Standard bank to improve customer's experience with Flutterwave

Standard Bank partners Flutterwave to enhance digital payments experiences for its customers across Africa.

Inclusion Times
Inclusion Times

Digital payments are slowly becoming the norm in Africa. According to Statista reports, digital responses were key to improving services within several sectors such as business, healthcare, and education. A shift to digital payments accounted for 33% of all COVID-19 responses by governments and the private sector of Sub-Saharan African countries in 2020.

With this kind of statistics, you will not be wrong if you suggest digital payments is the future. Standard Bank knows this and has teamed up with Flutterwave, one of the leading payments fintech in Africa.

According to reports, Standard Bank, one of Africa’s largest banks by assets, has partnered with Flutterwave, a Nigeria-based fintech unicorn and one of Africa’s leading payments technology companies, to enhance digital payments experiences for its customers across Africa. With this partnership, Standard Bank is set to provide agile tech solutions to its customers to help them grow their businesses online and offline.

This partnership denotes the unique collaborative relationship between banks and fintech across Africa, where customers’ needs and satisfaction are prioritised.

What they are saying

“We are proud that Flutterwave’s white-label services power digital efforts for top banks in Africa. Our partnership with Standard Bank demonstrates that fintechs and banks are not competitors but trusted partners with the key focus being the customer. We plan to grow financial and digital inclusion through this partnership and in the long run, we expect 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.

From right to left: Flutterwave CEO Olugbenga GB Agboola, Margaret Nienaber, CEO of Client Solutions at Standard Bank and Yinka Sanni, CEO of Africa Regions at Standard Bank.|Source: ItnewsAfrica

According to Margaret Nienaber, CEO of Client Solutions at Standard Bank, who spoke during the announcement, this partnership marks an important step in Standard Bank’s platform journey expanding from its leadership position in traditional financial services to meet clients on the digital platforms where they are shopping, socialising and doing business.

“Partnerships with innovative fintechs like Flutterwave underpin our strategy by integrating our scale and expertise across the African continent with the services and offerings of our partners to offer an expanded range of solutions, delivered in a seamless manner to our clients,” Nienaber adds.

Both entities are building e-commerce, card issuing, payments, collections, USSD, lending, and buy-now-pay-later capabilities for millions of Africans. The integration will help customers, including individuals, SMEs, large companies, and institutions to fully leverage the power of digital payments and e-commerce to grow their businesses.

Nigeria in focus

GDP: $432.294 billion in 2020 compared to $448.12 billion in 2019

Population: 206,139,587 in 2020 compared to 200,963,03 in 2019

GDP per capita: $2,097 in 2020 compared to $2,229 in 2019

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