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: ‘Open Banking Nigeria’s practical approach is yielding results’
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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: Citi to become 1st corporate bank to enroll with UK Open Banking
Citi is gearing up to become the first corporate bank to enroll as a Payment Initiation Service Provider (PISP) with UK Open Banking Directory. According to news sources, CitiBank will join UK’s Open Banking framework to provide an aggregated payments collections service for its business clients, tapping the APIs of the country’s largest nine banks, with …
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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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Open Banking Nigeria: Transforming Payments in Nigeria with Open APIs
by Adedeji Olowe This is the email that birthed Open Banking Nigeria; just 2 minutes to midnight on June 1, 2017. Sent to those unfortunate to be my friends and so, are subject to never-ending streams of half-baked ideas and utter madness. It’s a very long read, be warned! **************************************** Good evening everyone, At one …
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Open Banking Nigeria: Organisation officially launches API Standards with Banks and Fintechs
The concept of Open Banking has been gathering waves over the years but reached a watershed with the pronouncement of the PSD2. Beyond Europe, countries such as Australia, Hong Kong, United Kingdom, and Nigeria are at various stages of review, design or implementation of Open Banking. Open Banking is an initiative designed to enhance and …
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Open Banking: Open Technology Foundation launches free APIs to make banking easier
The Open Technology Foundation, a not-for-profit organization, has launched Open Banking Nigeria open source APIs, in a bid to drive innovation and choice for all parties within the financial industry. The APIs, which are the first set of free banking APIs in Nigeria, is to be adopted as a standard for the Nigerian financial industry …
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