Flutterwave CEO on why African fintechs want to become banks
- Flutterwave secured a national microfinance banking license through the acquisition of Mono.
- Paystack acquired Ladder Microfinance Bank, while Moniepoint secured a microfinance banking license in 2025.
- Flutterwave has processed over $40 billion in lifetime payments.
Flutterwave's strategic move into banking and lending reflects a significant shift in the fintech landscape, where controlling payment infrastructure is crucial for enhancing customer experiences. This trend may lead to increased competition between fintechs and traditional banks, ultimately benefiting consumers through improved services and options.
