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How Charities and NGOs can benefit from Open Banking
Open banking serves as a remedy to this predicament and saves financial service providers like Mono from the headache of even considering embarking on this herculean task. The implementation of open banking standards mandates banks to provide statement and other financial data in a uniform fashion; either directly or through a middleware if their infrastructure cannot conform to this standard (yet). This eliminates the complexity that hinders seamless integration.
With over 250 Fintech Startups in Nigeria6, it is clear that Open Banking can serve the strategic objectives of many sub-verticals ranging from Lending to Personal Finance and from Agritech to Digital Insurance. Learn more here.
Open banking has revolutionized the financial services industry by promoting transparency, competition, and innovation. At the heart of this transformation lies the efficient flow of data and services through Application Programming Interfaces (APIs).
Underpinning every open banking regime is an API standard. Open Banking Nigeria is welcoming industry stakeholders to share their thoughts!
Open Banking goes live in Nigeria! Next steps after the Final Operational Guidelines release.
Open Banking Nigeria (Open Technology Foundation) is a non-profit backed by a group of industry experts across banking, fintech, risk management, and more to drive and launch the open banking standard in Nigeria.
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