In March 2021, Flutterwave, one of Nigeria’s Fintechs, raised a Series C funding of $170M, at a $1 billion valuation. Flutterwave became the second Fintech in Nigeria to reach a $1 billion valuation after Interswitch, which reached a $1billion valuation in 2019 when Visa acquired a 20% stake in the company.
As the Open Technology Foundation (OTF) continues to drive the adoption of Open Banking Standards in Nigeria through strategic partnerships with banks and fintechs in the country’s financial sector, more fintechs and banks have recently joined to further champion the Open Banking cause in Nigeria.
A couple of years ago, every Nigerian household made the monthly trip to the bank or electricity provider company, cash in hand, with their bill …
With the many changes in the banking sector and the country as a whole, Open Banking seeks to bridge the gap between banks and fintechs …
Open banking represents a shift – a movement from closed models to open systems that promote optimal value for both end-users and businesses alike. The …
Two decades ago, if you wanted to deposit money, pay bills or access a range of financial services, the bank would have been the only …
Open Banking API Standard is brought to you by the
Open Technology Foundation, an NGO backed by a
group of industry experts across banking, fintech, risk
management, and more.
Together, we are building a common standard for
Open Banking APIs in Nigeria.
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