Standard Bank to invest in new financial technology opportunities

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Motive Partners is set to enter into a partnership with the South African bank Standard Bank with an aim to accelerate Standard Bank’s agenda, growth and value prospects.

Larry McCarthy, Executive, Strategic Investments and Alliances, Standard Bank, commented, “Standard Bank welcomes the opportunity to join the Motive Labs syndicate in partnering and collaborating with leading financial institutions in order to contribute to our core and competitive disruptiveness in furthering our Africa journey.”

According to the supplier, Motive Labs’ model will allow the bank to utilize technologies in a bid to power its efficiency, adherence to regulatory requirements, identification of opportunities and addition of value-services to its business line.

Alberto Corvo, CEO of Motive Labs, commented, “I am delighted to welcome Standard Bank into our ecosystem. It is an honour to partner with the continent’s leading financial institution and our team are extremely excited to begin working together on a number of identified opportunities. We could not have asked for a better partner in Africa. With over 30 countries now represented by partners in our ecosystem, we are intensely focused on delivery of new technologies. Our most recent innovation milestone will be announced soon and is something we and our partners are very proud of.”

With the new partnership, Standard Bank joins the Motive Labs’ Membership Alliance consisting of strategic partners Allied Irish Bank, Bradesco, Emirates NBD, Mastercard & Royal Bank of Scotland. This alliance focuses on startup collaborations, innovations and financial sector disruptions.