Merchant Multiproduct Qorus-Infosys Finacle Banking Innovation Awards 2025
Submitted by
Absa Group
We are a Pan-African group, inspired by the people we serve and determined to be a globally respected organisation of which Africa can be proud. We have operated in Africa for over 100 years. We are committed to finding tailored solutions to uniquely local challenges, and everything we do focuses...
South AfricaCategory
Business Banking InnovationKeyword
Customer experience, Digital channels & Omnichannels, Beyond financial services & ecosystems, SME Banking, Payments, Automation, SME Lending
Innovation presentation
In 2024, the launch of Merchant Multiproduct marked a significant milestone in our commitment to delivering innovative digital solutions that empower SMEs. This pioneering capability is a SA first for tier 1 banks and enables both new-to-bank and existing customers to apply for multiple merchant acquiring products through a single, simplified digital journey. By consolidating various product applications into one seamless process, SMEs can now access a comprehensive suite of payment solutions – including SmartPay, SmartMobi, and Absa Mobile Pay – with greater speed and efficiency. This streamlined approach not only reduces the administrative burden on SMEs but also accelerates time to fulfilment, allowing businesses to focus on what matters most – serving their customers and driving growth. This digital advancement reflects our customer-centric approach to serving SMEs by offering solutions that address their evolving needs in an increasingly digital economy. The Multiproduct Product Onboarding capability strengthens our position as the Best SME Bank in South Africa, delivering operational simplicity, convenience, and access to tailored payment solutions that support business growth. This innovation aligns with our strategic vision of enabling SMEs to thrive by providing frictionless access to the right financial tools, reinforcing our dedication to empowering businesses across our markets.
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