Business accounts are provided by CBN-licensed partner banks (Wema Bank, Providus Bank) via Anchor, a licensed banking-as-a-service provider.
Banking partners
Financial services through licensed partners.
Klovo is a financial technology company, not a bank. Banking, payments, identity, and (in future) credit services are provided through appropriately licensed partners.
How Klovo is licensed
Who's actually holding the licenses.
Collections and payouts are routed through regulated payment providers, with reconciliation handled server-side against the ledger — never recomputed on the client.
Payments partners
KYC, KYB, AML, audit logs, provider controls, and policy enforcement are owned and enforced on Klovo's backend, not exposed to the client.
Compliance
Regulatory statement
Klovo Technologies Ltd. is a financial technology company. It does not hold a banking license and does not directly custody customer funds — funds are held at, and regulated as deposits of, our CBN-licensed partner banks.