Open Banking Archives - Open Banking Nigeria

Important things to know about the API standard for open banking in Nigeria

March 21 2025

Information

At the center of the open banking shift is the API standard, which dictates how institutions should share data in a structured and secure way....

Are Mono and Stitch truly open banking?

December 31 2024

Information

Open banking. The buzzword that has everyone nodding in agreement, but if you stop the average person on the street—or even in the boardroom—they’d struggle to tell you what it really means. Is it APIs? Fancy fintech dashboards? Or is...

What’s OCEN and could it work with open banking in Nigeria?

December 31 2024

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Imagine a world where access to credit isn’t just a privilege for the fortunate few but a foundational layer of everyday life—like clean water or electricity. Now, hold that thought and ask yourself: why is it that in a country...

7 ways the new US Open Banking regulation outshines the UK’s

November 30 2024

Around the World

While countries around the world are adopting open banking in their unique ways, the UK and the US stand out as leaders with very different approaches....

Nigeria will use BVN for open banking consent management, is it a good move?

August 26 2024

Uncategorized

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....

Unlocking Opportunities: Open Banking and Artificial Intelligence (AI) in Nigeria

August 12 2024

Thought leadership

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...

3 ways credit needs Open Banking in Nigeria

July 23 2024

Thought leadership

Credit is not just a financial tool; it's the lifeblood of a thriving economy. No nation can truly prosper or expand without the support of a robust credit system. Financial services often find their footing and thrive when credit is...