5 BankTech partnerships that defined innovation in November 2024

By Gloria Methri

BankTech, the fusion of banking and technology, is transforming financial services globally. November witnessed a flurry of BankTech collaborations around the world, underscoring the financial sector’s ongoing transformation through innovation and strategic partnerships.

From enhancing digital wealth management in Europe to revolutionising cross-border payments across Africa, these alliances signal a shared commitment to delivering cutting-edge financial solutions.

Let’s look at five notable partnerships that showcase how technology is reshaping the banking landscape to serve diverse markets and customer needs better. 

• Intesa Sanpaolo and BlackRock

Fideuram Intesa Sanpaolo Private Banking (FISPB) – the private banking arm of Intesa Sanpaolo Group, is expanding its Digital Wealth Management offering in Italy and across Europe in collaboration with BlackRock.

Through this collaboration with BlackRock, FISPB will expand its digital proposition by leveraging BlackRock’s investment expertise, advanced technology capabilities and deep knowledge of the wealth market.  The initiative will expand into Europe, beginning with Belgium and Luxembourg.

• TransferTo and Ecobank

TransferTo, a Singapore-based global technology group, and Ecobank Group, a pan-African financial institution, have entered a partnership to transform financial access and cross-border payment solutions across Africa.

This strategic partnership brings together TransferTo’s companies—Thunes, Ezra, DT One and Tookitaki—with Ecobank to expand access to credit, digital products and cross-border payment solutions. The collaboration will create a safe, inclusive financial ecosystem that bridges markets, enabling swift, reliable payments across borders and offering financial empowerment tools to millions of Africans and businesses.

• Bank of Valletta and Profile Software

In another BankTech deal, the Bank of Valletta selected Profile Software’s Axia Suite platform to enhance its portfolio management and investment services operations. The investment aims to improve the bank’s operational efficiency across multiple divisions, including Asset Management, Private Banking, and Prestige Client Networks.

Headquartered in Santa Venera, Bank of Valletta offers a wide range of financial and investment services. The deployment of Axia Suite will enable the bank to streamline its investment management processes and provide seamless, high-quality service to its clients.

• Ecobank and Nium

Nium has partnered with Ecobank Transnational Incorporated to enable seamless cross-border payments across 35 African markets for more than 32 million customers. This BankTech partnership aims to revolutionise the region’s payment landscape by allowing faster, more efficient international payments for businesses and consumers alike.

Nium’s real-time payments infrastructure will be integrated into Ecobank’s existing banking operations, empowering Ecobank to enhance its services for small and medium-sized enterprises (SMEs).

• Bank NXT and Mindgate

Egypt’s Bank NXT has partnered with Mindgate Solutions to co-develop a digital platform tailored to the needs of corporate clients, providing them with seamless internet and mobile banking solutions.

The new platform will leverage Mindgate’s advanced digital technologies and Bank NXT’s industry expertise to create an integrated and user-friendly interface that empowers corporate clients to manage their finances more effectively and efficiently.