Nigerian fintech startup Duplo has partnered with Wema Bank to offer its financial operations software through ALAT Business, the bank’s digital banking platform for businesses. The partnership will enable customers to automate payments, manage expenses, generate invoices, monitor cash flow and reconcile transactions from a single dashboard. Existing ALAT Business users will enjoy three months of free access before moving to a subscription model.
Duplo Chief Executive Officer, Yele Oyekola, said the collaboration reflects a growing trend in Africa’s financial sector where banks partner with fintech firms to provide specialised software without building the technology themselves. He added that the company plans to replicate the model with other banks as demand for digital financial management tools continues to grow.
Founded in 2021, Duplo currently serves more than 1,000 businesses, including major firms such as Heineken and Maersk, and processes over one billion dollars in annual payment volume. The company has expanded its services beyond payment automation into treasury management, expense management, international vendor payments and financial reporting, while targeting profitability by 2027.
The partnership also strengthens Wema Bank’s digital banking offerings and highlights the increasing collaboration between banks and fintech companies across Africa. While banks provide regulated infrastructure and customer access, fintech firms like Duplo deliver specialised business software, creating a model that could become a major growth channel for both industries.