MCI and Objectway form partnership to offer software solutions

IT solutions firm MCI Consultants and Milan-based FinTech firm Objectway have announced their decision to collaborate to provide software solutions. The partnership will leverage MCI’s local foothold in the South African market and Objectway’s status as a top -100 global provider of fintech solutions.

Amid a faltering economic scenario, one area in which South Africa is advancing strongly is in the development of the tech environment. In the financial sector, the rapid evolution of the FinTech arena is changing the face of financial transactions. Over the next few years, the country’s FinTech permeation could potentially reach as high as 71%.

South Africa’s big four banks, which include Barclays South Africa, Standard Bank, Nedbank and FirstRand, cumulatively spent nearly R40 billion on IT infrastructure, in a bid to maintain relevance in the contemporary digital scenario. The banking industry is not alone, as new firms have emerged in the InsurTech arena as well, aiming to disrupt the insurance sector.

While such a shifting scenario spells expenditure for banks and insurance companies, it spells heavy income for IT solutions firms and fintech providers. A combination of the two would be a lucrative partnership indeed; one that is being attempted by MCI Consultants and Objectway.

Founded in 1992 in Johannesburg, MCI Consultants categorises itself as a software solutions firm, delving primarily into the realm of business information systems for firms of all sizes, from small regional firms to multinational corporations. The firm differentiates itself through its ‘customised solutions’ offering, whereby the changing nature of client-requirements are well accounted for.

MCI Consultants operates with a staff of 45 professionals, who have expertise in areas such as marketing, project management, systems development and implementation and training.  The firm began with operations in South Africa, but has since conducted business in a number of African countries, including Kenya, Tanzania, Mozabique, Ghana, Uganda, and many others. The firm has also gained an international presence, having provided services for clients in South America and the UK as well.

Objectway, on the other hand, is a firm with a strong global presence, headquartered in Italy with additional locales in the UK, Ireland, the Benelux region and South Africa. The firm employs more than 600 people and generates annual revenues of €60 million from business conducted in 15 countries.

At its core, Objectway is a professional services firm, offering solutions in the IT outsourcing and BPO investment, in addition to its specialisation as a provider of Fintech solutions. Following the formation of a strategic partnership, the firm will now be able to leverage MCI Consultants’ credibility and experience in the South African market to benefit from the lucrative fintech economy.

MCI, meanwhile, will benefit from Objectway’s vast global infrastructure and expertise in fintech. Commenting on the collaboration, Aliki Droussiotis, Director at MCI said, “The combination of our companies' products and services provide an exciting new wealth management solution and service offering for this evolving South African market.”