Electrum, a South African payments technology leader, recently achieved a significant milestone by securing the prestigious Amazon Web Services (AWS) Financial Services Competency.

This recognition solidifies Electrum’s position as a pioneer in cloud-based financial solutions, offering unparalleled reliability, security, and efficiency to its clients.

To earn this certification, Electrum underwent a rigorous evaluation process, demonstrating its expertise in various areas, including security, reliability, performance efficiency, and cost optimisation.

The company’s solutions were thoroughly assessed against the AWS Well-Architected Framework, ensuring they meet the highest standards for cloud-based applications.

As the first African firm to earn the AWS Independent Software Vendor (ISV) status in financial services, Electrum has joined an exclusive group of global companies demonstrating exceptional expertise in cloud-native payments technology.

Fewer than 40 companies worldwide have attained the AWS Financial Services Competency ISV status, making Electrum a standout in the industry. This achievement highlights Electrum’s unwavering commitment to delivering world-class solutions that meet the highest industry standards.

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The AWS Financial Services Competency ISV status validates Electrum’s technology across six critical pillars: operational excellence, security, reliability, performance efficiency, cost optimisation, and sustainability.

This rigorous evaluation ensures that Electrum’s clients, including major banks and financial institutions, can confidently rely on its solutions for complex financial transactions.

By leveraging the power of the AWS cloud, Electrum empowers financial services organisations to:

Drive growth: Streamline operations and reduce costs to achieve sustainable growth.
Enhance customer experiences: Offer innovative, personalised payment solutions.
Stay ahead of the curve: Adapt to the evolving digital landscape.

Electrum’s journey began in 2012, and since then, the company has established itself as a trusted partner in streamlining financial transactions.

With a proven track record of delivering cutting-edge enterprise solutions, Electrum has impacted the lives of over 25 million South Africans annually.

The achievement of the AWS Financial Services Competency is a testament to Electrum’s dedication to innovation and excellence. As the company continues to expand its footprint across Africa, its expertise in cloud-native payments technology will undoubtedly play a key role in shaping the future of financial services on the continent.

A Reputation for Excellence

Electrum’s reputation for excellence is built on a foundation of speed, reliability, and security. The company’s cloud-based payments technology can handle up to 150 transactions per second, making it ideal for high-volume value-added services.

With a 99.99% uptime, Electrum has earned the trust of four leading South African banks, who rely on its solutions for payment optimisation.

Rapid Innovation and Scalability

Electrum’s ability to quickly turn ideas into scalable solutions sets it apart. The company helped one of South Africa’s leading banks rapidly implement PayShap on a modern architecture.

With an always-on service, seamless integrations with BankservAfrica schemes, and over 60 connections for VAS payments, Electrum empowers its clients to deliver exceptional payment experiences.

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Cost-Effective and Cutting-Edge Technology

Electrum is committed to providing cost-effective, state-of-the-art software that helps clients get to market quickly. As a registered systems operator under the New Payments Systems Act, Electrum’s solutions are designed for ISO 20022-enabled use cases and adhere to ISO 27001 certification standards.

Deep Understanding of the African Payments Landscape

Electrum’s expertise extends beyond technology. The company possesses a deep understanding of the complex landscapes of major banks, retailers, insurers, and telcos in Africa. This knowledge allows Electrum to develop solutions that address the unique challenges and opportunities faced by these organisations.

The certification marks a significant step forward for Electrum in its market expansion and the delivery of its cloud-native offering using AWS cloud infrastructure.

The company boasts a strong track record of providing next-generation payments technology to leading financial institutions such as Capitec, BankservAfrica, and Investec. Electrum’s solutions range from consumer-friendly online payments to advanced payment engines for digital banks.

Electrum’s achievement of the AWS Financial Services Competency is a testament to its dedication to providing innovative and reliable payment solutions.

This recognition solidifies the company’s position as a trusted partner for financial institutions seeking to leverage cloud-based technology to enhance their operations and deliver exceptional customer experiences.