EFTCorp's Group Chief Executive Officer, Clayton Hayward says, "We have been honing our focus on the core strengths of the business – cards, wallets, processing and POS services as well as tailoring our approach to meet the specific demands of regional markets. We are positioned to become the largest, most impactful payments solutions provider in Africa with payment orchestration as our core value proposition."

Ensuring EFTCorp continues to add value for its bank and fintech partners is the cornerstone of the company which has recommitted to delivering streamlined, solutions-driven offerings to its clients.

Seamless transformation

EFTCorp's transformation over the past year has focused on integrating innovative technologies, streamlining operations, and reinforcing its position as a trusted partner for banks and fintechs. Going into 2025 with a razor-sharp vision for both the company and the continent's future will see the growth and development of market-driven payment solutions to deliver bottom-line revenue growth for the company.

Catherine Korsten, Chief Commercial Officer, reflects on the evolution of EFTCorp, "Through the company's transformation process, we have constantly been working to stay ahead of the curve and be responsive to trends in the payments sector, but always with the specific needs of our clients in mind, wherever they are on their own digital transformation journey."

It is this ability to offer future-forward solutions that meet clients' current challenges that has kept EFTCorp at the forefront of the payment orchestration landscape.

A commitment to innovation and market adaptation

The strength of EFTCorp's sales team is key to the company's success. By incorporating trends that are currently shaping the fintech landscape, the company is able to unlock growth opportunities for themselves and their clients. "Innovation lies in how we solve our clients' individual challenges. Instead of selling products, we focus on solving orchestration problems for them," says Carlin Wicomb, Chief Sales Officer.

One of the banking sector's key challenges is the need to optimise existing infrastructure that is costly to replace, while containing and reducing costs.  EFTCorp's solutions don't disrupt systems that the client already has in place but rather enhance them. "Looking forward we will focus on our flagship solutions including Eclipse to support existing banking infrastructure, ensuring we add measurable value for banks and fintech partners across the continent," says Hayward.

Hayward emphasises that the company's strategy is clear - to create payment efficiencies in payment orchestration - and to match these efficiencies to regional realities in new and emerging markets including East Africa, particularly Ethiopia and Kenya and in West Africa, starting with Ghana.

Says Carlin, "In markets like Kenya and Ghana, for example, the integration of payment orchestration and POS solutions is in its infancy, presenting a huge opportunity for EFTCorp to become a significant player in those markets."

Watching regional as well as industry-specific trends is important for the sales team. "It's important that we remain agile and address specific challenges in each region, and while our base solution – processing, issuing and acquiring – remains consistent – the way in which we package and tailor it varies based on market needs. Our sales team is always sensitive to regional diversity, and that market intelligence is critical for our successful expansion in Africa," added Wicomb.

Forward looking

Trends in the fintech sector, including embedded finance, blockchain and open banking are making financial services accessible and inclusive for everyone, whether they have a bank account or not. Despite progress, approximately only 45% of the population in Sub-Saharan Africa did not have a bank account as of 2021. Additionally, about 90% of retail transactions in Sub-Saharan Africa are still cash-based, indicating a heavy reliance on cash among small and medium-sized enterprises (SMEs). By leveraging its strengths in seamless payment processing, issuing, acquiring and banking as a service, EFTCorp is driving financial innovation, inclusion and growth across emerging markets.

"Our success will come from doing a lot more with a lot less," says Hayward. "By refining our core offerings, scaling what works and delivering innovative solutions tailored to the needs of regional markets, we aim to position ourselves as the leading orchestration platform provider for banks, driving their digital transformation journeys."

In just 12 months, EFTCorp has achieved a lot, but there is definitely more to come.