capabilities. The first advantage is the data centre, the next will be the containerised cloud environment which is set to follow soon.”  

To Barrie-Smith, one of the greatest benefits of local data centres is enhanced identity management. “Let’s consider the impact on the banking industry, for example. Most African banks still hold on-premise hardware, which is now reaching retirement age. The question now becomes, should they invest in more hardware or virutalise? With the new data centres, our banking customers will find it much simpler and more cost-effective to embrace the Cloud, through a hosted layer within Azure.” 

While making Cloud adoption easier, the new data centres also offer rich integration capabilities, enhanced virtualisation opportunities, a more elastic environment and greater security. “With the local Azure data centres, African organisations will be empowered to embrace hybrid cloud, and we predict a much greater cloud drive,” concludes Govender.  

 Kree Govender is the Managing Director of South Africa Qlik Master Reseller (SAQMR). 

[Column] Trent Odgers: Maximizing data availability using a multi-cloud approach

The ways businesses leverage cloud to manage and maximize the value of their data continues to evolve.

Following the launch of two multi-national data centers in South Africa recently, the years when adopting cloud-based solutions felt like the first step into some brave new world are well and truly behind us.

However, this is ushering a new era of multi-cloud deployment – one which is attracting attention, questions, and scepticism from local businesses.

A hybrid cloud is an amalgamation of on-premises “private cloud”, public cloud and managed Cloud Service Provider (CSPs) environments into a single entity where the data is physically located in multiple datacenters to deliver the right fit for a specific workload. It is a nod towards the fact that businesses are increasingly using different clouds for different purposes. 

In today’s digital economy, 81% of enterprises are embracing a multi-cloud strategy and South African businesses have already adopted this digital gold rush with many more who are planning to do so. 

It is common for the IT industry to promote the idea of a one-stop-shop or single provider strategy – to avoid the perceived inefficiency and confusion of dealing with multiple vendors. 
This is the “traditional way” of doing IT, which had its place, but with the speed at which the world is changing, businesses can truly deliver on IT’s requirements using the hybrid approach. 

Data is now described as the new oil of the digital economy, and it has become a company’s most valuable resource. As businesses demand an infrastructure which maximises the potential value of that data, IT departments are under pressure to deliver.

For example, a business may wish to store data from its business unit in Google Cloud for scalability at relatively low expense but use Amazon Web Services (AWS) for its R&D databases to enjoy the benefits of AI and voice-assisted search.

And in the same instance, that business could be using Microsoft Azure to help drive its productivity solutions or mission-critical enterprise resource planning processes, while keeping a copy of all the data on-premises or hosted at a local cloud provider. 

Previously, the only viable decision for the business would have been to make a judgment call based on its priority needs and budget constraints. Today, the best strategic option is to adopt a multi-cloud approach.

Data-driven transformation

Already, there is a movement for organisations to become more data-driven. Decision-makers are recognising the importance of data in both high-level business strategy as well as on the operational side of their business. 

Furthermore, consumers and employees are beginning to appreciate the true value of their data, which means businesses must ensure that the people who share data with them see the value in doing so through receiving more personalised experiences.

People want to know that their data is protected, secure and also want greater transparency about what it is being used for.

Of course, in South Africa, this is where it is critical to adhere to corporate governance requirements, especially the likes of the Protection of Personal Information Act (POPIA).

 Fortunately, with local multi-national data centres, aspects such as data sovereignty and speed of accessing data are no longer concerns.

But creating this data-driven culture is underpinned by continuous digital transformation – embracing the latest and greatest technologies which allow the business to repeatedly lift its performance levels. 

According to Gartner’s 2018 CIO Agenda report, making progress towards becoming a digital business is a top priority for CIOs – and the proliferation towards multi-cloud reflects this trend.

Despite this, the latest Veeam Cloud Data Management Report reveals that more than one in ten decision-makers said their organisation has experienced over 10 unplanned outages in the last 12 months, with 65 minutes being the average length of time unplanned outages last. 

Successful multi-cloud deployments depend on the always-on availability of all apps and data. So, businesses looking to take advantage of multi-cloud environments must ensure that their apps and data are always available – and that their culture of data-driven decision-making is fully supported to maintain customer confidence and brand reputation.

