• 3 things open banking is not

    3 things that are sometimes mistaken for open banking but not

    Open Banking has been touted as one of the most revolutionary shifts in financial services, with Nigeria at the forefront of adopting this transformative model in Africa. In 2021, the Central Bank of Nigeria (CBN) formalized the Open Banking regulatory framework, sparking a new wave of excitement and innovation. Yet, for something that’s supposed to …

    More
  • savings and investment in nigeria

    How open banking will transform savings and investment in Nigeria

    In a country where over 40% of the population lives below the poverty line, saving isn’t just a luxury; it’s a necessity. Whether it’s for emergencies, school fees, or starting a small business, saving gives people a safety net. But the reality is only about 32.5% of adults in Nigeria actively save, and even fewer …

    More
  • Critical stakeholders in the Nigerian open banking journey

    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 …

    More
  • 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 …

    More
  • cbn open banking

    The roles of CBN with Open Banking in Nigeria

    Open banking in Nigeria is a collaborative effort, and the combined efforts of the CBN, NIBSS, banks, and fintech companies will give people more control over their money.

    More
  • Young Afro girl wearing glasses - unsplash img

    3 ways credit needs Open Banking in Nigeria

    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 available, making it indispensable for economic survival and growth. 

    More
  • Frequently asked questions about open banking

    Frequently Asked Questions about Open Banking

    The OBN team answers some of the most popularly asked questions about Open Banking in Nigeria

    More
  • Hello Nigeria! - Rolling out Open Banking Capabilities

    Hello Nigeria! – Rolling out Open Banking Capabilities

    Hello Nigeria! – Rolling out Open Banking Capabilities (A KPMG Article)

    More
  • How Charities and NGOs can benefit from Open Banking

    How Charities and NGOs can benefit from Open Banking

    How Charities and NGOs can benefit from Open Banking

    More
  • 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.

    More
Close Bitnami banner
Bitnami