In Nigeria, the Open Banking Consent Management System (OBCMS) is the technological platform from which this consent is given. Uniquely, the OBCMS uses the Bank Verification Number (BVN) to verify end-user identities when they grant consent.
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Nigeria will use BVN for open banking consent management, is it a good move?
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Unlocking Opportunities: Open Banking and Artificial Intelligence (AI) in Nigeria
Open Banking and Artificial Intelligence are more connected than might be guessed at the surface. Startups, Prosaic and Abound, have raised over $500 million on the premise that they can improve customer outcomes by combining these technologies. But how can these powerful technologies be harnessed to improve the lives of the average Nigerian? This article …
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Frequently Asked Questions about Open Banking
The OBN team answers some of the most popularly asked questions about Open Banking in Nigeria
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Hello Nigeria! – Rolling out Open Banking Capabilities
Hello Nigeria! – Rolling out Open Banking Capabilities (A KPMG Article)
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How Charities and NGOs can benefit from Open Banking
How Charities and NGOs can benefit from Open Banking
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Mono can redefine its open banking with open banking!
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 financial data in a uniform fashion; either directly or through a middleware if their infrastructure cannot conform to this standard (yet). This eliminates the complexity that hinders seamless integration.
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The Role of Fintechs in Nigeria’s Open Banking Ecosystem
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.
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Open Banking in Action via APIs (What next: Part 3 of 3)
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).
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Open Banking in Nigeria: Boosting Financial Access for MSMEs
How open banking in Nigeria will Increase Financial Access for MSMEs
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The future of Lendsqr depends on open banking
Lendsqr, an LaaS firm needs open banking made available in Nigeria to help its lenders scale and digitize their business, effectively.
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