Availability in the multi-cloud

The complexity of maintaining availability within a multi-cloud environment is the reliance on multiple Cloud Service Providers (CSPs). While all major vendors and CSPs will make backup and disaster recovery (DR) solutions available to their customers, each provider has different protocols, shared responsibility models, service level agreements (SLAs) and capabilities. 

The last thing any business wants to hear when disaster strikes is that they are not adequately protected or that recovery has failed.

While no business, regardless of whether it is using multi-cloud or not, can guarantee that it will never experience unplanned downtime, every business can ensure that it is prepared for this possibility.

Even having local data centres is no guarantee that there will never be any downtime. South African businesses opting for multi-cloud need to ensure that they have an availability solution which sits across their entire cloud platform, making cloud data protection easy with a seamless process for sending data offsite to the cloud.

For businesses using multi-cloud to power their digital transformation in the bid to establish a more data-driven culture across the organisation, data is akin to running water – a utility which all rely on and must be available at all times. 

Businesses embracing multi-cloud should not be put off by the prospect of working with multiple vendors as software-based platforms can give the peace of mind and a turnkey solution to minimising downtime.

Trent Odgersis Cloud and Hosting Manager for Africa at Veeam

[Column] Andrew Cruise: Two years until Infrastructure as a Service boom hits South Africa

Routed, a leading vendor neutral provider of cloud infrastructure, says that the predicted growth of Infrastructure as a Service (IaaS) is in line with the increasing growth forecasts for cloud computing. Andrew Cruise, managing director, Routed, says that while IaaS is seen as an emerging opportunity in Africa, the work has already started locally with demand increasing as awareness of cloud capabilities increase.

“Since launching three years ago, we have seen a steady increase in both interest and deployment of cloud infrastructure services. As cloud computing grows, so too does the need for cloud-based infrastructure resources,” says Cruise. “Without IaaS there is no Cloud: IaaS is the foundation for all Cloud services. Now that connectivity is fast, cheap and reliable we have reached the tipping point in South Africa where general interest in Cloud has switched into action.”

According to The Xalam Rise of Cloud Report 2019, South Africa is the largest cloud market on the continent. The country accounts for 75% of Africa’s total cloud revenue and Xalam says that this is unsurprising as around 60% of the continent’s enterprise ICT services revenues are generated in South Africa. Routed, which featured in the report as a leading provider of cloud infrastructure resources, says that IaaS is the fastest growing category in the African cloud space, averaging around 120% annually over the three years at 2018.

The report also estimated that around 80% of Africa’s public cloud revenue is generated from SaaS applications. To a large extent this reflects the embryonic nature of this market; SaaS is a cloud starting platform for most businesses according to Xalam.

Guy Zibi, managing director, Xalam Analytics, says IaaS is seen as more of a long-term player, estimating that South Africa is two years away from a true boom: “From a low base – IaaS is the fastest-growing cloud services segment across our cloud value chain.”

Cruise says that one factor influencing the growth and potential of IaaS is what Xalam refers to as the VMWare factor. The availability of VMWare virtualisation solutions is providing African MSPs with a platform to compete with hyperscale providers on IaaS; while they can’t match the capabilities of AWS or Azure, MSPs have increasingly been able to offer local-centric IaaS services, with support and other benefits not offered by global cloud providers.

“For more than a decade, VMware’s solutions have been the go-to virtualisation and management platform for enterprises requiring uptime, security and performance on-premise. Now enterprises can be reassured that the same outcome can be delivered using specialist, certified VMware Cloud Providers, without internalising risk, or investing in facilities, hardware, software and engineering resources,” says Cruise.

Andrew Cruise is the managing director at Routed.

African cloud market takes off bouyed by demand from public and private sectors, report

The African cloud has arrived. While the cloud services sector is in its early stages of development, the impact of cloud services is already far-reaching according to a new report by Research and Markets.

 African banks are making investments in machine learning and artificial intelligence tools to improve the customer experience and credit risk; new “digital banks” are emerging, that are, at least in part, cloud-based.

Governments are using cloud and virtualized infrastructure to enhance public service delivery. Large retail firms are using compute capabilities and AWS databases to transform how they reach a predominantly mobile and digital customer base.

 And scores of African cloud-native startups are leveraging the cloud to disrupt entire industry sectors.

The African cloud may be small, but it is already here indeed, and it is growing fast. For African markets, cloud, virtualization and the broader evolution towards serverless computing are the most disruptive technology developments since the advent of the mobile payment revolution.

