Standard Bank which is the largest bank in Africa, joins several innovation-oriented financial services companies as INV Partners. The partnership will open up the African Fintech space for INV’s startups.
As part of its agreement, Standard Bank will participate in the accelerator activities of INV Fintech, including considering startups in the accelerator for investment, market trials and/or acquisition and also provide mentorship to startups in the INV accelerator.
Peter Schlebusch, Standard Bank Group Chief Executive of Personal and Business Banking commenting on the partnership said: “We are excited to partner with INV Fintech in their accelerator program. In a world that changes at an incredible pace, exposure to new start-ups and emerging technologies enables Standard Bank to learn and expose Africa to new technologies to drive her growth.”
Meanwhile, JJ Hornblass, Principal, IN Fintech said: “We are extremely proud to welcome Standard Bank to INV. Standard offers INV an invaluable path to the African financial services market, which has embraced mobile finance. We welcome the opportunity to seize on this dynamic emerging market, with Standard’s skilled guidance.”
INV Fintech is an initiative of Bank Innovation and Fiserv which was launched in 2015 to cultivate financial services startups around the world.