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A bunch of banana ate a monkey

Nigeria is Africa’s open banking pioneer

One of the predictions for Nigeria’s banking sector in 2021 was that Open Banking would finally make some headway. It was an important prediction when you consider that for years, quite a lot of global industry players have said that open banking is the future.  Open banking is the idea that established banks should share […]

Despite stringent regulations on crypto, the show will go on

This week, two Nigerian banks began blocking the accounts of individuals trading crypto and the accounts of cryptocurrency exchanges. It followed regulation from the Central Bank of Nigeria banning the activity of cryptocurrency exchanges in the country. It sent crypto exchanges like BuyCoins, Luno, Quidax, etc., which have become immensely popular in Nigeria, into a […]

Using Open APIs To Drive Financial Inclusion via Credit Scoring Built on Telecoms Data

Adedeji Olowe, Open Banking Nigeria, Lagos, Nigeria James Kunle Olorundare, Nigerian Communications Commission (NCC), Abuja, Nigeria Temitope Phillips, Lendsqr, Lagos, Nigeria Financial exclusion remains a significant challenge in developing economies. It has been shown that access to credit facilities is a strong predictor of financial inclusion. Credit reporting and scoring remain effective tools for both […]

10 Predictions for Digital Payments in 2021

Now for the fourth year, here are my predictions for digital payments in 2021 with the hope that it offers a better time for everyone than 2020. You probably have heard it a thousand times; 2020 was a shitty year for almost everyone except for technology and especially payments. Those worst hit by 2020, apart […]

The futility of utility bills for address verifications

I was recently working with a traditional financial service provider to launch a product online. And they insisted on applicants providing utility bills. Then the trouble started! Even though argued strenuously against this, but they also brought valid arguments. So, I had to take a step back to ask; why the hell do we need […]