JUMO Joins FINASA to Support the Growth of Digital Banking Infrastructure in South Africa
- FINASA
- 19 hours ago
- 3 min read
One of Africa’s largest banking infrastructure providers joins South Africa’s fintech industry body to support collaboration, regulatory engagement and the growth of digital lending and embedded finance. One of Africa’s largest banking infrastructure providers joins South Africa’s fintech industry body to support collaboration, regulatory engagement and the growth of digital lending and embedded finance.
Cape Town, South Africa – 3 August 2026
JUMO, the technology company behind more than 310 million customer loans across Africa, has joined the Fintech Association of South Africa (FINASA) as an Enterprise Member, adding one of the continent’s most established infrastructure providers to the association’s membership base.
The membership comes as South Africa’s credit and payments markets face growing pressure to extend affordable products to underserved consumers and small businesses, with regulatory attention increasingly focused on affordability, responsible data use and the role of AI in lending decisions.
JUMO provides the plug and play infrastructure that banks, mobile network operators and payments providers use to build and run data driven financial products that meet all these pressing needs. Its AI driven banking as a service platform replaces legacy core banking builds, allowing partners to launch products such as SME lending and embedded finance without the capital cost and long lead time of building in house. JUMO’s team works across 15 countries on three continents, and 80% of Africa’s top banks and payments companies work with JUMO.
“The work we do at JUMO to provide enabling infrastructure for banks to deliver financial services to new markets within their own digital ecosystems, or with e-money and payments partners, is founded on strong credit risk predictive models, fine-tuned over time,” says JUMO CEO Paul Whelpton. “We’ve worked to achieve 99% prediction accuracy on assets managed, which offers certainty on returns for banks. We’ve also worked to reduce the price of financial products for customers by 47% since our founding.”
Through its FINASA membership, JUMO will take part in industry discussions covering banking infrastructure, digital lending, AI governance in credit, payments modernisation and regulatory development in South Africa and across the continent.
"As South Africa’s fintech ecosystem continues to mature, the infrastructure layer is where much of the most consequential work is happening. JUMO brings more than a decade of experience building and running that infrastructure at scale across African markets, and that operational depth strengthens the input we are able to take into conversations with regulators and policymakers. We are pleased to welcome them into the FINASA ecosystem and look forward to the role they can play in shaping how banking infrastructure develops in South Africa and across the continent." said Danielle Lawrence, COO of FINASA.
ABOUT FINASA
The Fintech Association of South Africa (FINASA) is the national industry body representing South Africa’s fintech ecosystem. FINASA works with fintech companies, financial institutions, regulators, investors and ecosystem partners to advance innovation, support industry collaboration and promote financial inclusion. Through advocacy, stakeholder engagement, working groups, research and industry events, FINASA helps shape the future of financial services in South Africa.
ABOUT JUMO
JUMO’s technology platform enables banks to offer a new generation of digital credit and savings products to millions of entrepreneurs in Africa. JUMO works with partners, such as banks, e-money operators and payments providers. The results allow banks to reach more customers, save money and achieve higher returns and greater scale.
Since its founding in 2015, JUMO has enabled the disbursement of over $10 billion worth of loans in Ghana, Kenya, Tanzania, Zambia, Uganda, Côte d’Ivoire, South Africa, Benin and Cameroon. This has resulted in 40 million new customers for the continent’s leading banks. With unmatched speed to market and low infrastructure costs, JUMO aims to bring banking to everyone, everywhere, at any time.
MEDIA ENQUIRIES
Fintech Association of South Africa (FINASA)
Monique Jafery
Comments