“Nigeria’s API-based open banking initiatives offer a model for Africa”

Prabaldeep Paul, our head of strategy research, is featured in CIO.com in a story on guarding the open banking ecosystem in Nigeria.

Extract from the article: “A secure governance framework managing consent approval is the fundamental tenet for safeguarding abuse of customer data…Periodic assessments of third parties' security capabilities, along with close to real-time monitoring, will be critical in this new ecosystem…

…But if it is well-implemented, open banking is a plus for the financial sector, giving banks a stream of income beyond deposits, and also improves customer experience through personalized products and services.”