IT Consortium
- Company typePrivate
- Founded2001
- HeadquartersAccra, Ghana
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What IT Consortium does
IT Consortium is a Ghana-headquartered (3 Gem Street, East Legon, Accra) privately-held financial services technology provider operating across Ghana, Liberia, Rwanda, and Kenya. The company sells B2B enterprise software and transaction-processing services to financial institutions, merchants, public sector organizations, and educational institutions. Its core platform is Transflow, a multi-module financial services system that delivers mobile banking, informal savings and investments, informal lending solutions, bulk payment solutions, international remittance termination, informal pensions, and bill payments aggregation to banks and microfinance institutions. Complementary products include Retail Payments (R-Pay) and Mobile Standing Orders for merchants, Public Sector Payments for government, an education suite (OSIS, School Fees Collections, Online Voucher Sales, Online Applications), and Chango, a separate consumer-facing sub-brand for personal finance.
The underlying technology stack is a domain-specialized payments and transaction-processing platform with PCI-DSS certification (achieved July 2017) enabling secure handling of card-based data. Distribution relies on a direct enterprise field-sales motion, with named customers including Ecobank, GCB Bank, Fidelity Bank Ghana, ADB, Stanbic Bank, UBA, Zenith Bank, OmniBank, Vodafone Ghana, MTN Ghana, Ghana Statistical Service, National Insurance Authority, Hubtel, Prudential Ghana, and NewGold. Revenue is generated through annual quote-based enterprise software subscriptions plus transaction processing fees on bulk payments, bill aggregation, and remittance flows; pricing is not publicly disclosed. Strategic partnerships with MTN Ghana and United Pensions Trustees produced Ghana's first informal pension on mobile money in April 2020. No funding rounds, headcount, or financial metrics are publicly disclosed.
IT Consortium firmographics
Firmographics- Name
- IT Consortium
- Legal name
- IT Consortium
- Website
- https://itconsortiumgh.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
IT Consortium industry classification
Industry- Product category
- Financial Services Technology
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Management Services (8741)
- akta.pro primary industry
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
- akta.pro secondary industries
- Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), International Bill Pay & Cross-Border Airtime/Top-Up (FSAGAKAM)
Keywords
Where IT Consortium is headquartered
LocationHeadquarters
- HQ city
- Accra
- HQ country
- Ghana
- HQ region
- Africa
Offices1 record
Markets served
IT Consortium business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Enterprise Software Solutions: B2B software licensing and implementation services for financial institutions, providing mobile banking, payment processing, and transaction management platforms
- Transaction Processing: Processing fees from bulk payments, bill payments aggregation, and international remittance termination services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Custom enterprise pricing based on institution size and required modules |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels7 records
IT Consortium product offering
Product offeringCore offering
IT Consortium develops and licenses Transflow, a financial services technology platform that enables banks, microfinance institutions, merchants, government agencies, and educational institutions across Africa to deliver mobile banking, digital payments, bulk disbursements, international remittances, and bill aggregation. The company also offers OSIS for school administration and fee collection, R-Pay for merchant payment acceptance, and the Chango consumer finance sub-brand.
Product overview
IT Consortium is an African financial services technology provider offering a multi-product platform portfolio. The core offering is Transflow, a comprehensive financial services platform for financial institutions that includes modules for mobile banking, informal savings and investments, informal lending solutions, bulk payment solutions, international remittance termination, informal pensions, and bill payments aggregation. Complementary products include Retail Payments (R-Pay) and Mobile Standing Orders for merchants, Public Sector Payments for government organizations, and a suite of Education products (OSIS, School Fees Collections, Online Voucher Sales, Online Applications) for educational institutions. The company also operates Chango as a separate sub-brand for personal finance. The portfolio serves financial institutions, merchants, public sector organizations, and educational institutions across Africa, with operations in Liberia, Rwanda, and Kenya.
Differentiator
Problem solved
Functional benefit
Brands
- Transflow: Financial services platform providing solutions for financial institutions, merchants, and public sector including mobile banking, informal savings and investments, bulk payment solutions, and international remittance termination.
- Chango
- OSIS (Online Student Information System)
Products and services
- Transflow
Quantifiable outcome
- Ghana's first informal pension on mobile money platform launched through partnership with United Pensions Trustees and MTN
Companies that use IT Consortium
Customer profileNamed customers15 records
Segments4 records
Ideal customer profiles4 records
IT Consortium technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
IT Consortium partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- MTN GhanacorePartnership with MTN Ghana to launch Ghana's first informal pension solution on mobile money platform, in collaboration with United Pensions Trustees. This landmark initiative addresses the pension coverage gap for informal workers who constitute the majority of Ghana's labour force.
