Open Banking Blog

Stories, insights, and advice that will transform banking and finance for good

September 5 2022

If you were asked to explain the concept of Open Banking, how would you describe it in less than a minute? Watch Open Banking Nigeria Trustee, Adedeji Olowe, in 60 seconds simplify the term and why it has been important...

August 15 2022

Nigeria is undoubtedly in the lead with its open banking initiatives among African countries and other developing countries. Kudos to CBN!...

July 25 2022

Open Banking Nigeria Trustee, Adedeji Olowe and Head of content at Open Banking Expo, Ellie Duncan, recently sat down for a chat on the ‘Open Banking Expo Unplugged’ podcast. In the 25-minute podcast, Olowe tells how far Nigeria is from...

June 19 2022

The Central Bank of Nigeria (CBN) recently released the exposure draft of the operational guidelines of Open Banking in Nigeria which clearly stipulates the roles, responsibilities and expectations for each participant in the open banking system. The draft focuses on...

January 10 2022

Introduction The way we carry out financial transactions today is very different from what it used to be. At the moment, there are a lot of fintech companies and innovators constantly pushing the boundaries within the finance sector. These advancements...

October 11 2021

The conversation on Open Banking in Africa is one that has been a long time coming. While the benefits seem apparent at first glance, there’s a lot at stake for banks, fintechs, governments, and consumers. Open Banking uses secure application...

August 1 2021

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...

August 1 2021

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...

July 11 2021

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 slip and means of identification to pay their electric bills. It was a similar story...

June 20 2021

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 with standardized API access; where all banks share the same data and API taxonomy. It...

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