Technology | Data & Financial Inclusion

Standard Bank Selects Flutterwave to Drive Digital Transformation Efforts across Africa

Nov 10, 2021   •   by   •   Source: Proshare   •   eye-icon 3219 views

Monday, November 10,2021/06:20AM/Standard Bank Group/Header Image Credit: Standard Bank Group


Standard Bank customers in nine African countries to enjoyenhanced digital payments experience in partnership with Flutterwave. Standard Bank, Africa's largest bank byassets, has partnered with Flutterwave, Africa's leading payments technologycompany, to enhance digital payments experiences for its customers in Nigeria,Zambia, Tanzania, Uganda, Ghana, Mauritius, Cote D'Ivoire and Malawi.Flutterwave and Standard Bank are collaborating to build e-commerce, cardissuing, payments, collections, USSD, lending, and buy-now-pay-latercapabilities for millions of Africans. 

The integration will help customers includingindividuals, SMEs, large companies and institutions to fully leverage the powerof digital payments and e-commerce to grow their businesses. 

Proshare Nigeria Pvt. Ltd.

The COVID-19 crisis has changed how people buy andsell across Africa - enabling a massive shift to digital payments ande-commerce. According to Statista, digital responses were key to improvingservices within several sectors such as business, healthcare and education. Ashift to digital payments accounted for 33% of all COVID-19 responses bygovernments and the private sector of Sub-Saharan African countries in2020.  


Institutions, businesses and individuals continueto think of ways to reach their customers using digital channels. With thispartnership, Standard Bank will provide agile tech solutions to itscustomers to help them grow their businesses online and offline. Thispartnership denotes the unique collaborative relationship that exists betweenbanks and fintechs across Africa where the customers' needs and satisfactiontake utmost priority.


Commenting on the news, Olugbenga GB Agboola,Founder and Chief Executive Officer of Flutterwave said: "We are proud thatFlutterwave's white label services power digital efforts for top banks inAfrica. Our partnership with Standard Bank demonstrates that fintechs and banks are notcompetitors but trusted partners with the key focus being the customer. We planto grow financial and digital inclusion through this partnership and in thelong run, we expect to generate more jobs in the digital economy and enablerapid business growth across the continent".


Dr. Demola Sogunle, Chief Executive Officer,Stanbic IBTC Holdings, a member of the Standard Bank Group, reinforced the importance of thepartnership to Stanbic IBTC's customers. He said: "Inits over three decades of existence, Stanbic IBTC has a rich heritage ofserving customers and contributing to the growth of the Nigerian economy. AtStanbic IBTC, we see Nigeria as our home and we drive her growth. The selectionof Flutterwave as our digital transformation partner reflects our resolve todeliver real impact and opportunities to our various customers. It is also areflection of our mission to adopt digital strategies to improve our servicesand processes, being an innovation-driven financial institution."

Proshare Nigeria Pvt. Ltd.

Also speaking during the announcement, Eric Fajemisin, Head, Wholesale Clients, Stanbic IBTC Bank said: "One of the mandate on our evolution to a client segment-led organisation is to partner with trusted partners in our ecosystem to meet our clients' needs. This partnership with Flutterwave is one that gives credence to that and enables us connect with our clients via digital platforms further reiterating our well-earned status as their partner as they also transform within their businesses." 


Commenting on the benefits of the Flutterwave partnership to the financial institution's customers, Olu Delano, Head, Client Coverage, Stanbic IBTC Bank, stated: "Our collaboration with Flutterwave is a testament to a renewed drive and focus on our future-ready transformation ambition. With our clients as the focus and center of this partnership, we are building a platform and payment system to support our customers and their targeted ecosystem across Africa, ultimately delivering exceptional service and enhancing customer experience.

 Proshare Nigeria Pvt. Ltd.

Related News

1.      Standard Chartered Bank Deepens Wealth Management in Nigeria, with Bank More Score More

2.     Standard Chartered Launches Smart Business Loan (SBL)

3.     Standard Chartered Bank Reports its Highest Half-Yearly Operating Profit for Five Years

4.     Standard Chartered Bank Nigeria Limited launches Easy Payment Plan (EPP) for Credit Card Users

5.     Standard Chartered Commits USD 200m Facility for AU COVID-19 Vaccination Programme

6.     Standard Chartered launches new Sustainable Supply Chain Benchmarking Tool

7.     Standard Chartered and Visa Collaborate to Offer 360 Rewards on eCommerce Transactions

8.     Standard Chartered grants COVID-19 Relief measures to Clients

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Get the App

apple-store  play-store

Connect with us

Proshare is a professional practice focused on delivering research and information services to bridge the gap between investors and markets; by delivery on credible, reliable, and timely engagements through the following areas — Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations & Digital Media.