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 and innovation which may not address the core of customer needs. Hence, the idea of …
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Redefining Customer-Centricity
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The Paypers releases the Open Banking Report 2019
The Paypers has launched Open Banking Report 2019, which strives to offer the freshest and most robust insights into the global Open Banking landscape. The 2019 report clarifies the role of key key-players in a post-September 14th world and assesses how the landscape has shifted within Europe and beyond, highlighting trends that should shape the …
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How will the role of incumbents evolve? – An Open Banking Nigeria Perspective
Introduction Open banking is the outcome of direct and indirect push from change drivers such as technology, competition, customer expectations & preferences, and regulation in the financial services ecosystem. Redefining banking and other financial services, the open model provides a sneak preview into how financial services will be delivered and consumed as part of the …
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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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Interswitch, Paga adopt Open Banking, to champion advocacy in Nigeria
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 driving innovation and choice for customers, businesses, financial technology firms, banks and other players in …
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EY, Open Banking Nigeria Partner for Financial Services Innovation
Ernst & Young (EY), a global professional services firm, has finalised arrangements with Open Banking Nigeria to develop and advocate for a standard Application Programming Interface (API) for the country’s financial services industry. The partnership will, in addition, transform the management of financial data and extend services to individuals and businesses across Nigeria. EY, in …
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Nigeria to Pioneer Open Banking in Africa, Joins the UK, Others
Nigeria has signified a strong desire to become the first country in Africa and the second in EMEA—after Bahrain—to officially adopt an Open Banking standard, which defines how financial data is created, shared and accessed – a system which also provides users with a network of financial institutions’ data through the use of a standard …
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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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Open Banking Nigeria Roadmap – Igniting innovation with a common API standard
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CBN Prioritises Open Banking as Centric Gateway Launch Initiatives
The Central Bank of Nigeria has prioritised Open Banking in the development of the Payment Systems Vision PSV 2030 as it considers the concept as one of the top global trends and new practices in payments that have been deployed in other countries which must be considered in Nigeria. According to the apex bank, this …
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