Open Banking Blog

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

June 26 2023

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)....

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...

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...

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 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...

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...

Read this next

Will OBN use FAPI

February 28 2025

January 31 2025