Banks in Africa are beginning to understand that partnering with tech startups is a smart way to innovate and stay relevant for their customers.
Examples of this are present throughout the continent, with traditional banking institutions working together with fintech firms for mutual benefit.
Sectors such as mobile payments, remittance and alternative finance have been significant growth areas for African fintech startups.
Other sectors such as online trading, wealth management and insurance are also enjoying the emergence of disruptive fintech startups that are challenging the dominance of traditional financial institutions in those sectors.
As a result, these banks are more willing to partner with fintech startups for the sake of innovation.
Here are 10 ways in which African Banks are partnering with tech startups to innovate.
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