Flutterwave Acquires Mono to Deepen Open Banking Across Africa
Hey FinTech Fanatic!
Flutterwave has acquired Mono, strengthening its payments infrastructure and making open banking a core pillar of its long-term strategy across Africa.
The move points to a broader shift... Africa’s next payments phase looks less card-led and more bank-based, authenticated, and data-driven. Open banking becomes the connective layer.
By integrating Mono’s APIs, Flutterwave expands into faster onboarding, better verification, reduced fraud, and seamless account-to-account payments. It also opens the door to richer alternative payment methods and stablecoin use cases.
Mono will continue to operate independently, with no changes to leadership or day-to-day operations. The focus here is strategic alignment, not operational control.
Flutterwave CEO Olugbenga 'GB' Agboola highlighted the strategy: "Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what's possible for businesses operating across African markets."
Now, keep an eye on where FinTech is heading and dive into today’s updates 👇 I'll be back in your inbox tomorrow!
Cheers,
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