Morocco leads the way in hi-tech financial services | The Financial

A success story from Morocco’s “burgeoning” hi-tech industry:

The FinancialWhile Casablanca usually conjures images of Humphrey Bogart and Ingrid Bergman, these days the coastal Moroccan city is increasingly known for something else entirely: a burgeoning hi-tech industry. At the heart of the city’s tech industry lies Casablanca Nearshore Park, a modern business park housing over a hundred multinational companies including IBM, Dell and HP. It is here, too, that S2M is based, a Moroccan company that has been specializing in payment solutions since 1983. Employing over 180 people, S2M offers payment solutions software for financial institutions, as well as a range of related production services.

Its manufacturing centers, which are certified by Visa and MasterCard, produce personalized credit cards, check books, bills and statements for banks’ customers. Their software products are used by financial institutions to manage payments, according to EBRD.

The company pioneered the use of magnetic bank cards in Africa and today their services are used by more than a hundred private and public institutions in thirty countries across Africa, Asia and Europe…[Full Story]



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