Modefin, a global FinTech solution provider that empowers banks and financial institutions with state-of-the-art digital banking solutions that help them to thrive in the digital age, is proud to announce securing the top as IBSi SLT Leader Special Awards for Regional Leader in Africa for Digital Banking & Channels.

The category reported 260 deals by 22 vendors and witnessed a year-on-year growth of 17%. Africa recorded the highest growth, with the number of deals growing from 31 in 2021 to 62 in 2022. In terms of the geographical split, the highest number of digital banking systems were sold in the Americas, followed by Africa and the APAC region.

IBSi SLT showcases the sales performance of banking technology suppliers, objectively ranking products across 16 categories, with one new category launched this edition. The IBSi SLT 2022 includes systems purchases made by over 1000+ banks across 250+ products from 60 suppliers across the America, Europe, Middle East, Africa, APAC, and ASEAN. The number of deals evaluated this year was 1,900+, reported across 134 countries globally.

Amarnath Choudhary, CEO at Modefin, said: “This is a proud moment for all of us at ModeFin. This award demonstrates the trust bestowed by our clients on us and the outstanding contribution by our team.”

This year, IBSi also recognises select suppliers who have not made it to the SLT Leadership Club but have demonstrated strong performance in the SLT Industry Leader Special Awards across multiple categories: Fraud Management, Credit Scoring, Card Management & e-Wallets, Loan Origination, Domestic Leader | ASEAN, Regional Leader | LATAM, Regional Leader | Africa | Digital Banking & Channels, Global Leader | Multi-Region, Treasury & Risk Management, Star Performance | SLT New Entrant | Transaction Banking (Trade Finance).

Robin Amlôt, Managing Editor of IBS Intelligence, said: “Modefin claims to offer ‘robust products for the banks of the future’ – that claim is ably backed up by the company’s performance in the IBS Intelligence Sales League Table 2022, in which the company was named Regional Leader | Africa | Digital Banking & Channels. We congratulate Modefin for its strong performance over the last year and look forward to reporting and analysing the company’s future successes.”

The results of the IBS Annual Sales League Table 2022 are available here:

About IBS Intelligence

Established in 1991, UK-headquartered IBS Intelligence is the leading global pure-play Financial Technology research, news analysis, and advisory firm. IBSi’s Sales League Table is considered the global industry barometer ranking leading banking technology suppliers. Its research reports comprehensively cover international suppliers across all Banking Technology & Financial Technology systems and are also distributed by Thomson Reuters, Bloomberg and S&P Capital IQ.

IBSi’s Innovation Lab in Dubai brings banks and suppliers together with an opportunity to access the Middle East market and to test and experience global Financial Technology products within the region. The group company, Cedar, is a global management consulting firm with deep expertise in formulating and executing a business strategy for financial services clients worldwide with a significant focus on leading their technology and digital transformation.

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