Fintech Insider Podcast by 11:FS 1028. News: Flutterwave buys Mono, PicPay files for a US IPO, and Jamie Dimon is ready to share JPMorgan’s ‘secret sauce’
Jan 12, 2026
Sarah Kocianski, a fintech consultant, joins Benjamin Dada, founder of Condia, and Miguel Armaza, General Partner at Gilgamesh Ventures. They explore Flutterwave's acquisition of Mono and its implications for Nigeria's open banking landscape. JPMorgan’s new Special Advisory Services initiative aiming to enhance client relations and highlight its AI expertise sparks debate. The trio also discusses PicPay's recent US IPO filing and the rapidly evolving Brazilian fintech ecosystem, alongside thoughts on Mercury's pursuit of a national bank charter.
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Open Banking Is Africa’s Connective Tissue
- Flutterwave's acquisition of Mono signals a bet that open banking will be the connective tissue for Africa's next fintech growth phase.
- Adoption faces regulatory and technical hurdles like screen-scraping and account-vs-person linkage issues.
Hybrid Open Banking In Nigeria
- Nigeria uses a hybrid open-banking approach combining regulatory frameworks with market-driven API access.
- Cross-border expansion raises extra regulatory complexity beyond Nigeria's 2021 framework.
Account Connections Don't Equal Users
- Mono's claimed reach may overstate individual adoption because connections count accounts, not people.
- That skews traction metrics and complicates market sizing for Nigerian open-banking players.