Cloud-native solutions offer the opportunity to scale rapidly while providing security and uptime. Banks need a way to definitively know their partner takes system security seriously, is an expert in cloud-based solutions, and is trusted.
Last year Electrum became the first company in Africa, and one of fewer than 40 companies worldwide, to receive the AWS Independent Software Vendor (ISV) Competency in financial services. After meeting stringent requirements, we are excited to receive this as a testament to our expertise and the assurance it provides our clients.
To reach this milestone, AWS examined our services and operating processes, requiring us to complete an in-depth assessment. This confirmed our software met all AWS Well-Architected review and technical criteria. In addition, we provided AWS with various case studies of the solutions we have delivered to our clients. Due to the additional specialisation within the financial services category, we had to provide additional evidence of our system resilience over and above standard requirements that other ISV certifications must adhere to.
With this certification, our clients have an independently verified assurance that Electrum meets the highest standards as a trusted software partner. This includes knowing your payments data, and our own, is secure according to industry best practices. Leading enterprise businesses can trust that our technology is designed to handle complex financial transaction processing with the utmost reliability and efficiency, ensuring their internal systems are protected from changes to banking channels and switches. Becoming ISV certified also opens up new opportunities for collaboration and innovation in the financial services sector.
‘This competency is significant for both Electrum and our clients. For Electrum, it serves as a testament to the quality and reliability of our cloud-native payments technology, which is designed to run efficiently and securely on the AWS cloud infrastructure. This validation from AWS assures our clients that we take their business seriously and place their security as our highest priority.’ - Dave Glass, CEO at Electrum.
Ultimately, we had to prove our expertise in payments solutions and cloud software, with implementation in line with the AWS pillars of operational excellence, security, reliability, performance efficiency, cost optimisation, and sustainability. Our mission at Electrum is to continue to provide value to our clients through trusted, industry-leading payments software.
Success StoryA leading South African bank needed a partner to implement PayShap quickly and securely with a solution that could respond to future innovations. Electrum provides next-generation, ISO 20022-based services that enable the bank to iteratively modernise its systems. With PayShap being a new industry service, scalability was key. The following AWS tools contributed to making this possible, resulting in a reliable offering
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Since its inception over a decade ago, Electrum has led the way in payments software, providing robust and secure solutions. Achieving AWS certification underscores our dedication to building future-ready, high-performance payment systems. This commitment is evident in our partnerships with leading banks such as Capitec, Absa, and Investec, as well as enterprise retailers like Shoprite and Pick n Pay.
Get in touch with us to discover how we can help future-proof your business.