What's open finance and what does it mean for Nigeria? - Open Banking Nigeria
The point is: Open Finance makes financial services smarter, more personalised, and a lot more useful.| Open Banking Nigeria
The point is: Open Finance makes financial services smarter, more personalised, and a lot more useful.| Open Banking Nigeria
Variable recurring payments allow businesses to collect payments only when necessary and within an agreed limit. Click to read more.| Open Banking Nigeria
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.| Open Banking Nigeria
John needs to sign up for a new budgeting app. Instead of creating yet another password, he sees an option to log in with Google. He clicks it, Google verifies his identity, and within seconds, he has access. No new credentials to manage, and no forms to fill out. This login experience is powered by […] The post Will Nigeria use FAPI for authentication? appeared first on Open Banking Nigeria.| Open Banking Nigeria
Wallets Africa simplifies payments and financial transactions through virtual and physical cards. They enable individuals and MSMEs to send, receive, and manage money seamlessly, supporting both local and international transactions. The post Wallets Africa appeared first on Open Banking Nigeria.| Open Banking Nigeria
VerifyMe is an identity verification and customer analytics company providing onboarding services to fintechs, banks, telcos, utilities, and other businesses that require trusted identity verification. The post VerifyMe appeared first on Open Banking Nigeria.| Open Banking Nigeria
Upperlink is a Nigerian software development company focusing on enterprise and payment solutions. They are CMMI appraised and licensed by the Central Bank of Nigeria as a Payment Solution Service Provider. The post Upperlink appeared first on Open Banking Nigeria.| Open Banking Nigeria
Unicorn Capital Limited is a financial services firm offering diverse financial solutions to clients across all sectors of the economy. They focus on providing tailored financial services to meet various client needs. The post Unicorn Capital appeared first on Open Banking Nigeria.| Open Banking Nigeria
Unlimint provides alternative payment methods both locally and globally, ensuring businesses can serve customers anywhere, even in regions where traditional payment methods are not widespread. The post Unlimint appeared first on Open Banking Nigeria.| Open Banking Nigeria
TrueLayer offers a toolkit to build financial applications that connect to bank data, verify accounts, and access transactions in real-time. This facilitates the development of innovative financial services. The post TrueLayer appeared first on Open Banking Nigeria.| Open Banking Nigeria
This article examines the benefits and challenges of adopting ISO 20022 for open banking in Nigeria. It weighs the potential of this standard to transform financial services against the practical hurdles it presents.| Open Banking Nigeria
Nigeria embarked on its Open Banking journey in 2017, spearheaded by a coalition of industry stakeholders advocating for greater innovation and inclusion. This mirrored the United Kingdom’s pioneering efforts under GDPR and the Second Payment Services Directive (PSD2), which sought to establish Open Banking. Additionally, the UK initially used Open Banking as a regulatory tool …| Open Banking Nigeria
There are strict requirements around regulatory compliance, data security, and technical readiness for open banking users.| Open Banking Nigeria
At the heart of every open banking system, customer consent isn’t just a technicality. It’s the cornerstone of the entire system. Open banking depends on customers authorizing their banks to share their financial data with third-party providers like fintechs and other banks. APIs facilitate this data sharing, which must happen programmatically and, most importantly, with the customer’s informed consent.| Open Banking 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.| Open Banking Nigeria
The OBN team answers some of the most popularly asked questions about Open Banking in Nigeria| Open Banking Nigeria
Open banking is the new financial frontier. Everyone’s talking about it, but few truly understand the goldmine it represents. How does open banking work, you ask?| Open Banking Nigeria
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). | Open Banking Nigeria
As the CBN has recently approved the operational guidelines for Open banking in Nigeria, Financial Institutions, and Fintechs require direction on their roles in this new digital ecosystem. Earlier this month, we indicated a tentative order of events that the CBN might follow in rolling out Open Banking operationally. As we await technical implementation guidance, this article aims to present Nigerian Fintech’s roles in the Open Banking Ecosystem. | Open Banking Nigeria
