Africhange has achieved two major milestones that strengthen its position as a global fintech brand focused on serving Africans abroad. The company has launched fully functional UK bank accounts through a partnership with Griffin, a licensed UK bank, and has also secured registration as a Payment Service Provider under the Bank of Canada’s new regulatory framework.
Through its collaboration with Griffin, Africans living in the UK can now open GBP-denominated accounts with unique sort codes and account numbers. These accounts provide full banking functionality, including the ability to deposit, hold, and transfer funds through the UK’s Faster Payments Network. Users will also enjoy savings options and protection under the UK’s Financial Services Compensation Scheme.
According to Africhange’s leadership, the company’s goal extends beyond facilitating money transfers. It aims to become a complete financial partner for Africans abroad by addressing the unique challenges immigrants face when trying to access reliable financial services. Griffin’s leadership also noted that this partnership seeks to eliminate the barriers that prevent newcomers from obtaining basic banking services in the UK.
Africhange is already planning new features to complement this launch. A “Send Now, Pay Later” product is set for release in 2026, allowing users to send money instantly and complete payment later. The company also intends to introduce a debit card that will enable easy spending and withdrawals across the UK and beyond.
In Canada, Africhange has been recognized among the first 300 companies to receive full registration as a Payment Service Provider under the Retail Payment Activities Act. This new framework, established by the Bank of Canada, ensures that registered firms meet high standards of operational integrity and financial safety. Africhange’s inclusion followed an extensive review process, including national security assessments and compliance checks.
Before this new registration, Africhange had been listed with FINTRAC as a Money Services Business since 2019. The new designation places the company directly under the supervision of the Bank of Canada, signaling stronger regulatory oversight and increased confidence in its operations.
This dual achievement positions Africhange as a trusted player in the global fintech landscape. For Africans in the UK, it opens doors to proper banking access rather than limited remittance options. For Canada, it reinforces the country’s commitment to modernizing payment systems while encouraging innovation in the fintech space. And for Africhange, it represents a major step forward in its mission to simplify cross-border financial access for the global African community.