open banking

According to reports, the Central Bank of Nigeria said that it had issued the operational guidelines for Nigeria’s open banking business. According to the Central Bank, the guide is expected to promote the sharing of customer licensed data between banks and third-party companies to build customer-centric products and services. The guide is expected to improve efficiency and accessibility of financial services. Interpretation of this information: The Central Bank of Nigeria (CBN) recently released operational guidelines for Nigeria’s open banking business. Open banking is a financial services concept that enables customers…