Tag Archives: news

  • 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 …

  • 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 …

  • 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 …

  • 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 …

  • Open Banking: Citi to become 1st corporate bank to enroll with UK Open Banking

      Citi is gearing up to become the first corporate bank to enroll as a Payment Initiation Service Provider (PISP) with UK Open Banking Directory. According to news sources, CitiBank will join UK’s Open Banking framework to provide an aggregated payments collections service for its business clients, tapping the APIs of the country’s largest nine banks, with …

  • Open Banking: Token.io becomes 1st licensed PISP to conduct end-to-end payment through public bank API

    Leading Open Banking platform provider Token.io Limited has made history by becoming the first licensed Payment Initiation Service Provider (PISP) to conduct an end-to-end payment through a public bank API.  As a result, millions of customers are set to benefit from simpler and more secure payments, through this historic move in the world of banking. Confirmed as …

  • 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 …

  • 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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