 Few other segments in the African ICT space are as likely to generate an incremental $2bn in top line revenue over the next five years, and at least as much in adjacent enabling ecosystem revenue.

The report highlights the near term economic, commercial and investor value opportunity offered by the rise of the African cloud.

Building on the author’s established analysis of African enterprise and digital infrastructure markets, 18 months of research and 100+ interviews and conversations, The Rise of the African Cloud explores the readiness of African markets for thriving private and public cloud services; it analyzes cloud demand and use case patterns, at segment level, from financial services to the public sector and startups; it estimates and projects cloud services market size; it details the competitive strengths of global hyperscale cloud providers and how their battle is translating in the African context; it outlines the impact of cloud services on Africa’s managed service provider ecosystem and telcos’ evolving enterprise businesses; and it breaks down the investment case within the African cloud value chain, from enterprise connectivity to data centers and SaaS.

www.researchandmarkets.com

Johannesburg Stock Exchange starts offering historical tick data in the cloud

The Johannesburg Stock Exchange (JSE), Africa’s largest, multi-asset class stock exchange, now offers historical equity; equity derivatives and currency derivatives tick data in the cloud, meaning that clients, data vendors, investors and traders will now be able to access historical data more swiftly.

The JSE has partnered with CME Group, the world’s leading and most diverse derivatives marketplace, to house its first cloud solution offering.

The move modernises the JSE’s market data offering and strengthens the exchanges position as a global market player.  

The historical tick data will enable clients, traders and investors to assess trading opportunities, strengthen their market insights and improve risk mitigation intelligence based on both the market and various individual stocks’ past performance, support compliance reporting with more extensive data and conduct other valuable trading-related analyses.

“Traders, investors and our clients require tick data all the time in order to make informed decisions and we are pleased to offer them swifter access to information that can enable them to make these decisions.  As the JSE we constantly aim to provide our clients with the right solutions to meet their needs,” says Mark Randall, Director of Information Services at the JSE. 

www.jse.co.za

Increased digitization, investment in cloud-based services drive growth of Africa data center market, report

The Africa data center market is likely to grow at a CAGR of around 14 per cent during the period 2018 – 2024 according to a recent report by Research and Markets.

icolo.io, MainOne (MDXi), Cloud Exchange Datacenter, Amazon Web Services (AWS), and Medallion Communications are the prominent investors in the Africa data center market. Digitization is considered an important avenue for the African economy. It is transforming African economies through retail payments systems, financial inclusion, sustainable business models, and revenue administration.

Governments in the region are taking several initiatives to replace legacy systems and migrate to cloud-based services as part of smart city initiatives. IaaS is expected to grow at a CAGR of 40%, followed by SaaS at 30% with enterprises increasingly shifting to the public cloud platform. There has been a surge in colocation data center investment in markets such as Kenya, Nigeria, Morocco, and Senegal in the past two years. Governments are taking initiatives to increase the share of renewable energy in the electricity generation.

Increased digitization in African countries, the adoption of cloud-based services, migration from server rooms to managed, colocation, and hybrid infrastructure services are driving the investment in the Africa data center market. The report provides an in-depth market and segmental analysis of the Africa data center market by electrical infrastructure, mechanical infrastructure, tier standards, general construction, and countries.

www.researchandmarkets.com

Optimal IdM partners with Precise Technologies to distribute cloud solution in Africa and Middle East

Optimal IdM, a global provider of Identity Access Management (IAM) solutions, has partnered with Precise Technologies who will be the exclusive value-added distributor (VAD) of The OptimalCloud™ in the META market – Middle East, Turkey, and Africa.

The OptimalCloud™ is a scalable and customizable Identity and Access Management (IAM) solution that deploys easily and provides seamless and secure access to thousands of applications using single sign-on technology. The OptimalCloud offers multi-factor authentication (MFA) and adaptive authorization from any data store, provides delegated administration and user management enablement and can be deployed in the cloud, or federated to other organizations. The OptimalCloud also comes with year-round support and a guaranteed uptime.

Precise Technologies, a VAD specializing in disruptive and emerging technologies focused on cyber security, information security, digital & cloud transformation, and AI-based analytics solutions, will now distribute and support Optimal IdM in expanding its market presence in the META region, by fostering a mutually beneficial partnership.

