9PSB Records 50% Transaction Growth with Qore’s BankOne 

 
Nigeria’s digital payments landscape is experiencing significant growth, with financial inclusion increasing from 68% in 2020 to 74% in 2023, according to a report by Enhancing Financial Innovation & Access (EFInA). 9 Payment Service Bank (9PSB) has played a key role in this growth, deploying last-mile agents across Nigeria to provide essential financial services to underserved communities, while also driving innovation through their digital banking platform, seamless merchant collection solutions, and fintech-powered services that unlock new opportunities for businesses and individuals. Building on this momentum, 9PSB’s collaboration with Qore, Africa’s leading Fintech Infrastructure and Banking-as-a-Service provider, has yielded remarkable results.  

Since leveraging Qore’s innovative home-grown core banking solution (BankOne), 9PSB has witnessed a staggering 50% increase in transactions. BankOne’s scalable APIs have enabled 9PSB to expand into various payment areas, resulting in not only increased transactions but also outstanding achievements, such as developing award-winning payment and collections solutions for myriad businesses, including fintechs, microfinance banks and other financial institutions. Additionally, 9PSB has successfully integrated all its digital platforms and seamlessly migrated all its customers from its previous core banking software to Qore’s BankOne in a record timeframe with minimal downtime. 

 
The impact of this collaboration extends far beyond numbers. By providing affordable and convenient payment services, 9PSB and Qore are bridging the gap caused by financial exclusion, empowering Nigerians to participate in the digital economy. According to 9PSB, the BankOne solution has been instrumental in driving their growth. “The platform has enabled us to automate our processes, reducing the time and cost associated with manual transactions,” said Akeem Salam, Head of Product Management at 9PSB. “This has allowed us to focus on expanding our services and reaching more customers.” 
 

Qore also highlighted the significance of their collaboration with 9PSB. “Our BankOne solution is designed to help financial institutions scale their operations and reach more customers,” said Patrick Irebo, Vice President Core Banking, Self Service and Merchant Services at Qore. “We’re excited to see the impact it’s having on 9PSB’s growth and the broader digital payments landscape in Nigeria.” 
 
With this momentum, both companies are poised to drive even more innovation in Nigeria’s digital payments landscape. To learn more about how 9PSB and Qore are transforming Nigeria’s digital payments landscape, visit Customer Story – Qore – 9PSB – Providing excellent and robust services.   
About 9PSB and Qore 

9 Payment Service Bank (9PSB) is Nigeria’s digital payment service bank focused on financial inclusion. As the first payment service bank Licensed by the Central Bank of Nigeria (CBN), 9PSB is providing unique banking services to the unbanked and underbanked. Operating as a fully digital bank, Bank9ja, 9PSB manages its own agent banking network, providing a seamless digital banking experience for both individuals and agents. Beyond this, 9PSB is leveraging digital financial technology and innovation to power merchant collections and fintech solutions, delivering simple, accessible, efficient, and inclusive payments and financial services that are among the most secure and trusted in sub-Saharan Africa.

Qore is a leading Fintech Infrastructure and Banking-as-a-Service provider, delivering cutting-edge technology, platforms, and services to fintech companies, banks, and enterprises. By powering other FinTech’s and financial institutions through APIs, software, and infrastructure, Qore enables efficient building, scaling, and operation of financial products globally. Furthermore, by leveraging its own proprietary technology, Qore is able to forward integrate and offer comprehensive Banking-as-a-Service solutions to unlicensed financial entities, expanding access to financial services.