- United Pensions TrusteescoreStrategic partnership to deliver Ghana's first informal pension solution accessible via mobile money, enabling informal sector workers to save for retirement through a digital platform.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
IT Consortium competitors and assessment
Company assessmentDirect peers
- TerraPay: Cross-border payments infrastructure provider enabling remittances and payouts to mobile wallets and bank accounts across emerging markets. Comparable to ITC's remittance termination and cross-border bulk payment offerings.
- Expresspay Ghana: Ghanaian fintech offering mobile money, payment gateway, and bill aggregation services to banks, merchants, and consumers. Directly comparable as a Ghana-market fintech infrastructure peer targeting similar banks and merchants.
- Cellulant: Pan-African digital payments platform serving banks, telcos, and merchants with mobile money, payment processing, and banking infrastructure across multiple African markets. Directly comparable to IT Consortium in product scope, target buyers (banks and telcos), and multi-country African footprint.
- Flutterwave: Pan-African payment processor enabling businesses and financial institutions to accept and process digital payments across multiple African countries. Comparable to ITC in cross-border payment infrastructure, financial-institution focus, and multi-country African footprint.
- Onafriq (formerly MFS Africa): Cross-border mobile money and remittance network connecting mobile wallets, banks, and financial institutions across Africa. Directly comparable to ITC's international remittance termination and bulk payments modules, with overlapping bank and telco customer base.
- Zeepay: Ghana-headquartered digital payments company offering mobile money interoperability, bill payments, and remittance services to financial institutions and merchants. A direct Ghana-market peer to IT Consortium with overlapping fintech infrastructure scope.
- Hubtel: Ghana-based payments and merchant services platform offering bill payments, mobile money, and merchant payment acceptance to consumers and businesses. Comparable to ITC's Ghana-anchored R-Pay, mobile standing orders, and bill payment aggregation products.
Broad incumbents
- Interswitch: One of Africa's largest payment infrastructure companies, providing payment processing, card issuing, and digital banking services to banks and enterprises across Nigeria and the continent. Closely comparable to ITC as a B2B payments and banking infrastructure provider serving Tier-1 financial institutions.
- Network International: Established Africa and MENA payment processor providing card processing, merchant acquiring, and digital banking infrastructure to banks and financial institutions. Overlaps with ITC in payment processing, fintech infrastructure, and bank customer base.
Emerging players
- JUMO: Pan-African fintech providing digital lending, savings, and credit infrastructure to financial institutions and mobile operators across Africa. Overlaps with ITC's informal lending and savings modules, serving similar bank and telco customers.
Market position
Strengths1 record
Competitive moat5 records
Key highlights6 records
Customer concentration
IT Consortium social profiles
Digital presenceIT Consortium compliance and trust
Trust signalCompliance1 record
IT Consortium financial estimates
Financial estimateRevenue estimate
Valuation estimate
IT Consortium leadership team
Management profileNumber of profiles
IT Consortium funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IT Consortium M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IT Consortium
What does IT Consortium do?
IT Consortium develops and licenses Transflow, a financial services technology platform that enables banks, microfinance institutions, merchants, government agencies, and educational institutions across Africa to deliver mobile banking, digital payments, bulk disbursements, international remittances, and bill aggregation. The company also offers OSIS for school administration and fee collection, R-Pay for merchant payment acceptance, and the Chango consumer finance sub-brand.
Is IT Consortium a public or private company?
IT Consortium is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was IT Consortium founded?
IT Consortium was founded in 2001. It employs 101 to 250 people.
Where is IT Consortium based?
IT Consortium is headquartered in Accra, Ghana, in the Africa region.
How does IT Consortium make money?
Two revenue lines are on record. Enterprise Software Solutions are the primary driver. The others are transaction Processing.
Who are IT Consortium's main competitors?
Direct peers on record are TerraPay, Expresspay Ghana, Cellulant, Flutterwave, Onafriq (formerly MFS Africa), Zeepay and Hubtel. Broad incumbents are Interswitch and Network International. JUMO is listed as an emerging player.
Does IT Consortium have an API?
No public API is recorded for IT Consortium.
What industry is IT Consortium in?
IT Consortium's product category is Financial Services Technology. Its primary akta.pro industry code is FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure, with a secondary code of FSAMAIAJ, Cross-Border Payouts & Mass Disbursements (Pay-outs). Its NAICS code is 518 and its SIC code is 8741.