Wizzit

bankingtechnew core banking solutions

FOUNDING YEAR: 2004
LOCATION: South Africa
Last Update: 01/05/2020

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About

WIZZIT International is a leading global provider of digital and mobile banking. WIZZIT has built an international reputation across three continents and 14 countries as thought leaders and innovators in the financial services industry. Everything we do, we believe in challenging the status quo to ensure that banks are digitally ready to not only face the challenges of the future but to grow their businesses by providing their customers with leading edge and relevant technology based solutions.

MEDICI Analysis

Wizzit Payments Ltd is subdivision of South African Bank of Athens, it is a provider of basic banking services for the unbanked and underbanked in South Africa. Wizzit is an affordable, easy and convenient transactional account with state of the art, secure cellphone banking technology.

Focus

PRODUCTS & SERVICES

WIZZIT is a mobile banking solution provider that offers partner financial institutions and service providers mobile banking technology that can be integrated into existing systems. The company's banking solutions include: WIZZIT mobile banking platform (a fully functional electronic commerce and mobile banking platform), WIZZIT Merchant Platform (Agency Banking, manages the transaction processing and settlement to merchants), WIZZIT Cloud Hosted Solution (gives clients the ability to link into the WIZZIT Platform without the need for investment in infrastructure and IT support resources), WIZZIT Smart ESB (connectivity and transaction management system that allows banks and other financial service providers to increase the functionality and reach of their digital banking platform), WIZZIT Financial Services (mobile acquiring and merchant management), WIZZIT's Platform (customized app building).

REVENUE MODEL

Monthly account fee + fees for features usage (ATM withdrawals, POS transaction fees, international ATM and POS transactions, balance inquiries, deposits, etc.)

EXISTING PARTNERSHIPS

Ubank

SureBank

BPR

StanbicIBTC

Zanaco

Bank Windhoek

ICBank

NMB

Bank Gaborone

Compartamos Banco

Cavmont Bank

Banco de Occidente

KFC Bank

PRIMARY PROBLEM SOLVED

The inability of banks to innovate at the same speed and level of efficiency as technology startups can, has left the door wide open for FinTech providers to capitalize. WIZZIT allows banks to balance the scale with the following advantages: minimal disruption to existing IT, potential to increase sales by 60%, decrease client acquisition costs by 20%, 8 - 12 week implementation, tailor made and customized to client's needs, reach unbanked and previously untapped massive market with mobile banking and mobile commerce solution.

People

FOUNDERS

Brian Richardson

Charles Rowlinson

NUMBER OF EMPLOYEES

1000+

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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