Open Banking Nigeria partners Open Vecto on API standards

By Open Banking Nigeria

As part of a global alliance, Open Banking Nigeria has entered a strategic partnership with Open Vector to jointly develop the Open Banking Nigeria API standards and for Open Vector to assist in shaping and delivering this initiative.

Open Vector is a professional consultancy services firm specializing in providing Open Banking consulting and implementation services to senior and C-level banking executives world-wide.

Adedeji Olowe, a Trustee of Open Banking Nigeria, commented “the payments revolution in Nigeria continues at a very exciting pace but we believe that a common Open Banking API standard will provide a significant boost to payments and financial inclusion. We are excited to collaborate with Open Vector to be able to deliver a world-class implementation of Open Banking to the Nigerian financial industry.”

Carlos Figueredo, CEO of Open Vector, commented “we are excited to be embarking on this strategic partnership with Open Banking Nigeria which is spearheading the opportunities afforded by open banking both nationality and regionally. We firmly believe that this can generate significant socio-economic benefits to Nigeria as well as the broader African region including the opportunity for greater financial inclusion.”

Open Vector is led by Carlos Figueredo, CEO who, together with his team of directors, were co-authors of the Open Banking initiative in the United Kingdom under the Competition & Market Authority (CMA), regulatory authority behind the Open Banking UK regulation and implementation.

Open Banking Nigeria, formed by a group of fintech and banking industry veterans, is a not-for-profit organisation that drives the Open Banking initiatives in Nigeria to extend non-partisan and non-financial API standards for financial services in the country.

Open Vector joins as a key partner together with an array of technology companies that are partnering with Open Banking Nigeria to drive the adoption of Open Banking in Nigeria.