31 July 2023
Industry2 Minutes, 12 Seconds read

The anatomy of a fintech stack: enterprise businesses in South Africa

In today’s rapidly-changing ecosystem, we imagined what a fintech stack might look like from the perspective of an established enterprise business in South Africa.

Thea Sokolowski, Head of Marketing and Communications

It takes a comprehensive set of infrastructure tools to enable a scaling business to thrive. Last year, we looked at what a typical “fintech stack”, or set of infrastructural tools and partners, might look like for a wallet-based startup launching for the first time in African markets. What are the products and services they can rely on to enable them to launch, build and scale quickly? In today’s rapidly-changing ecosystem, we imagined what a fintech stack might look like now - from the perspective of an established enterprise business.

Financial infrastructure and fintech partners are critical to success for any business that operates online. As payments become increasingly varied and complex, with new fraud challenges arising daily and growing consumer demand for better, faster, more secure experiences, the fintech stack a business relies on can have a significant impact on their ability to scale.

For established enterprise businesses or international businesses looking to expand into South Africa, these tools and partnerships look different, but they play equally important roles. It’s vital that these solutions understand how businesses at scale operate and that they’re tailored to meet the specific and complex payment needs of larger enterprises.

The online payments landscape in South Africa is changing rapidly, thanks in particular to open banking innovation. We’re seeing solutions like Instant EFT begin to phase out as Pay by bank offerings become more prevalent, for example, and new innovations launching to meet rising consumer demand for speed, security and a better payments experience.

The enterprise fintech stack

Stitch was built to make it easier for businesses to connect to the financial system and move money wherever it needs to go. Today we solve even more payments needs for the enterprise businesses we serve. Our team becomes an extension of our clients’ teams, offering high touch customer support and building custom, co-created solutions. Our growing roster of payment methods and tools allows our clients to continually remain at the forefront when it comes to the way they accept and move money. 

Here’s a (non-exhaustive) look at just a few of the integrations and partners that enterprise businesses operating in South Africa might rely on, and where Stitch fits into the fintech stack.

Anatomy of an Enterprise Tech Stack – 25.07.2023-v2.png

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