open banking

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Nigerian Central Bank Unveils Open Banking Guidelines

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The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.” Customer Permissioned Data Sharing The Central Bank of … Read more

Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

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President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. New Legislation Allows Ukrainian Central Bank to Issue Digital Currency The President of … Read more

What Is Open Banking, and Is It Good or Bad?

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You know that major feature of blockchain technology? The one that cuts out the intermediaries and drives down the fees? Open banking is like fintech’s solution to that. If your bank is involved in open banking, it means that it’s part of a network of financial institutions. And between these institutions, your data is shared securely … Read more

Open Banking and Real-Time Payments Are Changing Banks for the Better

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Banks continue to flex their muscles and engage in fintech innovation, opening themselves up in a way previously never thought possible. They were once staunchly resistant to outside intervention, but a recent report from ACI Worldwide and Ovum has revealed that this trend is changing. Almost 90 percent of banks are forging a path toward open banking and … Read more