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...
May 30 2021
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 ecosystem is fueled by seamless exchange of data based on customer consent, nevertheless in a...
May 30 2021
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 place to turn to. But that has since changed with fintechs unbundling banking and offering...
May 24 2021
With millions of customers, banks and other fintechs hold a ton of customer data that they use to make all sorts of decisions. They collect identity cards, utility bills, signatures, and transaction records, which can create useful snapshots of customers...
May 9 2021
In March 2018, the Central Bank of Nigeria talked about its interest in an Open Banking system, which will open up the financial system and allow the transaction data that banks sit on to be accessible to other industry players....
April 11 2021
Opening the door to financial inclusion in Nigeria. On Wednesday, 24th of February, 2021, Open Banking Nigeria held a conference to discuss the theme “Open Banking as a key driver for financial inclusion in Nigeria.” Speakers at the event were:...
November 22 2020
Kuda Bank and Rubies, two of Nigeria’s foremost challenger banks, have become the latest stakeholders in Nigeria’s financial services ecosystem to join Open Banking Nigeria, the broad coalition advocating the adoption of open banking in the country. Kuda Bank and...
November 15 2020
by Adedeji Olowe and Khadija Abu Introduction Nigerians have increased the amount of money they save over the last 3 years. This, however, has not yet translated into a true savings culture for most Nigerians. Users and providers of financial...
October 14 2020
…reinforces commitment to innovation and customer satisfaction First City Monument Bank (FCMB), one of Nigeria’s leading financial institutions, is now a member of Open Banking Nigeria, an industry-focused non-profit body facilitating the advocacy, development, and adoption of a common standard for...
August 30 2020
by Ope Adeoye, Brendan Playford and Oge Okonkwo Introduction Nigeria has a huge credit gap, with lenders and borrowers facing a number of challenges which hinder the ease of providing and accessing credit. This credit gap has contributed to curbing...
March 21 2025
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.
