• Open banking – Rethinking access to credit in banking services

    Introduction Banks, Fintechs, and other financial institutions have traditionally relied on internal customer and transactional data as well as credit scores/reports from credit bureaus for credit risk assessment. In developing these credit scores and reports, Nigerian credit bureaus have aggregated and leveraged data from financial institutions to conduct their risk assessment. However, the credit bureaus …

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  • Open Banking Annual Report

    Open banking signals a remarkable shift in the business of banking. It embodies a creative disruption of the banking business, leading to a rearrangement of priorities and focus on consumer needs and changing expectations, leveraging data in a system built on open APIs.  At its core, open banking aims to simplify the way customers interact …

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  • Open Banking: Redefining customer-centricity (An Open Banking Nigeria perspective

    Traditionally, most financial products and services were designed without consulting customers or truly understanding their peculiar needs. Product designs and features were rather focused on what technology can do – highlighting new features and innovation which may not address the core of customer needs. Hence, the idea of placing the customer at the centre of …

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