Standard Bank partners with US FinTech accelerator

Standard Bank has joined the US-based INV FinTech accelerator programme as a partner in order to open up the African FinTech market for programme participants startups.

Established in 2015 through a partnership between financial services firm Fiserv and financial technologies news platform Bank Innovation, INV is an accelerator for post-seed-stage FinTech startups that offers two annual classes to advance their valuation and product set.

Standard Bank will participate in all accelerator activities, offering mentorship and investing on a case-by-case basis.

"We are excited to partner with INV Fintech in their accelerator programme," said Peter Schlebusch, Standard Bank Group chief executive of personal and business banking.

"In a world that changes at an incredible pace, exposure to new startups and emerging technologies enables Standard Bank to learn and expose Africa to new technologies to drive her growth."

"We are extremely proud to welcome Standard Bank to INV," said JJ Hornblass, principal at INV FinTech. "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."