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First City Monument Bank partners with Open Banking Nigeria

Friday 6 November 2020 13:02 CET | News

First City Monument Bank has announced that it is now a member of Open Banking Nigeria, an industry-focused non-profit body facilitating the advocacy, development, and adoption of a common standard for open API within the Nigerian financial ecosystem. 

With this development, FCMB has formally joined more than 50 other individual and corporate members across the financial industry, including banks, fintechs, financial consultants, global customer service leaders, among other stakeholders, as an integral part of Open Banking Nigeria.

Open banking is a concept aimed at enhancing the capability of operators in the financial industry and allied institutions to drive and deepen innovation through access to more customer-authorised information and data. In Nigeria, it will result in far greater end-users satisfaction, help the various stakeholders thrive, boost collaboration and inspire more innovation. In addition, the adoption of the concept would create a new data sharing infrastructure among financial institutions, which will go a long way towards enriching the range of services and products that would emerge from operators.

 


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Keywords: First City Monument Bank, partnership, Open Banking Nigeria, Open Banking, API
Categories: Banking & Fintech
Companies:
Countries: Nigeria
This article is part of category

Banking & Fintech

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