South African fintech startup Ukheshe has announced a rebranding to EFT Corporation after a procedure to acquire the company back in January this year, which will assist in its efforts of positioning as a “financial inclusion catalyst” on the African continent.
Ukheshe is a prominent fintech enablement solutions provider with its roots in the enterprise platform for embedded finance. It has developed many microservices which allow the generation of new digital transaction propositions to clients.
Earlier this year, EFT Corporation, a 23-year-old digital payment solutions company operating in 35 African countries, was purchased from its parent company Loita Transaction Services (LXS) and has now been renamed.
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Ukheshe said that the rebranding would align the company’s digital solutions with EFT Corporation’s presence under one brand.
“Our rebranding indicates the dawn of the new age of green light in the development of new opportunities and the future ahead of us as EFT Corporation,” said Clayton Hayward, the CEO of EFT Corporation.
He continued, highlighting that the time for a fully digital, 24/7, always-instant money transfer and payments system is fast arriving and inevitable.
“Regulators and banks have a huge amount to lose if this continues to be pushed onto crypto and mobile money rails outside traditional financial services providers. To compete and keep the higher ground, banks need to innovate faster and partner more.”
