Open Banking Blog

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

February 28 2025

John needs to sign up for a new budgeting app. Instead of creating yet another password, he sees an option to log in with Google. He clicks it, Google verifies his identity, and within seconds, he has access. No new...

October 3 2023

Open banking serves as a remedy to this predicament and saves financial service providers like Mono from the headache of even considering embarking on this herculean task. The implementation of open banking standards mandates banks to provide statement and other...

July 31 2023

With over 250 Fintechs in Nigeria, it is clear that Open Banking can serve the strategic objectives of many sub-verticals ranging from Lending to Personal Finance and from Agritech to Digital Insurance. Learn more here....

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)....

November 28 2022

A major challenge experienced by both SMEs, MSMEs and large businesses is determining how best to manage their money gotten from sales or other operations. The reality is that many businesses leave money on the table by letting funds sit...

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...

November 25 2019

Introduction Financial inclusion has become more than a catchphrase within the financial services space in recent times, primarily due to discussions on the subject from several stakeholders, including development organisations, governments, banks, etc. Investopedia defines financial inclusion as “efforts to...

November 2 2019

By Khadijah Abu and Yvonne-Faith Elaigwu Introduction 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...

August 25 2019

Nigerian banks have become leaders within the digital finance space in Africa within the last 10 years. While many reference M-Pesa as an example of mobile money innovation in Africa that Nigeria is yet to completely pull off, it can be...

August 18 2019

Interswitch, Africa’s largest integrated digital payments and financial technology firm, and pioneer mobile payments firm, Paga have joined other forward-thinking stakeholders in Nigeria’s financial services industry to adopt Open Banking and champion its advocacy in Nigeria with the aim of...

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