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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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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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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Sterling Bank to Champion Open Banking in Nigeria
To chart a new course for the financial services industry in Nigeria and the African continent, Sterling Bank Plc, one of Nigeria’s forward-looking financial institutions, has formally committed to the development of the Application Programming Interface (API) standard for financial institutions. First of its kind on the African continent, the initiative will ensure the launch …
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Africa’s Talking joins Open Banking Nigeria
Mobile technology company, Africa’s Talking, has joined the league of technology companies partnering with Open Banking Nigeria in the development of Open APIs for the Nigerian financial industry. Africa’s Talking provides communication APIs for SMS, USSD, voice, etc. to help technology startups and large companies communicate with their customers across Africa. To further strengthen their …
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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 Nigeria: Fintech stakeholders collaborate to drive digital banking
A group of top industry professionals and Fintech companies in Nigeria have established Open Banking Nigeria with the goals to promote, develop and implement a common standard for Application Programming Interfaces (APIs) across the financial and payment space in the country. Its establishment follows the global innovation trend of granting customer easy access to their data and …
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