Standard Bank, Africa’s largest bank in terms of assets, has partnered with Flutterwave, Africa’s leading payment technology company, internal group sources reported Thursday (October 28th). The main objective of this initiative is to improve the digital payment experiences of its customers in Nigeria, Zambia, Tanzania, Uganda, Ghana, Mauritius, Ivory Coast and Malawi.
The two entities are working together to create e-commerce, card issuance, payments, collection, USSD, loan and buy-now capabilities for millions of Africans.
The integration will need to help customers, including individuals, SMEs, large enterprises and institutions, to take full advantage of the power of digital payments and e-commerce to grow their businesses.
“We are proud that Flutterwave’s white label services are fueling the digital efforts of top banks in Africa. Our partnership with Standard Bank demonstrates that fintechs and banks are not competitors but trusted partners whose primary focus is the customer. We plan to develop financial and digital inclusion through this partnership and, in the long term, we plan to generate more jobs in the digital economy and enable rapid business growth across the continent, ”said Olugbenga GB Agboola, Founder and CEO of Flutterwave.
For her part, Yinka Sanni, Managing Director Africa Regions at Standard Bank, said: “Coupled with the innovation offered by Flutterwave, we can deliver real impact and growth opportunities to clients across the continent. We believe that when our customers grow, Africa grows. “