Financial Services Transformation
Johannesburg, 1st August 2022 - Today, certified SAP and SAP Fioneer partner bancon announce the completion of their domestic merger with Thought Advisory South Africa, a move that strengthens bancon’s position as the go-to SAP Financial Services specialists in the Southern African region.
Thought Advisory was founded in 2018 by Walter Norris and Theunis Greeff whose strong implementation and strategic capabilities secured clients such as Standard Bank, Discovery Health and Discovery Bank. As part of the merger, Thought Advisory will become part of bancon with Norris and Greeff taking on senior leadership roles within the Southern African organisation.
Jörg Mauelshagen, Co-Founder and Group Director of bancon comments, “This is an exciting day in bancon’s history. Having known and respected the Thought Advisory team over many years, I’m delighted that we have combined our skills and expertise to create a robust, compelling service offering that delivers cost-effective solutions for mid-market and large financial institutions alike across Southern Africa.
I would also like to extend a warm welcome to the incredible talent from Thought Advisory who are becoming part of the bancon family.”
The merge significantly increases bancon’s footprint and capability across Southern Africa with the team already working on opportunities in SAP Core Banking and Payments, S/4HANA Loans Management (CML) and S/4HANA Finance.
Theunis Greeff, Managing Director, Financial Services, Southern Africa at bancon comments, “What’s so exciting and what makes this offering so unique is the scalability it gives existing SAP & SAP Fioneer clients. The market has been missing a niche specialist partner that had access to local expertise at scale. Southern African clients now have closer contact with SAP AG and SAP Fioneer and the conversations we’ve been having and the opportunities that have arisen, proves that our shared values and strategic vision is answering a very real need for financial institutions in this region.
bancon is well known amongst industry peers for having an internal culture people love being part of, so we’re very excited about joining the family and can’t wait to see our combined potential realised.”
Bradley Jarrett, Group Director, Financial Services at bancon comments, “The reaction from the community has been incredible. We knew there was a real business need for this merge, but what we’re seeing and hearing from our existing and prospective Southern African clients is that our fresh approach, local presence and dynamic service offering is thoroughly appreciated and bringing something unique and necessary to the market.
I’d like to also give a warm welcome to all our new banconeers along with their respective clients’’.
bancon South Africa will re-headquarter in the financial district of Sandton, Johannesburg taking up residency in the Atrium on 5th. bancon will retain its office in Hout Bay, Cape Town, that will continue to be the primary base for our Data Transformation team.
Thought Advisory New Zealand remains a separate entity and will join bancon Group later this year.