“We are looking forward to introduce Optimal IdM to the META region and we are confident we will be able to help grow new business for Optimal IdM in META to the next level and support customers with our sales and technical team locally available across the region,” said Ranjit Pillai, Co-Founder and Managing Director at Precise Technologies.

“We are very excited to be working with Precise Technologies on our outreach into the META region,” said Chris Curcio, Vice President of partners and channels for Optimal IdM. “Expanding our products and services, like The OptimalCloud, into the region has been a top priority and partnering with a respected organization like Precise Technologies is exactly what we wanted.”

www.optimalidm.com

www.precise-tech.net

Cloud-based services keep global sourcing market on growth trajectory

The global sourcing market maintained its growth trajectory in the second quarter, boosted by growing demand for cloud-based as-a-service solutions, according to the latest state-of-the industry report from Information Services Group (ISG), a global technology research and advisory firm.

Data from the ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show second-quarter ACV for the combined global market (both as-a-service and managed services) rose 5 percent, to $13.7 billion.

It was the third consecutive quarter the combined global market surpassed $13 billion in ACV, but the first time in the last three quarters it did not establish a new quarterly ACV record, falling just shy of last quarter’s record $13.9 billion.

As-a-service sourcing registered its second-best quarterly ACV ever, at $6.7 billion, up 14 percent over the prior year.

 Both Infrastructure-as-a-Service (IaaS), at $4.9 billion, and Software-as-a-Service (SaaS), at $1.8 billion, were up 14 percent. IaaS, long the growth engine of this segment, trailed off sequentially this quarter due to slowness in Asia Pacific, particularly China, while SaaS recorded its fourth consecutive record ACV quarter as it climbs toward the $2 billion mark.

Managed services, at $7 billion of ACV, achieved only the seventh quarter this decade at or above that level, but nonetheless dipped 3 percent versus an exceptionally strong second quarter last year.

The 491 contract awards in the latest quarter, up 1 percent, kept alive a string of six consecutive quarters above 400 awards – a sign of both strong demand and continuing market fragmentation.

Within managed services, IT outsourcing (ITO), at $5.3 billion, was down 7 percent in the second quarter, reflecting the continuing shift of data center infrastructure to the cloud.

Business process outsourcing (BPO), meanwhile, climbed 14 percent, to $1.7 billion, on strong demand for horizontal back-office functions such as finance and accounting and procurement, as well as in the facilities management space.

“The global commercial outsourcing market is stable and healthy,” said Steve Hall, partner and president of ISG. “Despite macro-economic and geopolitical risks, technology spend continues to increase. With the rapid changes in digital business, shifting consumer demands and increased competition, enterprises can’t afford to hit pause. We likely will see some macro-economic headwinds before the year is out, but the technology tailwinds are far stronger.”

For the first half, ISG reported combined market ACV of $27.6 billion, up 10 percent. The growth was driven entirely by as-a-service, which, at $13.7 billion, climbed 23 percent, with IaaS up 28 percent, to $10.1 billion, and SaaS up 9 percent, to $3.6 billion.

Managed services overall was flat, at $14 billion, with ITO also flat at $10.9 billion. BPO was down 1 percent, to $3.1 billion. As-a-service in the first half represented 49 percent of the combined market, versus 44 percent in the same period last year.

Europe, Middle East and Africa (EMEA)

EMEA’s combined market ACV of $5 billion was up 3 percent versus last year. In the managed services segment, ACV was $3.2 billion, about even with the first quarter, but down 1 percent versus a year ago. The two consecutive quarters above $3 billion may signal a return to sourcing levels last seen in 2015. The bulk of managed services ACV came from ITO ($2.7 billion, up 2 percent). Europe continued its shift to as-a-service, now 36 percent of the combined market, with ACV of $1.8 billion, up 9 percent. IaaS, at $1.3 billion, was up 7 percent, while SaaS, at $491million, was up 16 percent. Growth in the Nordics, Benelux and Southern Europe offset slight declines in DACH (Germany, Austria and Switzerland), France and the U.K., as Brexit uncertainty persists.

Americas

In the second quarter, combined ACV in the Americas rose 6 percent, to $6.5 billion, on the strength of robust demand for as-a-service, which now represents a record 57 percent of the market. As-a-service ACV climbed 23 percent in the quarter, to $3.7 billion, including $2.6 billion for IaaS, up 29 percent, and $1.1 billion for SaaS, up 12 percent. Managed services, meanwhile, declined 10 percent, to $2.8 billion, as ITO slumped 22 percent, to $1.8 billion, even as BPO surged 25 percent, to $1 billion.

