Strate, South Africa’s principal central securities depository and central collateral platform, has announced the acquisition of Trustlink, an enabler of the secure and reliable exchange of information.
André Nortjé, CEO of Strate, stated that the acquisition will enhance and complement its Integration Services business, allowing the company to leverage scale and efficiencies to the benefit of all its clients. “As a purpose-led company, we are committed to serving the South African financial market”, Nortjé added.
The acquisition of Trustlink’s Swift bureau services business has resulted in the remaining entity being split into two sister companies, Omnea and Tegra, both owned by XEA Capital. Deon Tromp, CEO of Omnea and former chief executive of Trustlink, stated that the business was at the forefront of the fintech movement at inception by providing diverse enablement services and integrations to support customers’ growth in the financial services industry. “More than two decades later, and now known as Omnea, we remain a trusted partner and leading advisory to the fintech industry and enable over 450,000 individuals and businesses with payment services across South Africa,” Tromp said.
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According to Tromp, innovation has advanced alongside technology in South Africa, providing a fertile foundation for economic growth. “Young, urban citizens, small businesses and new enterprises are providing a fertile foundation for economic growth. At the heart of this growth are new financial systems and alternative payment methods that address the country’s unique challenges,” Tromp explained. Omnea aims to enable the creation of unique banking and financial services experiences for the markets it serves by facilitating the fintech industry through its open digital platform.
From a Tegra point of view, the business will continue to focus specifically on providing specialised platforms for the secure, seamless transfer of data, and industry-leading API management and security platforms across the continent. “Tegra provides specialised solutions and expert services, combining its vast experience with the technologies of trusted and established software providers,” Tromp added.
