Standard Bank works with Africa’s fintech entrepreneurs to deliver improved ease of access, convenience and affordability for our clients, while boosting process efficiency, mitigating risk and reducing costs for the bank. We partner with thirdparty service and product providers to ensure our clients have everything they need in one place, while ensuring the security of our clients’ data.
We established the Standard Bank Moonshots division in 2017. It supports the establishment of new partnerships that drive growth and create jobs across Africa, while also generating new revenue streams for the group. The Moonshots team develops its own ideas and partners with innovative local and international businesses to deliver improved client solutions.
In 2018, Standard Bank became the first investor in Founders Factory Africa, a South African company operating across Africa to deliver accelerator and incubator services. Our partnership aims to build and grow over 100 disruptive tech start-up companies across Africa over five years. In 2018 we received over 500 applications from fintech entrepreneurs. In 2019, after a rigorous screening and selection process, we selected the first five businesses to receive investment.
Founders Factory Africa has committed to growing these businesses through a six month acceleration, which includes specialised tailored support. The firms will also have access to global capital, talent and knowledge transfer through the Founders network, which includes world class entrepreneurs, investors, corporates and successful startups across Africa, Europe, the UK and the US.