CR2 (company)

CR2
Company typePrivate
IndustryComputer software
Founded1997
HeadquartersDublin, Ireland
Area served
Worldwide
ProductsBankWorld
Number of employees
190
Websitewww.cr2.com

CR2 is an Irish-owned banking software company which provides mobile, internet and ATM financial service technology to more than 100 retail banks across Africa, the Middle East and Asia.[1][2] Headquartered in Dublin, Ireland,[3][4] the company has offices in Dubai, London, Cairo, Amman, Bengaluru, Lagos, Johannesburg, Singapore and Perth.[5] Its customers include ANZ, Barclays, Standard Chartered, Botswana Savings Bank, Jordanian Bank al Etihad,[6] pan-African bank Orabank,[7] and Nigeria’s Access Bank plc[8] and Diamond Bank.[9]

History

[edit]

Founded in 1997 by two former Kindle Banking Systems directors,[10] and part of the fintech portfolio of Ireland's state economic development agency Enterprise Ireland, CR2 is an Irish software company that provides banking products and services to financial institutions in emerging markets.[11]

By 2000, after a series of venture capital cash injections and investment from directors, and the acquisition of London-based Interlink for £10m [12] and was valued at more than $27m.

With investors backing CR2 to the value of €34.5 million since its foundation in 1997, the company emerged from the Dot-com bubble crash of late 2000/early 2001, to report an increase in revenue by posting a turnover of €16.4m in 2002.[13]

An additional R&D funding round to the value of €10m was completed in 2005.[14]

By 2012, the company was placed on the market with a value of more than €60m.[15]

In May 2024, HPS announced the acquisition of CR2 for an undisclosed sum.[16]

BankWorld

[edit]

CR2 is best known for its digital banking platform, BankWorld.[17] It features mobile and internet technology for retail and corporate customers; integrated ATM technology with switch, card management, production, monitoring, screen design, support tools as well as POS (or point of sale) acquiring and payment systems; SMS push and pull and USSD; with APIs that enable third-party channel integration and innovation.[18]

Awards and recognition

[edit]
  • Ovum Ltd, the independent, analyst and consultancy firm, recommends CR2's digital product offering in its published report of August 2016.[19]
  • CR2 recognised for delivering ‘Excellence in Channel Banking Software Solutions’[20] at the New Age Banking Awards, 2018 [21]

References

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  1. ^ "Banking Solutions". icl.bw. Archived from the original on May 25, 2018. Retrieved June 12, 2018.
  2. ^ silicon (June 12, 2018). "CR2 in Middle East bank deal - Companies | siliconrepublic.com - Ireland's Technology News Service". Silicon Republic. Retrieved June 29, 2018.
  3. ^ "CR2 | Park West". Park West. Retrieved 2018-06-29.
  4. ^ "CR2 Competitors, Revenue and Employees - Owler Company Profile". owler.com. Retrieved June 29, 2018.
  5. ^ "Omnichannel Banking Worldwide Offices". CR2 EN. Archived from the original on June 29, 2018. Retrieved June 29, 2018.
  6. ^ "Ireland's FinTech Map". Ammeon.
  7. ^ "Orabank met le cap sur la banque en libre-service Republic of Togo". www.republicoftogo.com. Retrieved September 12, 2018.
  8. ^ "CR2 | CR2". Access Bank Nigeria to modernise ATM, Internet and Mobile banking channels with CR2’s BankWorld. Archived from the original on 2016-04-09. Retrieved 2019-06-14.
  9. ^ "CR2 Unveils New CEO and CFO Finnovate". Finnovate. Retrieved September 16, 2018.
  10. ^ "CR2 raises further $7.5m in funding for R&D - Independent.ie". Irish Independent. Retrieved June 26, 2018.
  11. ^ "Ireland's fintech ecosystem-Silcon Republic". siliconrepublic.ie.
  12. ^ "CR2 buys UK firm for £10m -Irish Independent". irishindependent.ie.
  13. ^ "CR2 cuts losses to €6 million, predicts profits in 12 months". Irish Times.
  14. ^ "CR2 secures EUR10m funding -Finextra". fixextra.com.
  15. ^ "Dublin banking software firm CR2 goes on the block-the.times.co.uk". The Times (UK).
  16. ^ "HPS acquires CR2". HPS Corporate Announcement.
  17. ^ "Gartner Peer Insight". gartner.com. Retrieved September 29, 2018.
  18. ^ "CR2 BankWorld". softwarereviews.com.
  19. ^ "On the Radar: CR2 provides a sophisticated channel offering for Internet, mobile, ATM, and kiosks". Ovum.
  20. ^ "CR2 recognised for delivering 'Excellence in Channel Banking Software Solutions". Business Day (Nigeria).
  21. ^ "Mobile money: Banks only have to cooperate or compete with telcos, says CR2". Vanguard (Nigeria).
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