This award recognises RedCloud’s determination in creating the infrastructure for digital financial services marketplaces in emerging economies, ultimately improving financial inclusion and economic development.
London, UK, 25th October 2017. RedCloud Technologies recognised with a Frost & Sullivan’s 2017 Visionary Innovation Leadership Award in the enterprise software for Financial Services category. The award recognises the work the company has undertaken globally and specifically in Sub-Saharan Africa. RedCloud addresses the significant technological challenges in creating digital marketplaces where banks, corporations, governments, retail and any service provider, can offer services digitally. Removing physical cash solves many problems facing entire financial supply chains globally.
RedCloud’s flagship technology, RedCloud One, is a universally accessible platform delivering a new technology model known as ‘Marketplace Banking’ or ‘Open Marketplace’. The end-to-end platform includes white-label applications, configurability software, open APIs Smart Integration Modules and other patented technologies to offer extended capabilities to anyone, anywhere and on any device.
“RedCloud’s strategic business model of offering customers the full platform, as opposed to a module-based purchasing option, allows the company to bridge the gap between traditional banking systems and fintech. Furthermore, banks and financial institutions will not need to piece different technologies together, thus avoiding the risk of faulty technological implementations as well as keeping their capital expenditure required for the technology upgrade low” said Frost & Sullivan Senior Industry Analyst, Naila Govan-Vassen“.
Overall, RedCloud’s technology promotes innovative partnerships for banks and other players within the ecosystem, enabling modern and efficient financial services for the SSA market“said Govan-Vassen,