Tag Archives: fintechs

  • The future of Lendsqr depends on open banking

    Open banking enables financial service providers and users to access real-time comprehensive data and insights, allowing them to make informed financial decisions. A major use case for this is lending. Consequently, for lending SaaS providers like Lendsqr, their ability to successfully optimize the loan process, improve underwriting and decrease lenders’ credit risk depends on open …

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  • Authentication and authorization over “dumb” channels for open banking

    In Nigeria, incorporating FAPI with feature phones and channels not driven by internet has been a big concern, but OBN now has the answer. Read all about it on our latest blog post

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  • How Open Banking will help businesses with money management

    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 in their current accounts. Of course, the banks are more than happy for companies to …

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  • 5 Innovative Ideas that Open banking will support

    by Victor Aboh Have you ever thought to yourself, “if only I could get this piece of data from a certain financial institution, I would make an application that solves a pressing customer issue”? Then, Open banking is here for you! Open Banking provides the framework for consumers to permit financial institutions to share their …

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  • Central Bank of Nigeria's logo is seen on the headquarters building in Abuja

    Four innovations with CBN’s open banking regulations

    Nigeria is undoubtedly in the lead with its open banking initiatives among African countries and other developing countries. Following the release of the operational guidelines for open banking in Nigeria, the journey to fully launched open banking standards is within months at the most. Open banking holds the potential to promote financial inclusion and transform …

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  • Advocating for Open Banking in Nigeria

    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 implementing Open Banking and the current challenges being faced. He also reveals why the establishment …

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  • What Are The Next Steps For Open Banking In Nigeria?

    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 ensuring that open banking in Nigeria starts on a foundation of solid operational efficiency.  The …

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  • Open Banking: Driving growth for banks in Nigeria

    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 have created the importance of seamlessly sharing data through an open banking system. This would …

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  • Open Banking In Africa

    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 programming interface (API) integration with banking systems and mutually agreed on API taxonomy to let …

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  • Open APIs: Why fintechs should also adopt common standards

    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 in 2019 when Visa acquired a 20% stake in the company.

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