Lithuania-based digital banking systems integrator Velmie has partnered with fintech start-up Flot to launch a new digital banking platform for consumers and businesses across Africa, as competition in the continent’s neobank sector intensifies.
The partnership aims to address persistent challenges facing African fintech operators, including fragmented payment ecosystems, complex mobile money integrations, regulatory compliance requirements and difficulties scaling digital banking products beyond the minimum viable product stage.
Velmie said fintech companies are increasingly seeking execution partners capable of handling end-to-end implementation across banking infrastructure, payments, compliance and digital channels, rather than focusing solely on software development.
Under the agreement, Flot will use Velmie’s integration-first delivery model to accelerate the rollout of its digital banking platform.
The platform will include payment infrastructure, card issuing, KYC and AML workflows, mobile money integrations and digital banking channels designed for production-scale deployment.
According to Velmie, the platform is being developed specifically for African market conditions, with support for mobile-first banking experiences, agent-driven financial networks, hybrid payment systems and localised financial infrastructure.
The solution is expected to support a range of business-to-consumer and business-to-business financial services, including digital wallets with onboarding and identity verification, virtual and physical card issuing, mobile money transfers, merchant payment collection, utility payments, airtime top-ups, bank transfers, account linking and agent banking services.
Velmie operates as a services-led delivery partner, providing solution architecture, integration management, implementation, go-live support and operational services for regulated fintech programmes.
“Launching regulated fintech products in African markets requires more than software — it requires execution capability across integrations, compliance, payment rails and operational delivery,” said Slava Ivashkin, CEO and founder of Velmie.
“With Flot, we are helping deliver a scalable digital banking platform designed to operate reliably in complex, multi-market environments.”
Velmie said growing competition in Africa’s fintech sector is increasing the importance of infrastructure readiness and execution capability for fintech operators, electronic money institutions and digital banking platforms expanding across the continent.
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