Tag Archives: fintechs

  • Open APIs: An inclusive model for advancing financial inclusion in Nigeria (An Open Banking Nigeria perspective)

    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 make financial products and services accessible and affordable to all individuals and businesses, regardless of …

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  • Is Nigeria Ready for an API-Led Banking? – An Open Banking Nigeria perspective

    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 stated that Nigerian banks currently offer more than what M-Pesa or other mobile money schemes …

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  • KPMG, Open Technology Foundation collaborate, for improved financial services

    KPMG, a professional services company and one of the Big Four auditors in the world, has signed a Memorandum of Understanding with Open Technology Foundation (OTF), to promote a standard Application Programming Interface (API) for in the financial services sector in Nigeria, with the primary objective of consistently providing consumers of financial services with access …

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  • PwC Nigeria, Heritage Bank, and Global Accelerex join Open Banking Nigeria

    As moves to establish open banking API standards in Nigeria intensifies, PwC Nigeria, Heritage Bank, and Global Accelerex have joined the list of companies who are currently supporting Open Banking Nigeria (OBN). In separate announcements, the companies have pledged their support towards the adoption of Open Banking Application Programming Interface (API) standards for the transformation …

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  • Open Vector: ‘Open Banking Nigeria’s practical approach is yielding results’

    As the effort to establish open banking API standards in Nigeria intensifies, Open Vector, one of the world’s most competent Open API consulting companies, has released a detailed report on Open Banking Nigeria. The report written by Open Vector for Open Banking Nigeria analyses the current situation in Nigeria with respect to open banking and …

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  • Open Vector report for Open Banking Nigeria

    Abstract This study, commissioned by open Banking Nigeria (OBN) analyses the current situation in Nigeria with respect to open banking and what might be learned from other open banking initiatives notably in the UK and Europe. The key finding is that while OBN ‘bottom up’ practical approach is yielding benefits, if it is not to …

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  • Open Banking: Token.io becomes 1st licensed PISP to conduct end-to-end payment through public bank API

    Leading Open Banking platform provider Token.io Limited has made history by becoming the first licensed Payment Initiation Service Provider (PISP) to conduct an end-to-end payment through a public bank API.  As a result, millions of customers are set to benefit from simpler and more secure payments, through this historic move in the world of banking. Confirmed as …

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  • CBN to embrace Open Banking System

    As the banking system moves to deliver quality services to consumers in the 21st century driven by new technological advancements, the Central Bank of Nigeria (CBN) has declared its interest in Open Banking System which grants bank customers easy access to their data and opening the financial system to applications and other services. This was …

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  • Open Vector partners with Open Banking Nigeria

    As part of a global alliance, Open Banking Nigeria has entered a strategic alliance with Open Vector to jointly develop the Open Banking Nigeria API standards. Open Vector is a strategic change advisory firm specializing in providing Open Banking consulting and implementation services to senior and C-level banking executives worldwide. Speaking on the partnership, Ope …

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  • “We do not yet have an end-to-end view of opportunities that exist in Open Banking space” – Opeyemi Ndukwe

    Managing Partner, Blue Advisory, Opeyemi Ndukwe has described opportunities that abound with open banking platform as prospects that its end cannot be quantified now. Ndukwe who was at the launch of the platform in Lagos said that open banking is a wide space where so much can happen. “We do not yet have an end-to-end …

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