Asia Pacific

Combined market ACV in Asia Pacific reached a record $2.2 billion, up 6 percent. On the strength of larger awards, managed services produced its best quarter in five years, with ACV of $967 million, up 15 percent. China, South Korea and India had the largest gains, offsetting weakness in Japan and Australia/New Zealand. As-a-service, flat at $1.3 billion, eclipsed the $1 billion ACV level for the sixth straight quarter, amid uneven IaaS results in China, which pushed regional IaaS down 3 percent, to $1.1 billion. SaaS, meanwhile, rose 18 percent, to $206 million.

“We are projecting 22 percent year-on-year revenue growth for the remainder of 2019 in the as-a-service market,” said Hall. “This takes into account a slightly more optimistic view of the SaaS segment and factors in some uncertainty in IaaS, particularly in China and elsewhere in Asia Pacific.

“In the overall IT and business services market, we are raising our growth forecast slightly, to 3.5 percent, through the end of the year. However, given some of the macro-level trends, we will remain alert to any negative developments that could signal an overall downward trend.”

www.isg-one.com

[South Africa] Barko Financial Services chooses Temenos cloud software to deliver personalized digital customer experiences

Temenos, the banking software company, has announced that Barko Financial Services has selected Temenos software to replace its legacy systems, in both core and front office, to offer a compelling and personalized customer experience.

The microfinance institution will use cloud-native, cloud-agnostic Temenos T24 Transact, the next generation in core banking, and Temenos Infinity, the breakthrough digital banking product.

Barko Financial Services is in the process of applying for a banking license with the ambition to launch a retail bank that will challenge the status quo in South Africa by offering financial products aimed at better meeting the needs of lower-income South African consumers – Temenos will provide the technology to enable this strategy.

The microfinance institution has over 170 branches and caters for millions of modest-earning, but salaried South Africans such as government employees, mineworkers and civil servants.

Currently, it takes Barko Financial Services 25 minutes to onboard a client and 10 to 15 for a new loan application. With Temenos’ packaged, integrated software, Barko Financial Services will dramatically reduce the time to originate loans, targeting re-loan applications to be completed in under two minutes and new loan completion in under seven minutes.

The aim is to give customers, who are mostly located in rural areas, a compelling digital experience using mobile devices, thereby eliminating the need to visit a branch.

By selecting Temenos’ end-to-end digital banking platform, Barko Financial Services will benefit from accelerated project timelines and drastically reduced cost of deployment. The microfinance institution is expected to go live in six months.

Cloud-hosted Temenos Infinity will allow Barko Financial Services to gain product agility and take new products and services to market faster. Temenos T24 Transact will enable the business to benefit from operational efficiencies at a lower cost of ownership.

Temenos has more than 25 years of global banking expertise and a local presence in Africa. Temenos consistently invests over 20% of its revenue into continually enhancing its packaged software, to develop the richest and deepest functionality in the industry.

Kobus de Wet, Chief Executive Officer, Barko Financial Services, said: “We are delighted to be working with Temenos as our strategic technology partner. Temenos has a worldwide reputation for robust, scalable banking software and an extensive presence in the African region. We selected Temenos’ packaged and open banking software to transform our customer experience, offer personalized products and services and drastically lower our total cost of ownership. With Temenos, we will be able to launch capabilities faster, if we get approval to establish a bank, and provide innovative products which are simple to use and tailored to add value to our target customers. We wish to offer lower-income customers a personalized experience that is typically reserved for private clients.”

Jean-Paul Mergeai, Managing Director – Middle East and Africa, Temenos, said: “Technology is playing a pivotal role in making financial inclusion a viable option for everyone. We are delighted to partner with Barko Financial Services, which joins the Temenos family, and it can leverage our experience of serving over 220 microfinance institutions as well as our expertise in helping new banks to launch. By selecting our cloud-native, cloud-agnostic packaged software Barko Financial Services will benefit from a fast implementation. Barko Financial Services will be best positioned to leverage technology innovation to offer an outstanding customer experience at a reduced cost. We look forward to working with Barko Financial Services as it transforms the services that it offers to its customers.”

www.temenos.com

www.barko.co.za