Archives Tag: Open Banking
A Summary of the CBN’s New Operational Guidelines for Open Banking
April 19, 2022
On Tuesday, March 7, the Central Bank of Nigeria released operational guidelines for Open Banking in Nigeria. The new rules were written up to enable banks and third-party firms to share customer data with each other, subject to customers’ consent. Musa Jimoh, Director of the Payments System Department at the apex bank, explained this … Continue reading A Summary of the CBN’s New Operational Guidelines for Open Banking
5 Key Pillars That Make Open Banking In Nigeria Truly Work
April 19, 2022
To begin with: What is open banking? According to Wikipedia, open banking is a financial service term as part of financial technology that refers to: i.) The use of open APIs that enable third-party developers to build applications and services around the financial institution. ii.) Greater financial transparency options for account holders ranging from … Continue reading 5 Key Pillars That Make Open Banking In Nigeria Truly Work
Open Banking In Nigeria
April 19, 2022
According to an article by PWC, “Open Banking is a blanket financial services (FS) term used to describe the use of open technologies by third-party providers (TPPs) to build services and applications around financial institutions.” Read more about Finance On 17 February 2021, the Central Bank of Nigeria (CBN) fully legalized open banking in … Continue reading Open Banking In Nigeria
